india

Updated: Aug 15, 2019 09:50 IST

Prime Minister Narendra Modi, who returned to a second term in office in May, on Thursday urged people to work together to make India a $5-trillion economy by 2024 as he addressed the nation in his Independence Day speech.

“It is now the need of the hour that we, as Indians, think of a $5 trillion economy,” PM Modi said from the Red Fort.

“After 70 years of governance, our government took the economy to $3 trillion in five years. Why can we not take it to $5 trillion in the next five years?” he asked adding that every Indian must help in the dream.

The Indian economy grew at 6.8%, a five-year low, in 2018-19 and fourth-quarter growth slumped to 5.8% which was a 17-quarter low.

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The PM, who was wearing a multi-coloured turban and white kurta, said countries across the globe are waiting to do business with India.

“Different regions in India have different things to market. Some place has itr, some have saris while others have utensils. We must reach out to the global market under the ‘zero defect, zero defect’ ideal,” said PM Modi.

India was ranked 77 out of 190 countries that are included in the World Bank’s Ease of Doing Business Index for 2019.

He said that people’s dreams and aspirations are changing now. “If there is a five-star railway station, people ask when do I get an airport. If there are mobiles in a place, they ask, what is the data speed,” he said.

The government, PM Modi said, is pledging Rs 100 lakh crore to develop infrastructure across the country. “We have to understand these changing demands and we will have to build a gas-based economy, a gas grid, with e-mobility for a better future,” he said.

He said that 130 crore people can help India to grow into a $5 trillion economy.

“Our country will have optical fibre networks, good road connectivity, distance study facilities to move ahead. Why can we not have a blue economy, and why should our farmers not export their produce,” said Modi.

He added predictable policies and stable politics will help in realising these dreams.

He also said that tourism needs to be developed.

“If tourism increases, jobs go up. We need to think about how can we make tourism better and find better tourism opportunities. Middle-class India needs launching pads, scientists should have the equipment, defence staff should have weapons made in India,” the Prime Minister said.