India Economy
National News: Prime Minister Narendra Modi said on Sunday that India is moving rapidly towards becoming the world's third largest economy in the near future. He attributed this progress to the spirit of "reform, perform, and transform." He made this statement just a few days after US President Donald Trump criticized India by calling it a 'dead economy.'
Modi said that in the last 11 years, India has risen from the 10th position in the world economy to the top 5 and is now on its way to entering the top 3. He clarified that this pace is not the result of any coincidence, but it is the result of strong policies, clear intentions, and honest efforts.
The Prime Minister was speaking on the occasion of laying the foundation stone of Bengaluru Metro Phase-3, flagging off three Vande Bharat Express trains, and inaugurating the Metro Rail Yellow Line. He described these projects as important steps towards expanding the country's infrastructure and the goal of a self-reliant India. Modi said that in 2014 metro rail services were available in only 5 cities, while now they have spread over 1,000 km in 24 cities. With this expansion, India has become the third largest metro network in the world.
The Prime Minister said that before 2014, the electrification of the railway network was about 20,000 km, which has now doubled to 40,000 km. The number of airports has increased from 74 to more than 160. Similarly, the number of national waterways has increased from 3 to 30, which has accelerated internal transport and trade.
Referring to the improvements made in the health infrastructure, Modi said that till 2014, there were only 7 All India Institutes of Medical Sciences (AIIMS) and 387 medical colleges in the country. At present, 22 AIIMS and 704 medical colleges are operating, which are widening the reach of health services.
The Prime Minister said that with India's rapid economic growth, the lives of the poor and the underprivileged are also improving. He said that before 2014, India's total exports were 468 billion US dollars, which has now increased to 824 billion dollars.
Modi said that earlier India used to import mobile phones, but now it is among the top five exporters of mobile handsets. Electronic exports were 6 billion dollars in 2014, which has now reached 38 billion dollars.
The Prime Minister also pointed out that India's automobile exports have more than doubled, making the country the fourth largest automobile exporter in the world. This achievement is a testimony to the success of the 'Make in India' and 'Atmanirbhar Bharat' campaigns.
Modi said that these achievements further strengthen our resolve for a self-reliant India. Together we will build a developed India. He further said that India's next big priority should be self-reliance in technology.
The prime minister said that Indian tech companies have made their mark by developing software and products at the world level. Now the goal should be that India also achieves global leadership in hardware and advanced technological products.
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