India Secures 40th Place In 2023 Global Innovation Index: Here’s How It Is Calculated

India has ranked 40th among 132 economies in the 2023 Global Innovation Index rankings released by the World Intellectual Property Organisation.

For the 13th consecutive year, Switzerland maintains its top position in the index. Sweden has moved up to second place, with the United States following closely in third position.

The United Kingdom holds the fourth spot, and Singapore rounds out the top five.

The Global Innovation Index relies on an extensive dataset, comprising 80 indicators gathered from various international public and private sources.

The index is determined after gauging elements of the economy that enable and facilitate innovative activities, like human capital, infrastructure, institutions and market sophistication.

It also accounts for the technology and creative output of the innovative activities within the economy.