
PM Modi outlines India’s path to becoming the third-largest economy (photo-videograb-X@
A Powerful Vision Shared at the World Leaders Forum
World’s Third-Largest Economy – On August 23, 2025, Prime Minister Narendra Modi addressed the Economic Times World Leaders Forum in New Delhi with a confident and inspiring message: India is on track to become the world’s third-largest economy. He said India’s contribution to global growth could soon reach 20%, making it a key driver of the world economy.
Modi credited this progress to a decade of strong and stable economic policies. He highlighted India’s fiscal deficit dropping to 4.4%, strong foreign exchange reserves, and a booming investment culture. Despite global challenges like the COVID-19 pandemic, India has shown resilience and steady growth.
“India is not just growing fast,” Modi said. “We are growing with purpose, stability, and strength.”
Strong Foundations of Third-Largest Economy: Stability Behind the Growth
Modi emphasized that India’s economic success is built on solid foundations. Over the past ten years, the government has focused on creating a stable financial system that supports growth and protects against global shocks. Key achievements include:
- Low Fiscal Deficit: Reduced to 4.4%, showing responsible government spending
- Healthy Banking Sector: Banks are stronger than ever, with record capital raised
- Low Inflation and Interest Rates: Making it easier for businesses and consumers
- Controlled Current Account Deficit: Keeping trade balanced
- Robust Foreign Reserves: Providing a safety net for international trade
- Domestic Investment Boom: Lakhs of investors are putting money into markets every month through SIPs (Systematic Investment Plans)
Modi said these indicators show that India’s economy is not only growing, it’s growing in a healthy and sustainable way. He called this “macroeconomic resilience,” meaning India can handle global challenges and still move forward.
Reforms and Innovation: Building a $10 Trillion Economy
Looking ahead, Modi shared his vision for India to become a $10 trillion economy. He stressed that this goal is not just about size, it’s about quality, sustainability, and inclusion. To reach this target, India is focusing on key areas:
- Clean Energy: Investing in solar, wind, and battery storage to reduce pollution and create jobs
- Quantum Computing: Developing advanced technologies to lead in global innovation
- Manufacturing and Semiconductors: Boosting production through “Make in India” and launching India’s first chip by year-end
- Electric Vehicles: Expanding EV production and aiming to export to over 100 countries
- Space and Defense: Strengthening India’s capabilities in space missions and defense production
Modi said reforms are not driven by crisis, they are driven by conviction. He promised that the next phase of GST (Goods and Services Tax) reforms will be completed before Diwali, making taxes simpler and reducing prices for everyday goods.
Inclusive Growth: A Future for Every Indian
Modi’s speech wasn’t just about big numbers and global rankings. He also talked about making sure every Indian benefits from this growth. He highlighted:
- Job Creation: A record 22 lakh formal jobs added in June, according to EPFO data
- Ease of Living: Reforms aimed at making life simpler for citizens
- Education and Research: “One Nation, One Subscription” gives students access to top research journals
- Digital India: Expanding internet access and digital services to rural areas
- Women and Youth Empowerment: Encouraging entrepreneurship and skill development
Modi said that India’s growth must be inclusive, meaning it should lift everyone, not just a few. He called this “Viksit Bharat,” a vision of a developed India by 2047, when the country celebrates 100 years of independence.
Final Thoughts: India’s Moment on the Global Stage
Prime Minister Modi’s speech was more than just a policy update, it was a declaration of ambition. With strong foundations, bold reforms, and a clear vision, India is not just dreaming of becoming the third-largest economy, it’s making it happen. As Modi said, “India carries the strength to even bend the course of time.” With momentum building and global attention focused on India’s progress, the country is stepping into a new era of leadership, innovation, and inclusive prosperity.
Also read – Bengal’s Billion-Dollar Momentum: PM Modi’s ₹5400 Crore Push to Spark Growth
India Surpasses Japan to Become the World 4th Largest Economy: A New Era of Growth
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