The article explains the insights of the Global Innovation Index, which aims to rank the different countries based on various aspects like technology, financial conditions, areas of improvement, and many more. Rishabh has written this article, and our well-reputed faculty Prateek Tripathi reviews it.
- Top Innovative Economies: Switzerland tops the list as the most innovative economy in 2023, followed by Sweden, the United States, the United Kingdom, and Singapore. Singapore has notably entered the top five and leads the South East Asia, East Asia, and Oceania (SEAO) region.
- Top Science and Technology Clusters: The top Science and Technology innovation clusters in 2023 include Tokyo–Yokohama, Shenzhen–Hong Kong–Guangzhou, Seoul, Beijing, and Shanghai- Suzhou. China now boasts the largest number of clusters globally, surpassing the United States.
KEY HIGHLIGHTS RELATED TO INDIA:
- Overall Ranking and Growth: India has achieved the 40th position in the GII 2023, significantly climbing from its 81st spot in 2015. This underscores India’s consistent and substantial growth in innovation over the past eight years.
- Leading in Lower-Middle-Income Countries: India secures the top position among 37 lower-middle-income countries and leads among the 10 economies in Central and South America in terms of innovation.
- Strong Innovation Landscape: India’s innovation landscape is bolstered by notable achievements in various key indicators, including ICT services exports, venture capital investments, the number of graduates in science and engineering, and global corporate R&D investors.
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