India has made significant strides in its economic journey, transitioning from being one of the ‘Fragile Five’ economies in 2014 to becoming the world’s fourth-largest economy. Union Minister of State, Dr. Jitendra Singh, highlighted this transformation as a reflection of India’s enhanced national confidence, capability, and direction.
Dr. Singh emphasized India’s trajectory towards becoming the third-largest economy shortly and achieving the vision of Viksit Bharat by 2047. He noted India’s remarkable progress in various sectors, citing the country’s rise from 81st to 38th position in the Global Innovation Index since 2014.
With over two lakh startups creating more than 21 lakh jobs, India’s entrepreneurial landscape has flourished. The minister pointed out the significant contribution of startups from tier 2 and 3 cities, with a notable presence of women-led enterprises.
India’s focus on women empowerment has seen a paradigm shift, with women scientists and innovators spearheading crucial national missions in space, science, and governance. Dr. Singh highlighted India’s global standing in patent filings, ranking sixth worldwide, with a majority filed by resident Indians.
Policy reforms have paved the way for increased private sector involvement, leading to substantial growth in India’s space economy. The country has also witnessed advancements in defense and cutting-edge technologies, fostering exports and self-reliance.
Looking ahead, the exploration of marine resources, deep-sea minerals, and biodiversity is expected to drive future economic growth. Dr. Singh emphasized that the youth will shape the future of ‘Viksit Bharat.’
