India will soon be world's third-largest economy: PM Modi

IANS July 3, 2025 539 views

PM Modi confidently stated India is on track to become the world’s third-largest economy, backed by strong governance and innovation. He emphasized India’s global contributions, including its thriving startup ecosystem and leadership in science. During his Ghana visit, Modi reinforced India-Africa partnerships through infrastructure and trade initiatives. The Prime Minister also received Ghana’s highest civilian honor, recognizing his diplomatic efforts.

"On the foundations of stable polity and good governance, India will soon be the third largest economy." – PM Narendra Modi
India will soon be world's third-largest economy: PM Modi
Accra, July 3: Prime Minister Narendra Modi on Thursday said that over the past decade, India has seen a major transformation across the spectrum, and on the foundations of stable polity and good governance, the country will soon be the world’s third-largest economy.

Key Points

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Modi highlights India's 16% global growth contribution

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India now has third-largest startup ecosystem

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Aims for developed nation status by 2047

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Strengthens Africa ties with infrastructure projects

During his historic Parliament address here, PM Modi said India already contributes nearly 16 per cent to global growth.

“Today, India is the fastest growing emerging economy. On the foundations of stable polity and good governance, India will soon be the third largest economy,” the Prime Minister told the esteemed house.

PM Modi further stated that India’s demography is paying its dividend.

“India now has the world’s third largest start-up ecosystem. India is an innovation and technology hub, where global companies want to converge,” said PM Modi in his address.

“We are recognised as the Pharmacy of the world. Indian women today lead in science, space, aviation and sports. India landed on the Moon. And, today an Indian is in orbit giving wings to our human space flight mission,” he added.

The Prime Minister further stated that people of India have resolved to make India a Developed Nation by 2047, when “we celebrate 100 years of Independence”.

“As Ghana continues to pursue the path of progress and prosperity, India shall walk with you, shoulder to shoulder, on this road,” he commented.

In 2015, New Delhi hosted the India-Africa Summit.

“President John Mahama was one of our esteemed guests. In 2017, India hosted the annual meeting of the African Development Bank. We have expanded our diplomatic presence to 46 countries across Africa,” said PM Modi.

Over 200 projects across the continent enhance connectivity, infrastructure and industrial capacity. Every year, the India-Africa Business conclave generates new opportunities.

“In Ghana, we inaugurated the Tema – Mpakadan rail line last year. It is the largest infrastructure project in this part of the African region. We welcome Ghana’s own efforts to accelerate economic integration under the African Continental Free Trade Area. Ghana also holds great potential to become an IT and innovation hub in the region. Together, we will shape a future, full of promise and progress,” the Prime Minister emphasised.

Earlier, PM Modi was conferred The Officer of the Order of the Star of Ghana, the country's highest civilian honour, by President Mahama. PM Modi thanked Ghana's President for the honour and called it a "matter of immense pride".

Reader Comments

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Ananya R
While the economic growth is impressive, I hope this prosperity reaches all sections of society equally. The gap between rich and poor is still concerning. Development should be inclusive - what about better healthcare and education in rural areas?
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Vikram M
India's partnership with African nations is a game-changer! The Tema-Mpakadan rail project shows our engineering prowess. More such collaborations will create jobs and strengthen our global position. Jai Hind! 🚀
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Priya S
As a young entrepreneur, I'm thrilled about our startup ecosystem growth! But the government must simplify GST procedures and reduce compliance burdens for small businesses. That would truly accelerate our economic journey.
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Sarah B
India's rise is undeniable, but let's not forget environmental costs. With rapid industrialization, air quality in our cities is worsening. Can we balance growth with sustainability? Future generations will thank us for thinking green.
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Karthik V
The Pharmacy of the World title makes me proud! During COVID, we proved our pharma strength. Now if only medicines could become more affordable for common people... That would be real progress.
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Meera T
Our PM receiving Ghana's highest honor shows India's growing global respect 👏 But beyond diplomacy, I hope African partnerships

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India economy PM Modi third largest economy GDP growth Africa relations