Union Home Minister Rajnath Singh has said India will feature among the top three economies in the world by 2025-30.

Singh and Union Road and Shipping Minister Nitin Gadkari laid foundation stones for many development projects during their two-day visit to Andaman and Nicobar Islands, which began on Thursday.

Singh, who was speaking at an event in Port Blair in Andaman and Nicobar Islands Islands on Thursday, lauded the efforts of Union Shipping Minister Nitin Gadkari and said that development projects like the ones inaugurated on the occasion contribute towards the development of the country's economy, according to a statement by Ministry of Shipping.

"Under Prime Minister Narendra Modi's dynamic leadership, India, which now figures in the top ten economies of the world, will emerge as one of the top three economies by 2025- 30," the home minister has said.

Singh and Gadkari inaugurated an alternate sea route to Baratang Island and laid the foundation stone for extension of dry dock in Andaman and Nicobar Islands.

Singh said that the home ministry's advisory panel on Andaman and Nicobar Islands recently held a meeting and deliberated on various issues with regard to the islands.

On the prevailing security situation, the home minister said that development and security of the country was of uttermost importance.

"Erecting walls and boundaries will not provide security to the country, our strength lies in sea and air which need to be strengthened," he added.

Stating innovation, technology, research and entrepreneurship were the need of the hour, Gadkari urged for private investment to developing shipbuilding industry in the islands.

He announced that 14 new ships will be added in Andaman and Nicobar Islands in another three years.

Asserting that there is a need to replace diesel-generated power, he said development of hydel, solar and wind power in the Andaman and Nicobar Islands must be explored.

"As a step towards curbing pollution caused by diesel power generation, plans are being made to set up LNG and CNG based power in the Islands soon," he stressed.

The minister also urged private investors to develop cruise tourism in the islands.