'Second Position In Phone Manufacturing': How India's Business, Competitive And Innovation Ranking Improved Over A Decade

Over the past decade, India has solidified its position as the world’s fifth-largest economy, making significant strides in logistics, innovation, security, and cyber security, according to government sources.

“Achievements under Prime Minister Narendra Modi’s leadership have propelled India’s global rankings and redefined its role in the international arena,” a government statement highlighted.

India’s progress in global indices underscores its transformation. Between 2015 and 2018, the nation climbed 42 places on the Ease of Doing Business Index, becoming a preferred destination for global investments.

Similarly, on the Global Competitiveness Index (GCI), India rose to reach 39th position from 71st in 2018, driven by advancements in infrastructure, market size, and innovation.

In aviation, India’s safety oversight mechanism improved dramatically, reaching 48th position in 2022, ahead of China, Israel, and Denmark. By 2024, India ranked among the top four nations with the largest foreign exchange reserves, exceeding $700 billion.

Foreign direct investment (FDI) inflows further underscored India’s economic momentum. Between April 2014 and September 2024, the country recorded $709.84 billion in FDI, constituting nearly 69 per cent of the total inflows over the past 24 years.

“In manufacturing, India emerged as the world’s second-largest producer of crude steel, trailing only China, and also secured the second position in mobile phone production, solidifying its status as a manufacturing hub,” the statement said.

India’s reputation as a global innovation hub has also grown. In the Global Innovation Index 2024, the country climbed to 39th place in 2015. It also advanced by 11 spots in the Network Readiness Index 2024, ranking among the top 50 nations.

India now leads globally in AI talent, ICT services exports, and AI scientific publications while ranking second in FTTH (Fibre to the Home) subscriptions and mobile internet traffic.

The education sector saw notable progress, with seven Indian institutions making it to the top 100 in the QS World University Rankings - Asia 2025.