 "India ascends to 39th in the Global Innovation Index 2024, showcasing its vibrant entrepreneurial spirit and commitment to innovation.")
India has made significant strides in the Global Innovation Index (GII), climbing to 39th place among 133 economies in the 2024 rankings, up from 40th last year. Union Minister Piyush Goyal announced this achievement, highlighting the role of India’s innovators and entrepreneurs in driving this progress. The rise is attributed to the country’s strong knowledge base, vibrant start-up ecosystem, and effective collaboration between public and private research organizations. In the GII, India stands out as a leader in Central and Southern Asia and maintains its position as a top performer among lower middle-income countries. Notably, India ranks first globally in ICT services exports and eighth in the number of unicorn companies.
India has made a significant leap in the Global Innovation Index (GII) 2024, climbing to the 39th position out of 133 economies, according to a recent report from the World Intellectual Property Organization (WIPO). This marks an improvement from last year’s 40th rank. Union Minister of Commerce and Industry, Piyush Goyal, shared this exciting news on social media, highlighting that India’s innovation landscape is thriving thanks to the contributions of innovators and entrepreneurs.
The report emphasizes that India’s rise in the GII is attributed to its strong knowledge base, a vibrant start-up ecosystem, and the outstanding work of both public and private research organizations. The GII serves as a valuable resource for governments worldwide, helping them gauge the impact of innovation on social and economic development.
In the global context, leading innovative economies include Switzerland, Sweden, the United States, Singapore, and the United Kingdom, while India is recognized as one of the fastest climbers over the past decade. Notably, it continues to top the lower middle-income group, demonstrating remarkable performance in key areas, including the export of ICT services and venture capital acquisition. India’s unicorns also rank the country 8th globally, showcasing its growing influence in the innovation sector.
As India continues to advance, it is clear that the country is harnessing its ingenuity to tackle pressing global challenges, including climate change and economic development.
Tags: India, Global Innovation Index, Piyush Goyal, innovation, start-ups, WIPO, economic development, ICT services, unicorns.
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What is the Global Innovation Index?
The Global Innovation Index is a ranking that measures how well countries innovate. It looks at factors like technology, education, and business environment. -
Why is India’s rise to 39th position important?
India moving to 39th position shows progress in innovation, which can boost economic growth and attract investments, making the country more competitive globally. -
What factors contributed to India’s higher ranking?
India improved in areas like research and development, digital technology, and start-up activities, helping to enhance its overall innovation environment. -
How does the Global Innovation Index affect everyday people in India?
A higher ranking can lead to better job opportunities, improved services, and more support for businesses and entrepreneurs, benefiting everyone in the country. - Is the Global Innovation Index ranking the only indicator of a country’s innovation?
No, it is one of many indicators. Other factors like industry growth, education quality, and government policies also play important roles in a country’s overall innovation health.
