India moves up one spot to 39th spot in Global Innovation Index 2024 rankings
The World Intellectual Property Organization, located in Geneva, released a study titled “Global Innovation Index (GII) 2024 Rankings,” in which India moved up one spot to 39th position out of 133 economies.
Prime Minister Narendra Modi responded to the most recent event by stating that the government’s efforts to create a thriving innovation ecosystem are a significant accomplishment that have the ability to change the lives of young people.
A remarkable feat! Our Government is committed to ensuring a vibrant innovation ecosystem, which can transform the lives of the youth. https://t.co/wCAFTOYB8c
— Narendra Modi (@narendramodi) September 27, 2024
“A very amazing accomplishment! PM Modi posted on social networking site X, saying, “Our government is committed to ensuring a vibrant innovation ecosystem, which can transform the lives of the youth.”
The nation was placed forty-first the previous year.
Commerce and Industry Piyush Goyal said on X, “India rises to 39th position among 133 global economies in the Global Innovation Index 2024.”
According to him, India’s innovation scene is still thriving because of its entrepreneurs and inventors.
The impressive work being done by public and private research organizations, the thriving start-up ecosystem, and intellectual capital are all responsible for the GII ranking’s continuous development.
Governments all across the globe may examine the innovation-driven social and economic developments occurring in their individual nations with the help of the GII, a trustworthy instrument.
According to WIPO’s Global Innovation Index (GII) 2024, the countries with the most inventive economies worldwide are Switzerland, Sweden, the United States, Singapore, and the United Kingdom; the countries with the quickest 10-year climbers are China, Turkey, India, Viet Nam, and the Philippines.
In order to help corporate executives, governments, and others harness human brilliance to enhance lives and confront shared concerns, such as climate change, the GII is the world’s standard resource that charts global innovation trends.
China came in at number eleven in the GII ranking of more than 130 economies, and it continues to be the only middle-income nation in the top 30.
India (ranked 39th) is still in the lead in Central and Southern Asia, having moved up one position. In second position, down two spots, is the Islamic Republic of Iran, followed by Kazakhstan (78th). It added that Uzbekistan (ranked 83rd) continues to hold the fourth place in the area.
India is at the top of the lower middle-income category, it was said. For the fourteenth year in a row, it continues to maintain the record for outperforming in innovation.
“Key measures like venture capital received, intangible asset intensity, and ICT services exports (which rank first internationally) highlight India’s capabilities. India’s unicorn businesses also guarantee the nation’s eighth-place finish in the world,” it said.
The Indian Institute of Science (IISC) in Bangalore and Samsung Electronics in Bengaluru were two of the top 100 scientific and technology clusters in the ranking. Mumbai, Chennai, and Delhi S&T clusters have also placed in the top 100.
Clusters in middle-income nations outside China also saw a robust increase in S&T production, according to WIPO.
