International leaders and scholars expressed great confidence in India’s growth story and leadership on Thursday, underscoring the country’s status as a rising global economic force.

According to analysts from around the world, India has not only improved its economy but has become a major player in determining the direction of the global economy.

India’s economic journey under Prime Minister Narendra Modi has been impressive, according to Martin Nilson Jacobi, President and CEO of Chalmers University of Technology in Sweden.

He said that India has developed a strong sense of direction, purpose, and self-assurance on the international scene.

“Prime Minister Modi’s leadership has helped India project real strength internationally, and that effort is now clearly coming together,” he said.

According to Jacobi, India made a big impression in Davos this year and has solidified its place among the world’s leading nations, along with the US, China, and Russia.

Jacobi emphasized India’s long-term potential, stating that the nation is at the forefront of the global economy due to its youthful population and growing opportunities.

He continued by saying that India’s strategic significance is further enhanced by the current geopolitical climate, which makes it a desirable location for long-term international investment, research collaboration, and innovation.

“India’s young population and strong opportunities place it at the forefront of the global economy,” he said.

According to Jacobi, “the current geopolitical conditions further enhance India’s strategic importance, making it a key destination for innovation, research collaboration, and long-term investment.”

Juila Maksim, a professor of diplomatic language at Washington University, had similar opinions, stating that India has developed into a powerful and reliable global economy.

According to her, the Indian people have made a smart leadership decision that will help steer the nation toward greater economic growth, long-term stability, and increased influence on the international scene.

“India has evolved into a strong and credible global economy,” she said.

She clarified, “The Indian people have made a smart leadership decision that will steer the nation toward greater growth, stability, and global influence.”

The Reserve Bank of India’s (RBI) GDP growth projections for 2025–2026 show that India will continue to be the world’s fastest growing major economy notwithstanding global concerns.

In an attempt to reduce the risks associated with the external sector, India has made considerable efforts to diversify and boost its exports.

The Central Bank stated in its monthly Bulletin that “the country is currently engaged in trade negotiations with 14 countries or groups, representing nearly 50 nations, including the European Union, Gulf Cooperation Council countries, and the United States.”

The resiliency of the Indian economy, propelled by home reasons amid a difficult foreign environment, was highlighted in the first advance forecasts of real GDP growth for 2025–2026.

December’s high-frequency indicators point to sustained growth impulse buoyancy and positive demand conditions.

Although headline CPI inflation increased slightly in December, it was still below the lower tolerance level.

According to the RBI study, “the flow of financial resources to the commercial sector has increased over the past year, with both non-bank and bank sources contributing to the credit pick-up.”

India concluded trade talks with Oman and New Zealand in December. Major economic reforms were also implemented in 2025, including as the deregulation of the banking sector, the enactment of labor regulations for labor market reforms, and the rationalization of tax structures, all of which are anticipated to improve growth prospects.

The Reserve Bank’s “Report on Trend and Progress of Banking in India 2024-25” highlighted the banking system’s robust profitability, enhanced asset quality, and adequate capital buffers.

The results of the most recent “Financial Stability Report,” which was published in December 2025, confirmed that banks and non-banking financial firms are resilient enough to sustain losses in unfavorable circumstances and keep capital buffers well beyond the legal minimum.

The RBI stated, “Going forward, the policy focus on striking a balance between innovation and stability, consumer protection, and a prudent approach to regulation and supervision should help improve productivity and support long-term economic growth.“

In the T20I series opener at the VCA Stadium in Nagpur on Wednesday, India defeated New Zealand by 48 runs thanks to a brilliant 84 from Abhishek Sharma, an undefeated 44 from Rinku Singh, and two wickets apiece from Varun Chakaravarthy and Shivam Dube.

Abhishek Sharma’s 84 and Rinku Singh’s undefeated 44 helped India to 238/7, their biggest T20I total against New Zealand, setting them up for victory in their preparation for the T20 World Cup next month.

New Zealand was dropped to 52/3 while chasing 239, but Glenn Phillips’ fluid 78 off 40 balls, which included six maximums and four boundaries, kept them in the running.

New Zealand ended up hitting 190/7 in their 20 overs after Mark Chapman scored 39 off 24 balls and their 79-run partnership off 42 balls momentarily raised expectations of a successful chase before both fell in rapid succession. The hosts took a 1-0 lead in the five-game series as India’s bowlers ended the match.

