New Delhi: India has made significant strides in innovation, climbing to 39th place in the Global Innovation Index (GII) 2024, marking an impressive rise of 42 positions since 2015. The GII, released by the World Intellectual Property Organization (WIPO) on September 27, highlights India's remarkable progress in creating a vibrant innovation ecosystem.
 

The country continues to lead among lower-middle-income economies, ranking first out of 38 in this category, and has been recognised as a key player in global innovation. India's innovation journey has been driven by a dynamic start-up ecosystem, robust knowledge capital, and the contributions of both public and private research organisations. Union Minister for Commerce and Industry Piyush Goyal attributed this achievement to the nation's focus on promoting innovation under the leadership of Prime Minister Narendra Modi.
 

In addition to leading the lower-middle-income group, India ranks first among 10 economies in Central and Southern Asia, and has secured the fourth spot in WIPO’s Science and Technology (S&T) Cluster Ranking, which recognises global hubs of research and technological advancement. Indian cities such as Mumbai, Delhi, Bengaluru, and Chennai have been named among the world’s top 100 S&T clusters, reinforcing the country's position as a global research hub.
 

The GII report also underscores India's strength in intangible asset intensity, where it ranks seventh globally, reflecting the growing importance of non-physical assets such as patents and trademarks in driving innovation. The country also continues to lead in ICT services exports, and its venture capital landscape has flourished, contributing to its strong performance in the rankings.
 

Globally, India has outperformed on innovation for the 14th consecutive year, positioning itself alongside other fast climbers such as China, Türkiye, Vietnam, and the Philippines. While Switzerland, Sweden, the United States, Singapore, and the United Kingdom remain the most innovative economies, India’s steady ascent demonstrates its increasing global influence in the innovation sphere. 

BI Bureau