Speaking at the Storyboard18 Global Pioneers Summit, India’s Union Minister of Communication, Jyotiraditya Scindia, expressed confidence in the nation’s economic trajectory, asserting that the country is crafting a fresh narrative—one that seamlessly integrates its rich heritage with cutting-edge innovation.
“India is offering the world a unique value proposition, intertwining environmental consciousness with entrepreneurial dynamism,” Scindia said, addressing the audience in Mumbai. His remarks underscored the country’s evolving role on the global stage, moving from a participant to a leader in economic transformation.
The timing of the Global Pioneers Summit, he noted, is particularly significant. “India stands at an inflection point in history,” the union minister said, emphasizing that Prime Minister Narendra Modi’s Viksit Bharat Vision 2047 has become a shared national commitment, uniting 1.4 billion citizens in the pursuit of growth and innovation.
The Viksit Bharat Mission, he explained, serves as a blueprint for India’s ascent to the world’s third-largest economy by 2029, with aspirations to reach a $6 trillion valuation by 2030. “This vision is underpinned by bold economic reforms, expansive infrastructure projects, and a sweeping digital empowerment initiative,” he said.
A Surge in Innovation and Entrepreneurship
Pointing to India’s remarkable progress in the Global Innovation Index, Mr. Scindia highlighted the country’s leap from the 81st position a decade ago to 39th today. Such advancements, he suggested, reflect the government’s commitment to fostering innovation and supporting entrepreneurs at every stage of their journey.
The nation’s startup ecosystem has also seen explosive growth. “India is now home to over 100,000 new enterprises – a staggering rise from just 350 a decade ago,” he said. The entrepreneurial surge, he noted, is powered by a commitment to inclusivity, ensuring that business development uplifts allied sectors and creates widespread opportunities.
Government-backed initiatives, such as public and private incubators and targeted financial programs, have played a crucial role. Scindia pointed to the expansion of the Pradhan Mantri Mudra Yojana, where the loan limit for small businesses has been raised from Rs. 10 lakh to Rs. 20 lakh, as an example of the administration’s ongoing support.
Space, Social Media, and the Future of India’s Economy
Illustrating India’s resourcefulness, Scindia referenced the Chandrayaan-3 mission, which was completed for just $75 million—a fraction of the budget spent by other space agencies around the world. “This is a testament to India’s ability to do more with less,” he remarked.
The minister also noted the transformative role of social media in India’s economy. “It has become a launchpad for entrepreneurship, storytelling, and artistic expression, fueling the creative economy,” he said. With the expansion of 5G and the domestically developed 4G stack, led by Bharat Sanchar Nigam Limited (BSNL), India is positioning itself at the forefront of the digital age, he added.
A Moment of Recognition and a Call to Action
At the summit, Scindia also recognized corporate leadership, honoring Hina Nagarajan, Managing Director of Diageo India, for her contributions to the business landscape. Closing his remarks, he invoked the words of Prime Minister Modi: “Yahi Samay Hai, Sahi Samay Hai” – This is the right time.
“This is India’s century,” Scindia declared. “Innovation is our Brahmastra [ultimate weapon], and Viksit Bharat is our Dharma [guiding principle].”
As India continues its rapid transformation, its leaders remain confident that the nation’s blend of tradition and modernity will propel it to new heights on the world stage.
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More about the Storyboard18 Global Pioneers Summit
The Global Pioneers Summit is a celebration and exploration of the transformative potential of creativity, empowering individuals and businesses to think differently, act boldly, and craft a future that resonates with purpose and vision. Creativity is not just about artistic expression — it is a force for solving real-world problems, innovating products, and creating connections in ways that traditional methods cannot. And there are pioneers behind this shift, who have dared to think different.
The Global Pioneers Summit stands as a premier celebration of the visionary forces propelling businesses forward, spotlighting the global brands emerging from India — an ever-growing hub of creativity and innovation on the world stage. From groundbreaking innovations to impactful storytelling, key decision-makers and innovators from business, marketing, advertising, tech, and academia exchange insights, build connections, and draw inspiration from some of the most compelling work driving industries forward globally.
In today’s rapidly evolving world, creativity can be a powerful force to drive business growth, shape industries, and influence societal behavior, culture, and values. Storyboard18 Global Pioneers Summit puts the spotlight on the true purpose and power of creativity and the pioneers leading the way.