"PM Modi expresses frustration over delays in achieving 3rd largest economy status, suggesting the pressure outweighs the joy of being 4th largest"
Prime Minister Narendra Modi emphasized India's ambition to ascend the global economic ladder and become a "Viksit nation" by 2047, during a public rally in Gandhinagar, Gujarat, on Tuesday. The fourth-largest economy in the world, India aims to surpass Japan and claim the third position in the next two to three years.
Modi recounted the excitement among India's youth when the nation moved past the United Kingdom, a country that ruled India for over 200 years, to become the fifth-largest economy. He asserted that the current excitement and pride stemming from India's advancement to the fourth position are overshadowed by the pressure to scale new heights.
PM Modi shared his vision for the future, stating that "Viksit Bharat," India's development, is not limited to urban areas or cityscapes. Instead, the goal is to infuse every state, municipal corporation, and village with development, ensuring a comprehensive transformation of the nation. The Prime Minister urged every citizen to contribute to building a "Viksit Bharat," independent of foreign products.
PM Modi emphasized the need for citizens to shun foreign goods in favor of homegrown products, as part of Operation Sindoor. He suggested that village traders should pledge to stops selling foreign goods in a bid to bolster the nation's economy. The Prime Minister also pointed out that even common items, like Ganesh idols, sometimes originate overseas.
Noting the transformation of Gujarat, a state that once primarily produced salt, into a leading center for diamonds, PM Modi called for planning and visioning ahead. He believed that, by 2035, Gujarat would complete 75 years, and the state must begin planning for the next decade to ensure its growth in sectors like industry, agriculture, education, and sports by 2046. The Prime Minister envisioned hosting the Olympics in India the following year, as a symbol of India's global standing.
On Friday, at the 10th NITI Aayog Governing Council Meeting, the organization's CEO, Subrahmanyam, stated that India has overtaken Japan to become the fourth-largest economy, with a GDP of USD 4 trillion, according to data from the International Monetary Fund. The IMF expects India's nominal GDP for fiscal 2026 to reach around USD 4.187 trillion, surpassing Japan's projected GDP. India is projected to grow by 6.2 percent in 2025 and 6.3 percent in 2026, maintaining a solid lead over global and regional peers.
- In his vision for the future, Prime Minister Modi emphasized the importance of investing in homegrown products as part of Operation Sindoor, encouraging village traders to stop selling foreign goods and contribute to the nation's economic growth.
- With India's ambition to ascend the global economic ladder and become a "Viksit nation" by 2047, the Prime Minister urged every citizen to focus on education, as it would play a crucial role in transforming every state, municipal corporation, and village, ensuring a comprehensive development of the nation.
- As the fourth-largest economy in the world, India aims not only to surpass Japan but also to claim the third position in the next two to three years, according to Prime Minister Modi's assertion during a public rally in Gandhinagar, Gujarat.
- The fourth-largest economy in the world, India, experienced a significant milestone when it moved past the United Kingdom to become the fifth-largest economy, a fact that filled the nation's youth with excitement, as recounted by Prime Minister Modi.
- In a bid to reinforce India's global standing, Prime Minister Modi envisioned hosting the Olympics in India the following year, representing India's advancement in the realm of sports, one of the sectors on which India focuses its development efforts, alongside industry, agriculture, and culture.
