India has made remarkable strides in innovation, jumping to 39th place out of 133 countries in the Global Innovation Index (GII) 2024. This notable improvement reflects the country’s commitment to fostering an environment conducive to innovation. Union Commerce and Industry Minister Piyush Goyal announced this achievement, emphasizing India’s position as a leader in innovation within Central and Southern Asia.
Key Rankings and Achievements
- Global Position: 39th out of 133 countries
- Regional Leadership: 1st in Central and Southern Asia
- Economic Category: 1st among lower-middle-income countries
- WIPO S&T Cluster Ranking: 4th place
Additionally, four Indian cities—Mumbai, Delhi, Bengaluru, and Chennai—have been recognized among the World’s Top 100 Science & Technology clusters, showcasing their status as vibrant hubs of innovation and technological advancement.
India’s ascent in the GII is particularly impressive, considering it ranked 81st just nine years ago in 2015. This significant progress underscores India’s dedication to enhancing its innovation landscape, fostering creativity, and driving economic growth.
What is the Global Innovation Index?
The Global Innovation Index (GII) is an annual ranking that assesses countries based on their capacity for innovation. Initiated in 2007 by the World Intellectual Property Organization (WIPO), INSEAD, and Cornell University, the index evaluates 81 different factors spanning various dimensions of innovation. Switzerland has consistently topped the list, primarily due to its substantial investments in research and development (R&D).
The GII not only provides insights into the innovation capabilities of different economies but also highlights key areas for improvement, such as education, skills development, and infrastructure. By focusing on these crucial aspects, the GII offers a framework for countries to refine their innovation strategies and policies.
Global Leaders in Innovation
The GII 2024 ranks the top five most innovative countries as Switzerland, Sweden, the United States, Singapore, and the United Kingdom. Notably, India, along with China, Turkey, Vietnam, and the Philippines, has been identified as one of the fastest-growing nations in terms of innovation over the past decade.
Summing Up
India’s rise to the 39th position in the Global Innovation Index 2024 is a testament to its ongoing efforts to create a robust innovation ecosystem. As the country continues to invest in technology, education, and infrastructure, it is poised to further enhance its standing as a global leader in innovation, driving sustainable economic growth and development. This progress not only benefits India but also contributes to global innovation strategies, fostering international collaboration and knowledge sharing in the pursuit of advancement and prosperity.