India on path of sustained high growth: PM Modi

Prime Minister Narendra Modi says India is the fastest growing major economy in the world and is on a path of sustained high growth.

“Bharat is the fastest-growing major economy in the world. Bharat is currently the fifth largest economy in terms of GDP,” Modi says, addressing the Kautilya Economic Conclave in New Delhi today.

“The Indian economy is currently undergoing a significant transformation. With strong economic fundamentals, India is on a path of sustained high growth. Today, Bharat is not only striving to reach the top but is also making concerted efforts to stay there. The world today offers immense opportunities across every sector,” PM Modi adds.

Modi said Bharat is number one in terms of global fintech adoption rates. “Today, we are number one in smartphone data consumption. We are the second largest internet user base globally. Nearly half of the world’s real-time digital transactions are taking place in Bharat today. Bharat now has the world’s third-largest start-up ecosystem,” he says.

“In terms of renewable energy capacity, Bharat is ranked fourth. When it comes to manufacturing, Bharat is the second-largest mobile phone manufacturer. Bharat is also the largest producer of two-wheelers and tractors. And not just that, Bharat is the world's youngest country. Bharat has the third-largest pool of scientists and technicians globally. Whether it’s science, technology, or innovation, Bharat is clearly in a sweet spot,” PM Modi adds.

Modi says the government is following the mantra of “reform, perform, and transform. “We are continuously making decisions to drive the nation forward at a rapid pace. This is the impact that has led the people of Bharat to elect the same government for the third consecutive time after 60 years. When people’s lives change, they gain confidence that the country is moving on the right track. This sentiment is reflected in the mandate of the Indian public. The trust of 140 crore citizens is a great asset for this government,” says Modi.