Will India Become the World's Third Largest Economy?

Bengaluru, June 10 (NationPress) Union Minister for Food, Public Distribution and Consumer Affairs Pralhad Joshi addressed the media on the occasion of the completion of 11 years of achievements of the Central government led by Prime Minister Narendra Modi. He highlighted that India has now emerged as the fourth largest economic power in the world.

"I am confident that India will soon become the third largest economy globally," he emphasized.

During a press conference held at the State BJP Office, Jagannath Bhavan in Bengaluru, Minister Joshi noted that it took nearly 30 to 40 years for the nation to achieve a one trillion dollar economy.

He stated it took approximately 62 to 63 years to reach a two trillion dollar economy.

"Thanks to a stable government, we have progressed from $2 trillion to over $4 trillion," he said.

He stressed that strong governance has led to significant advancements across various sectors.

"Reforming the defense system is also a vital aspect. He pointed out that earlier, there was a government unable to appoint a Chief of Defence Staff (CDS). Former Union Defence Minister A.K. Antony had stated in Parliament that developing basic infrastructure in border areas would lead to misuse by enemy nations."

"We have made effective decisions, from border infrastructure to the CDS," Union Minister Joshi asserted.

He pointed out that due to the CDS, operations like 'Operation Sindoor' allowed India to respond robustly to Pakistan's actions.

He mentioned that coordination among the three defense forces enabled the identification of nine locations linked to terrorism for targeted missile strikes.

"Previously, all defense products were imported," the Union Minister noted.

"Now, we are producing 5,000 products under the 'Made in India' and 'Make in India' initiatives. For the first time, we have exported arms and other products worth Rs 25,000 crore," he added.

He remarked that the percentage of extreme poverty has dropped from 21 to 5 percent.

He clarified that 26 crore people have risen above extreme poverty, citing data from the World Bank rather than Indian agencies.

Union Minister Joshi attributed the significant improvements in the defense sector to effective leadership and stable governance.

He cited the recent 'Operation Sindoor' as an instance of decisive action.

"Terrorist activities have nearly ceased in regions outside the borders. While incidents continue in Kashmir, we have taken a strong stance against them. Terrorists planned to disrupt India's governance through a 'Red Corridor' from Pashupati in Nepal to Tirupati."

"Currently, Naxalism has decreased by 70 percent. Our Union Home Minister has declared that Naxalism will be entirely eradicated from the nation by March 2026," he stated.

"We have safeguarded Indians facing challenges globally. We successfully repatriated our citizens during the Russia-Ukraine war and the Afghanistan crisis," he added.

"During the Covid-19 pandemic, there were predictions of millions of deaths in India and a potential collapse of the nation."

"However, under Prime Minister Narendra Modi's leadership, India has become the fastest-growing country in the post-Covid era, and this trend continues today," he stated.

He highlighted that India is the only nation to have administered over 240 crore vaccine doses to 140 crore people.

Additionally, India has successfully exported vaccines, the Union Minister mentioned.

He expressed optimism that India will soon rise to the position of the world's third largest economic power.

"In 2024, digital transactions surged to Rs 24 lakh crore, with UPI accounting for 83 percent of this amount," he noted.

Union Minister Joshi recalled that former Finance Ministers had scoffed at Prime Minister Modi regarding the country's digitalization.

He attributed this success to the integration of Jan Dhan, Aadhaar, and mobile technology.

Furthermore, he stated that Rs 44 lakh crore is being directly transferred to beneficiaries' accounts through the direct benefit transfer scheme.

He also shared insights into achievements across various sectors.

Prominent figures present included former Deputy Chief Minister and MP Govind Karajol, MP P.C. Mohan, Rajya Sabha member Jaggesh, Chief Whip of the Legislative Assembly Doddanagouda H. Patil, State General Secretary Nandish Reddy, State BJP Vice President Raju Gowda Nayak, Bengaluru South District President and MLA C.K. Ramamurthy, and Bengaluru Central District President Saptagiri Gowda.