RAJKOT: Prime Minister Narendra Modi on Sunday declared that India is rapidly advancing towards becoming the world’s third largest economy, citing controlled inflation, macro stability and global confidence as key drivers amid worldwide uncertainty.
“Inflation is under control, macro stability is strong, and India today stands out with unprecedented certainty,” Modi said at the Vibrant Gujarat Regional Conference in Rajkot, contrasting India’s political stability with turmoil in neighbouring countries.
Highlighting India’s economic trajectory, he said, “India is the world’s fastest growing economy. Global hopes are rising.” Modi listed milestones including India being the world’s largest milk producer, number one in generic medicines and vaccines, biggest mobile data consumer, top digital payment platform through UPI, second largest mobile manufacturer, and among top three in solar power and aviation markets.
“This is why global institutions are bullish on India,” he said. “The IMF calls India the engine of global growth. S&P has upgraded India after 18 years. Fitch praises our macro stability and fiscal credibility.”
Modi stressed that amid global uncertainty, India offers predictability, political stability and rising middle-class purchasing power.
Bullish on growth
In a message to investors, Modi said amid global uncertainty India offers predictability, political stability and rising middle-class purchasing power.