PM Modi’s assertion of India’s transformation of crises into opportunities mirrors the nation’s resolute spirit. Through robust reforms and a zealous dismantling of bureaucratic barriers, India has ignited an unprecedented surge in investor confidence.
Prime Minister Narendra Modi’s at the BRICS Business Forum Leaders’ Dialogue in Johannesburg, South Africa, reaffirmed India’s resolute commitment to ascending to a $5 trillion economy. His address encapsulated India’s steadfast momentum as the world’s fastest-growing major economy, poised to transform its ambitious target into a reality.
Amidst the presence of BRICS leaders, including Brazil, Russia, and South Africa, Modi expressed profound gratitude to South African President Cyril Ramaphosa for orchestrating the pivotal meeting. “My heartiest congratulations on the 10th anniversary of the BRICS Business Council. Over the past decade, the council has played a pivotal role in fostering economic cooperation,” Modi lauded, highlighting the council’s instrumental role in shaping the collaborative vision of BRICS.
Chinese President Xi Jinping was not present at the Forum, however, his commerce minister read out a statement at BRICS business forum calling for the expansion of the grouping. It is interesting to note, Beijing, while pushing for expansion of BRICS, lacks the same enthusiasm for expansion of the United Nations Security Council.
The inception of BRICS in 2009 illuminated a glimmer of hope for the global economy as it emerged from the throes of a huge financial crisis. A decade later, against the backdrop of the ongoing Covid-19 pandemic and escalating tensions, BRICS continues to uphold its role as a beacon of economic resilience. In the words of Modi, “Amidst the prevailing challenges, the role of BRICS takes on even greater significance, underscoring its pivotal position in navigating the tumultuous economic terrain.”
Modi’s assertion of India’s transformation of crises into opportunities mirrors the nation’s resolute spirit. Through robust reforms and a zealous dismantling of bureaucratic barriers, India has ignited an unprecedented surge in investor confidence. The Prime Minister’s discourse unveiled the government’s strategic focus on infrastructure development, digitalization, and manufacturing, envisioning these facets as catalysts propelling India’s economic trajectory.
The Prime Minister’s address gave out a clarion call for strengthened cooperation among BRICS nations to invigorate trade and investment. In an era where the contours of the global economy stand poised for transformation, Modi envisions BRICS as an instrumental player in shaping this evolution.
His words resonated powerfully as he heralded India’s unwavering commitment to becoming the world’s growth engine, asserting, “India will propel global growth. Our capacity to transcend adversities into economic reforms has culminated in a conducive environment for business.”
In the crucible of transformative reforms, India’s strides have propelled it into the echelons of the world’s fastest-growing economies. With the implementation of landmark initiatives such as the Goods and Services Tax (GST) and the Insolvency and Bankruptcy Code, India has surged forward, bolstering investor confidence. In parallel, the opening of defence and space sectors for private participation has ignited innovative potential, heralding an era of technological advancement.
The digital revolution sweeping across India further underscores the nation’s meteoric rise. The widespread adoption of the Unified Payments Interface (UPI) has permeated every facet of society, from street vendors to shopping malls, catapulting India to the pinnacle of digital transactions. As Modi pronounced, “Amongst the nations of the world, India proudly stands as a beacon of digital transactions, manifesting the power of technology in fostering financial inclusion.”
The Prime Minister’s address extended beyond economic precepts, casting a far-reaching vision of India’s cosmic ascent. The assertion of India’s impending US$5 trillion economy serves as a testament to its unyielding resolve and dynamic innovation. India’s trajectory from economic promise to manifest prosperity exudes an unparalleled spirit of resilience and indomitable will.
Rooted in a series of reforms, innovation, and unrelenting determination, India’s journey to a US$5 trillion economy is a testament to its resounding commitment to shaping a thriving future.India’s unyielding path to economic eminence: a vision for a $5 trillion economy
https://www.financialexpress.com/economy/indias-unyielding-path-to-economic-eminence-a-vision-for-a-5-trillion-economy/3220020/
