The government had boasted of achieving 87th position previous year, "The improvement in ranking has been driven largely by major improvements in education".
India's 2017 ranking is 10 notches below its 2016 ranking.
However, the education-specific gender gap could be reduced to parity within the next 13 years.
Speaking about Iceland's success and what other countries can learn from it, Magnea Marinósdóttir, Equality Unit, Ministry of Welfare, Iceland said, "the success can be attributed to women taking power and creating alternatives to the male dominant "truths" and making the invisible realities of women visible, most importantly discriminatory practices including sexual harassment and abuse".
At this rate of progress, it will take another century to close the overall global gender gap, compared to 83 years last year. However, at the current rate of progress, the gender gap will take almost 100 years to bridge, WEF said. "The UAE is now very close to closing its gender gap in educational attainment", the WEF said.
The organization's annual report tracks the disparities between the sexes in four areas: education, health, economic opportunity and political empowerment. Given the continued widening of the economic gender gap, it will now not be closed for another 217 years. And the country dropped from first to 31st in an index of economic participation and opportunity for women.More news: United Kingdom manufacturing growth was stronger in October, says PMI survey
More positively, Switzerland does record a modest positive increase on the wage equality for similar work indicator.
"There is a paid work gender gap and there is an unpaid gender gap, basically the fact that are lot more women are spending a lot more of their day on unpaid work like family responsibilities than men", Zahidi explains.
The reason the Netherlands managed to get 32nd place this year, is because the country is 1st on the list when it comes to gender equality in education.
Last year's report lauded the Republic for "improvements" on political empowerment due to an increase in the number of women in parliament.
According to the Global Gender Gap Report 2017, South Korea scored 0.65 points, coming between Tunisia at No. 117 and Gambia at No. 119. The most challenging gaps are in economy and politics, according to the report. The next two countries in the Index, Nicaragua (6) and Slovenia (7), also achieve symbolic milestones this year closing 80 percent of their gaps for the first time.
The WEF added the gap between Iceland and the second-placed country, Norway, actually widens as both Norway and third-placed Finland saw their gaps widen this year.