Prime Minister Narendra Modi on Saturday said India is the world’s fastest-growing economy, powered by a decade of macroeconomic stability . He noted that the fiscal deficit is narrowing, banks are stronger than ever, and lakhs of domestic investors are consistently investing thousands of crores in the market through SIPs.
Addressing the ET World Leaders Forum 2025 in New Delhi, PM Modi said, “Today, India is the world's fastest growing major economy. We are going to become the world's third-largest economy very soon.”
Citing experts, he said that India's contribution to the world's growth is going to be around 20% very soon, driven by the resilience in India's economy. The reason behind this “is the macroeconomic stability that has come to India in the last decade.”
He added that despite facing a the big crisis of Covid 19 pandemic, “our fiscal deficit is expected to come down to 4.4%.”
Highlighting the foundation of India’s growth story, he said, “Today, our companies are raising record funds from the capital market. Today, our banks are stronger than ever. Inflation is very low, interest rates are low. Today, our current account deficit is under control. Forex reserves are also very strong. Not only this, every month lakhs of domestic investors are investing thousands of crores of rupees in the market through SIP,” PM Modi said.
Turning to GST reforms, PM Modi said the next generation of changes will help bring down prices, stimulate market demand, generate jobs, and enhance both ease of living and ease of doing business.
At the forum, he also spoke about the technology and semiconductor ecosystem, India’s space ambitions, industry and employment opportunities, as well as defence production.
Addressing the ET World Leaders Forum 2025 in New Delhi, PM Modi said, “Today, India is the world's fastest growing major economy. We are going to become the world's third-largest economy very soon.”
Citing experts, he said that India's contribution to the world's growth is going to be around 20% very soon, driven by the resilience in India's economy. The reason behind this “is the macroeconomic stability that has come to India in the last decade.”
He added that despite facing a the big crisis of Covid 19 pandemic, “our fiscal deficit is expected to come down to 4.4%.”
Highlighting the foundation of India’s growth story, he said, “Today, our companies are raising record funds from the capital market. Today, our banks are stronger than ever. Inflation is very low, interest rates are low. Today, our current account deficit is under control. Forex reserves are also very strong. Not only this, every month lakhs of domestic investors are investing thousands of crores of rupees in the market through SIP,” PM Modi said.
Turning to GST reforms, PM Modi said the next generation of changes will help bring down prices, stimulate market demand, generate jobs, and enhance both ease of living and ease of doing business.
At the forum, he also spoke about the technology and semiconductor ecosystem, India’s space ambitions, industry and employment opportunities, as well as defence production.
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