PM Modi was unveiling a world-class convention centre at Pragati Maidan here, ahead of the G20 Leaders’ Summit on September 9-10.

Prime Minister Narendra Modi on Wednesday laid out the blueprint for a third term of his government, and said this will be marked by faster economic growth and India becoming the third largest economy. “We have to achieve the target of making India a developed nation in the next 25 years. It is Modi’s guarantee,” he said.

Modi was unveiling a world-class convention centre at Pragati Maidan here, ahead of the G20 Leaders’ Summit on September 9-10.

His assertions came amid a sharp political stand-off with the Opposition and Parliament considering a no-confidence motion against the government over the ethnic violence in Manipur.

“In 2014 India was the 10th biggest economy in the world and now it is the 5th largest economy. On the basis of the track record in our third term I will assure you that we will be in the top three economies of the world,” Modi said, exuding confidence.

Citing a recent Niti Aayog report which said that 135 million people were lifted out of poverty between 2015-16 and 2019-21, the prime minister said the country was definitely on its path to eradicate poverty.

The size of the Indian economy increased by over 87% in US dollar terms in the nine years to 2023. The nominal gross domestic product reached $3.75 trillion in 2023, from around $2 trillion in 2014, moving from 10th largest to 5th largest economy in the world.

The convention centre, built at the cost of Rs 2,700 crore and billed as among the biggest and most modern in the world, is named ‘Bharat Mandapam’.

“I assure the countrymen India’s development journey will move ahead even faster from here. You will see your dreams coming true in front of your eyes,” he said. “In India there is a revolution of new construction and reconstruction happening and in the last 9 years, Rs 34 trillion have been spent on infrastructure. This year too Rs 10 trillion have been provided for infrastructure,” Modi said.

Giving out figures for infrastructure expansion, the prime minister said in the last nine years 40,000 km of railway tracks have been electrified as against 2,000 km in the previous 70 years.

Before 2014, only 600 metres of metro tracks were being laid in a month now it has gone up to 6 km a month. The length of rural roads has increased to 725,000 km from 400,000 km in 2014. Number of airports has gone up to 150 from 70 earlier and city gas distribution has been expanded to 600 towns and cities as against 60 earlier.

He said even the reports of international agencies point out that India is close to ending extreme poverty and credited the policies made and the decisions taken by the government in the last 9 years. The prime minister said that the government is looking at permanent solutions to the problems and planning in a way that the new infrastructure has the support to help its full utilisation.

The International Exhibition-cum-Convention Centre (IECC) will be complemented by expansion of the Delhi airport and the new international airport coming up in Greater Noida. The world’s biggest museum ‘Yuge Yugeen Bharat’ would be coming up in Delhi and the hospitality industry in Delhi NCR also expanded considerably.

“This indicated a planned approach of creating an entire ecosystem for conference tourism,” Modi said. “We have to think big to be a developed country.”

He said world’s biggest solar-wind park, the highest rail bridge, the longest tunnel, the highest motorable road, the biggest cricket stadium, the world’s tallest statue, and Asia’s second-largest railroad bridge are in India.

The first big conference that the IECC will hold is the G-20 leaders’ Summit in September. To mark the occasion Modi released a G-20 Stamp and two commemorative coins of `75 and `100 denomination.

With a campus area of about 123 acres, the complex inaugurated on Wednesday will be one of the largest MICE (Meetings, Incentives, Conferences, and Exhibitions) destinations in the world. The convention centre will have a seating capacity 7,000 individuals and an amphitheatre with a seating capacity of 3,000 individuals.

The prime minister said ‘Bharat Mandapam’ will act as a platform for showcasing the capabilities of the country’s startups, become a witness to the performance of artists and actors and provide a platform to showcase the efforts of handicraft artisans.

https://www.financialexpress.com/economy/pms-guarantee-growth-to-pick-up-in-third-term-says-india-will-be-third-largest-economy/3188535/