Global Innovation Index 2023

• 03 Oct 2023

For Prelims: Global Innovation Index 2023, World Intellectual Property Organization (WIPO), United Nations, South East Asia, East Asia and Oceania (SEAO) region, Science and Technology Cluster.

For Mains: Global Innovation Index 2023, Growth and development of India in Innovation.

Source: PIB

Why in News?

India retains 40^th rank out of 132 economies in the Global Innovation Index 2023 rankings published by the World Intellectual Property Organization (WIPO).

• The 2023 edition reveals the ranking of this year’s most innovative economies in the world amongst 132 economies and localizes the top 100 science and technology innovation clusters.

Note

GII is a leading reference for measuring an economy’s innovation ecosystem performance. Published annually, it is also a valuable benchmarking tool used by policymakers, business leaders, and other stakeholders to assess progress in innovation over time.

What is WIPO?

• WIPO is the global forum for Intellectual Property (IP) services, policy, information and cooperation.
• It is a self-funding agency of the United Nations, with 193 member states.
• Its aim is to lead the development of a balanced and effective international IP system that enables innovation and creativity for the benefit of all.
• Its mandate, governing bodies and procedures are set out in the WIPO Convention, which established WIPO in 1967.

What are the Key Highlights of the Index?

• Most Innovative Economies in 2023:
  • Switzerland is the most innovative economy in 2023 followed by Sweden, the United States, the United Kingdom and Singapore.
    • Singapore has entered the top five, and has taken the leading position among South East Asia, East Asia and Oceania (SEAO) region economies.
• Top Science and Technology (S&T) Clusters in the World:
  • The top Science and Technology innovation clusters in the world in 2023 are Tokyo–Yokohama, followed by Shenzhen–Hong Kong–Guangzhou, Seoul, Beijing and Shanghai-Suzhou.
    • S&T clusters are the areas in the world where the highest density of inventors and scientific authors are located.
  • China now has the largest number of clusters in the world, overtaking the United States.

What are the Key Highlights Related to India?

• Overall Ranking and Growth:
  • India secured the 40^th position in the latest GII 2023, showcasing a remarkable climb from the 81^th spot in 2015.
    • This ascent underscores India's consistent and substantial growth in innovation over the past eight years.
  • India secured the top position among the 37 lower-middle-income countries and leading among the 10 economies in Central and South America.
    • Key indicators affirmed India's robust innovation landscape, including significant rankings in ICT services exports, venture capital received, graduates in science and engineering, and global corporate R&D investors.
• S&T Clusters:
  • Compared to China’s 24 and US’s 21, India has only 4 S&T clusters among the world’s top 100. These are Chennai, Bengaluru , Mumbai and Delhi.
• India’s Progress:
  • India’s progress is attributed to its abundant knowledge capital and a thriving Startup Ecosystem, along with commendable efforts from public and private research organizations.
  • The Covid-19 pandemic emphasized the vital role of innovation in addressing challenges, aligning with the nation's vision of Atma Nirbhar Bharat (Self-reliant India).
• Need for Improvement:
  • Certain areas necessitate improvement, particularly infrastructure, business sophistication, and institutions.
    • To bridge these gaps, NITI Aayog is actively working to promote policy-led innovation in crucial sectors such as electric vehicles, biotechnology, nanotechnology, space, and alternative energy sources.

What are the Initiatives Related to Innovation in India?

• Digital India
• Unified Payments Interface (UPI).
• National Education Policy
• Atal Tinkering Labs