In a significant leap, India has climbed to the 39th position in the Global Innovation Index 2024, moving up one spot from its 40th rank in 2023. This progression highlights India’s growing stature as a leader in innovation, particularly among lower-middle-income economies, where it has secured the top position. Over the past nine years, India has seen a remarkable improvement, jumping 42 places since 2015, when it was ranked 81st.
The Global Innovation Index, released in Geneva, evaluates the innovation performance of 133 global economies, providing insights into their strengths and weaknesses in promoting innovation. India’s consistent rise in the rankings is a testament to its focus on research, technology, and a supportive ecosystem for innovation.
India Ranks 39th in Global Innovation Index
One of the most notable achievements for India in this year’s rankings is its position as the leading country among 38 lower-middle-income economies. This underscores India’s role in driving innovation within its income group and demonstrates its capacity to outperform even wealthier nations in terms of fostering technological progress.
Major Cities Listed in World’s Top Science and Technology Clusters
In addition to its improved ranking, major Indian cities—Mumbai, Delhi, Bengaluru, and Chennai—have been listed among the top 100 science and technology clusters globally. These cities have emerged as hubs of research, development, and technological advancement, further strengthening India’s position on the world stage.
The inclusion of these cities is a reflection of India’s burgeoning innovation ecosystem, which is powered by its robust IT industry, a growing startup culture, and a strong emphasis on scientific research.
Global Rank in Intangible Asset Intensity
India has also achieved the 7th rank globally in intangible asset intensity, a critical metric that measures the strength of non-physical assets like intellectual property, patents, and digital products. This indicates India’s growing contribution to the global innovation economy and its ability to convert innovative ideas into valuable assets.
A 42-Place Leap in Nine Years
India’s innovation journey has been one of continuous improvement. From 81st place in 2015 to 39th place in 2024, the country has made an impressive leap of 42 positions in just nine years.
Furthermore, India holds the top spot among 10 countries in Central and Southern Asia and remains the leading nation among lower-middle-income countries. These rankings reflect India’s ability to harness its demographic advantage, entrepreneurial spirit, and technological advancements to become a global innovation leader.
Science and Technology Cluster Ranking: India in 4th Place
In the Science and Technology Cluster Rankings, India has secured the 4th position, showcasing its rapid progress in research and technological development. This ranking reinforces India’s commitment to fostering innovation across sectors, ensuring it remains a key player in the global innovation landscape.
With these achievements, India’s innovation trajectory is poised to continue its upward momentum, paving the way for new breakthroughs and solidifying its status as a global leader in science and technology.