India to become 3rd largest economy by 2027
What's the story
Union Minister Jyotiraditya Scindia has said that India will surpass Germany and become the world's third-largest economy by the end of 2027. Speaking at the 'YEF Bharat Summit 2025' organized by Young Entrepreneurs Forum Bharat in Indore, Scindia credited this growth to the policies and institutional reforms introduced by Prime Minister Narendra Modi's government. He emphasized India's historical economic significance, noting that it once accounted for 20% of global GDP some 2,000 years ago.
Growth trajectory
Economic progress under Modi's leadership
Scindia highlighted that India's economy has jumped from the 10th position to the fourth in just 12 years, surpassing Japan in the process. He said, "By the end of 2027, we will surpass Germany to become the world's third-largest economy." The minister also stressed on India's perseverance, saying it has transformed from a $2.3 trillion economy to a $4.5 trillion one under Modi's leadership.
Manufacturing shift
India's transformation into a global manufacturing hub
Scindia also spoke about India's journey toward becoming a global manufacturing hub, thanks to the "steady policies and deep institutional changes" introduced by the Modi government. He quoted Modi as saying in every cabinet meeting that colonial laws should be scrapped and discussions with all stakeholders should be held to improve ease of doing business.
State contribution
Madhya Pradesh's role in India's economic growth
Madhya Pradesh Chief Minister Mohan Yadav also spoke at the summit, highlighting his state's rapid growth and its potential for industrial investment. He urged new entrepreneurs to innovate and invest in the state, promising all possible support from the government. Yadav also revealed that at a recent Global Investors Summit in Bhopal, deals worth ₹32 lakh crore were signed with foundations laid for projects worth ₹6 lakh crore already underway.