India a $10-trillion economy and a hub of countless startups

Indian Prime Minister Narendra Modi at a Global Business Summit in Delhi said , “We want to make India a hub of countless startups. We want to make India the world’s third-largest economy. We want to make India a $10 trillion economy. India aims to provide equal and adequate opportunity to each Indian to grow and prosper.”

Modi laid out his vision for making India a $10-trillion economy and the third-largest in the world. Modi said he wants the nation to have countless start-ups and be a global leader in electric vehicles.

“We want to lead the global drive towards renewable sources of energy and we want to give our people energy security. We want to cut down on import dependence. We want to make India a world leader in electric vehicles and energy storage devices.”

Modi said the outcomes of his government’s focus on Digital India, Start-up India, Make In India and Innovate India are converging and reaping rich dividends.

The prime minister said the engine of growth for his government is running on two parallel tracks – one providing social infrastructure to all particularly for those who were left out and other providing physical infrastructure for all and particularly for generation next to shape their future as per their dreams.

Narendra Modi said “our vision of New India includes addressing the challenges of the future while also solving problems of the past.” In this context, he gave the following examples:

• While India has made its fastest train, it has also eliminated all un-manned railway crossings.

• While India is building IITs & AIIMS at a rapid pace, it has also built toilets in all schools across the country.

• While India is building a 100 smart cities across the country, it is also ensuring rapid progress in over 100 aspirational districts.

• While India has become a net exporter of electricity, it has also ensured that crores of households which were in darkness since independence have got electricity.

Speaking of positive interventions in the social sector, the Prime Minister said that the Government is reaching out to twelve crore small and marginal farmers by providing them a comfort of rupees six thousand every year. This will transfer 7.5 lakh crore rupees or about one hundred billion dollars to our farmers over the next ten years, he added.

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