- Thursday, February 27, 2025
By: Shubham Ghosh
INDIAN prime minister Narendra Modi on Monday (7) said the economy of India was the fastest-growing globally and the world has taken note of the Asian nation’s economic strides in the middle of a once-in-a-lifetime pandemic.
“Today India among other big economies is the fastest growing economy. Even during the Covid-19 period, our farmers produced record quantity foodgrains. Over 80 crore people of the country were provided with free ration,” Modi said while participating in the debate on the motion of thanks on the president’s address in Lok Sabha.
He said the country’s handling of the pandemic is an “example for the world”.
Noting a rise in India’s exports, the prime minister said that India has recorded highest exports in various sectors including agriculture, mobile, software and defence.
India is making its identity in defence exports as well, Modi said, adding that it is because of the country’s vision of Atmanirbhar Bharat (Self-reliant India).
“Total exports of India have touched record high figures even despite the pandemic,” Modi said.
He also noted that India recorded its highest-ever foreign direct investment inflow even amid the trying times of the pandemic.
The PM GatiShakti National Master Plan, Modi said, will encompass economic transformation, seamless multimodal connectivity and logistics efficiency.
He added that under the Atmanirbhar Bharat campaign, India is now becoming part of the global value chain (from manufacturing to service sector).
“Our big focus is on MSMEs and textile – the labour-intensive sectors,” he added.
He also said that his government has formulated a scheme worth Rs 3 lakh crore (£29.7 billion) to protect micro, small and medium enterprises.
Highlighting the works of the government, he said that “for the first time under Svanidhi Yojana, our street vendors are getting loans and are benefitting from digital transactions”.
“Space, defence, drones and mining are open to private sector, inviting them to be a part of India’s development,” Modi said.