New-ball bowlers Arshdeep Singh and Hardik Pandya each claimed a scalp in addition to Chakaravarthy and Dube. India would be concerned about Axar Patel, who had to leave the field midway through his last over after being struck on the left hand while attempting to stop a boundary from Daryl Mitchell. Jasprit Bumrah, who had returned to the side, was out of rhythm.

Devon Conway edged behind to wicketkeeper Sanju Samson, who made a wonderful low catch to his left off Arshdeep to start New Zealand’s chase on a shaky note. Soon after, Rachin Ravindra edged Hardik for just one.

In an attempt to respond, Phillips and Tim Robinson both struck seven boundaries. However, Chakaravarthy was successful right away after being introduced in the seventh over.

Robinson was tricked in flight and given a straightforward catch to mid-wicket while attempting to go over mid-wicket. But Phillips persisted, hitting Patel for a six over mid-wicket and continuing to find boundaries. Chapman joined him and added urgency by taking on Bumrah and Chakaravarthy.

Bumrah resumed his attack and created an opportunity right away, but Rinku caught Chapman at deep backward square-leg. Soon after, Phillips reached his half-century in 29 balls. He then carried on his assault by driving Chakaravarthy for runs through the off-side and lofting him for a six over long-on.

Chapman joined in by clipping Axar for boundaries after hitting a six over wide long-on. But in the 14th over, Phillips was caught by long-on off Axar, ending a risky innings that had kept New Zealand in the hunt. Chapman continued to push boundaries, but risks were unavoidable as the asking rate increased.

After holing out to long-on off Chakaravarthy, he was dismissed in the fifteenth over. Together, Mitchell Santner and Daryl Mitchell hit six boundaries in an attempt to reignite the pursuit. However, India’s death bowlers persevered, as Dube dismissed Mitchell and Kristian Clarke on consecutive deliveries to enable India secure a convincing victory.

He was discussing it, but I haven’t noticed. However, it’s simply what we’ve been doing since Day After winning Player of the Match, Abhishek Sharma remarked, “One that we had a plan that we want to play this kind of cricket, and that’s what we are just following.”

“I think you may get an idea of where the ball is going to bowl you or even where I’m going to play my strokes if you watch videos or watch your hitting films as well. However, because I don’t have many shots, it’s always about me backing them. He continued, “It’s just a few shots, and I’m going to practice a lot about that and just execute it.”

“I think it’s always good when we get those numbers on the board, and if there’s a little bit of dew on the board, I think that’s a big positive. And the way we batted, we were 25-2 even after being under pressure in the powerplay, and then we took the game until the fifteenth over, at which point we never stopped all the batters. I mean, having eight batters seems like a decent idea. At the end of the match, India captain Suryakumar Yadav remarked, “It’s been working for me as a team, so if it’s working, let’s continue with that.”

Mitchell Santner, the captain, stated that New Zealand anticipated a difficult match against India. “I believe it was. As you mentioned, you certainly want to win the game going ahead. We had a pleasant day. At home, India is an excellent squad. We were aware of that. Their performance over the past two years has been exceptional. We had a successful game.

Brief scores:
India 238/7 in 20 overs (Abhishek Sharma 84, Rinku Singh 44 not out; Jacob Duffy 2-27, Kyle Jamieson 2-54)
New Zealand 190/7 in 20 overs (Glenn Phillips 78, Mark Chapman 39; Shivam Dube 2-28, Varun Chakaravarthy 2-37) lost by 48 runs

In the 13th game of the Women’s Premier League (WPL) 2026 at the Kotambi Stadium in Vadodara on Tuesday, Delhi Capitals defeated Mumbai Indians by seven wickets thanks to captain Jemimah Rodrigues’ undefeated 51 and outstanding opening batting from wicketkeeper-batter Lizelle Lee (46).

Rodrigues ensured that there was no late drama despite the pursuit for a modest 155 nearly faltering in the middle. With six balls remaining, she led Delhi to victory by concentrating on accurate placement and steady running between the wickets rather than using force. When it counted most, she showed leadership.

Earlier, Marizanne Kapp, who described the pitch as “not a nice wicket to bowl on,” guided Delhi in building a solid foundation with the ball.

