New Delhi, February 5: Prime Minister Narendra Modi stated on Thursday that Trade Agreements prepared for the future are integral to the country’s long-term economic strategy. He emphasized that India is rapidly moving towards becoming the world’s third-largest economy.
In response to the motion of thanks on the President’s address in the Rajya Sabha, PM Modi remarked, “The government is focusing on future-ready policies with the mantra of reform-performance-change. The country has boarded the ‘Reform Express,’ moving away from being one of the five most vulnerable economies and heading swiftly towards becoming the third-largest economy in the world.”
He further noted that a new world order was established after World War II, and the world is now shifting again towards a new order, with India positioned as a ‘global brother.’
In his speech, PM Modi referred to India’s deal with the EU as the “Mother of All Trade Deals.” Just days prior, India announced a significant trade agreement with the United States and the European Union.
The Prime Minister added that the country’s growing economic influence and partnerships firmly establish it in the changing global landscape, showcasing India’s increasing role as a reliable partner on the world stage.
He stated, “The first quarter of the 21st century is complete. However, the second quarter is crucial, much like the second quarter of the last century was for India’s freedom struggle. I can clearly see that this second quarter will also prove to be equally capable in building a developed India.”
PM Modi also mentioned that with a strong manufacturing system, the world will be eager to trade with India.
He concluded, “Among major economies, India’s growth rate remains consistently high and strong, and low inflation has been appreciated worldwide.”