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Politics21 FEB 2026, 06:16 PM4

India Set to Become World’s Third-Largest Economy, Says Pralhad Joshi

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India Set to Become World’s Third-Largest Economy, Says Pralhad Joshi

KALABURAGI: Union Minister Pralhad Joshi announced India could soon be the world's third-largest economy during an event at Poojya Doddappa Appa College. He highlighted the country's advancements in education, research, and development, with significant investments in artificial intelligence and semiconductor manufacturing. Joshi encouraged alumni to support future generations through mentorship.

KALABURAGI: Union Minister Pralhad Joshi delivered an inspiring message at the Global Alumni Meet of the Poojya Doddappa Appa College of Engineering, expressing confidence that India's dynamic growth will position it as the world’s third-largest economy in the near future. Joshi emphasized the country’s impressive trajectory across various sectors, particularly in education and technology, during his inaugural speech on February 21.

Highlighting India’s rising profile in global academia, Joshi noted that the latest QS World University Rankings included a record 54 Indian institutions, showcasing the nation's commitment to educational excellence. “In the next five years, I am confident that we will see at least 100 Indian institutions ranked among the best globally,” said Joshi. His remarks reflect a broader commitment to enhancing India's educational landscape, aiming for transformative progress in higher education that caters to future industry needs.

Joshi also shed light on India’s flourishing research ecosystem, reporting an expenditure of ₹1.27 lakh crore on Research and Development. With annual patent applications reaching approximately 92,000, the minister underscored India’s growing importance as a global hub for technology and innovation. He noted, “We rank third in the world for Science and Engineering PhDs, following only the United States and China, which is a testament to our advancements.”

The minister's speech further touched on significant investments being made in technology, particularly artificial intelligence, as well as indigenous semiconductor manufacturing. With the Union government committing over ₹10,300 crore to the India AI Mission and allocating ₹40,000 crore for the India Semiconductor Mission 2.0, Joshi reiterated that while manufacturing may be slowing in other countries, it continues to thrive in India.

The event also saw participation from notable alumni and current politicians who expressed gratitude for their education. Joshi urged alumni to contribute back to the college by providing mentorship and guidance, helping to build a strong foundation for future generations.


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