India Moving Rapidly Towards World’s Third-Largest Economy: PM Modi

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Prime Minister Narendra Modi on Sunday projected India’s economic rise and Gujarat’s growing industrial strength as he inaugurated the Vibrant Gujarat Regional Conference for Saurashtra and Kutch in Rajkot, calling the two regions key engines of the country’s future growth.

Addressing investors, industry leaders and policymakers, the Prime Minister said India is steadily moving towards becoming the world’s third-largest economy, with global confidence in the country at an all-time high. He underlined that Gujarat has played a decisive role in this transformation, citing strong macroeconomic indicators, controlled inflation and sustained growth momentum.

 

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Reflecting on India’s progress over the last decade, PM Modi said the country has emerged as a global leader across multiple sectors. India is now the world’s largest producer of milk, generic medicines and vaccines, while ranking second in mobile phone manufacturing and third in startups, aviation markets and metro rail networks. He added that India has also become the largest consumer of mobile data globally and home to the world’s leading real-time digital payments platform through UPI.

Turning attention to Saurashtra and Kutch, the Prime Minister described the regions as pivotal to the Aatmanirbhar Bharat mission and India’s ambition to become a global manufacturing hub. Highlighting Rajkot’s industrial capacity, he said the city alone hosts over 2.5 lakh MSMEs, producing a wide range of goods—from basic tools to sophisticated components used in automobiles, aircraft, fighter jets and space technology.

PM Modi also recalled the challenges the regions once faced, including devastating earthquakes, prolonged droughts, water scarcity and unreliable electricity supply. He said the transformation of Saurashtra and Kutch stands as an example of how resilience, honest effort and long-term planning can change destinies. Today, he noted, these regions are no longer emerging markets but anchor zones driving India’s economic expansion.

Emphasising India’s growing global credibility, the Prime Minister said international institutions and experts increasingly view the country as a stabilising force amid global uncertainty. Political stability, policy continuity and the rising purchasing power of a growing neo-middle class have made India a hub of opportunity, he added, urging investors to see the present moment as ideal for investing in Saurashtra and Kutch.

PM Modi also spotlighted the regions’ role in India’s green transition. He announced that Kutch is home to the world’s largest hybrid renewable energy park, with a planned capacity of 30 gigawatts—five times the size of Paris. In addition, Kutch and Jamnagar are emerging as major centres for green hydrogen production, while a large-scale Battery Energy Storage System is being developed in Kutch to support sustainable energy infrastructure.

The event was attended by Gujarat Chief Minister Bhupendra Patel, Deputy Chief Minister Harsh Sanghavi and other senior officials, marking another step in positioning Gujarat—and India—as a global destination for sustainable investment and growth.

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