PM Modi says India will become third largest economy in his next term, praises role of mobility sector in achieving development goals
Prime Minister Narendra Modi expressed confidence that India will become the world's third largest economy during the third term of the Bharatiya Janata Party (BJP) government.
New Delhi: Prime Minister Narendra Modi on Friday expressed confidence that India will become the world's third largest economy during his next term. Speaking at the Bharat Mobility Global Expo at Bharat Mandapam in New Delhi, the Prime Minister highlighted the achievements of the BJP-led NDA government in the last decade.
“It is certain that India will become the third largest economy in the world during our third term. During the last decade, around 25 crore people have come out of poverty due to the government's efforts. Today's India is moving forward with the aim of making the country 'developed' by 2047. The mobility sector will play a major role in achieving this goal,” Prime Minister Modi said.
The economy is expanding at a rapid pace
In his address at the fair, Prime Minister Modi said that the country's economy is expanding at a rapid pace and said that the current era is the golden age for the mobility sector.
“I've always said this is the right time. This mantra fits well with the mobility sector. India is on the moon and moving fast. This is the beginning of the golden era for the mobility sector. Today, the country's economy is growing rapidly,” Modi said.
Prime Minister Modi also highlighted the middle class as 'new middle class', which has its own aspirations and hopes. He said: “A new middle class has emerged in the country with its own ambitions and hopes. The income and threshold of the middle class have increased. These factors will drive new heights in the mobility sector. Before 2014, 12 crore cars were sold in India. More than 21 crore cars have been sold since 2014.”
Before 2014 vs. After 2014
Prime Minister Modi noted the development witnessed by the country after the formation of his government at the Center in 2014.
“Before 2014, 2,000 crore electric cars were sold annually. Now around 12 lakh electric cars are sold annually. India has witnessed a 60 percent increase in passenger car sales. The sales of two-wheelers have also increased by 70%.”
Modi further said, “There has been an unprecedented change in the mobility sector. Today's India relies on new policies keeping in mind the future scenario. This vision is also reflected in the interim budget. But after the formation of a new government, we will present the full budget.”
The Bharat Mobility Global Expo showcases India's talents across the mobility and automotive value chain. In addition to public-facing attractions such as karting, the Expo will include exhibitions, conferences, buyer-seller meetings, state sessions and a road safety pavilion.
(With input from agencies)