PM Narendra Modi
Prime Minister Modi on Saturday said India has emerged as one of the world’s largest sellers of defense products, reflecting the transformation in the country’s strategic and manufacturing capabilities in the last decade. Speaking at an event in New Delhi, the Prime Minister placed India’s growing defense exports in the broader context of a confident nation moving forward despite global uncertainty.
He said that the first 25 years of the 21st century have been marked by economic turmoil, wars, global pandemics and rapid technological change, which has created an atmosphere of unrest across the world. The Prime Minister said that today we are standing at a stage where one-fourth of the 21st century has passed. In these 25 years, the world has seen many ups and downs, financial crisis, global pandemic, major changes related to technology. We have seen a world divided among ourselves and we are also seeing war.
All these situations, in one way or the other, are becoming a challenge for the world. Today the world is full of uncertainties, but in these uncertain times India stands in a completely different league. India is full of confidence. When the world talks about recession, India keeps writing the story of development.
Economic growth is the basis of progress
The Prime Minister further said that India’s confidence is based on its continued economic momentum. Citing the recently released national economic report, Prime Minister Modi described the growth rate of 8.2% recorded in the second quarter as proof of the country’s strengthening foundation. He stressed that these figures were not just statistical milestones, but called them a clear macroeconomic signal that India is emerging as a leading global growth country.
He said that just a few days ago, India’s GDP figures for the second quarter were released. The growth rate of 8% is a reflection of the new pace of our progress. These are not just numbers. These are strong macroeconomic signals. These show that India is emerging as a major growth driver of the global economy today. He further said that when the global growth rate is around 3 per cent, and the G7 economies are growing at an average of around 1.5 per cent, India has become a model of high growth and low inflation.