Title: India racing to be among top 3 economies: PM Modi after Trump’s ‘dead economy’ remark
In a bold statement, Indian Prime Minister Narendra Modi has declared that India is rapidly advancing towards becoming one of the top three economies in the world. This comes just days after US President Donald Trump called India’s economy “dead”. The Prime Minister made these comments while addressing an event in Bengaluru, highlighting the country’s impressive economic growth over the past eleven years.
Trump’s “dead economy” remark was made during a rally in the United States, where he criticized India’s economic policies and accused the country of taking advantage of the US. However, Prime Minister Modi has taken a different stance, emphasizing India’s rapid growth and its potential to become one of the top three economies.
“We are the fastest-growing major economy in the world. We are rapidly advancing towards becoming one of the top three economies,” PM Modi said. He also pointed out that in the last eleven years, India has moved from the 10th position to the top five economies globally.
India’s economic growth has been impressive in recent years. The country has consistently maintained a high growth rate, with the GDP growing at over 7% per annum. The government has implemented various reforms to boost the economy, including the Goods and Services Tax (GST), the Insolvency and Bankruptcy Code (IBC), and the demonetization of high-denomination currency notes.
The Prime Minister’s statement comes at a time when India is facing several challenges, including a slowdown in economic growth, high unemployment rates, and a growing trade deficit. However, PM Modi’s confidence in India’s economic prospects is reflected in the country’s rapid growth in recent years.
India’s rise as a major economic power is not limited to its growth rate alone. The country has also become a major player in the global economy, with its trade volume increasing significantly in recent years. India’s trade with the US, in particular, has grown rapidly, with the country becoming one of the largest trading partners of the US.
The Prime Minister’s statement has been welcomed by many in the business community and the government has hailed it as a vote of confidence in the country’s economic prospects. The government has been working to improve the ease of doing business in the country, and has implemented various reforms to boost foreign investment.
India’s economic growth is driven by several factors, including its large and growing middle class, its young and educated workforce, and its strategic location in the Asian region. The country has also been working to improve its infrastructure, including its transportation and energy sectors, to support its economic growth.
In conclusion, Prime Minister Modi’s statement reflects India’s confidence in its economic prospects and its potential to become one of the top three economies in the world. The country has made significant progress in recent years, and its growth prospects look bright. However, there are also challenges that the country needs to address, including a slowdown in economic growth, high unemployment rates, and a growing trade deficit.
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