BRICS: PM Modi Foresees India’s $5 Trillion Economic Power Surge!

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In a resounding declaration at the BRICS Business Forum in Johanessberg, South Africa, Prime Minister Narendra Modi set the stage for India’s economic trajectory, foreseeing India’s ascent to a five trillion-dollar economy. The BRICS forum, consisting of Brazil, Russia, India, China, and South Africa, served as the perfect platform for PM Modi to outline India’s economic prowess.

Highlighting sectors pivotal to India’s growth, including IT, Telecom, FinTech, AI, and semiconductors, PM Modi emphasized India’s dedication to the ‘Make in India, Make for the World’ vision.

Amid global economic uncertainties, PM Modi proudly proclaimed, “Despite the turmoil in the global economy, India is currently the fastest-growing major economy in the world. Soon, India will become a five trillion-dollar economy. There is no doubt that in the coming years, India will be the Growth Engine of the world.”

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PM Modi also acknowledged the remarkable threefold increase in people’s incomes over the past nine years, underscoring the substantial role women play in India’s economic growth.

The BRICS Business Council, commemorating its 10th anniversary, received special recognition from PM Modi for its contributions during the 2009 global economic crisis.

PM Modi’s presence extended to the BRICS Leaders Retreat, where he engaged with other bloc leaders in discussions about global developments.

**India’s Transformative Role in the Global Economy**

PM Modi attributed India’s success to its ability to convert adversity into economic reform opportunities, focusing on reducing compliance burdens and facilitating the ease of doing business.

Taking to X (formerly known as Twitter), PM Modi emphasized, “Over the last few years, we have made immense strides in IT, semiconductors, and other such futuristic sectors. Our economic vision also places immense importance on the empowerment of women.”

Regarding the ease of doing business, PM Modi stressed that India has shifted from ‘red tape’ bureaucracy to ‘red carpet’ treatment for businesses, inviting them to invest in India.

“In the past few years, the reforms we have undertaken in mission mode have led to consistent improvement in the ease of doing business in India. We have reduced the compliance burden. We are replacing red tape with a red carpet,” he affirmed.

**Digitization’s Impact on India**

PM Modi also shed light on India’s strides in technology and digital finance. He noted, “India has made a significant leap in financial inclusion, with rural women benefiting the most.”

India’s impressive number of digital transactions, topping the global charts, makes the country highly attractive for nations like UAE, Singapore, and France to engage in this thriving digital ecosystem.

As India continues its journey towards becoming a five trillion-dollar economy, PM Modi’s vision and commitment to economic growth are set to shape the nation’s future, positioning it as a key player on the global economic stage.

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