Prime Minister Narendra Modi on Sunday reacted to US President Donald Trump's recent statement referring to India as a "dead economy," saying instead that the nation is the world's fastest-growing major economy.
Addressing the International Institute of Information Technology Auditorium in Bengaluru after the foundation stone-laying ceremony for the city's Metro Phase-3 project, the Prime Minister stated, "Over the past 11 years, our economy has shifted from the 10th to the fifth position, and we are moving at a pace to become the third-largest economy."
Describing the reasons for this growth, he said, "How did we achieve this speed? We got it from the spirit of reform, perform, and transform — through sheer honesty and commitment."
Underlining the way economic growth is propelling national development, PM Modi compared crucial trade and manufacturing statistics pre- and post-2014. "In 2014, India's overall exports were $480 billion. Now we are at $850 billion. We used to import mobile phones earlier, but now we are among the top five countries exporting mobile handsets. Bengaluru has a major role in this," he added.
The Prime Minister observed increased growth in other areas. "Our electronic exports were about $6 billion before 2014; now they are at $38 billion. Car exports in 2014 were $16 billion, and now that has doubled. India is now the fourth-largest car exporter. It consolidates our 'Atmanirbhar Bharat' vision," he said.
PM Modi highlighted the contribution of technology in developing "New India." "New India's journey is inextricably linked with Digital India. India is on the path to become a world AI leader and we are picking up speed in the area of semiconductors as well. India will soon have its own 'Made in India' chip. We have also become a global benchmark for low-cost, high-tech space missions.". India is progressing with futuristic technology, and behind all this development lies the empowerment of the poor," he stated.
Digitalisation has reached the rural areas as well, according to him. "Through UPI, over 50 per cent of the world's real-time transactions happen in India. Technology is filling the gap between citizens and the government. Nearly 2,200 government services can be accessed through mobile phones.". With the 'Umang' app, citizens will be able to get things done at home," he said, and added that AI-based theft detection technology is also being worked out so that "even the last person in society gets the benefit of the digital revolution."
The Prime Minister asked India's tech industry to look inwards now. "In view of the current situation, our second priority should be 'Tech Atmanirbhar Bharat'.". Indian technology firms have left their imprint on the world. They have created software and products for the globe. It is time to prioritize the requirements of India more. We need to progress in producing new products. Now, software and apps are applied to every field, and India should be on the first page. This is very important," he added.
He asked Bengaluru and Karnataka to take a greater role in the 'Make in India' movement, focusing on the standards of manufacturing. "In emerging sectors, we need to do our best to hold a prominent position. In the 'Make in India' industry, Bengaluru and Karnataka should enhance their presence in the manufacture sector.". My request is that our goods should adhere to the 'zero defects, zero effect' criteria — i.e., no defects in the products and no harm to nature during manufacturing. I am sure that Karnataka's prowess will drive the vision of an 'Atmanirbhar Bharat,'" PM Modi stated.
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