India on Track to Become the Third-Largest Economy: PM Modi
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Synopsis
On April 8, 2025, Prime Minister Modi highlighted India's rapid economic ascent to potentially become the third-largest economy globally. He emphasized youth aspirations and government achievements in the first 100 days of 2025, while criticizing delays in projects that hinder development.
Key Takeaways
- India's economic growth has seen it rise from 11th to 5th largest.
- Tax exemptions for income up to Rs 12 lakh benefit youth.
- Government aims for inclusivity in economic policies.
- Performance and swift action are prioritized to overcome delays.
- WAVE Summit aims to enhance the creative industry.
New Delhi, April 8 (NationPress) Prime Minister Narendra Modi announced on Tuesday that India is on the verge of becoming the third-largest economy in the world.
"In merely a few years, we have ascended from being the 11th largest economy to now holding the position of 5th largest," the Prime Minister remarked, emphasizing the swift economic advancement.
As of 2025, India continues to hold the title of the fifth largest economy globally, behind the US, China, Germany, and Japan in terms of total GDP.
During a media event, PM Modi showcased the government’s accomplishments in the first 100 days of 2025, underscoring the role of youth aspirations in shaping the nation's future.
"Youth aspirations have driven our initial 100-day decisions. We have eliminated taxes on an income of Rs 12 lakh, which will greatly benefit young professionals. We became the fourth nation globally to permit satellite docking and undocking, are liberalizing the nuclear energy sector akin to what we did with the space sector, and we have also proposed establishing the 8th Pay Commission. Furthermore, the gig economy will receive social security coverage," he stated, affirming that inclusivity is a policy, not merely a promise.
He emphasized “the mantra of performance” as the driving force behind Rising Bharat.
Stressing that project delays hinder national progress, while rapid performance fuels development, the PM asserted, “Delay is the enemy of development, and our government is dedicated to overcoming this adversary.” He referenced the example of Assam’s Bogibeel Bridge, whose foundation was laid by former Prime Minister Deve Gowda in 1997 and initiated by Prime Minister Atal Bihari Vajpayee. Yet, the project faced delays under subsequent administrations, causing difficulties for millions in Arunachal Pradesh and Assam, he noted.
He pointed out that his government revitalized the project in 2014 and successfully completed it within four years, in 2018. He also mentioned Kerala’s Kollam Bypass Road project, which had been stalled since 1972. He highlighted that prior governments took 50 years to make progress, while his administration completed it in just five years.
Discussing the forthcoming WAVE Summit, an initiative by the government, PM Modi stated, “Our movie, podcast, and gaming industry is flourishing, and we have decided to elevate it through the ‘Create in India’ initiative via the WAVE platform.”
