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.
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.
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.
Country/Economy | 2023 Innovation Rank | Change from 2022 |
---|---|---|
Switzerland | 1st | – |
Sweden | 2nd | +1 |
United States (US) | 3rd | -1 |
Singapore | 4th | – |
Finland | 6th | +3 |
Denmark | 9th | – |
Republic of Korea | 10th | – |
France | 11th | +1 |
Japan | 13th | – |
Israel | 14th | – |
China | 12th | -1 |
Belgium | 23rd | +3 |
Estonia | 16th | +2 |
Norway | 19th | – |
Lithuania | 34th | +5 |
Latvia | 37th | +4 |
Malaysia | 36th | – |
Bulgaria | 38th | – |
Türkiye (Turkey) | 39th | – |
India | 40th | – |
United Arab Emirates | 32nd | – |
Saudi Arabia | 48th | – |
Qatar | 50th | – |
Bahrain | 67th | – |
Oman | 69th | – |
Jordan | 71st | – |
Egypt | 86th | – |
Brazil | 49th | – |
Chile | 52nd | – |
Uruguay | 63rd | – |
El Salvador | 95th | – |
Thailand | 43rd | – |
Viet Nam | 46th | – |
Philippines | 56th | – |
Indonesia | 61st | – |
Islamic Republic of Iran | 62nd | – |
Kazakhstan | 81st | – |
Uzbekistan | 82nd | – |
Pakistan | 88th | – |
South Africa | 59th | – |
Rwanda | 103rd | – |
Senegal | 93rd | – |
Nigeria | 109th | – |
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.
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