Union Minister Jyotiraditya Scindia declared that India is on a definitive path to become the world's third-largest economy by 2027, highlighting the nation's remarkable economic ascent under the current leadership. He made this significant announcement while addressing a large gathering of young business leaders at the YEF Bharat Summit 2025 in Indore.
India's Economic Trajectory: From 10th to 3rd
Detailing the country's economic journey, Scindia stated that India has climbed from being the 10th largest economy to the 4th largest globally, having surpassed economic powerhouses like Japan and Britain. He projected that the next milestone would be overtaking Germany to secure the third position by 2027.
"Over the past twelve years, our nation has made unprecedented strides. With our GDP now standing at $4.5 trillion, we have transformed from a service provider to a major product exporter to the world," Scindia said. He credited Prime Minister Narendra Modi's leadership for this transformation, expressing confidence that India would re-emerge as the 'golden bird' and a leading economic powerhouse on the global stage.
The Startup Revolution and Madhya Pradesh's Rise
The minister pointed to the explosive growth of India's startup ecosystem as a key driver of this economic momentum. The number of startups has skyrocketed from just 350 in 2014 to over 200,000 in 2025. Similarly, the count of unicorns—startups valued over $1 billion—has surged from 3 to 122, making India the third-largest startup ecosystem in the world.
Madhya Pradesh Chief Minister Mohan Yadav, who also spoke at the summit, emphasized the state's role in this national growth story. He declared Madhya Pradesh as India's fastest-growing state, attracting substantial investments across diverse sectors including pharmaceuticals, agriculture, technology, tourism, and manufacturing. This influx is creating employment opportunities on a large scale.
Yadav highlighted the state's proactive measures, such as the launch of the Invest MP 3.0 portal, which consolidates policies, approvals, and incentives on a single, AI-powered platform for investors. He reminded the audience of the successful Global Investors Summit held in Bhopal in February, where investment agreements worth Rs 32 lakh crore were signed, with projects worth Rs 6 lakh crore already seeing their foundation stones laid.
A Call for Nation-First Entrepreneurship
The Young Entrepreneurs Forum Bharat Summit 2025, held on December 20, served as a flagship event focused on fostering entrepreneurship with a strong 'Nation First' philosophy. The event saw participation from over 1,000 young entrepreneurs from across India and featured leaders like podcaster Raj Shamani and spiritual speaker Amogh Lila Das.
Rajat Jain, founder of Kimirica and the forum's organizer, described the summit as a call to action. "When entrepreneurship is driven by values, discipline, and national responsibility, it becomes a powerful catalyst for unity, job creation, and India's overall progress," he stated.
Both Scindia and CM Yadav urged the youth to harness their innovative potential. Scindia reminded them that they are the future not just of Indore or Madhya Pradesh, but of the world. Yadav encouraged young entrepreneurs to work with determination to build an Atmanirbhar Madhya Pradesh and contribute to a self-reliant India.
