The Global Innovation Index (GII) is an annual report that measures and ranks the innovation performance of countries around the world. The report is produced by the World Intellectual Property Organization (WIPO), in partnership with several other organizations and academic institutions.

The GII measures a wide range of indicators related to innovation, including factors such as research and development (R&D) investment, intellectual property protection, human capital and research, technology output, and creative outputs.

The index is designed to provide policymakers, business leaders, and other stakeholders with insights into the innovation strengths and weaknesses of different countries, as well as the policies and practices that can foster innovation and economic growth.

The importance of the Global Innovation Index lies in its ability to provide a comprehensive picture of a country's innovation performance and to highlight areas for improvement.

The index can also have a significant impact on a country's competitiveness rank, as innovation is increasingly seen as a key driver of economic growth and prosperity.

Countries that rank high on the GII are often seen as attractive destinations for investment and business growth, while those that rank low may struggle to attract investment and may face challenges in competing in the global economy.

Overall, the Global Innovation Index is a valuable tool for countries to assess their innovation performance and identify areas for improvement.

It is also an important resource for businesses and investors who are looking to identify new opportunities and potential partners in the innovation space.