India’s rise from ‘fragile five’ to fourth-largest economy reflects a shift in confidence and capability
- IBEF
- March 2, 2026
India’s remarkable economic transformation from being counted among the ‘Fragile Five’ economies to becoming the world’s fourth-largest economy reflects a fundamental shift in national confidence and institutional capability, Union Minister Dr. Jitendra Singh said while delivering the P. Parameswaran Memorial Lecture on ‘Viksit Bharat @2047’. The journey, shaped by deepening democracy and expanding opportunities, has fostered an environment where even the most underprivileged citizens can aspire to become scientists, doctors, or civil servants. India’s innovation ecosystem has grown significantly, climbing from 81st to 38th in the Global Innovation Index and nurturing over 2 lakh startups that generate more than 21 lakh jobs. The nationwide Startup India movement now draws talent from Tier-2 and Tier-3 cities, with a notable increase in women-led enterprises and innovators driving national missions in space, science, and governance.
The country’s research output has soared, with India ranking sixth globally in patent filings, over 60% of which are by Indian residents and thousands of Indian researchers among the top 2% worldwide. Policy reforms in the space and nuclear sectors have invited private participation, expanded India’s space economy, and bolstered indigenous defence production and exports. Holistic initiatives like National Education Policy 2020, Atal Innovation Mission, PM MUDRA Yojana, and PM SVANidhi are broadening economic opportunities beyond traditional jobs, empowering entrepreneurs, artisans, and street vendors. The statement further emphasised that India today offers unprecedented opportunities in research, innovation, and enterprise, and the present generation must strengthen institutions to realise the vision of a fully developed and globally respected nation by 2047.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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