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Prime Minister Narendra Modi has set an ambitious goal for India: to transform from a nation that gained independence in poverty to a developed country by 2047, marking its 100th year of independence.
Vision for a Developed India
Speaking at the CII post-Budget conference in Delhi, PM Modi highlighted the strides India has made since gaining independence.
“We achieved independence as a poor nation and those who wished to exploit us did so until the very end. In 100 years after overcoming numerous challenges and meeting our goals, India will mark its 100th year of independence as a developed country in 2047,” he said.
Global Attention and Investment Opportunities
PM Modi emphasized that the world is closely observing India’s progress. He noted, “Investors from around the world are eager to come here and world leaders are also optimistic about India. This presents a significant opportunity for our industries that we must not miss.”
Economic Growth and Stability
Discussing the nation’s economic growth, PM Modi stated, “This change is not just about sentiment, it is driven by confidence. Today, India is the world’s fifth largest economy and it won’t be long before India becomes the third largest economy.”
He assured that his government is committed to the promise of making India the third largest economy by the end of his third term.
Sectoral Advancements
Highlighting sectoral growth, PM Modi compared the current government’s achievements to the previous administration, mentioning increased budgets for railways, highways, agriculture, and defense.
He said, “India is focusing on every sector of the economy. Compared to the UPA’s ten-year government, we have increased the railway budget by eight percent. The highways budget has also risen, agriculture spending has grown by over four percent and the defence budget has increased by over two percent.”
Fiscal Prudence as a Role Model
PM Modi called India’s fiscal prudence a global role model, citing the nation’s high growth and low inflation rates despite global challenges.
“India is showing high growth and low inflation in a low-growth and high-inflation global scenario. India’s fiscal prudence despite the pandemic is a role model for the world,” he stated.
Increasing Global Contribution
The Prime Minister highlighted India’s growing contribution to global goods and services exports and its significant role in global growth.
“India’s contribution to the global goods and services export is increasing continuously and India’s share in global growth today has reached 16 percent,” he said.
Budget Highlights for Future Growth
Discussing the Union Budget 2024-25, PM Modi outlined key initiatives aimed at fostering growth, including investments in nuclear power generation, Digital Public Infrastructure for agriculture, and a ₹1000 crore venture capital fund for the space economy. “These new announcements will open new avenues of progress,” he said.
Encouragement to Industry
PM Modi urged the industry to contribute to job creation and investment, aligning with the government’s efforts. “Make Viksit Bharat your motto and work towards it,” he encouraged.
Conference Participation
The conference saw participation from over 1000 industry leaders, government officials, diplomats, and think tanks, both in person and virtually from various CII centers across the country and overseas. This ambitious vision for a developed India by 2047 underscores the government’s commitment to economic growth, sectoral advancements, and global leadership.
