India Climbs to 39th in Global Innovation Index 2024

New Delhi, September 27, 2024 – India has achieved a significant milestone by climbing to the 39th position among 133 global economies in the Global Innovation Index (GII) 2024. This remarkable achievement was announced by Union Commerce and Industry Minister Piyush Goyal, who highlighted India’s innovative progress under the leadership of Prime Minister Narendra Modi.

India now ranks first among the 10 economies in the Central and Southern Asia region and leads the lower-middle-income economies. Additionally, India has secured the 4th position in the World Intellectual Property Organization (WIPO) Science & Technology (S&T) Cluster Ranking. Major cities like 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.

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This rise in the GII ranking is notable, as India was ranked 81st in 2015. The GII 2024 evaluates the innovation ecosystem performance of 133 economies and tracks the latest global innovation trends, serving as a reliable tool for governments to assess innovation-led social and economic changes.

According to WIPO’s 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, initiated in 2007 by INSEAD and World Business, provides a comprehensive measure of global innovation.