New Delhi, May 20 (IANS): Riding on the overall economic growth across the spectrum, especially in the vibrant startup and unicorn ecosystem, India can achieve the 'Viksit Bharat' status even before 2047, Union Minister Hardeep Singh Puri said on Monday.

Addressing startup/unicorn founders and innovators during the 'Digital Bharat, Viksit Bharat' event in the national capital, the Union Minister said that India is the only economy that is growing, even at the most conservative estimate, at over 7 per cent, to become the fourth and then the third-largest world economy sooner than expected.

"This will happen only because of the quality of the transformation which has been facilitated by Prime Minister Narendra Modi's government and its conducive policies," he told the gathering.

Startups emerging from small cities, from less-privileged backgrounds, were not even conceivable 10 years ago, he noted.

"During the previous regimes, the only criteria required to become successful was connections. This is no more the case as innovation is now happening in small towns and cities," Hardeep Singh Puri said.

India is now home to more than 100 unicorns (with a valuation of $1 billion and above) and over 1.25 lakh startups.

"India is third in the number of unicorns and second in total number of startups and the first nation in creating new startups," the Union Minister said.