Global Innovation Index 2024 | 04 Oct 2024

Source: PIB 

Recently, India secured 39th position among 133 global economies in the Global Innovation Index 2024. In 2023, India ranked 40th rank out of 132 economies. 

• Global Innovation Index: 
  • The Global Innovation Index serves as a key reference for evaluating the performance of an economy's innovation ecosystem. 
  • It is published annually by the World Intellectual Property Organization (WIPO) and acts as a valuable benchmarking tool for policymakers, business leaders, and other stakeholders. 
• World Intellectual Property Organization (WIPO): 
  • It serves as the global forum for Intellectual Property (IP) services, policy, information, and cooperation. 
  • It is a self-funding agency of the United Nations, comprising 193 member states. 
  • The organisation aims to develop a balanced and effective international IP system that fosters innovation and creativity for everyone's benefit. 
  • WIPO's mandate, governing bodies, and procedures are outlined in the WIPO Convention, which was established in 1967.

Read More: Global Innovation Index 2023