India’s Rise in Global Innovation Index 2024

Global Innovation Index 2024: India Ranks 39th

The Global Innovation Index (GII) is an essential annual ranking that evaluates countries based on their innovation capabilities and achievements. It is a critical tool for policymakers, business leaders, and other stakeholders seeking to enhance their innovation ecosystems. By providing insights into the strengths and weaknesses of innovation, the GII aims to guide nations toward economic and social transformation driven by innovation.

Key Details About the Global Innovation Index

1. Origin and Publishing Body
The GII was established in 2007 and is published annually by the World Intellectual Property Organization (WIPO) in collaboration with institutions like Cornell University and INSEAD. It is widely acknowledged as a trusted measure of innovation across various economies.

2. Criteria and Methodology
The GII assesses economies using two main components: the Innovation Input Sub-Index and the Innovation Output Sub-Index. Each sub-index comprises several critical pillars:

• Innovation Input Sub-Index: Evaluates the factors affecting an economy’s innovation capabilities through five pillars:
  • Institutions: Political, regulatory, and business environments.
  • Human Capital and Research: Education, R&D, and skill levels.
  • Infrastructure: Access to ICT, energy resources, and sustainability.
  • Market Sophistication: Availability of credit, investment options, and trade.
  • Business Sophistication: Focus on knowledge workers and innovative business models.
• Innovation Output Sub-Index: Measures the tangible impacts of innovation through two pillars:
  • Knowledge and Technology Outputs: Patents, high-tech exports, and knowledge generation.
  • Creative Outputs: Creative goods, services, and online creativity.

3. Data Sources
The GII utilizes both subjective and objective data gathered from various reputable sources, such as the International Telecommunication Union (ITU) and the World Bank. Objective data includes quantitative indicators like patent filings and R&D spending, while subjective data is derived from surveys and expert opinions assessing the business environment and innovation linkages.

4. Scoring and Weightage
Each pillar consists of several indicators, and the overall GII score is derived from a weighted average of these indicators. The final ranking combines the scores of both the Innovation Input and Output Sub-Indices.

5. Release Date and Frequency
The GII is published annually, with the latest report being GII 2024. Data for each edition is collected and analyzed throughout the preceding year.

6. Significance and Global Impact
The GII serves as an authoritative tool for assessing innovation performance. It aids countries in identifying improvement areas, developing strategic plans, and fostering competitive advantages in the global marketplace. Governments and businesses often align their policies and investments with the insights provided by the GII.

7. Criticisms
Despite its broad acceptance, the GII has faced critiques for including factors like “Ease of Paying Taxes” and “Electricity Output,” which some argue may not be directly tied to innovation.

India’s Performance in the Global Innovation Index 2024

In GII 2024, India significantly improved its position, ranking 39th among 133 economies. This consistent progress highlights India’s commitment to fostering an innovation-centric environment.

• Current Rank: India is ranked 39th globally and leads among lower-middle-income economies.
• Improvement Over the Years: India has risen 42 spots in the last nine years, from 81st in 2015.
• Regional Leadership: It stands out as a leader among 10 economies in Central and Southern Asia.
• Key Contributors: Major cities like Mumbai, Delhi, Bengaluru, and Chennai are recognized as top global Science and Technology (S&T) clusters, contributing significantly to R&D.
• Significance: India’s performance illustrates its growing innovation capability, driven by strong leadership, a dynamic start-up ecosystem, and contributions from both public and private sectors.

This recognition positions India as a prominent player in global innovation, particularly among developing economies.

Frequently Asked Questions (FAQs)

Q1. What is the Global Innovation Index?
Answer: The Global Innovation Index (GII) is an annual ranking that assesses countries based on their innovation capabilities and success, helping them improve their innovation ecosystems.

Q2. How does India rank in the GII 2024?
Answer: India ranks 39th in the Global Innovation Index 2024, showing significant progress in innovation and economic development among lower-middle-income economies.

Q3. What factors contribute to a country’s GII score?
Answer: The GII score is influenced by various factors, including institutional frameworks, human capital, infrastructure, market sophistication, and business innovation.

Q4. Who publishes the Global Innovation Index?
Answer: The GII is published annually by the World Intellectual Property Organization (WIPO) in collaboration with Cornell University and INSEAD.

Q5. Why is the GII important for countries?
Answer: The GII helps countries identify areas for improvement, develop strategic plans, and enhance their competitive advantages in the global market.