NEW DELHI: India has ranked thirty ninth out of 133 economies within the World Innovation Index (GII) 2024, in accordance with a report by the Geneva-based World Mental Property Group. This marks an enchancment from final 12 months, when the nation was ranked fortieth.
“India rises to thirty ninth place amongst 133 world economies within the World Innovation Index 2024,” commerce and trade minister Piyush Goyal introduced in a submit on the social media platform X.
He stated that India’s innovation panorama continues to thrive, pushed by innovators and entrepreneurs. The advance within the GII rating is attributed to India’s data capital, a dynamic start-up ecosystem, and the outstanding contributions of each private and non-private analysis organizations.
The index highlighted that India presently leads the lower-middle-income group, having outperformed on innovation for the 14th consecutive 12 months. In line with WIPO‘s World Innovation Index (GII) 2024, the world’s most modern economies embody Switzerland, Sweden, the US, Singapore, and the UK. In the meantime, China, Türkiye, India, Vietnam, and the Philippines are the quickest climbers over the previous decade.
Within the GII rating of over 130 economies, China reached the eleventh place and stays the one middle-income financial system within the high 30.
The GII is widely known as a dependable software to evaluate innovation-driven social and financial transformations, guiding policymakers, enterprise leaders, and others in harnessing human ingenuity to deal with world challenges like local weather change.
“In Central and Southern Asia, India (thirty ninth) continues to guide, advancing by one spot. The Islamic Republic of Iran (sixty fourth, down by two locations) follows, with Kazakhstan (78th) in third place. Uzbekistan (83rd) retains its 4th place throughout the area.”
The index additionally highlighted India’s strengths in key indicators, similar to ICT providers exports (ranked 1st globally), enterprise capital acquired, and intangible asset depth. India’s unicorn corporations have helped safe the nation the eighth rank globally.
