SRINAGAR: India has transformed from being counted among the world’s “Fragile Five” economies to emerging as the fastest-growing major economy in the past 12 years, Prime Minister Narendra Modi said on Saturday.
Addressing the nation from the ramparts of the Red Fort on the 80th Independence Day, Modi highlighted the economic and technological progress made by the country during his tenure.
“India was once counted among the Fragile Five,” the prime minister said, adding that the country has now emerged as the world’s fastest-growing major economy.
Modi said India had set ambitious goals after Independence in 1947, but its progress often fell short of the pace it aspired to achieve.
“Today, India is moving ahead with unprecedented speed and confidence,” he said, asserting that the resolve of 140 crore Indians could not be stopped.
The prime minister said India’s long-term goal was to become a developed nation by 2047 under the vision of “Viksit Bharat”.
“When the world’s most populous nation sets its sights on becoming a developed country, it sends a powerful message to the world and is reshaping how the world sees India,” Modi said.
Highlighting the achievements of his government over the past 12 years, he said defence production had increased fourfold, electronic manufacturing sevenfold and modern railway coach production 21-fold.
He also said the number of internet users had increased four times, while digital transactions had expanded 100 times during the period.
On the semiconductor sector, Modi said India was moving towards becoming a major global player and had already begun production at three semiconductor plants.
He said another five to eight plants were expected to come up in the coming years.
The prime minister also announced a major push for artificial intelligence-related skills, saying one crore youth would be trained in AI skills.
