Committed to make India the third-largest economy, asserts Prime Minister Narendra Modi

Trade and globalisation have lifted hundreds of millions out of poverty. We see global optimism and confidence in the Indian economy. India is seen as a combination of openness, opportunities and options, said Prime Minister Narendra Modi while virtually addressing the G20 Trade and Investment Ministerial meeting.

Jaipur (Rajasthan): Prime Minister Narendra Modi on Thursday said that India has become the fifth-largest economy in the world, a result of sustained efforts taken by his government.

Virtually addressing the G20 Trade and Investment Ministerial Meeting, which is being held in Jaipur, Prime Minister Narendra Modi said, "This region is known for its dynamic and enterprising people. Throughout history, trade has led to an exchange of ideas, cultures and technologies. It has brought people closer."

"Trade and globalisation have lifted hundreds of millions out of poverty. We see global optimism and confidence in the Indian economy. India is seen as a combination of openness, opportunities and options. During the last nine years, India has become the fifth-largest economy which is the result of our sustained efforts," the Prime Minister said.

The Prime Minister is currently in South Africa, where he is taking part in the BRICS summit. The Prime Minister also maintained that his government is committed to making India, the third-largest economy.

"We have brought policy stability. We are committed to making India the third-largest economy in the next few years. Current global challenges from the pandemic to geo-political tensions have tested the world economy. At G20 it is our responsibility to build confidence in international trade and investments. We must build resilient and inclusive global value chains that can withstand future shocks," added the Prime Minister.

According to the Prime Minister, for his government, MSME means maximum support to micro small and medium enterprises. "MSMEs account for 60 to 70 per cent of employment and contribute 50 per cent of the global GDP. They need our continuous support. Their empowerment translates to societal empowerment. For us, MSME means maximum support to Micro Small & Medium Enterprises," the Prime Minister added.