New Delhi, February 28 (IANS). Union Minister of State Dr Jitendra Singh on Saturday said that India’s journey from being counted among the ‘weak five’ economies in 2014 to becoming the fourth largest economy in the world today shows a major change in the country’s confidence, capability and direction.
He said that India is now moving strongly on the path to becoming the world’s third largest economy in the near future and will achieve the goal of ‘Developed India’ by the year 2047.
While delivering the P. Parameswaran Memorial Lecture at Kaudiyar, Thiruvananthapuram, Dr. Singh said that in the year 2014, India was at 81st position in the Global Innovation Index, which has now increased to 38th position.
There are now more than two lakh startups in the country, which are providing employment to more than 21 lakh. He reminded that when ‘Startup India’ was announced in the year 2015, the concept was new to many people, but today it has become a nationwide movement.
Nearly half of these startups are emerging from tier 2 and 3 cities, and a large number of them are driven by women entrepreneurs.
He said that the traditional thinking on women empowerment is changing. Today, women scientists and innovators are leading many of the country’s major national missions related to space, science and governance.
In the field of research, Dr. Singh said that India ranks sixth in the world in terms of patent applications and more than 60 percent of these applications have been filed by Indians.
India also ranks among the top countries in terms of scientific publications and a large number of research papers are being cited globally. Thousands of Indian scientists are among the top two percent of scientists in the world, reflecting the global recognition of Indian scientific talent.
The Minister said that policy reforms have opened up new avenues for private sector participation, leading to rapid expansion of India’s space economy. Indigenous capabilities in the field of defense and advanced technology have also grown significantly, exports have increased and self-reliance has strengthened.
He further said that exploration of marine resources, deep sea minerals and biodiversity will play an important role in value addition to the national economy in future. He stressed that today’s youth will shape ‘Developed India’.
–IANS
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