Intuitionistic Fuzzy sets play an unique role to solve problems with state of uncertainty due to many uncontrollable factors. Intuitionistic fuzzy sets includes non membership function which extends fuzzy sets with membership function. The primary purpose is to generalize Even Intuitionistic Fuzzy number. The generalized value index and generalized ambiguity index formulas for even intuitionistic fuzzy number are defined. The generalized alpha and beta cuts corresponding to even intuitionistic fuzzy numbers are defined. Two indices ranking measure is proposed based on the generalized value index and generalized ambiguity index for even intuitionistic fuzzy number. Justification of the proposed ranking is illustrated with an example by solving a transportation problem which involves supply and demand as Octagonal Intuitionistic Fuzzy number

Generalized Even Intuitionistic Fuzzy Number (GEIFN), membership function (MFn), non-membership function (NMFn), generalized value index form (GVIF), generalized ambiguity index form (GAIF), alpha cut and beta cut