Global Innovation Index (GII) refers to ranking of economies based on successful performance and capacity in innovation. GII has been on rising trajectory over recent past 10 years from 66 in 2011 to 46 in 2021. As the GII rank improves, the FDI (Foreign Direct Investments) inflows in India have increased. This paper has done a correlational study between these two variables. The correlation between these variables have been positive. The paper further suggests that advanced correlation and regression studies can be done by incorporating other indices like Ease of Doing Business Index, Environment Performance Index, Sustainability Index etc. The study will be useful to researchers and can be taken as guide to various developing countries to improve their indices.