India Will Soon Become Five Trillion-Dollar Economy, Says PM Modi At BRICS Forum

In his speech at the BRICS Business Forum Leaders' Dialogue on Tuesday in Johannesburg, Prime Minister Narendra Modi highlighted India's tale of economic growth. Prime Minister Narendra Modi said India will soon become a five trillion-dollar economy.

He praised sectors involving IT, telecom, fintech, artificial intelligence, and semiconductors and claimed that India is advancing the idea of "Make in India, Make for the World."

PM Modi said, "Despite the turmoil in the global economy, India is currently the fastest-growing major economy in the world. Soon, India will become a five trillion-dollar economy. There is no doubt that in the coming years, India will be the Growth Engine of the world."

"India has world's 3rd largest startup ecosytem; there are over 100 unicorns," PM Modi at BRICS Business Forum Leaders' Dialogue.

In the statement, Modi expressed pleasure in meeting the various guest nations that have been invited to take part in this event.

"India will be growth engine of the world. It's because India turned calamity and tough times into economic reforms," PM Modi said.

"BRICS Business Forum gave me an opportunity to highlight India's growth trajectory and the steps taken to boost 'Ease of Doing Business' and public service delivery. Also emphasised on India's strides in digital payments, infrastructure creation, the world of StartUps and more. ," PM Modi wrote on X (formerly known as Twitter).

He added, "India believes in 'Make in India, Make for the World.' Over the last few years we have made immense strides in IT, semiconductors and other such futuristic sectors. Our economic vision also places immense importance on empowerment of women."

The BRICS Business Forum was established during the Fifth BRICS Summit, which took place in Durban, South Africa, on March 26-27, 2013. The council's formation was intended to serve as a platform for fostering and enhancing relationships between the corporate sectors of the five BRICS nations in terms of trade, investment, and business development. Ensure that there is constant communication between the governments of the BRICS countries and their business communities. Identify any obstacles standing in the way of closer links in the areas of trade, investment, and economic growth among the BRICS nations, and make recommendations for how to overcome them.