India’s rise to the 39th position in the Global Innovation Index (GII) 2024 is a significant milestone,
placing the country among the world’s most innovative economies. This leap forward reflects India’s dedication to nurturing a robust innovation ecosystem, driven by strong policies, government support, and increasing investment in research and development (R&D). The achievement is particularly notable, highlighting India’s rapid transformation from a developing economy to a global hub of technological and scientific advancements.
Various government initiatives have supported the country’s journey toward becoming a leader in innovation. These initiatives focus on fostering entrepreneurship, technological progress, and ease of doing business. India’s impressive rise in the GII rankings signals its potential to emerge as a major player in the global innovation landscape.
India’s Innovation Journey: A Steady Ascent
India’s innovation journey over the past decade has been remarkable. In 2015, the country ranked 81st in the GII, but by 2024, it had surged to 39th. This consistent upward trajectory is a testament to the country’s focused efforts in building a vibrant innovation ecosystem. Prime Minister Narendra Modi has hailed this rise as a “remarkable feat,” highlighting the government’s commitment to fostering an environment where innovation can thrive.
The leap in rankings is a result of several key factors. India ranks first among Central and Southern Asian economies and first among lower-middle-income countries, reflecting its leadership in the region. Additionally, the country ranks fourth globally in the World Intellectual Property Organization’s (WIPO) Science & Technology (S&T) Cluster Ranking. Cities like Mumbai, Delhi, Bengaluru, and Chennai are among the world’s top 100 S&T clusters, solidifying India’s status as a global innovation leader.
Moreover, India stands seventh globally in intangible asset intensity, excelling in innovation outputs, where it has improved its position to 33rd. These metrics underscore India’s growing strength across multiple sectors, from technology to scientific research, and reinforce its leadership in innovation on the global stage.
India’s Innovation in a Global Context
In the 2024 edition of the GII, traditional innovation powerhouses such as Switzerland, Sweden, the United States, Singapore, and the United Kingdom retained their top positions. However, India’s rapid rise, along with that of China, Turkey, Vietnam, and the Philippines, demonstrates a shift in the global innovation landscape. These economies have been recognised as some of the fastest-rising in terms of innovation, reflecting a changing balance in global economic power and technological leadership.
The Global Innovation Index, launched in 2007 through a collaboration between INSEAD and World Business magazine, comprehensively evaluates global innovation trends. It has become a benchmark for measuring economies’ innovation capabilities worldwide, guiding policymakers, business leaders, and innovators in fostering environments that unleash human ingenuity.
Key Initiatives Driving India’s Innovation Growth
India’s remarkable performance in the GII results from various government-led initiatives designed to foster a thriving culture of innovation and entrepreneurship. Among these, the Start-Up India initiative, launched in 2016, stands out as a key driver of the country’s innovation ecosystem. The initiative focuses on nurturing entrepreneurship, building a strong startup ecosystem, and transforming India into a nation of job creators rather than job seekers. As of September 2024, over 1,49,000 entities have been officially recognised as startups, further solidifying India’s credentials as a global innovation hub.
Another flagship initiative, the Digital India program, aims to transform India into a digitally empowered society and knowledge-based economy. This program has laid the groundwork for India’s technological advancements and innovation potential by focusing on digital infrastructure, governance, and citizen empowerment.
The Atal Innovation Mission (AIM), established in 2016, has also played a pivotal role in promoting a culture of innovation across the country. AIM fosters problem-solving and entrepreneurial thinking from a young age, establishes innovation labs in schools, and creates startup incubation centres. AIM has established 10,000 Atal Tinkering Labs in schools, and more than 3,500 startups have been incubated under its framework, creating over 32,000 jobs.
These programs are supported by sustained efforts to enhance collaboration between academia, industry, and government institutions, leading to a thriving innovation ecosystem that spans multiple sectors. India’s focus on improving infrastructure, protecting intellectual property rights, and encouraging public-private partnerships has driven its rapid innovation growth.
The Road Ahead: India’s Innovation Trajectory
India’s remarkable rise in the Global Innovation Index reflects its achievements and signals its future potential. With continued policy support and an evolving talent pool, India is well-positioned to maintain its leadership among lower-middle-income economies and become a global innovation powerhouse. The country’s focus on expanding its capabilities in emerging technologies such as artificial intelligence, blockchain, and renewable energy will be critical in shaping the future of its innovation landscape.
Moreover, India’s emphasis on inclusive growth through innovation ensures that technological advancements are not limited to a few sectors or regions but benefit the broader economy. This focus on inclusivity will be crucial as India seeks to leverage its innovation capabilities to drive economic growth, create jobs, and address societal challenges such as climate change and healthcare.
India’s ascent in the Global Innovation Index 2024 underscores its strategic focus on innovation as a critical driver of its economic growth and global competitiveness. As India continues to build on its successes, it is poised to play an increasingly important role in shaping the future of global innovation, driving advancements that have the potential to transform industries and improve lives around the world.
