India retains 40th rank in the Global Innovation Index 2023

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.