Close X
Saturday, November 9, 2024
ADVT 
India

India will soon be a $5 trillion economy, says Modi at BRICS business forum

Darpan News Desk IANS, 22 Aug, 2023 11:32 AM
  • India will soon be a $5 trillion economy, says Modi at BRICS business forum

New Delhi, Aug 22 (IANS) Addressing the BRICS Business Forum Leaders' Dialogue in Johannesburg on Tuesday, Prime Minister Narendra Modi said that despite global challenges, India has emerged as the fastest growing economy and will soon become a $5 trillion economy.

"Despite a shaky world economy, India has emerged as the world's fastest-growing major economy. India will soon become $5 trillion economy," Modi said in his address.

"In 2009, when the first BRICS summit was held, the world was coming out of a big economic crisis. At that time, BRICS had emerged as a ray of hope for the world economy," he noted.

India has the world's third largest startup ecosytem with over 100 unicorns, the Prime Minister informed the gathering, adding that with mission mode reforms, and ease of doing business has improved in the country.

"India will become the growth engine for the world in the coming years as investor confidence has increased after the implementation of GST and Insolvency and Bankruptcy Code in the country.

"Defence and space sectors have been opened for the private sector and with the use of technology, we have taken a leap in financial inclusion.Today, UPI is being used by street vendors to those in shopping malls... We are actively taking steps to make India a manufacturing hub in the areas of solar energy, wind energy, electric vehicles and green hydrogen," Modi highlighted.

Earlier in his address at the forum, South Africa President Cyril Ramaphosa said that Africa is focusing on women's empowerment.

"We in Africa, as we seek to grow and develop, are focusing on the empowerment of the women of our continent who have been held back through years of colonialism, and in our case through the years of apartheid through protocols and laws. We need to free the women of our continent so that they can trade, be in business and to grow the economies of our various countries," he said.

"We require a fundamental reform of the global financial institutions so that they can be more agile and responsive to the challenges facing developing economies," Ramaphosa added.

MORE India ARTICLES

Punjab CM dedicates 76 new Aam Aadmi Clinics commemorating Independence

Punjab CM dedicates 76 new Aam Aadmi Clinics commemorating Independence
Punjab Chief Minister Bhagwant Mann on Monday dedicated 76 more new Aam Aadmi Clinics statewide to commemorate the 76th year of India's freedom. Addressing the gathering here after dedicating the clinics, the Chief Minister said this is the dawn of a new era in health revolution to provide quality health services to people at their doorsteps.

Punjab CM dedicates 76 new Aam Aadmi Clinics commemorating Independence

MP: Man arrested for pelting stones at Vande Bharat Express

MP: Man arrested for pelting stones at Vande Bharat Express
Railway Police on Monday arrested a man for pelting stones and damaging windows of Bhopal-New Delhi semi-high speed Vande Bharat Express in Morena area of the state. Railway officials said that the incident occurred at Banmore railway station in Morena district on Sunday. The accused has been arrested by the Railway Protection Force (RPF).  

MP: Man arrested for pelting stones at Vande Bharat Express

Wrong policies led to partition of India, says Hardeep Puri

Wrong policies led to partition of India, says Hardeep Puri
On the occasion, the Minister also honoured 75 great personalities who faced the brunt of partition. From 2021, every year on this day, Partition Horrors Remembrance Day is observed to recall the sacrifices and struggle of our people during the time of partition.

Wrong policies led to partition of India, says Hardeep Puri

Independence Day celebrations: Over 10,000 police personnel deployed in and around Red Fort

Independence Day celebrations: Over 10,000 police personnel deployed in and around Red Fort
Over 10,000 police personnel have been deployed in and around the historic Mughal-era Red Fort from where the Prime Minister Narendra Modi will address the nation on Independence Day, a Delhi Police official said on Monday. 

Independence Day celebrations: Over 10,000 police personnel deployed in and around Red Fort

41 killed, 13 missing in Himachal flash floods, landslides

41 killed, 13 missing in Himachal flash floods, landslides
At least 41 people were killed and 13 went missing on Monday owing to heavy rainfall that triggered statewide flash floods and landslides, officials said. The deceased included 10 in state capital Shimla in two landslide incidents, including the caving in of a temple dedicated to Lord Shiva. Nine people are reported to be missing and the search operation is underway.   

41 killed, 13 missing in Himachal flash floods, landslides

'India has converted challenges into opportunities': Prez Murmu in I-Day eve address

'India has converted challenges into opportunities': Prez Murmu in I-Day eve address
New Delhi, Aug 14 (IANS) President Droupadi Murmu on Monday hailed the country's resilience during turbulent times, saying that India also served as a beacon of hope for others. Addressing the nation on the eve of the 77th Independence Day, the President in her speech said that India has converted challenges into opportunities, and has recorded high GDP growth. 

'India has converted challenges into opportunities': Prez Murmu in I-Day eve address