Union Minister Piyush Goyal attributed this achievement to the decisive leadership of Prime Minister Narendra Modi and the country’s commitment to fostering an environment conducive to innovation.

In a social media post on ‘X,’ Goyal stated, “Guided by PM @NarendraModi ji’s decisive leadership, India achieves these remarkable milestones: 1st among 10 economies in Central and Southern Asia, 1st among lower-middle-income economies, and 4th in @WIPO Science & Technology (S&T) Cluster Ranking.”

Goyal highlighted India’s position as the top-ranked nation among the 10 economies in Central and Southern Asia, underscoring its regional dominance in innovation.

India has also achieved the 4th rank in the Science and Technology (S&T) Cluster Ranking. Major cities such as Mumbai, Delhi, Bengaluru, and Chennai are ranked among the world’s top 100 science and technology clusters, serving as hubs for research, development, and technological advancements.

Additionally, the country secured the 7th rank globally in intangible asset intensity, which measures the strength of non-physical assets such as patents and trademarks that are essential for driving innovation. 

The GII 2024 highlights Switzerland, Sweden, the United States, Singapore, and the United Kingdom as the world’s most innovative economies. China, Turkiye, India, Vietnam, and the Philippines emerged as the fastest climbers over the past decade.

In the ranking of over 130 economies, China reached the 11th position and remains the only middle-income economy in the GII top 30.

The Global Innovation Index serves as a benchmark resource that charts global innovation trends, guiding policymakers, business leaders, and others in unleashing human ingenuity to improve lives and address shared challenges, including climate change.