Union Home and Cooperation Minister Amit Shah on Thursday, 27 August 2026, declared that India's ascent to the world's fourth-largest economy — up from 11th place in 2014 — is proof that the country has the capacity to realise Prime Minister Narendra Modi's vision of becoming a developed, leading nation by 2047. Shah made the remarks in Ahmedabad at the RV Patel Pharminova Awards 2026 ceremony, organised by Troikaa Pharmaceuticals Ltd at Sindhu Bhavan.

India's Economic Leap Since 2014

Shah underscored that India's jump of seven ranks in the global economic order over the past decade was not accidental. He attributed the progress to a wholesale transformation in policies, regulations, mindset, and working methods since 2014. 'Companies from across the world are now keen to invest in the country, while India is strengthening its position as a manufacturing hub,' he said.

He pointed to a shift in global investor sentiment, noting that the policy environment had made India a preferred destination for multinational capital. This comes amid a broader global realignment of supply chains away from single-country dependence — a trend India has actively sought to capitalise on.

Pharma Sector as a Strategic Asset

Shah placed particular emphasis on the pharmaceutical industry, calling it 'a national strategic asset of India' and 'a reflection of India's tradition, talent and research capabilities' — rather than merely a commercial sector. He highlighted that approximately ₹67,000 crore of investment had been mobilised in pharmaceuticals, with India recording significant gains in drug exports.

Initiatives such as bulk drug parks, medical device parks, and the Production-Linked Incentive (PLI) scheme were cited as cornerstones of a world-class manufacturing ecosystem. Shah added that these measures would also help reduce India's — and the world's — dependence on China in the global pharmaceutical supply chain. Notably, China's dominance in active pharmaceutical ingredient (API) manufacturing has long been flagged as a strategic vulnerability by Indian policymakers.

The 2047 Vision: Goals and Governance

Shah reiterated that Viksit Bharat 2047 — India's centenary of Independence — required three interlocking pillars: a secure, educated, and culturally grounded society; sustained economic development; and a leading position in the global order. 'The capacity to achieve this goal exists within India,' he said, stressing the need to channel youth talent, frame adaptive policies, and ensure their effective implementation.

He recalled the 'Azadi Ka Amrit Mahotsav' initiative, under which citizens — especially young Indians — were encouraged to study the freedom struggle, assess India's post-Independence journey, and situate the country's current global standing within that arc.

Tribute to the Late Rajnibhai

At the awards ceremony, Shah also paid tribute to the late Rajnibhai, crediting him with understanding the essence of the pharmaceutical business and advancing it with purpose. He said sustained research, scientific capability, entrepreneurship, and sound policy would remain critical to India's 2047 ambitions.

With the next phase of PLI disbursements and bulk drug park operationalisation expected in the coming months, the government's ability to translate these targets into verifiable outcomes will be closely watched by industry and investors alike.