NEW DELHI: Prime Minister Narendra Modi on Tuesday said India will become the growth engine for the world in the coming years, and the ease of doing business has improved with “mission-mode” reforms being undertaken by his government.
Speaking at the Brics Business Forum Leaders’ Dialogue, PM Modialso said India soon will become a $5 trillion economy.
He told the gathering that India has the world’s third-largest startup ecosystem and there are over 100 unicorns in the country.PM Modi is on a visit to South Africa, which is hosting the first in-person summit of Brics comprising Brazil, Russia, India, China, and South Africa, since 2019.
Here are the top quotes from his address:
- Despite a shaky world economy, India has emerged as world’s fastest growing major economy. India will soon become 5 trillion dollar economy
- In 2009, when the first Brics summit was held, the world was coming out of a big economic crisis. At that time, Brics had emerged as a ray of hope for the world economy.
- India will be the growth engine of the world. It’s because India turned calamity and tough times into economic reforms.
- In the last few years, the ease of doing business in India has improved due to the work done in the mission mode.
- We have focused on public service delivery and good governance. Today in India UPI is used at all levels … Today among all countries in the world, India is the country with the highest digital transaction. Today, UPI is being used by street vendors to those shopping malls…
- Investor confidence has increased after the implementation of GST and Insolvency and Bankruptcy code in India.
- Defence and space sectors opened for the private sector … With the use of technology, we have taken a leap in financial inclusion.
- We are actively taking steps to make India a manufacturing hub in the areas of solar energy, wind energy, electric vehicles and green hydrogen.
(With inputs from agencies)Watch PM Modi highlights economic reforms and technological leap at BRICS Business Forum in South Africa