India has moved up to 39th place among 133 global economies in the Global Innovation Index (GII) 2024.
Union Commerce and Industry Minister Piyush Goyal announced that India also ranks first among the 10 economies in the Central and Southern Asia region. In a social media post, Mr Goyal highlighted the remarkable achievements under the guidance of Prime Minister Narendra Modi’s decisive leadership. He said, India also ranked 1st among lower-middle-income economies, and 4th in the World Intellectual Property Organization (WIPO) Science & Technology (S&T) Cluster Ranking. Mr Goyal said, Mumbai, Delhi, Bengaluru, and Chennai are listed among the World’s Top 100 S&T clusters, and India is 7th globally in intangible asset intensity.
India’s rise in the GII ranking is notable, as the country was ranked 81st in 2015.
The GII 2024 evaluates the innovation ecosystem performance of 133 economies and tracks the latest global innovation trends. It is considered a reliable tool for governments to assess innovation-led social and economic changes in their countries.
According to the World Intellectual Property Organization’s (WIPO) GII 2024, Switzerland, Sweden, the US, Singapore, and the UK are the world’s most innovative economies, while China, Turkey, India, Vietnam, and the Philippines are the fastest climbers over the past decade.
The GII, which started in 2007 by INSEAD, a business school, and World Business, a British magazine, provides a comprehensive measure of global innovation.
