Contrary to the popular perception about Indians doing well when they go abroad, the country now ranks high in the startup ecosystem, global innovation index, patent filing by resident Indians and others, Union minister Jitendra Singh.

Speaking at a two-day StartUp Conclave jointly organized by CSIR institutes here, he said the country is now in a position where the world has started accepting its talent.

From being one of the 'Fragile Five' (emerging economies that were too dependent on foreign investment to finance growth ambitions in 2013), India is now among the top five economies, says the minister.

"Our startup (startup ecosystem) is now ranked three. The Global innovation index has gone up from 81 to 39. Our patent filing is ranked sixth. I was just going through the figures. Out of 64,480 patents filed in the recent years, more than 55 per cent are resident Indians," says the minister.

Referencing the cases of Nobel Prize winner Har Gobind Khorana and others, he mentioned that there was a widespread skepticism in the past that scientists and similar individuals attained greatness only after traveling abroad.

The young individuals who have registered patents didn't depart from India even for a single day, indicating that the nation possesses the talent, resources, and ecosystem.

In 2014, the funding for CSIR or DSIR (Department of Scientific and Industrial Research) was merely Rs 5,615 crore, whereas it stood at Rs 13,416 crore in the budget unveiled five months prior.

The Centre has accomplished significantly more than earlier administrations in advancing science and technology.

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Advocating for enhanced collaboration between innovation and industry to foster a sustainable startup ecosystem, Singh asserted that the moment has arrived for Indian science to dismantle barriers and connect with various stakeholders, such as industry, investors, and the public.