Daijiworld Media Network - New Delhi

New Delhi, Apr 3: India, currently the world’s fifth-largest economy, is poised to become the fourth-largest by the end of 2025 and the third-largest by 2027, surpassing Japan and Germany, Union Minister of Commerce and Industry Piyush Goyal announced on Thursday. Goyal attributed this impressive growth trajectory to India’s robust startup ecosystem and underscored the importance of investing in emerging technologies such as robotics, automation, machine learning, 3D manufacturing, and next-generation factories.

Speaking at the inaugural ceremony of the second edition of ‘Startup Mahakumbh’ held here from April 3-5, Goyal stressed that these technological innovations are critical for achieving the vision of 'Viksit Bharat 2047' and positioning India as a global leader in industry and innovation. He also highlighted the evolving role of startups in driving the nation’s economic and technological progress.

Goyal encouraged Indian investors to support the domestic startup landscape and reiterated the government’s commitment to nurturing innovation and entrepreneurship. Emphasizing the need to boost indigenous capital investments to reduce reliance on foreign funds, he promised government support for startups facing challenges and urged entrepreneurs to persevere and innovate.

Expressing his ambition for future events, Goyal envisioned an even larger participation in the next Startup Mahakumbh, targeting involvement from all 770 districts. Joint Secretary of DPIIT Sanjiv described India’s startup ecosystem as a powerhouse of innovation, while Harsha Vardhan Agarwal, President of FICCI, noted that favorable policies and accessible capital are making India a preferred destination for startups that were once incorporated abroad.