New Delhi witnessed a bold declaration from Union Minister of State Dr. Jitendra Singh on Saturday, as he outlined India’s meteoric rise from being labeled among the ‘Fragile Five’ economies in 2014 to now standing tall as the world’s fourth-largest economy. This transformation, he emphasized, reflects a profound shift in the nation’s confidence, capabilities, and strategic direction.
Speaking at the P. Parameswaran Memorial Lecture in Kaudiyar, Thiruvananthapuram, Dr. Singh asserted that India is steadfastly marching towards becoming the third-largest economy in the near future, with the ultimate vision of achieving ‘Viksit Bharat’ by 2047. ‘The journey ahead is clear, and our momentum is unstoppable,’ he declared.
Highlighting innovation leaps, he noted India’s climb from 81st to 38th in the Global Innovation Index since 2014. The startup ecosystem has exploded, with over 200,000 startups now generating more than 2.1 million jobs. What began as a novel ‘Startup India’ initiative in 2015 has evolved into a nationwide revolution.
Remarkably, nearly half of these startups hail from Tier-2 and Tier-3 cities, with a significant portion led by women entrepreneurs. Dr. Singh pointed to this as evidence of evolving perceptions on women’s empowerment. Today, women scientists and innovators are spearheading key national missions in space, science, and governance.
In research, India ranks sixth globally in patent filings, with over 60% from domestic applicants. Scientific publications place the country among top nations, with thousands of Indian researchers in the world’s top 2% scientists list. This underscores the global recognition of Indian scientific talent.
Policy reforms have unlocked private sector participation, turbocharging the space economy, bolstering indigenous capabilities in defense and advanced tech, boosting exports, and fortifying self-reliance. Looking ahead, ocean resources, deep-sea minerals, and biodiversity exploration will be pivotal for economic value addition.
Dr. Singh concluded by inspiring the youth: ‘Viksit Bharat will be shaped by today’s young generation.’ India’s economic ascent is not just numbers—it’s a story of resilience, innovation, and unyielding ambition.