New Delhi: Noting that India is going to become world’s third-largest economy very soon, Prime Minister Narendra Modi said on Saturday that experts are saying that India’s contribution to the world’s growth is going to be around 20% very soon and the reason behind the resilience in India’s economy is the macroeconomic stability that has come to the country in the last decade.
Addressing the ET World Leaders Forum 2025, PM Modi spoke of India’s strides in different fields, stating that the first Made in India chip will come to the market by the end of this year and work is being done rapidly on Made in India 6G.
India is the fastest-growing major economy. An important reason behind this is macro-economic stability. pic.twitter.com/Xn3fqETRKX
— Narendra Modi (@narendramodi) August 23, 2025
He said India is the world’s fastest-growing major economy.
“We are going to become the world’s third-largest economy very soon. Experts are saying that India’s contribution to the world’s growth is going to be around 20% very soon. The reason behind this growth, this resilience that we are seeing in India’s economy, is the macroeconomic stability that has come to India in the last decade. Today, our fiscal deficit is expected to come down to 4.4 per cent. And this is when we have faced such a big crisis of Covid. Today, our companies are raising record funds from the capital market,” he said.
“Today, our banks are stronger than ever. Inflation is very low, interest rates are low. Today, our current account deficit is under control. Forex reserves are also very strong. Not only this, every month lakhs of domestic investors are investing thousands of crores of rupees in the market through SIP,” he added.
PM Modi said semiconductor-related factories have started coming up in India.
“By the end of this year, the first Made in India chip will come in the market.” “We are working rapidly on Made in India 6G. We all know that semiconductor manufacturing could have started in India 50-60 years ago, but India missed that too, and the same thing continued for many years to come. Today we have changed this situation. Semiconductor-related factories have started coming up in India. By the end of this year, the first Made in India chip will come in the market,” he said.
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