India’s rank one notch up on Global Innovation Index 2024

New Delhi: India’s position rose one notch to 39th among 133 global economies in the Global Innovation Index 2024.

India leads the lower middle-income group and holds top ranking within the Central and Southern Asia region for Knowledge and technology outputs, Creative outputs, Institutions and Business sophistication.

“India’s innovation landscape continues to flourish, powered by our innovators and entrepreneurs,” commerce and industry minister Piyush Goyal said in a post on X.


Last year, the country ranked 40th on the index released by the World Intellectual Property Organization (WIPO).

Switzerland continued to top the ranking followed by Sweden, the US and Singapore.

“India’s strengths lie in key indicators such as ICT services exports, Venture capital received and Intangible asset intensity,” the WIPO said, adding that India’s unicorn companies secure the country the 8th rank globally.

The consistent improvement in the GII ranking is owing to the knowledge capital, vibrant start-up ecosystem, and the amazing work done by the public and private research organisations.

The index is a tool for governments across the world to assess the innovation-led social and economic changes in their respective countries.

Samsung Electronics in Bengaluru and Indian Institute of Science (IISC)-Bangalore figure in the top 100 science and technology clusters in the index. S&T clusters in Delhi, Chennai and Mumbai have also made it to the top 100 list.

“Clusters located in other middle-income economies besides China also experienced strong S&T output growth,” WIPO said.

Chennai with 7.8% and Istanbul (Türkiye) with 7.5% also had a high rate of growth for this group, it said.

India, along with Moldova and Vietnam continued to lead as the longest-standing innovation overperformers, for the 14 consecutive year.

Switzerland, Sweden, the US, Singapore and the UK are the world’s most-innovative economies, while China, Türkiye, India, Vietnam and the Philippines are the fastest 10-year climbers.

In Central and Southern Asia, India continues to lead, moving one spot forward.