India has made significant strides in the global innovation landscape, climbing 42 spots over the past nine years to secure the 39th position in the Global Innovation Index (GII) 2024. This remarkable achievement underscores the country’s growing influence and leadership in fostering an innovative ecosystem.
In 2015, India was ranked 81st in the GII. Fast forward to 2024, and the nation has ascended to the 39th position among 133 economies evaluated. This leap is a testament to the concerted efforts of the Indian government, industry leaders, and innovators who have worked tirelessly to create an environment conducive to innovation.
Several factors have contributed to India’s rise in the GII rankings:
1. Government Initiatives: Programs like ‘Startup India’, ‘Digital India’, and ‘Make in India’ have played a pivotal role in nurturing a culture of innovation and entrepreneurship.
2. Investment in R&D: Increased investment in research and development has spurred technological advancements and innovation across various sectors.
3. Educational Reforms: Enhancements in the education system, particularly in STEM (Science, Technology, Engineering, and Mathematics) fields, have equipped a new generation of innovators with the skills needed to excel.
4. Public-Private Partnerships: Collaboration between the government and private sector has led to the development of cutting-edge technologies and solutions.
How the Ranking is Determined
The Global Innovation Index is compiled annually by the World Intellectual Property Organization (WIPO). The GII ranks countries based on their innovation capabilities and outcomes, using a comprehensive framework that includes 81 indicators grouped into seven key pillars:
1.Institutions: Political, regulatory, and business environment.
2.Human Capital and Research: Education, tertiary education, and research & development.
3.Infrastructure: Information and communication technologies, general infrastructure, and ecological sustainability.
4.Market Sophistication: Credit, investment, and trade & competition.
5.Business Sophistication: Knowledge workers, innovation linkages, and knowledge absorption.
6.Knowledge and Technology Outputs: Knowledge creation, impact, and diffusion.
7. Creative Outputs: Intangible assets, creative goods and services, and online creativity.
India’s innovation prowess is not just limited to its borders. The country ranks first among the 38 lower-middle-income economies and is the top performer in Central and Southern Asia. Major cities like Mumbai, Delhi, Bengaluru, and Chennai are now recognized among the world’s top 100 Science & Technology clusters.
Union Minister Piyush Goyal attributes this success to the decisive leadership of Prime Minister Narendra Modi and the country’s unwavering focus on innovation. As India continues to climb the ranks, it is poised to become a global leader in innovation, driving technological and economic progress not just domestically, but worldwide.
India’s journey from the 81st to the 39th position in the Global Innovation Index is a story of resilience, strategic planning, and relentless pursuit of excellence. As the nation continues to foster an environment of innovation, the future looks promising for India’s role on the global stage.