Prime Minister Narendra Modi on Wednesday said India’s economy will be among the world’s top three economies during his third term in office. The country is now ranked fifth in the world behind the US, China, Germany and Japan.
Ahead of the 2024 general elections, Modi said in a speech at the new International Exhibition-cum-Convention Center (IECC) complex that when his government took office in 2014, India’s economy was ranked tenth and now it has taken the fifth position in the world. “We have to achieve the goal of making India a developed country in the next 25 years,” he said after unveiling a world-class convention center in the heart of the national capital.
India can definitely eradicate poverty, he said, referring to the NITI Aayog report. “We will make India a developed nation that will work on the principle of nation first, citizen first,” he said while inaugurating the complex, which he renamed the Bharat Mandapam. He said the Bharat Mandapam, which will host the G20 summit in September under India’s presidency, “The world will witness the rising status of India when the newly constructed Bharat Mandapam hosts the G20 summit,” Modi said.
The IECC complex is the largest MICE (Meetings, Incentives, Conferences and Exhibitions) destination in India. In terms of indoor spaces for events, the complex finds its place among the top exhibition and congress complexes in the world. It includes several modern facilities, including convention centers, exhibition halls and amphitheatres.
PM Modi said that today India is witnessing a revolution in redevelopment as ₹34 trillion has been spent in the last nine years to create infrastructure. This year too, capital expenditure is kept at ₹10 trillion, he said. He said that 40,000 km of railway lines had been electrified in the last nine years compared to just 20,000 in the seven decades before that.
