India Will Become The Third Largest Economy In My Third Term: PM Narendra Modi

Prime Minister Narendra Modi held a roundtable meeting with prominent CEOs of tech companies in New York, USA. During the meeting, PM made a strong investment pitch to the business leaders, expressing confidence that India will become the world's third largest economy during his current term as the prime minister.

India is currently the fifth largest economy of the world after the US, China, Germany and Japan with a GDP of around USD 3.9 trillion. India has been the fastest growing large economies of the world with GDP growth rate of over 7 per cent for the last three consecutive years.

Companies should take advantage of India's growth story for collaboration and innovation by co-developing, co-designing, and co-producing in India for the world, harnessing the opportunities from the country's economic and technological growth, he said.

Assuring the business leaders of India's deep commitment to the protection of intellectual property and to fostering tech innovation, Modi highlighted the economic transformation happening in the country, particularly in electronics and information technology manufacturing and semiconductors.

PM Narendra Modi said, "In the last decade, India is moving forward with the mantra of reform, perform and transform...We will give importance to reform according to the need of the hour.

Today, India watches ambitious dreams and works very hard to fulfil those. India is the fifth largest economy. I am confident that in my third tenure as PM, we will achieve the target of becoming the world's third-largest economy.

Technology is an important pillar of Viksit Bharat. We have provided enormous opportunities for technological collaboration and investment. Today, India has one of the most viable digital ecosystems. India has the third largest startup ecosystem."