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India's ranking in the Global Innovation Index has improved, climbing one place to 39th rank out of 133 economies in the Global Innovation Index (GII) 2024. Last year, the country was ranked 40th. 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 GII is a reliable tool for governments across the world to assess the innovation-led social and economic changes in their respective countries. According to the World Intellectual Property Organization’s (WIPO) Global Innovation Index (GII) 2024, Switzerland, Sweden, the United States, Singapore and the United Kingdom are the world's most innovative economies, while China, Turkiye, India, Viet Nam and the Philippines are the fastest 10-year climbers. 

The report added that India leads the lower middle-income group. It holds the record for overperforming on innovation for the 14th consecutive year. It said that in Central and Southern Asia, India (39th) continues to lead, moving one spot forward. The Islamic Republic of Iran (64th, down by two places) comes second, followed by Kazakhstan (78th). Uzbekistan (83rd) retains its 4th position within the region.