India set to overtake Germany as third-largest economy by 2027, says Scindia

Union Minister Jyotiraditya Scindia said India is on course to surpass Germany and become the world’s third-largest economy by the end of 2027, citing sustained policy reforms and institutional changes under Prime Minister Narendra Modi. Speaking at the YEF Bharat Summit 2025 organised by the Young Entrepreneurs Forum Bharat in Indore, he expressed confidence in India’s long-term economic trajectory.

Scindia recalled that India was once known as the golden bird, noting that nearly 2,000 years ago, the country accounted for around 20% of global GDP. He said that under Modi’s leadership, India was moving steadily towards reclaiming a prominent position on the global stage and emerging as a major economic force.

Highlighting the scale of India’s recent progress, Scindia said the economy had climbed from 10th place globally 12 years ago to fourth place, overtaking Japan. He asserted that by the end of 2027, India would move past Germany to become the world’s third-largest economy. He also pointed out that India had already overtaken the country that ruled it for nearly 200 years, without naming Britain, in the race for economic development.

The minister emphasised perseverance as a defining national trait, noting that it had enabled India to grow from a USD 2.3 trillion economy to USD 4.5 trillion. He added that the country was now positioning itself as a major global manufacturing hub, driven by steady policies and deep institutional reforms implemented by the Centre.

Scindia said that at every cabinet meeting, the prime minister urges ministers to discard colonial-era laws and focus on stakeholder consultations to resolve bottlenecks and improve ease of doing business. According to him, this approach was central to strengthening investor confidence and accelerating growth.

Madhya Pradesh Chief Minister Mohan Yadav, who also addressed the summit, said the state had emerged as India’s fastest-growing state. He urged young entrepreneurs to pursue innovation with clarity of thought and social responsibility, and to increase investment in Madhya Pradesh.

Yadav said the state offered a favourable environment, resources and infrastructure for industrial investment, and assured investors of full government support. For the first time, he said, the Industry Department had been placed directly under the chief minister’s charge to speed up decision-making and reinforce investor confidence.

The chief minister added that the state had adopted a clear industrial policy aimed at improving lives through industry-led growth, which would accelerate economic development and generate large-scale employment for the youth. He also said that investment agreements totalling Rs 32 lakh crore were signed at the Global Investors Summit in Bhopal in February, and that foundation stones had already been laid for projects totalling Rs 6 lakh crore.

Source: Economic Times