India has climbed 42 positions in the Global Innovation Index over the past nine years, now ranking first among lower-middle-income economies and 39th globally. This improvement is attributed to Prime Minister Narendra Modi’s leadership and the country’s focus on fostering innovation. Major cities like Mumbai, Delhi, Bengaluru, and Chennai are among the world’s top 100 S&T clusters.
Share of new-to-credit customers rises to 50% in June 2026 from 24% in June 2016: TransUnion CIBIL-FIDC report
NBFCs now account for half of India’s new-to-credit (NTC) borrowers, up from 24% in 2016, according to a TransUnion CIBIL-FIDC report covering about 2,000 NBFCs.