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India racing to top 3 economy
Prime Minister Narendra Modi said on Sunday that India is expected to become the third-largest economy in the world. He remarked that this progress has been made through the spirit of “reform, perform and transform.”
The Indian Prime Minister’s statement came days after US President Donald Trump called India a “dead economy.”
He further stated that over the past 11 years, India’s economy has moved from the 10th position to the top 5 globally and is now on its way to reach the top three.
Modi mentions the Made in India chip
He talked about the country’s journey towards Vikasit Bharat alongside Digital India. “By way of initiatives like the India AI Mission, India is advancing towards global AI leadership,” he said. The PM mentioned that the semiconductor mission is “gaining pace” and that “India will soon get a Made in India chip.”
On space achievements, he said India has become an example of “low-cost hi-tech space missions.”
PM Modi said the real strength of such progress lies in “empowerment of the poor”, claiming that digitisation has reached “every village.”
Through UPI, he further said, India accounts for “over 50 per cent of the world’s real-time transactions.”
After laying the foundation stone for the Bangalore Metro Phase-3 project, flagging off three Vande Bharat Express trains, and inaugurating the Metro Rail Yellow line, PM Modi said such milestones strengthen the vision of Aatmanirbhar Bharat.
“We are moving fast to become one of the top three economies of the world. How we got this speed? We got it through the spirit of reform, perform and transform,” he elaborated.
PM Modi said metro rail has expanded from 5 cities in 2014 to over 1,000 km across 24 cities, making it the world’s third-largest network.
“We used to import mobile phones but now we are the top five exporters of mobile handsets. Our electronic export before 2014 was USD 6 billion which has gone up to USD 38 billion dollars,” he said.
The Prime Minister said that automobile exports have doubled from USD 16 billion, placing India as the fourth largest automobile exporter.
“These achievements give strength to our concept of Atmanirbhar Bharat (self-reliant India). We will march together, and build a developed India,” he added.
He further said the next goal should be India’s self-reliance in technology and urged that products should follow the “Zero Defect, Zero Effect” principle, perfect quality with no harm to the environment and expressed confidence in Karnataka’s role in this vision.