India has maintained its 40th position out of 132 economies in the recently published Global Innovation Index (GII) 2023 by the World Intellectual Property Organization (WIPO). Over the past few years, India has consistently climbed the ranks in the GII, rising from 81st place in 2015 to its current position.

Collaborative Efforts in Innovation

The Confederation of Indian Industry (CII) has played a significant role in India’s journey towards becoming an innovation-driven economy. This year, NITI Aayog, in collaboration with CII and WIPO, is virtually hosting the India Launch of GII 2023 on September 29, 2023.

 Top Innovative Economies in 2023

For the 13th consecutive year, Switzerland retains its top position as the most innovative economy in 2023, followed by Sweden, the United States, the United Kingdom, and Singapore. Several other economies also perform well, with Denmark and the Republic of Korea maintaining their places in the top 10. France has improved by one rank, and Japan remains strong as the 13th most innovative economy. Israel re-enters the top 15, securing the 14th position.

 Notable Regional and Global Trends

China’s Ascent: Despite a drop in ranking from the previous year, China remains a prominent player in innovation, ranking 12th in 2023. It’s the sole middle-income economy among the top 30 and continues to lead in the upper middle-income group.

 Nordic and Baltic Progress: All eight Nordic and Baltic economies have improved their rankings, with Estonia breaking into the top 15 and Norway re-entering the top 20.

 Middle East and Latin America: The United Arab Emirates stabilizes at 32nd place, while Saudi Arabia and Qatar make it into the top 50. Brazil overtakes Chile as the most innovative economy in Latin America and the Caribbean.

 South and Southeast Asia: Thailand and Vietnam consolidate their positions in the top 50, with Indonesia rapidly climbing toward the top 60. These countries, along with China, India, Iran, the Philippines, Turkey, and Vietnam, represent middle-income economies that have significantly improved their GII rankings in the past decade.

 Africa’s Progress: In Sub-Saharan Africa, nine out of 26 economies have improved their rankings, with South Africa entering the top 60 and Rwanda leading in the low-income group.

 Global Innovation Index 2023 Key Findings

 The Global Innovation Index 2023 reveals several important findings:

 1. Mixed Investment in Innovation: Science and innovation investment showed mixed performance in 2022, with an uncertain outlook due to challenges and a downturn in innovation finance.

 2. Technological Progress: Strong progress in information technology, health, mobility, and energy is continuing to open up new opportunities for global development.

 3. Technology Adoption: Increased technology adoption is making safe sanitation and connectivity more widespread, with growing electric vehicle (EV) uptake and automation desires.

 4. Socioeconomic Impact: The socioeconomic impact of innovation remains relatively low, with volatility in labor productivity, fluctuating life expectancies, and ongoing challenges in addressing carbon dioxide emissions.

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