India Rises to 39th in Global Innovation Index 2024
India has made significant progress in the Global Innovation Index (GII) over the last nine years, moving up 42 positions to rank 39th globally in 2024. This improvement is particularly notable as India is now the top-ranked country among the 38 lower-middle-income economies.
Key Achievements
Union Minister Piyush Goyal attributed this success to the decisive leadership of Prime Minister Narendra Modi and the country’s focus on fostering an environment conducive to innovation. In a social media post, the minister highlighted India’s achievements:
- 1st among 10 economies in Central and Southern Asia
- 1st among lower-middle-income economies
- 4th in the World Intellectual Property Organization (WIPO) Science and Technology (S&T) Cluster Ranking
Regional and Global Recognition
India’s major cities, including Mumbai, Delhi, Bengaluru, and Chennai, are listed among the world’s top 100 S&T clusters, serving as hubs for research, development, and technological advancements. Additionally, India has achieved the 7th rank globally in intangible asset intensity, which measures the strength of non-physical assets like patents and trademarks.
Indian innovators and entrepreneurs are playing a crucial role in transforming the nation’s innovation landscape, making it a global leader in several key areas of technological development and research.
Doubts Revealed
Global Innovation Index -: The Global Innovation Index is a ranking of countries based on how well they support and create new ideas and technologies.
Lower-Middle-Income Economies -: Lower-middle-income economies are countries where people generally earn a moderate amount of money, not too high or too low.
Union Minister -: A Union Minister is a member of the government in India who is in charge of a specific department, like education or health.
Piyush Goyal -: Piyush Goyal is an important leader in the Indian government who helps make decisions about the country’s economy and trade.
Prime Minister Narendra Modi -: Narendra Modi is the current Prime Minister of India, which means he is the head of the government.
Central and Southern Asia -: Central and Southern Asia is a region that includes countries like India, Pakistan, and Bangladesh.
WIPO -: WIPO stands for the World Intellectual Property Organization, which helps protect and promote new ideas and inventions around the world.
Science and Technology Cluster Ranking -: This ranking lists the best places in the world where science and technology are growing and improving.
S&T clusters -: S&T clusters are areas in cities where many science and technology companies and research centers are located.