At the beginning, Kapp was outstanding, bowling 16 dot balls. In her four overs, she conceded just eight runs and not one boundary. Sajana (9) and Hayley Matthews (12) were removed early in the Power-play as a result of her control and that of Nandani Sharma, leaving Mumbai battling at 23/2.

Nevertheless, the Mumbai team’s established qualities allowed them to establish consistency. With an undefeated 65 runs from 45 deliveries, Nat Sciver-Brunt demonstrated her loyalty once more. Harmanpreet Kaur, the captain, gave a strong effort with a score of 41.

With Sciver-Brunt scoring eight runs and Kaur scoring eighteen, the Mumbai side was in a dismal position at 47 for two wickets after nine overs at the start of the game. The two players kept improving their collaboration.

Sciver-Brunt scored her 11th half-century in this league with a 34-ball effort, and the two had combined 78 runs for Mumbai going into the third wicket stage, reaching 100 runs after 13.6 overs.

Her half-century equaled the record for the most half-centuries scored in the multi-day tournament with Meg Lanning. Thanks to 42 runs in the final 5 overs and a six off the last ball of the innings, Mumbai finished at 154 runs for 5 wickets (154/5).

At the end of the innings, Harmanpreet Kaur was 41 runs out after falling to Sree Charani. Sciver Brunt continued through the rest of the innings.

Sree Charani was a standout bowler for Delhi. She helped hold the Mumbai squad to a low total by taking three wickets for thirty-three runs, including two wickets in the eighteenth over. Kapp helped keep the Mumbai total below expectations with a 1-wicket for 8 run effort.

Shafali Verma and Lizzy Lee, Delhi’s opening duo, responded with a flawless start and swiftly put pressure back on MI.

Before losing to a difficult umpiring call, Lee seemed assured and fluid. Shafali was unable to convert her strong start into a high score. Tension was increased by Laura Wolvaardt’s unexpected resignation, and Capitals supporters may have been concerned by earlier errors.

Rodrigues took the initiative at that point. The captain produced a captain’s knock characterized by astute placing and unrelenting energy between the wickets, whether driven by focus or by Amanjot Kaur tossing the ball at her without cause.

Clearly leading the chase, she made sure Delhi kept control and calmly and confidently led her team to victory.

Vaishnavi Sharma, a WPL rookie who finished with numbers of 1 for 20, was a bright point for Mumbai. As the hunt progresses, they might need to monitor Nicola Carey’s prolonged departure from the field.

“I believed that the sprinting between the wickets was what defined our connection even before she entered. With the few people I trust, I believe I have had a few chats. All of them have advised me to take my time at first. I have a lot of experience playing on pitches like these. Thus, the goal is to get past the first ten balls. After the game, Rodrigues remarked, “I know that if I do that, batting becomes easy.”

Yes, I believe we were approximately twenty runs short at bat. We have been concerned about our inability to execute correctly, both with the bat and the ball, even during the Powerplay. After the game, Mumbai Indians captain Harmanpreet stated, “We really need to push ourselves more in that phase of the game.”

In addition to praising the Delhi Capitals’ recent victory over the Mumbai Indians and highlighting captain Jemimah Rodrigues’ calm, game-winning knock under duress, former India captain Mithali Raj also evaluated MI’s difficult road ahead against an elite Royal Challengers Bengaluru.

“I believe the Delhi Capitals will benefit greatly from this victory, particularly batter Jemimah Rodrigues. It was crucial for her to score those runs with her bat, as we talked about in the pre-show, and she persevered in the face of losing partners at the other end, Mithali said.

Brief scores:
Mumbai Indians Women 154/5 in 20 overs (Nat Sciver-Brunt 65 not out, Harmanpreet Kaur 41; Shree Charani 3-33, Marizanne Kapp 1-8)

Delhi Capitals 155/3 in 19 overs (Jemimah Rodrigues 51, Lizelle Lee 46; Vaishnavi Sharma 1-20, Amanjot Kaur 1-21) won by seven wickets.

Prime Minister Narendra Modi emphasized how India’s textile industry has evolved from a legacy sector to a potent, people-focused growth engine that embodies the genuine essence of Aatmanirbhar Bharat.

PM Modi cited an article by Union Minister Giriraj Singh that highlights the significance of new free trade agreements and the Center’s PLI programs, which are generating the next generation of jobs.

