Prime Minister Narendra Modi on Sunday declared that India is fast emerging as the world’s third-largest economy, with the momentum sparked by the philosophy of “reform, perform and transform.”
The Prime Minister’s remarks came just days after US President Donald Trump’s jibe calling India “a dead economy.”
From 10th to Top Five in Global Rankings
Modi pointed out that during the last 11 years, India’s economy has shifted from its 10th position to the top five globally and is set to join the top three.
Addressing the foundation stone laying ceremony of Bangalore Metro Phase-3, and flagging off three Vande Bharat Express trains and inaugurating Metro Rail Yellow line, Modi described India’s progress across industries, reaffirming the determination towards Aatmanirbhar Bharat (self-reliant India).
Reform, Perform, Transform: The Driving Philosophy
“We are moving fast to become one of the top three economies of the world. How we got this speed? We got it through the spirit of reform, perform and transform,” he said, adding that this speed was achieved through “clear intention and honest efforts.”
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Referring to infrastructure, Modi further pointed out that metro rail travel was available in only five cities in 2014, but now there are more than 1,000 km in 24 cities, and thereby India has become the world’s third-largest metro network.
Electrification of the railway network has been doubled from 20,000 km prior to 2014 to 40,000 km in 2025. Airports have gone up from 74 to over 160, and national waterways have increased from 3 to 30.
Expansion in Healthcare and Education
“Till 2014, there were 7 All India Institute of Medical Sciences (AIIMS) and 387 medical colleges. It has now gone up to 22 AIIMS and 704 medical colleges, that are serving the people,” he said.
Modi said the lives of the poor and marginalised are transforming alongside India’s rapid progress.
“Before 2014 the total export was USD 468 billion but today it is USD 824 billion. We used to import mobile phones but now we are the top five exporters of mobile handsets. Our electronic export before 2014 was USD 6 billion which has gone up to USD 38 billion,” he said.
Exposure of India’s automobiles for exports has also doubled more than twice to become the world’s fourth-largest exporter of automobiles.
Towards a Self-Reliant and Technologically Advanced India
“These achievements give strength to our concept of Atmanirbhar Bharat. We will march together, and build a developed India.”
India’s next major priority, the Prime Minister stated, should be self-sufficiency in technology. Indian software companies have achieved international prominence, creating software and products across the globe.
