India Wants To Be The Third Largest Economy In The World: PM Modi

Addressing the Indian diaspora cheering him on at the iconic Marvel Stadium, Australia, PM Modi unveiled the new national slogan "grow more, achieve more", whilst announcing India's aspirations to be the world's third largest economy.

Earlier, the IMF noted that India is holding on to repute of being the world’s fastest-growing major economy

India’s growth projections are over twice the global numbers, as the report gave a 3% projection for the world economy’s growth this year.

Shifting focus to India's mega accomplishments, he said,"Over the last 12 years, India has emerged as the third biggest  startup ecosystem with over 2 lakh startups. Every month over 4,000 startups are registered in India."

Further, he noted, "An Indian startup is on the cusp of launching its own satellite," while adding that sectors like defence and space, were not open to private entrepreneurship earlier.

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On a lighter note, he shares his observations of local diaspora commercial hubs in Australia.

"Someone showed me a video of one such market. The video mentioned that sales are constantly going on there. People get completely swept up in the excitement of these sales; even if one isn’t in the mood to shop, one ends up buying something anyway. People get completely dazed in the craze of sales," he said.