India will surpass Germany to become third-largest economy by 2027: Scindia

Indore, Dec 20 (PTI) Union Minister Jyotiraditya Scindia on Saturday expressed confidence that India will surpass Germany to become the world’s third-largest economy by the end of 2027, lauding the polices and institutional reforms ushered in by the Centre under Prime Minister Narendra Modi.

Scindia was addressing the ‘YEF Bharat Summit 2025’ organised by the Young Entrepreneurs Forum Bharat here.

He said, “India was once known as the golden bird. About 2,000 years ago, India’s share in the world’s gross domestic product (GDP) was 20 per cent. Under the leadership of Prime Minister Narendra Modi, India will move forward with this vision and emerge as a star on the global stage.” India’s economy has leapt from the 10th position 12 years ago to fourth, leaving behind Japan, he said. “By the end of 2027, we will surpass Germany to become the world’s third-largest economy,” asserted the minister.

In the race for economic development, India has already surpassed the country that tried to rule it for 200 years, he said without naming Britain.

Scindia stressed that India’s perseverance defines the country. “This perseverance has transformed India from a country with a GDP of $2.3 trillion to a nation with a GDP of $4.5 trillion,” he said.

The Union minister said the country is moving towards becoming a major global manufacturing hub, powered by “the steady policies and deep institutional changes” brought in by the Modi government.

Scindia said, “In every cabinet meeting, the prime minister instructs us ministers to throw colonial laws into the dustbin. He tells us to discuss with all stakeholders and resolve their difficulties to improve the ease of doing business.” Madhya Pradesh Chief Minister Mohan Yadav, who also addressed the conference, said that MP has emerged as India's fastest-growing state.

Yadav urged the large number of new entrepreneurs present at the conference to move forward with innovation, clear thinking, and social responsibility and to invest more in the state.

The CM said, “The state has a favourable environment, resources, and facilities for industrial investment. The state government will provide all possible support to investors.” For the first time, he said, the state government has given priority to the Industry Department directly at the chief minister’s level to ensure faster decision-making and strengthen investor confidence.

Yadav said that a new resolve has been taken in the state with a clear policy to improve lives through industries. “This policy will not only accelerate economic development but also create large-scale employment opportunities for the youth,” he said.

The CM also said that at the Global Investors Summit held in Bhopal in February, agreements worth Rs 32 lakh crore were signed, of which the foundation stone for projects involving investments worth Rs 6 lakh crore has already been laid. PTI HWP MAS NR