India to be one of world’s top 3 economies in my 3rd term: PM | Mint

India to be one of world’s top 3 economies in my 3rd term: PM | Mint

Business News/ News / India/  India to be one of world’s top 3 economies in my 3rd term: PM

New Delhi: Prime Minister Narendra Modi on Wednesday said that the Indian economy will be among the top three economies in the world during his third term. The country is now ranked fifth in the world behind the US, China, Germany and Japan.

Ahead of the 2024 general elections, Modi speaking at the new International Exhibition-cum-Convention Centre (IECC) complex, said that when his government took office in 2014, the Indian economy was at the tenth position and now has assumed the fifth position in the world. “We have to achieve the target of making India a developed nation in the next 25 years,” he said after unveiling a world-class convention centre in the heart of the national capital.

India can definitely eradicate poverty, he said citing a NITI Aayog report. “We will make India a developed nation working on the principle of nation first, citizen first,” he said inaugurating the complex which he renamed as Bharat Mandapam. He said that Bharat Mandapam, which will host the G20 summit in September under India’s presidency, will promote conference tourism. “World will witness rising stature of India when newly built Bharat Mandapam will host G20 summit,” Modi said.

The IECC complex is India’s largest MICE (meetings, incentives, conferences, and exhibitions) destination. In terms of the covered space available for events, the complex finds its place among the top exhibition and convention complexes in the world. It comprises multiple modern facilities, including convention centres, exhibition halls and amphitheatres.

PM Modi said that today India is witnessing a revolution of rebuilding as in the last nine years, 34 trillion were spent on the creation of infrastructure. This year too, capital expenditure is kept at 10 trillion, he stated. He said that in the last nine years, electrification of 40,000 km of railway lines took place as compared to just 20,000 in the seven decades before that.

PTI contributed to the story

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Updated: 26 Jul 2023, 10:58 PM IST

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