India has retained 40th rank out of 132 economies in the Global Innovation Index 2023 rankings published by the World Intellectual Property Organisation.
India has been on a rising trajectory, over the past several years in the Global Innovation Index (GII), from a rank of 81 in 2015 to 40 in 2023, the government policy think tank NITI Aayog said on Thursday (28 September).
The GII 2023 uses 80 indicators to track global innovation trends and ranks 132 countries on the basis of their innovation capabilities.
India has over performed on the innovation parameter in WIPO's annual Global Innovation Index (GII) for the 13th consecutive year.
The country has maintained the 40th position in the overall global innovation ranking while holding top rankings in key indicators including ICT services exports (5th rank), flow of venture capital (6), graduates in science and engineering (11) and global corporate R&D investors (13) in the the GII 2023 ranking.
India maintains the leading position in overall ranking among the lower middle-income country group too, a WIPO statement said.
In a statement, the NITI Aayog said that the innovation has been at the forefront of India's battle against the unprecedented crisis created by the pandemic and will be pivotal in driving the country’s resilience, as enshrined in the Prime Minister Narendra Modi's clarion call on Atma Nirbhar Bharat.
"The consistent improvement in the GII ranking is owing to the immense knowledge capital, the vibrant start-up ecosystem, and the amazing work done by the public and private research organisations," the government think tank said.
According to the NITI Aayog, the GII is a reliable tool for governments across the world to assess the innovation-led social and economic changes in their respective countries.
Over the years, the GII has established itself as a policy tool for various governments and helped them to reflect upon the existing status quo, it added.
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