PM Modi envisages India as USD 10-trillion economy with emerging startups

Speaking at the Global Business Summit here, he said his government inherited an economy in complete policy paralysis, plagued by runaway inflation and rising current account deficit.
PM Narendra Modi. (AP photo)
PM Narendra Modi. (AP photo)

NEW DELHI: Prime Minister Narendra Modi on Saturday laid out his vision for making India a USD 10-trillion economy, and the third-largest in the world, saying he wants the nation to have countless startups, and be a global leader in electric vehicles.

Speaking at the Global Business Summit here, he said his government inherited an economy in complete policy paralysis, plagued by runaway inflation and rising current account deficit.

Reforms in the last four and half years have changed the picture.

"Change is clearly visible today," he said. BJP-led NDA rule witnessed the highest post-liberalisation growth rate of 7.4 per cent and the lowest inflation of less than 4. 5 per cent, he said adding that reforms like goods and services tax (GST) have laid solid foundation for higher gross domestic product (GDP) growth.

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The New Indian Express
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