India has ranked 39th among 133 economies in the Global Innovation Index (GII) 2024. According to the report of the Geneva-based World Intellectual Property Organization (WIPO), India was ranked 40th in this index last year. The innovation environment in India is getting strengthened due to innovators (inventors) and entrepreneurs. The continuous improvement in the GII ranking is due to our knowledge wealth, vibrant start-up ecosystem and the excellent work of public and private research organizations.
The GII is a reliable tool through which governments around the world can see how new inventions and technology are bringing social and economic change in their countries. It is used by policy makers and business personalities. According to WIPO, Switzerland, Sweden, the US, Singapore and the UK are the most innovative economies in the world. China, Turkey, India, Vietnam and the Philippines are the countries that have made the fastest progress in the region over the past ten years. China ranks 11th and is the only middle-income economy to rank in the top 30.
