New Delhi [India], August 24 (ANI): Prime Minister Narendra Modi said that India, with its resilience and strength, has become a “beacon of hope” for the world.
Addressing the ET World Leaders Forum 2025, PM Modi highlighted that S&P Global Ratings has upgraded India’s credit rating for the first time in nearly 20 years, reflecting growing global confidence in the country.
“India, through its resilience and strength, continues to be a source of global confidence,” said PM Modi.
Referring to a commonly used phrase, “Missing the Bus” to illustrate how opportunities, if not seized, can pass by, PM Modi remarked that previous governments in India missed several such buses of opportunity in the fields of technology and industry.
Adding that he was not present to criticise anyone, PM Modi emphasised that, however, in a democracy, comparative analysis often helps clarify the situation more effectively.
The Prime Minister stated that earlier governments kept the nation entangled in vote-bank politics and lacked the vision to think beyond elections. He remarked that those governments believed that developing cutting-edge technology was the domain of advanced nations and that India could import it when needed.
Noting that India is going to become world’s third-largest economy very soon, Prime Minister Narendra Modi said that experts are saying that India’s contribution to the world’s growth is going to be around 20 per cent very soon and the reason behind the resilience in India’s economy is the macroeconomic stability that has come to the country in the last decade.
PM Modi spoke of India’s strides in different fields, stating that the first Made in India chip will come to the market by the end of this year and work is being done rapidly on Made in India 6G.
He said India is the world’s fastest-growing major economy.
“We are going to become the world’s third-largest economy very soon. Experts are saying that India’s contribution to the world’s growth is going to be around 20% very soon. The reason behind this growth, this resilience that we are seeing in India’s economy, is the macroeconomic stability that has come to India in the last decade. Today, our fiscal deficit is expected to come down to 4.4 per cent. And this is when we have faced such a big crisis of Covid. Today, our companies are raising record funds from the capital market,” he said.
The Prime Minister Narendra Modi addressed the Economic Times World Leaders Forum in New Delhi on Saturday. (ANI)
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