Strong local demand and growing consumption are the main drivers of India’s textile revival. India, home to more than 140 crore people, is one of the most robust textile markets in the world. According to the minister, the domestic textile market increased from approximately Rs 8.4 lakh crore to an anticipated Rs 13 lakh crore in just five years.

He added that per capita textile consumption has nearly twice over the last ten years, from over Rs 3,000 in 2014–15 to over Rs 6,000 in 2024–25, and is expected to double once again to Rs 12,000 by 2030.

This expansion driven by demand has been reflected in exports. Exports of textiles and clothing increased by almost 28% in the post-Covid era, from Rs 2.49 lakh crore in 2019–20, the year COVID hit, to over Rs 3.5 lakh crore in 2024–2025.

The Minister continued, “This dramatic comeback highlights India’s capacity to swiftly scale manufacturing as global demand returns and, crucially, to convert export growth into employment across the textile value chain.”

Additionally, the minister emphasized the significance of the PM MITRA Park initiative. Under this initiative, which aims to increase production, employment, and exports, the government anticipates investments in the textiles sector totaling Rs. 18,500 crore.

The government has approved the establishment of seven PM Mega Integrated Textile Region and Apparel (PM MITRA) Parks in greenfield and brownfield sites with an outlay of Rs. 4,445 crore for the period 2021–2022 to 2027–2028 in order to develop integrated large-scale and modern industrial infrastructure facilities for the entire value-chain of the textile industry.

Seven locations have been selected by the government to establish PM MITRA Parks: Tamil Nadu (Virudhnagar), Telangana (Warangal), Gujarat (Navsari), Karnataka (Kalaburagi), Madhya Pradesh (Dhar), Uttar Pradesh (Lucknow), and Maharashtra (Amravati).

Each PM MITRA Park is anticipated to bring in roughly Rs. 10,000 crore in investment and create over 3 lakh direct and indirect job opportunities after it is finished.

A recent report from HSBC indicated that the upcoming Union Budget for 2026-27 is expected to prominently feature a series of reforms, noting that the government seems inclined toward further changes following a number of announcements in recent months.

The central government is set to unveil its budget on February 1, with the RBI’s policy meeting occurring shortly after on February 6.

“The government is likely to concentrate on two key areas during this period – responsible spending and reforms,” the report stated.

The report anticipates that the government will achieve its fiscal deficit target of 4.4 percent of GDP for FY26. The decline in revenues resulting from tax rate cuts is expected to be partially offset by strong dividends from the RBI and PSUs, as well as reduced current expenditures.

“The pruning of programs is anticipated to assist the government in reducing its expenditures in FY27, leading us to predict a fiscal deficit of 4.2% of GDP,” stated the HSBC report.

The report also predicts that the net borrowing figure will remain unchanged at Rs 11.5 lakh crore in FY27. A substantial redemption bill (even with some switches considered) would push gross borrowing up to Rs 16 lakh crore.

“However, the increase in borrowing will still fall short of the rate of nominal GDP growth, rendering it manageable. The fiscal impact is expected to be close to neutral despite ongoing fiscal consolidation, aided by a smaller level of consolidation and higher receipts from RBI dividends once again,” the report emphasized.

This level of consolidation is progressing adequately to achieve the central government’s public debt objective for FY31.

Nonetheless, state governments might experience an increase in their public debt ratios in the coming years, as they lack a comparable path to consolidation.

Fortunately, even with states accounted for, overall gross market borrowing is projected to grow slightly less than the increase in nominal GDP (in contrast to FY26, where borrowing growth significantly outpaced NGDP), according to the report.

Domestically, “we anticipate that the deregulation initiative by both state and central governments will persist, manufacturing incentives for smaller enterprises will continue, and capital expenditure diversification will favor loans for state projects, along with some streamlining of subsidy and centrally-sponsored programs.”

“On the international side, we foresee a substantial effort to streamline customs duties, ongoing reduction of non-tariff barriers, and increased openness to foreign direct investment across various sectors,” stated the report.

The International Monetary Fund (IMF) stated on Monday that the global economy has demonstrated “notable resilience” in the face of severe trade disruptions driven by the United States and increased uncertainty. Growth is expected to remain stable at 3.3% in 2026.

According to the IMF, as the global economy “shakes off the immediate impact of the tariff shock,” aided by a reduction in trade tensions and robust investment driven by technology, global growth has remained largely constant from a year ago.

