Union Minister Piyush Goyal said that India has risen to 39th place out of 133 global countries in the Global Innovation Index (GII) 2024

Description

Union Minister Piyush Goyal said that India has risen to 39th place out of 133 global countries in the Global Innovation Index (GII) 2024. India is rated first out of ten Central and Southern Asian economies, and it led the lower-middle-income economies category. The country was ranked 81st in 2015 but has risen to 39th because to its vibrant innovation ecosystem, which is fuelled by entrepreneurs, startups, and public-private collaborations.

Key Achievements

India ranks first in Central and Southern Asia and fourth among lower-middle-income nations in WIPO's Science and Technology Cluster Rankings, with cities such as Mumbai, Delhi, Bengaluru, and Chennai among the world's top 100 S&T clusters. India is ranks seventh globally in terms of intangible asset intensity.

Global Performance Overview

India's steady rise is part of a larger innovation trend, with China, Turkey, Vietnam, and the Philippines among the quickest risers over the last decade. Switzerland, Sweden, the United States, Singapore, and the United Kingdom continue to lead the globe in innovation.

Sector-Specific Insights

India has made great progress in areas such as sanitation and electric mobility. Notably, electric vehicle sales in India are expected to triple by 2022, thanks to companies such as Tata Motors and government incentives. India's strengths include ICT service exports, venture capital, and intangible assets, which have helped position the country as a worldwide innovation leader.

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