According to the annual  Global Innovation Index (GII) 2023 by the World Intellectual Property Organisation (WIPO), India retained its 40th position with a score of 38.1.Thus globally which country has been ranked as the world’s top innovative economies in 2023/

Solution

  According to the annual  Global Innovation Index (GII) 2023 by the World Intellectual Property Organisation (WIPO), India retained its 40th position with a score of 38.1, due to its vibrant start-up ecosystem, knowledge capital and the work done by public and private research organisations. India also retained its top position in the lower-middle-income group and the Central and South Asian region.   India, the Republic of Moldova and Vietnam are each innovation overperformers for 13 years in a row. Meanwhile, Switzerland (1st place), followed by Sweden, United States, United Kingdom and Singapore are the world’s top innovative economies in 2023. Barring China (12th place), no other middle or lower-middle-income economy features in the top 30.    Of the 80 indicators, India holds top rankings in key indicators such as Information and Communication Technology (ICT) services exports (5th place), venture capital (VC) received (6th place), graduates in science and engineering (11th place) and global corporate Research and Development (R&D) investors (13th place).