A part of Indiaonline network empowering local businesses

In our third term, India will become world’s 3rd-largest economy: PM Modi


NEW DELHI: Confident of winning the upcoming General Election, Prime Minister Narendra Modi on Friday said in the third term of BJP-led central government, India will become the world’s third-largest economy.

“India is on the move and is moving fast. Today’s India is moving forward to make ‘Viksit Bharat’ by 2047…This is the start of golden period for the Indian mobility sector. Today, India’s economy is growing at a brisk pace. In our third term, India’s economy is sure to become the third largest in the world,” said the PM at Bharat Mobility Global Expo 2024.

According to IMF data, India is currently placed at the fifth spot with the size of its economy pegged at over $3.7 trillion. The United States sits at the (around $27 trillion) and is followed by China (around $17.7 trillion), Germany ($4.4 trillion) and Japan ($4.2 trillion).
While giving numbers as to how the country’s mobility sector has grown in size over the last 10 years since his government first came to power in 2014, Modi said that in Amrit Kaal, India’s passenger vehicle, commercial vehicle and auto component industry should strive to become number 1 in the world. As per Modi, the emergence of neo-middle class, expanding spheres and growing income of the middle class will continue to generate demand for the mobility sector.

To lure the driver community who recently protested against the new hit-and-run law, Modi said that a new scheme is in the works to develop modern buildings with facilities for food, clean drinking water, toilets, parking and rest for drivers on all national highways. He added that the government is preparing to build 1,000 such buildings across the country in the first phase of this scheme. The PM advised tyre manufacturers to hold discussions with farmers to meet the need for natural rubber domestically. (THE NEW INDIAN EXPRESS)

17 Days ago