New Delhi, Aug 14 (Agency) Noting that India has been among the fastest growing major economies with average annual growth rate of 8% annually from 2021 to 2024, President Droupadi Murmu on Wednesday said that the Indian economy is poised to become one of the top three economies in the world soon. In her address to the nation on the eve of 78th Independence Day, the President said that the high economic growth has not only put more money in the hands of people but it has also drastically reduced the number of people living below the poverty line. “It is a matter of pride for all that India has become the fifth largest economy in the world, and we are also poised to become one of the top three economies soon. This has been made possible only by tireless hard work of farmers and workers, by the farsightedness of planners and wealth-creators, and by the visionary leadership,” Murmu said.
She noted that infrastructure has received a boost in recent years and the network of highways, railways and ports expanded. The President further said that the government has vigorously promoted a range of sectors such as semiconductors and Artificial Intelligence (AI) while also creating an ideal ecosystem for startups which will propel their growth. “It has made India an even more attractive investment destination. With greater transparency, the banking and financial sector has become much more efficient. All of these factors have set the stage for the next generation of economic reforms and economic growth that will catapult India among the developed nations,” she said.