From the brink of economic fragility in 2014 to powering as the fourth-largest economy today, India’s story is one of dramatic reinvention. Union Minister Dr. Jitendra Singh shared this inspiring narrative during his address at the P. Parameswaran Memorial Lecture in Thiruvananthapuram on Saturday.
‘Our path to becoming the world’s third-largest economy is well underway, culminating in a developed India by 2047,’ Dr. Singh proclaimed. This progress signals a nation brimming with self-belief and purpose.
Innovation metrics tell a compelling tale: India’s Global Innovation Index ranking surged from 81st in 2014 to 38th now. The startup boom is staggering—over 200,000 ventures employing 2.1 million people. The 2015 Startup India launch, once met with skepticism, now fuels a pan-India movement.
Tier-2 and Tier-3 cities are breeding grounds for nearly 50% of these startups, many driven by female founders. This shift challenges outdated views on gender roles, with women leading transformative projects in space exploration, scientific research, and public administration.
India’s research prowess shines bright: sixth in global patents, 60%+ filed by Indians; top-tier scientific output with high citation rates; and thousands of scientists in the elite top 2% worldwide. These feats highlight India’s intellectual might on the global stage.
Strategic policy changes have spurred private investments in space, enhanced self-reliance in defense and high-tech, ramped up exports, and expanded the space economy. Future growth hinges on harnessing marine wealth, deep-sea mining, and biodiversity for sustainable gains.
Urging the youth to take charge, Dr. Singh envisioned a ‘Viksit Bharat’ forged by their hands. As India accelerates, the world watches a powerhouse redefine economic destiny.