India Maintains Its 40th Position in the Global Innovation Index 2023

Global Innovation Index 2023

In a grand celebration held in collaboration with the Confederation of Indian Industry (CII) and the World Intellectual Property Organization (WIPO), Geneva, the NITI Aayog unveiled the Global Innovation Index (GII) 2023 in India. India’s steadfast rise in innovation rankings, from 81st in 2015 to retaining the 40th position among 132 economies, marks a remarkable achievement, reinforcing the nation’s commitment to innovation.

Esteemed dignitaries, including Shri Suman Bery, Dr. V.K. Saraswat, Shri BVR Subrahmanyam, Mr. Daren Tang, Dr. Sacha Wunsch-Vincent, Professor Rishikesha Krishnan, and Mr. Alok Nanda, graced the GII 2023 launch event. Dr. Sacha Wunsch-Vincent, in his address, lauded India for its data-driven innovation progress and effective policies, positioning the nation in a “sweet spot” for a promising future innovation journey.

Key Highlights from GII 2023:

India’s Consistent Rise: India’s upward trajectory in GII, from 81st in 2015 to 40th, aligns with the vision of Atma Nirbhar Bharat, emphasizing self-reliance through innovation.

Leadership Among Peers: India leads among 37 lower-middle-income economies and Central and Southern Asia in innovation performance.

Consistent Innovation Excellence: India maintains its “innovation achiever” status for the 13th consecutive year.

Strengths and Focus Areas: India excels in Market Sophistication and Knowledge and Technology Outputs, among other pillars.

Top-Ranked Indicator: India secures the top spot in “Domestic market scale, bn PPP$,” and ranks in the top 10 in six additional indicators.

Innovation Outputs: India ranks 35th in innovation outputs, marking an improvement.
Higher Graduates in Science and Engineering: India ranks 11th in this indicator.

Startup Finance Recognition: India earns the 9th position, while Venture Capital Performance secures the 6th position.

Diverse Domestic Industries: India ranks 10th in domestic industry diversification.

Patents and Citable Documents: India ranks 28th in patents by origin and 20th in the citable documents H-index.

Unicorn Valuation: India’s unicorn valuation stands at 5.04% of GDP, securing the 9th position.

High-Tech Manufacturing: India ranks 35th in high-tech manufacturing.

Intangible Asset Intensity: India achieves the 8th position in intangible asset intensity.

Cultural and Creative Exports: India’s cultural and creative services exports surged by 21.4%, securing the 18th position.

The launch of Global Innovation Index 2023 in India exemplifies the nation’s commitment to innovation and its journey towards becoming a global innovation leader, poised to drive economic growth and self-reliance through innovation.

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