India’s ranking in the Global Innovation Index has improved by 42 positions over the last 9 years, with the country now ranked first among the 38 lower-middle-income economies.
According to the index released on Thursday, India holds the 39th position in the Global Innovation Index (GII) 2024, a remarkable improvement from its 81st position in 2015. The index evaluates the innovation performance of around 133 global economies, showcasing their strengths and weaknesses in fostering innovation.
One of the most notable achievements in the index is India’s position as the top-ranked country among the 38 lower-middle-income economies. This recognition highlights India’s growing leadership in innovation, particularly among developing economies, where it stands out as a driving force for technological and economic progress.
Union Minister Piyush Goyal stated that this remarkable progress in the index is due to the decisive leadership of Prime Minister Narendra Modi and the country’s focus on fostering an environment conducive to innovation.
In a social media post on ‘X’, the minister said, “Guided by PM @NarendraModi ji’s decisive leadership, India achieves these remarkable milestones: 1st among 10 economies in Central & Southern Asia, 1st among lower-middle-income economies, 4th in @WIPO Science & Technology (S&T) Cluster Ranking.”
Additionally, the minister noted that the country has been ranked first among 10 economies in Central and Southern Asia, further emphasizing its regional dominance in innovation. India has also secured the 4th position in the World Intellectual Property Organization (WIPO) Science and Technology (S&T) Cluster Ranking.
Major cities like Mumbai, Delhi, Bengaluru, and Chennai are listed among the world’s top 100 S&T clusters, which are hubs for research, development, and technological advancements.
Furthermore, the country has achieved the 7th rank globally in intangible asset intensity, which measures the strength of non-physical assets like patents and trademarks, essential for driving innovation.
Indian innovators and entrepreneurs are playing a crucial role in transforming the nation’s innovation landscape, making it a global leader in several key areas of technological development and research.