India's Economic Surge: A Global Spotlight

Prime Minister Narendra Modi highlights India's remarkable economic growth despite global uncertainties at the Kautilya Economic Conclave. Emphasizing reforms and infrastructure investments, he outlines India's transition to a top global economy. The conclave discusses vital economic issues, drawing participation from global leaders and financial experts.

Prime Minister Narendra Modi, in a speech on Friday at the Kautilya Economic Conclave in New Delhi, attributed the global optimism surrounding India to the significant reforms introduced by his government over the past decade. He emphasized that India's consistent growth rate of over 7% was achieved despite prevailing global uncertainties.

Addressing the conclave amid global tensions, Modi noted that India's GDP expanded by 8.2% in the 2023-24 financial year, maintaining its status as the fastest-growing major economy. Global rating agencies have raised India's growth forecasts, bolstering investor confidence, which Modi asserts is a result of the country's reformative efforts.

Highlighting India's rise as the world's fastest-growing and fifth-largest economy, Modi pointed to the country's achievements in fintech and manufacturing sectors. The Prime Minister reaffirmed his commitment to structural reforms to make India a developed nation, emphasizing inclusivity in the nation's growth trajectory.

The event highlighted India's ambitious infrastructure investments and the successful implementation of the Production Linked Incentive (PLI) scheme, which has attracted significant investment into manufacturing sectors. Modi also announced progress in semiconductor manufacturing with 'Made in India' chips set to enter the global market soon.

The Kautilya Economic Conclave, organized by the Institute of Economic Growth in partnership with the Union Finance Ministry, convenes over 150 academics and policymakers to deliberate on critical economic issues affecting India and the Global South. The seminar runs from October 4-6 under the theme 'The Indian Era'.

(With inputs from agencies.)