Press Information Bureau

India will emerge as the world’s third largest economy in Shri Narendra Modi's third term as Prime Minister, Union Minister Dr Jitendra Singh said today.

The country has great stakes in the return of the Government headed by PM Modi in order to continue the upward trend in Bharat’s growth story, he said.

The Union Minister of State (Independent Charge) Science & Technology; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh was speaking at a public function in Udhampur (J&K).

“In 2014, when PM Modi took over, India stood as the world's tenth largest economy. In less than ten years, we jumped to 5^th position after overtaking the United Kingdom, which had ruled over us for nearly two centuries. Hopefully this year it will emerge as the 4^th largest economy and during PM Modi’s 3^rd term, India will be the world’s 3^rd largest economy, marching on to become the No.1 economy by 2047,” he said.

Dr Jitendra Singh said, in the last ten years under PM Modi, India is recording a rapid rise in a slew of global benchmarks.

During Financial Year 2023-24, Indian economy grew at 7 percent plus for the third successive year even as the global economy struggles to grow at more than 3 percent. We are the third-largest fintech economy in the world after the USA and the UK, he said.

Dr Jitendra Singh said, India has the 3^rd largest Start-up Ecosystem globally and is home to the fastest-growing unicorns.  “From just about 350 StartUps in the year 2014, StartUps in India grew over 300 times in over nine years. After PM Modi gave the clarion call 'StartUp India, Stand Up India' from the ramparts of the Red Fort in his Independence Day address and rolled out the special StartUp scheme in 2016, today we have over 1,30,000 Startups, besides more than 110 Unicorns,” he said.

Dr Jitendra Singh said, within a short span of just about four years, the number of Space Startups has gone up from a mere single digit to over 150. Besides, there are more than 6,300 BioTech Startups and over 3,000 Agritech Startups in the Lavender sector of Jammu & Kashmir itself.

“About 4,000 people are engaged with Lavender cultivation and earning lakhs of rupees, quite a few of them do not have high qualifications, but are very innovative,” he said.

Dr Jitendra Singh said, in the Global Innovation Index we ranked 81 in 2014, we have jumped 41 places, today we are No. 40 in the world.

“India of 2024 is ready to take a giant leap, backed by its scientific acumen and technological prowess,” he said.

Referring to Udhampur-Kathua-Doda as among the most developed Lok Sabha constituencies in the last 10 years since 2014, Dr Jitendra Singh said, today this constituency is being cited as a role model. He said, not only several national and first-of-its-kind projects were brought in in the last 10 years, but even those projects which had been abandoned by the earlier governments were revived. 

Very recently, Dr Jitendra Singh said, Bhaderwah town of his consistency made national news when its Lavender Farms were displayed in the Republic Day Parade at Kartavya Path, New Delhi and the constituency is now known as the birthplace of “Purple Revolution”, which has given the world a new genre of Agri-StartUps.

This is the only Lok Sabha Constituency, said Dr Jitendra Singh, which got three centrally funded Medical Colleges, two Passport offices, world’s highest Railway Bridge, Asia’s longest Road Tunnel from Chenani to Nashri called Syama Prasad Mookerjee Tunnel, North India’s first Industrial Biotech Park, North India’s first Cable Free Bridge Atal Setu at Basohli, nearly 4 to 5 Hydro power projects in Kishtwar making it India’s power hub, Shahpur-Kandi National Irrigation project, longest Express Corridor from Katra to Delhi, two - instead of one - Vande Bharat Express Trains on the same route of Katra to Delhi, nearly 200 bridges and small bridges, while District Udhampur has been declared as India’s top three districts in PMGSY Roads.  

While Manser lake has been included in the Government of India’s Swarajya Plan, Mantalai, which was left in ruins previously, has been revived as a State-of-the-art Wellness Centre.

Dr Jitendra Singh said, all that we need to do is to make the people aware that all of this is for their benefit and for the benefit of their children. He emphasised the need to effectively convey to the common masses, particularly youth and women, the enormous development that has taken place in this constituency in the last 10 years under the patronage of Prime Minister Narendra Modi.

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SNC/PK