Prime Minister Narendra Modi on Saturday said India is the world’s fastest-growing major economy and is moving quickly towards becoming a global leader. Speaking in Bengaluru, just days after US President Donald Trump called India’s economy “dead” amid rising trade tensions, he credited the nation’s momentum to the government’s “reform, perform, transform” policy.
“India is currently the fastest-growing major economy in the world. In the past eleven years, India’s economy has risen from the 10th position to the top five globally and is rapidly progressing towards becoming one of the top three economies,” he said.
Trump’s remarks followed his announcement of 25 percent punitive tariffs on Indian goods over the country’s purchase of Russian oil. India has called the move “unfair, unjustified and unreasonable” and pledged to protect its national interests. The tariffs, set to take effect on August 27, will place Indian exporters at a disadvantage compared to competitors in Bangladesh, Indonesia and Vietnam.
Modi also urged stronger self-reliance in technology under a “Tech Atmanirbhar Bharat” vision. “Indian tech companies have made their mark on the global stage. They have built software and products for the world. The time has come to give greater priority to the needs of India. We must move forward in manufacturing new products,” he said.
He noted India’s export growth, highlighting that total exports rose from 468 billion dollars before 2014 to 824 billion dollars today. Electronics exports increased from 6 billion to 38 billion dollars, and mobile phones have shifted from being largely imported to India becoming one of the top five exporters.
The Prime Minister inaugurated the 19-kilometre Yellow Line of the Bengaluru Metro and laid the foundation stone for Phase 3. He also flagged off three Vande Bharat Express trains.
Referring to Operation Sindoor, Modi credited its success to indigenous defence technology and contributions from Karnataka’s youth. He said Pakistan, which “came to defend the terrorists”, was forced “to its knees” within hours.
Karnataka Chief Minister Siddaramaiah called for greater central funding for the metro, noting the state has invested more than the Centre. Modi responded by urging cooperation over political rivalry, saying, “Whether it is the central government or the state government, all are committed to serving the people.”
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