Bengaluru: Indian Prime Minister Narendra Modi recently highlighted the rapid growth of India’s economy, stating that the country is on track to become the world’s third-largest economy.
He noted that the push for progress stems from a strong commitment to reform and development. Since 2014, India has seen significant infrastructure advancements. For instance, the metro rail network has expanded from five cities to over 1000 kilometers across 24 cities. Rail electrification has more than doubled, growing from 20,000 km to over 40,000 km. The number of airports has also skyrocketed from 74 to more than 160, and operational national waterways have increased from three to 30.
According to Modi, India’s economic ranking has improved from 10th to among the top five globally in just over a decade. He encouraged the youth of Bengaluru and Karnataka to embrace the ‘Make in India’ initiative, aiming for “zero defect and zero effect” in production. This means creating high-quality products that also benefit the environment.
Modi stressed the importance of technological self-reliance, coining the term “Tech Atmanirbhar Bharat.” He believes that now is the time to focus on developing new technologies that cater to India’s needs.
He praised Operation Sindoor for showcasing India’s technological capabilities in defense and noted the crucial role of Bengaluru’s youth in this success. Modi remarked on the city’s emergence as a symbol of India’s rise in the global tech landscape, attributing this achievement to the hard work and talent of its people.
Historically, Bengaluru’s growth has mirrored the larger tech boom across India, particularly since the liberalization of the economy in the 1990s. This shift turned the city into a major IT hub, attracting talent and investment.
On a global economic level, trade tensions between India and the U.S. have recently flared up. Former President Donald Trump imposed tariffs of up to 50% on Indian imports and criticized India’s dealings with Russia amidst the ongoing Ukraine conflict. Congress MP Rahul Gandhi remarked that Trump’s comments reflect a broader concern about the state of India’s economy, suggesting it’s struggling.
With the debate over tariffs and trade intensifying, many are keeping an eye on how these factors will impact India’s future economic landscape. The opinions of users and reactions on social media reveal a mix of concern and hope, as many Indians wish to see the economy flourish in a rapidly changing world.
These transformative changes and challenges highlight India’s journey as it navigates the complexities of modern economic dynamics.
For more detailed insights on economic trends in India, you can check the World Bank’s latest report.
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