The national flag of India.
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India retained its 40th rank out of 132 economies in the Global Innovation Index (GII) 2023 rankings, according to a report by the Geneva-based World Intellectual Property Organization.
Government think tank NITI Aayog said in a statement on Thursday that India has been on a rising trajectory over the past several years in the GII -- from 81st position in 2015 to 40 this year.
The consistent improvement in the GII ranking is owing to the immense knowledge capital, vibrant start-up ecosystem, and the amazing work done by the public and private research organisations, it added.
According to the statement, the GII is a reliable tool for governments across the world to assess the innovation-led social and economic changes in their respective countries.
Over the years, the GII has established itself as a policy tool for various governments and helped them to reflect upon the existing status quo, the statement added.