India retains 40th rank out of 132 economies in the Global Innovation Index 2023 rankings published by the World Intellectual Property Organization. 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.
Collaborative Efforts in Innovation
The Confederation of Indian Industry (CII) has also been collaborating in India’s journey towards an innovation-driven economy. This year, the NITI Aayog, in partnership with the CII and the World Intellectual Property Organisation (WIPO), is hosting, virtually, the India Launch of the GII 2023 on 29th September 2023.
Which are the most innovative economies in 2023?
For the 13th year in a row, Switzerland is the most innovative economy in 2023 followed by Sweden, the United States, the United Kingdom and Singapore. Discover how other economies are performing in the Global Innovation Index 2023 rankings.
- Denmark (9th) and the Republic of Korea (10th) remain in the top 10. France (11th) gets closer, improving one rank this year, while Japan remains strong as the 13th most innovative economy. Israel re-enters the top 15, reaching 14th place.
- After a rapid ascent, gaining 23 positions over the last decade, China ranks 12th this year, dropping one rank relative to 2022.1 China remains the sole middle-income economy to secure a position among the top 30, retaining 3rd place in the SEAO region and top spot in the upper middle-income group (see Figure 11 and Table 3). Belgium (23rd) re-enters the top 25, climbing three ranks.
- All eight Nordic and Baltic economies improved their ranking this year, except for Iceland, which stays at 20th spot. Estonia gains two ranks and edges the top 15, at 16th place. Norway (19th) reenters the top 20. Lithuania (34th) and Latvia (37th) make the largest improvements, gaining five and four ranks respectively, with Latvia re-entering the top 40.
- Apart from China, there are only four other middle-income economies among the top 40 economies, namely, Malaysia (36th), Bulgaria (38th), Türkiye (39th) and India (40th).
- The United Arab Emirates stabilizes at 32nd place, close to the top 30. Saudi Arabia (48th) and Qatar (50th) make it into the top 50. Middle East economies Bahrain (67th), Oman (69th), Jordan (71st) and Egypt (86th) also experience notable improvements in their innovation ranking – Global Innovation Index 2023 51 with Bahrain and Oman entering the top 70, and Jordan just outside. In sum, these are some systematic and positive innovation rank developments in the Middle East.
- Brazil (49th) makes it into the top 50 in 2023, following a gradual ascent over recent years, overtaking Chile (52nd) as the most innovative economy in Latin America and the Caribbean. Uruguay (63rd) and El Salvador (95th) are the only two other economies within the region that improve their ranking in 2023.
- Thailand (43rd) and Viet Nam (46th) consolidate their positions in the top 50, while the Philippines (56th) gets closer. Viet Nam and the Philippines continue marching forward, after a setback in 2022, gaining two and three ranks, respectively. Indonesia (61st) moves rapidly toward the top 60, following a rise over recent years. Together with China, India, the Islamic Republic of Iran (62nd), the Philippines, Türkiye and Viet Nam, Indonesia joins the group of middle-income economies within the GII top 65 that climbed fastest in the GII ranking over the last decade.
- In the last four years, and since the start of the pandemic, Mauritius (57th), Indonesia, Saudi Arabia, Brazil and Pakistan ascended most in the GII, in order of their rank progression.
- In Central and Southern Asia, Kazakhstan (81st) and Uzbekistan (82nd) are close to the top 80, while Pakistan (88th) follows closely, the latter overperforming on innovation once again in 2023.
- Nine out of the 26 economies from Sub-Saharan Africa (SSA) covered this year improve their ranking. South Africa (59th) enters the top 60. Rwanda (103rd and low-income group leader) continues moving ahead. Senegal (93rd) and Nigeria (109th) take two of the biggest leaps forward. Excluding island economies, Senegal becomes the region’s third most innovative economy in 2023.
Global Innovation Index 2023 in Tabular form:
|Country/Economy||2023 Innovation Rank||Change from 2022|
|United States (US)||3rd||-1|
|Republic of Korea||10th||–|
|United Arab Emirates||32nd||–|
|Islamic Republic of Iran||62nd||–|
About the Global Innovation Index
Now in its 16th edition, the Global Innovation Index 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.
The Global Innovation Tracker 2023 addresses these crucial questions. It takes the pulse of four key stages in the innovation cycle: (1) science and innovation investment; (2) technological progress; (3) technology adoption; and (4) the socioeconomic impact of innovation.
The main findings this year are as follows:
1. Science and innovation investment showed a mixed performance in 2022 in the context of many challenges, and a downturn in innovation finance. Scientific publications continued to increase in number, albeit at a slower rate. Global government R&D budgets are expected to grow in real terms in 2022, while R&D expenditure by top corporate spenders rose substantially. But it is unclear whether this can compensate for surging inflation. International patent filings, in turn, stagnated while venture capital investments declined sharply in value in 2022, following extraordinarily high levels in 2021, reflecting a deteriorating climate for risk finance.
2. Strong technological progress in the fields of information technology, health, mobility and energy continue to deliver new breakthroughs opening up new opportunities for global development. Computing power is historically strong, while the costs of renewable energy and genome sequencing costs are continuing to fall.
3. An observed increase in technology adoption is gradually making access to safe sanitation and connectivity more widespread. Electric vehicle (EV) uptake is booming, and the desire for greater automation has increased robot installation. However, for the majority of innovation indicators, overall penetration rates remain medium-to-low, and the availability of radiotherapy for cancer treatment continues to be inadequate in many countries.
4. The socioeconomic impact of innovation remains low. The COVID-19 crisis triggered volatility in labor productivity – which is currently at a standstill – and life expectancy fell for a second consecutive year (with healthy life expectancy continuing to increase, but more slowly). Carbon dioxide emissions continued to grow in 2022, albeit at a lower rate than the postpandemic surge of 2021 – but with no global reductions in sight.
Important takeaways for all competitive exams:
- Global Innovation Index 2023Headquarters: Geneva, Switzerland;
- Global Innovation Index 2023 Founded: 14 July 1967;
- Global Innovation Index 2023 Parent organization: United Nations;
- Global Innovation Index 2023 Director General: Daren Tang..