Prime Minister Narendra Modi, addressing the BRICS Business Forum in Johannesburg on Tuesday, said India is the fastest-growing major economy in the world. "Soon, India will be a 5 trillion dollar economy," PM Modi said.
India will become the growth engine for world in coming years, the Prime Minister stressed at the event.
"India will be the growth engine of the world. It's because India turned calamity and tough times into economic reforms. In the last few years, the ease of doing business in India has improved due to the work done in the mission mode...We have focused on public service delivery and good governance...Today in India UPI is used at all levels...Today among all countries in the world, India is the country with the highest digital transaction," PM Modi said.
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"Investor confidence has increased after the implementation of GST and Insolvency and Bankruptcy code in India. Defence and Space sectors opened for the private sector...With the use of technology, we have taken a leap in financial inclusion...Today, UPI is being used by street vendors to those shopping malls...We are actively taking steps to make India a manufacturing hub in the areas of solar energy, wind energy, electric vehicles and green hydrogen," the Indian Prime Minister added.
"In 2009, when the first BRICS summit was held, the world was coming out of a big economic crisis. At that time, BRICS had emerged as a ray of hope for the world economy," PM Modi said.
