Bhubaneswar: India’s startup ecosystem has become the third largest in the world, said Union Minister of Education Dharmendra Pradhan Saturday, adding that India has now emerged as the world’s fourth-largest economy.
Stating that the Union Budget for 2026–27 has set a growth target of 6.8 per cent to 7.2 per cent, Pradhan, who was addressing the media at a City hotel, stressed that the Budget aims to fulfil the aspirations of all sections of society and ensure inclusive growth.
He said India’s export volume, which stood at USD 466.22 billion in 2013–14, has increased by 77 per cent to reach USD 824.9 billion.
Foreign Direct Investment (FDI), which was 36.05 billion dollars in 2013–14, has now doubled to 81.04 billion dollars.
India’s GDP has grown nearly three times, from Rs 106.57 lakh crore in 2014–15 to Rs 331.03 lakh crore.
The country’s foreign exchange reserves have risen to 697.9 billion dollars, while inflation has been brought under control.
GST collection, which was Rs 11 lakh crore in 2020, has now increased to Rs 22 lakh crore. The minister said the government has set a target for artificial intelligence to contribute 1.7 trillion dollars to the economy by 2035.
In the current Budget, an allocation of Rs 10,000 crore has been made for the next five years to strengthen the biopharma sector, and the India Semiconductor Mission 2.0 has been launched with an outlay of Rs 40,000 crore.
He said the Mahatma Gandhi Gram Swaraj Abhiyan has been announced to promote labour-intensive textile industries and khadi and handicrafts.
To strengthen the MSME sector, a growth fund of Rs 10,000 crore has been created.
Pradhan said the Modi government is committed to ensuring that the benefits of development reach the last person in society, as reflected in the Budget.
BJP state president Manmohan Samal was present on the occasion.
