The Global Innovation Index (GII) 2023, published by the World Intellectual Property Organization (WIPO), is a well-respected reference for gauging the performance of an economy’s innovation ecosystem. The index ranks the year’s most innovative economies amongst 132 countries and identifies the top 100 Science and Technology (S&T) Innovation Clusters around the world. Notably, India has sustained its 40th ranking out of these 132 economies.
Understanding WIPO
The WIPO serves as the global interface for Intellectual Property (IP) services, policy information, and cooperation. Founded in 1967 as a self-funding agency under the United Nations, WIPO presently includes 193 member states. Its objective is to steer the advancement of a balanced and effective international IP system that propels innovation and creativity to benefit everyone.
Key Highlights of the 2023 Index
In the 2023 GII rankings, Switzerland emerged as the most innovative economy, followed by Sweden, the United States, the United Kingdom, and Singapore. Singapore not only entered the top five but also led among South East Asia, East Asia, and Oceania (SEAO) region economies. The report indicates that the top S&T innovation clusters globally are Tokyo-Yokohama, Shenzhen-Hong Kong-Guangzhou, Seoul, Beijing, and Shanghai-Suzhou. Currently, China boosts the highest number of such clusters globally, surpassing the United States.
India’s Performance in GII 2023
India secured the 40th rank in the latest GII 2023, marking a significant leap from the 81st spot in 2015. This climb testifies to India’s sustained and significant development in innovation over the past eight years. Among the 37 lower-middle-income nations, India’s performance tops the list. Furthermore, it leads among the ten economies in Central and South America.
India’s strong innovation ecosystem reflects in vital indicators such as ICT services exports, venture capital received, science and engineering graduates, and global corporate R&D investments. However, with regard to S&T clusters, India has only four in the global top 100 – Chennai, Bengaluru, Mumbai, and Delhi – compared to China’s 24 and the US’s 21.
Factors Promoting India’s Progress
India’s improvement draws from its extensive knowledge capital, flourishing startup ecosystem, and significant contributions by public and private research organizations. The COVID-19 pandemic underscored the importance of innovation in meeting challenges, perfectly aligning with India’s Atma Nirbhar Bharat (Self-reliant India) vision.
Areas for Improvement & Future Plans
Despite these advancements, specific areas, including infrastructure, business sophistication, and institutions, need refinement. To bridge these gaps, NITI Aayog is actively fostering policy-led innovation in essential sectors like electric vehicles, biotechnology, nanotechnology, space, and alternative energy sources.
Innovation Initiatives in India
Several initiatives are underway to foster innovation in India. The key programs include Digital India, Unified Payments Interface (UPI), National Education Policy, and Atal Tinkering Labs, all designed to create an environment conducive to innovative growth and development.
