Dr. Jitendra Singh Predicts India’s Ascent to the Top 3 Global Economies
Synopsis
Discover how India has transformed from the 'Fragile Five' to the fourth largest economy, as Union Minister Dr. Jitendra Singh shares insights on the nation's path to becoming the third largest economy and achieving 'Viksit Bharat' by 2047.
Key Takeaways
India's economic shift from 'Fragile Five' to fourth largest.
Goal of becoming the third largest economy by 2047.
Improvement in Global Innovation Index ranking.
Growth of startups, especially in tier 2 and 3 cities.
Focus on women's leadership in innovation and science.
New Delhi, Feb 28 (NationPress) The transformation of India from the 'Fragile Five' economies back in 2014 to its current status as the world’s fourth largest economy marks a significant increase in national confidence, capacity, and strategic direction, according to Union Minister of State, Dr. Jitendra Singh, who made the remarks on Saturday.
He emphasized that India is on a fast track to becoming the third largest economy globally and aims to realize the vision of Viksit Bharat by the year 2047.
While delivering the P. Parameswaran Memorial Lecture in Thiruvananthapuram, Dr. Singh noted that India's position in the Global Innovation Index has dramatically improved from 81st place in 2014 to 38th now.
The nation boasts over two lakh startups, which are responsible for creating more than 21 lakh jobs. He reminisced that when the “Start-Up India” initiative was launched in 2015, it was a new concept for many; however, it has since evolved into a sweeping movement across the country.
Almost half of these startups are emerging from tier 2 and tier 3 cities, with a noteworthy proportion being led by women.
Dr. Singh remarked that the traditional conversation around women's empowerment is evolving, as women scientists and innovators are at the forefront of some of the nation’s most esteemed missions in space, science, and governance.
Regarding research output, he stated that India ranks sixth in the world for patent applications, with over 60 percent of those filed by residents.
India is also among the leading countries in scientific publications, with an increasing number of papers receiving high citations. Thousands of Indian scientists are recognized among the top two percent globally, showcasing the international acknowledgment of Indian scientific prowess, he added.
Dr. Singh pointed out that recent policy reforms have created new opportunities for private sector involvement, leading to substantial growth in India's space economy. The country's indigenous capabilities in defense and advanced technologies have also significantly improved, resulting in greater exports and enhanced self-reliance.
He concluded by stating that the exploration of marine resources, deep-sea minerals, and biodiversity will be crucial for future economic growth, affirming that the vision of Viksit Bharat will be shaped by today’s youth.
Point of View
The insights shared by Dr. Jitendra Singh underline India's significant economic evolution and ambition. The focus on innovation, women's empowerment, and research output reflects a forward-thinking approach that resonates with a nation on the cusp of greatness.
NationPress
9 May 2026
Frequently Asked Questions
What did Dr. Jitendra Singh say about India's economy?
Dr. Jitendra Singh mentioned that India is on track to become the third largest economy globally and aims for 'Viksit Bharat' by 2047.
How has India's innovation ranking changed?
India has improved its Global Innovation Index ranking from 81st in 2014 to 38th currently.
What role do startups play in India's economy?
With over two lakh startups generating more than 21 lakh jobs, they are a vital component of India's economic growth.
What is the significance of women in India's economic landscape?
A significant percentage of startups are led by women, highlighting the evolving conversation around women's empowerment in India.
What are the key sectors driving India's economic growth?
Key sectors include space, defense, and marine resource exploration, which are crucial for future value addition to the economy.