The IMF stated that, the most recent estimates show an increase of 0.2 percentage points over October forecasts, with China and the United States accounting for the majority of the improvement. Global growth is expected to reach 3.2% in 2027 and 3.3% in 2026.

Increased investment in information technology, especially artificial intelligence, has been a major factor in resilience.

According to the IMF, the proportion of US economic output devoted to IT investment has increased to its highest level since 2001, significantly boosting corporate activity and investment with favorable effects on international commerce, particularly technology exports from Asia.

According to the research, growing stock prices and new capital expenditures have been supported by favorable financial circumstances and strong profitability, even though manufacturing activity is still muted.

The IMF warned, meanwhile, that a greater reliance on debt financing has increased leverage, which might exacerbate shocks if returns don’t materialize or financial conditions tighten.

According to the Fund, as frequent equipment upgrades reduce margins and need more borrowing, profitability in the technology sector may also become susceptible to depreciation estimates for sophisticated processors.

The IMF compared the present tech bubble to the dot-com era, stating that potential overvaluation in US equity markets is “only about half that of the dot-com episode,” but cautioned that vulnerabilities still exist because gains are concentrated in a small number of AI-related enterprises.

Even as the technological boom promotes GDP in the short term, the IMF has also warned that the world economy’s increasing reliance on investments powered by artificial intelligence could expose markets to new shocks.

The IMF noted in its blog that significant investments in information technology, especially artificial intelligence, have contributed to the current expansion, but cautioned that expectations on future returns may prove brittle.

“A significant decline in real investment in the high-tech sector, as well as in spending on AI adoption in other sectors, and a more prolonged correction in stock market valuations — which have increasingly been lifted by only a few technology firms — could ensue if expectations about AI-driven productivity gains turn out to be overly optimistic and outcomes disappoint,” it stated.

The IMF claims that quick adoption of AI might greatly increase productivity and improve medium-term development prospects sooner rather than later. This could be made possible by the continuous boom in AI-related investment in both physical and soft infrastructure.

The rapid rate of invention may encourage innovative destruction and revitalize business activity. Accordingly, depending on the rate of adoption and advancements in global AI preparedness, global growth might be boosted by up to 0.3 percentage points in 2026 and by 0.1–0.8 percentage points annually in the medium term.

According to the report, if complementary policies are in place to manage workforce transitions, scale up the necessary critical intermediate inputs, and relax power supply constraints to contain the potential impact on energy prices, the benefits could be distributed throughout the economy.

According to the Fund, positive financial conditions have fueled significant increases in stock prices and corporate investment due to confidence in AI’s potential. Since late 2022, the introduction of popular generative-AI tools has coincided with a sharp increase in equities markets.

The IMF cautioned, however, that the expansion is increasingly being financed by debt financing, creating leverage in some areas of the IT industry. It stated that if financial conditions tighten or earnings fall short, higher leverage could increase the severity of shocks.

According to the survey, companies may find their profit margins squeezed by frequent upgrades of sophisticated processors due to increased financing requirements and faster depreciation. The IMF claims that these pressures demonstrate how important it is to monitor vulnerabilities associated with the rate of investment.

The IMF claimed that although the increase has been more gradual, IT investment as a percentage of output is already at levels comparable to the dot-com boom of the late 1990s.

The Fund stated that potential overvaluation in the US is roughly half of what it was during the dot-com crisis, despite the fact that market valuations have also soared.

Risks are still high, though. According to the IMF, a small number of AI-related companies have been the main drivers of equities market gains, making overall growth more vulnerable to a shift in attitude. It also highlighted the increasing significance of unlisted AI companies, whose borrowing may pose dangers not seen in previous cycles.

As a point of comparison, the IMF stated that a scenario described in its October 2025 outlook, which included tighter financial conditions and a moderate correction in AI stock values, would lower global growth by 0.4 percentage points compared to the baseline.

New Zealand’s captain, Michael Bracewell, praised his team’s historic accomplishment after they secured their first-ever ODI series victory in India, expressing that being the first team to achieve this milestone is truly significant.

Daryl Mitchell and Glenn Phillips contributed with impressive scores of 137 and 106, respectively, helping New Zealand reach a formidable total of 337/8 on a challenging black soil pitch, before the visitors managed to keep their composure to surpass Virat Kohli’s impressive 54th ODI century—124 runs off 108 balls—and bowled India out for 296 in just 46 overs.

