Summary:

According to the World Intellectual Property Organisation, India's standing in the Global Innovation Index (GII) 2024 has risen to 39th out of 133 economies, up from 40th last year. Commerce and Industry Minister Piyush Goyal celebrated this milestone on social media, emphasising the contributions of Indian inventors and entrepreneurs to the innovative scene.

The Global Innovation Index (GII) is an important tool for analysing innovation-driven societal and economic transformations. Switzerland, Sweden, the United States, Singapore, and the United Kingdom lead the world in terms of innovation. India, along with China, Turkey, Vietnam, and the Philippines, has been among the quickest growers during the last decade. India leads Central and Southern Asia in innovation, excelling in ICT service exports and venture capital, ranking first in ICT exports and eighth in unicorn firms for the past 14 years, indicating its dedication to innovation.

Source: IBEF

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