India will be developed nation by 2047, says PM Modi

Prime Minister Narendra Modi on September 3 stated that India's remarkable economic growth is a "natural by-product" of the nine-year political stability his government has provided. In an exclusive interview with PTI, the Prime Minister expressed his optimism that India will achieve developed nation status by 2047, with a commitment to eliminate "corruption, casteism, and communalism" from national life.

Modi highlighted that India's rapid economic growth over the past decade, which has catapulted it from the 10th largest economy to the fifth largest globally, signifies that India is open for business and on a path of resurgence. He emphasized that the period until 2047 presents significant opportunities for growth and development, especially with India's USD 3.39 trillion GDP surpassing that of the UK.

The Prime Minister attributed this economic success to the political stability and policy clarity his government has provided, leading to numerous reforms in various sectors. India's progress has garnered international attention, with many countries closely observing the country's growth story.

Modi also discussed the importance of combating inflation on a global scale and highlighted India's efforts in this regard as the G-20 Presidency engaged finance ministers and central bank governors to ensure coordinated policy actions.

In addition, the Prime Minister noted India's active participation in international efforts to reform the tax system, emphasizing the significance of these efforts in creating a fair and equitable international tax framework.

As India continues its journey toward becoming a developed nation, Modi stressed the importance of inclusivity, innovation, and sustainability. He envisions a future where the quality of life in India is on par with the best countries globally, and the nation cares for both its environment and cultural heritage.

Economists project India's GDP to exceed USD 5 trillion by 2028, positioning it to become one of the world's largest economies.