BENGALURU– Prime Minister Narendra Modi on Sunday pushed back against U.S. President Donald Trump’s recent claim that India is a “dead economy,” declaring that India is, in fact, the fastest-growing major economy in the world.
Speaking at the International Institute of Information Technology Auditorium after laying the foundation stone for Bengaluru Metro’s Phase-3 project, Modi highlighted India’s economic rise over the past decade.
“In the last 11 years, our economy has moved from 10th position to 5th, and we are marching toward becoming the third-largest economy,” Modi said. “We achieved this speed through the spirit of reform, perform, and transform — driven by honesty and commitment.”
Citing export data, Modi noted that India’s total exports grew from $480 billion in 2014 to $850 billion today. Electronics exports rose from $6 billion to $38 billion, while automobile exports doubled from $16 billion, making India the world’s fourth-largest auto exporter. He also pointed to Bengaluru’s role in mobile manufacturing, with India now among the top five handset exporters globally.
Modi emphasized India’s progress in digitalization, AI, and semiconductor development, announcing that the country will soon produce its own “Made in India” chip. He said India now accounts for over 50% of the world’s real-time digital transactions through UPI and offers more than 2,200 government services via mobile, including through the Umang app.
He urged Indian tech firms to focus on domestic needs, calling for a “Tech Atmanirbhar Bharat” and encouraging zero-defect, zero-impact manufacturing standards. “India must aim for leadership in emerging technologies, and Karnataka’s talent can lead the vision of a self-reliant nation,” he said.
Modi concluded by reaffirming that India’s journey toward becoming a global technology leader is intertwined with empowering the poor and advancing innovation across sectors. (Source: IANS)