“It’s always delightful to be here in India performing in front of such incredible fans and competing against a fantastic team. Achieving a series win here, the first for a New Zealand team, is truly significant.

“You always hold out hope when visiting to play some quality cricket. I believe we really adhered to what we know works as a team, and we managed to deliver excellent cricket in these conditions,” Bracewell stated during the post-match awards ceremony.

He also highlighted the influence of debutants on the tour and commended Daryl Mitchell for his consistency in the format. “We truly strive to collaborate as a team since we are the sum of our parts. That’s part of the Kiwi way; despite being a tiny nation at the bottom of the planet, we strive to cooperate in order to defeat some of the world’s larger nations.

“As a group, we really come together there, and it’s quite remarkable when things happen like that. For a few years now, he has been outstanding in the one-day format. He spearheaded the batting attack and performed admirably. He’s a really modest man, so it’s quite remarkable to watch him succeed and receive the credit he merits.

“It’s great when you introduce young people to international cricket and have two debutants on this tour.” It’s amazing to be able to witness how we are here and experience the masses. All three of them, especially those two rookies, have stood out and performed admirably for us, in my opinion. This tour has been especially enjoyable because of that. “It’s amazing how deep cricket is becoming in New Zealand,” Bracewell continued.

With a dominant 219-run partnership off 186 balls, with Phillips scoring 106, Mitchell and Phillips propelled the visitors to a substantial total. “It’s great to cross the line and be out there with your friends, immersed in the moment. I’m simply trying to focus on being truly present, which means that I’ll keep watching the ball and repeating that. Hopefully, I’ll make some wise choices along the way, and it’s fantastic to have some success.

“GP is a great friend, and it’s fantastic to see him reach 100 as well. As a group, we take great pride in our partnerships. Mitchell continued, “To do that with GP, who’s obviously been out injured for a long time as well, so I’m really proud of how he’s returned to what he’s doing.”

He also attributed his continued success in ODI cricket to the domestic cricket grind. “I love playing for my country, and it took me a while to get here, but I think that all those years of domestic cricket allowed me to learn my game and then figure out how I want to approach it.” He remarked, “I’m really proud to be a part of this group, and it’s pretty cool.”

Shubman Gill, the captain of India, said that his team’s performance in their 41-run defeat to New Zealand in the series final left them unhappy. He also stated that the team needs to think back and get better in preparation for more difficult tasks.

“We want to give him (Reddy) opportunities and enough overs when he’s out there and just see what kind of combinations work for us and what kind of deliveries work for him as well,” Gill said, keeping in mind the World Cup and its location.

Prime Minister Narendra Modi discussed the numerous prospects for a Viksit Bharat while highlighting the nation’s thriving startup environment that is assisting innovators in developing in an inclusive setting.

PM Modi said, “Today’s India believes in aspiration and creation, they are creating what they once used to seek.”

As the government’s Startup India project marks ten years since its inception, the prime minister was referring to an article written by the minister about the nation’s startup ecosystem.

India today has one of the biggest startup ecosystems in the world, according to Goyal’s piece published on National Startup Day.

Throughout the nation, the Startup India project has developed into a creative and inclusive ecosystem that channels young people’s entrepreneurial energy to boost employment and economic progress.

The minister added that the more than 2 lakh government-recognized enterprises in the nation that have created more than 21 lakh job opportunities are evidence of the remarkable success of the Prime Minister’s ground-breaking Startup India initiative.

Over 49,000 startups were acknowledged in 2025 alone, marking the largest yearly increase since Startup India’s founding.

“With Rs 15 lakh crore in funding boosting the industry, India is now the third largest startup ecosystem in the world,” he continued.

A key component of this process has been inclusion. Over 45% of recognized firms include at least one female director, demonstrating the significant strength of women-led entrepreneurship.

The minister noted that around half of the companies are located in non-metropolitan areas, underscoring the increasing significance of Tier 2 and Tier 3 cities as catalysts for innovation and expansion.

The increasing emphasis on innovation and deep technology over the past ten years has been a distinguishing change.

According to the minister, India’s ranking in the Global Innovation Index has improved from 81 in 2015 to 38 last year, and government backing for deep tech businesses will help it rise even further.