New Delhi, Feb 28 (LatestNewsX) India’s journey from the ‘Fragile Five’ economies in 2014 to emerging as the world’s fourth largest economy reflects a decisive shift in national confidence, capability, and direction, Union Minister of State, Dr. Jitendra Singh, said on Saturday.
He further stated that India is now firmly on course to become the third largest economy in the near future and achieve the goal of Viksit Bharat by 2047.
Delivering the P. Parameswaran Memorial Lecture in Thiruvananthapuram, Dr Singh said that in 2014, India ranked 81st in the Global Innovation Index and has since climbed to 38th position.
The country now has over two lakh startups generating more than 21 lakh jobs. He recalled that when “Start Up India” was announced in 2015, the concept was unfamiliar to many; today, it has evolved into a nationwide movement.
Nearly half of these startups are emerging from tier 2 and 3 cities, and a significant share are women-led enterprises.
He said that the conventional discourse on women empowerment is undergoing a shift, as women scientists and innovators are leading some of the country’s most prestigious national missions in space, science and governance.
On research output, Dr Singh said India ranks sixth globally in patent filings, with more than 60 per cent filed by resident Indians.
The country is among the top nations in scientific publications, with a growing number of highly cited research papers. Thousands of Indian scientists feature among the top two per cent globally, reflecting the global recognition of Indian scientific talent, said the minister.
The minister said that policy reforms have opened new avenues for private participation, resulting in a sharp expansion of India’s space economy. Indigenous capabilities in defence and advanced technologies have also grown significantly, with rising exports and increasing self-reliance.
He further stated that the exploration of marine resources, deep-sea minerals and biodiversity will play a major role in future value addition to the national economy, adding that ‘Viksit Bharat’ will be shaped by the youth of today.
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