India’s Consistent Innovation Excellence | Retaining 40th Position in Global Innovation Index 2023

The NITI Aayog, in conjunction with the Confederation of Indian Industry (CII) and the World Intellectual Property Organization (WIPO) based in Geneva, celebrated the launch of the Global Innovation Index (GII) 2023 in India. India’s steadfast progress in numerous innovation parameters is reaffirmed with its sustained 40th position out of 132 economies. This achievement stands as a testament to India’s remarkable journey, advancing from its 81st rank in 2015.

Distinguished dignitaries graced the GII 2023 launch, including Shri Suman Bery, Vice-Chairman of the NITI Aayog; Dr. V.K. Saraswat, Member (S&T) of the NITI Aayog; Shri BVR Subrahmanyam, Chief Executive Officer (CEO) of the NITI Aayog; Mr. Daren Tang, Director General of WIPO; Dr. Sacha Wunsch-Vincent, Co-Editor of the GII & Head of the Economics and Statistics Division, WIPO; Professor Rishikesha Krishnan, Director of the Indian Institute of Management, Bangalore; and Mr. Alok Nanda, Co-Chairman of the CII National Committee on Technology, Innovation & Research, and Chief Executive Officer of the GE India Technology Centre.

Dr. Sacha Wunsch-Vincent, in his comprehensive address, commended India, especially the NITI Aayog, for propelling the nation’s consistent upward trajectory in the global rankings of the GII. He lauded India’s commendable progress in data-driven innovation and highlighted national-level initiatives. Notably, India’s consistent growth in innovation over the last five years, attributed to effective policies and coordination, was emphasized. He emphasized that India finds itself in a “sweet spot” poised for an exciting innovation journey ahead, drawing significantly on its robust, highly educated, entrepreneurially inclined, and intellectual property-savvy youth.

Key Highlights from GII 2023:

1. India’s Consistent Rise: India’s persistent climb in the GII, from 81st in 2015 to its current 40th position, underscores the nation’s steadfast dedication to innovation. This upward trajectory aligns with the vision of Atma Nirbhar Bharat, championed by Prime Minister Narendra Modi, emphasizing self-reliance and resilience through innovation.
2. Leadership Among Peers: India emerges as the top performer among 37 lower-middle-income group economies and stands tall as the number one innovation performer among the 10 economies in Central and Southern Asia.
3. Consistent Innovation Excellence: India continues to impress by surpassing expectations in relation to its level of development, maintaining its position as an “innovation achiever” for the 13th consecutive year.
4. Strengths and Focus Areas: India ranks highest in the Market Sophistication (input pillar) and Knowledge and Technology Outputs (output pillar) categories. It ranks amongst the top 10 in the Infrastructure and Institutions pillars (input pillars).
5. Top-Ranked Indicator: India secures the top spot in the “Domestic market scale, bn PPP$” indicator. Furthermore, India is ranked in the top 10 in six additional indicators.
6. Innovation Outputs: India proudly ranks 35th in innovation outputs, marking an improvement from the previous year.
7. Higher Graduates in Science and Engineering: India records 34% of total tertiary graduates in science and engineering in 2021, ranking 11th in this indicator.
8. Startup Finance Recognition: India’s finance for startups and scaleups earns it the 9th position in this category, while the Venture Capital Performance, though slightly lower than the previous year, secures the 6th position.
9. Diverse Domestic Industries: India demonstrates growth in domestic industry diversification, reflecting a 0.46% increase from the prior year, and ranks 10th in this indicator.
10. Patents and Citable Documents: India shows a substantial growth in patents by origin, ranking 28th globally. Additionally, it achieved the 20th rank in the citable documents H-index in 2022.
11. Unicorn Valuation: India’s unicorn valuation stands at 5.04% of GDP in 2023, securing the 9th position in this indicator.
12. High-Tech Manufacturing: High-tech manufacturing contributed to 34.23% of the total manufacturing output in 2019, with India ranking 35th in this category.
13. Intangible Asset Intensity: India achieved an impressive 8th position in intangible asset intensity, and maintains a Global Brand Value of 210.907 billion USD in 2023, ranking 31st globally.
14. Cultural and Creative Exports: India’s cultural and creative services exports soared in 2021, up by a substantial 21.4% from the prior year, securing the 18th position in this thriving sector.

The launch of the Global Innovation Index 2023 in India exemplifies the nation’s unwavering commitment to innovation and its remarkable journey towards becoming a global innovation leader. As India consistently outperforms expectations and excels in various indicators, it stands poised to drive economic growth, foster resilience, and embrace self-reliance through innovation. For further information and detailed insights into the Global Innovation Index 2023, please visit: WIPO GII 2023.