India has climbed one place in the Global Innovation Index to reach 39th position among 133 economies of the world. According to the GII Ranking-2024 released in a report of the Geneva-based World Intellectual Property Organization, India is ranked 39th. Whereas last year it was ranked 40th. Commerce and Industry Minister Piyush Goyal said in a post on the social media platform 'X', "India has moved up to 39th position among 133 global economies in the Global Innovation Index 2024. India's innovation landscape continues to flourish, driven by our innovators and entrepreneurs.''

We are at the forefront of lower-middle income economies

According to the report, the continuous improvement in the GII ranking is due to knowledge capital, vibrant startup ecosystem and the work of public and private research organizations. The GII is a trusted tool used by governments around the world to assess innovation-based social and economic changes in their countries. According to the report, India is at the forefront among low-middle income economies. It has a record of performing well on the innovation front for the 14th consecutive year.

these are on top

According to the Global Innovation Index-2024, Switzerland, Sweden, the US, Singapore and the UK are the most innovative economies in the world. While China, Turkey, India, Vietnam and the Philippines are the fastest growing countries. China has reached 11th place in the ranking of more than 130 economies of the world. It is the only middle-income economy in the top-30. The GII is a global standard that reflects global innovation trends to help policymakers, business leaders and others improve lives and address shared challenges such as climate change.