India among top-3 economies will mean jobs, higher incomes: PM Modi

The Prime Minister also said India is currently the fastest growing economy in the world.


The Prime Minister also said India is currently the fastest growing economy in the world. PHOTO: THE STATESMAN

August 29, 2023

NEW DELHIPrime Minister Narendra Modi on Monday said India will be among the top three

economies of the world during the current decade itself, and this will expand its every sector several times and create unlimited employment opportunities for youth.

He was speaking after distributing more than 51,000 appointment letters to newly inducted recruits at a Rozgar Mela, via video conferencing. The Rozgar Mela was held at 45 locations across the country.

The newly appointed recruits joined various police forces under the Ministry of Home Affairs (MHA, like the Central Reserve Police Force (CRPF), Border Security Force (BSF), Sashastra Seema Bal (SSB), Assam Rifles, Central Industrial Security Force (CISF), Indo-Tibetan Border Police (ITBP), Narcotics Control Bureau (NCB), and Delhi Police.

The Prime Minister said India is currently the fastest growing economy in the world. People must be wondering how this will benefit the common man. It should be known the growth of the economy at a fast pace has brought unexpected transformation in various sectors of the economy, he said.

The pharma industry had played an important role during the pandemic, he said. Today, it is worth about Rs 4 lakh crore and it is estimated that by 2030, the industry will be worth approximately Rs 10 lakh crore. This growth means the industry will need more youth in the coming years, creating opportunities for employment.

The Prime Minister said the automobile and the auto components industries have been expanding. They are worth more than Rs 12 lakh crore now and they are expected to grow further in the years to come. Many more youth will be required by the automobile industry to maintain the growth rate, thereby creating employment opportunities in the nation.

The food processing industry was worth about Rs 26 lakh crore last year and is bound to rise to Rs 35 lakh crore in the next three and a half years. “With expansion comes increased employment opportunities,” he said.

Referring to infrastructure development, he said in the last nine years the central government has spent more than Rs 30 lakh crore on infrastructure. This is giving a push to connectivity as well as tourism and hospitality, creating new jobs.

By 2030 the tourism sector will contribute more than Rs 20 lakh crore to the economy creating an estimated 13-14 crore jobs. The figures of expected employment and sector growth are not just numbers, Mr Modi said. These developments will impact the lives of common citizens by creating jobs, ease of living and increasing incomes, the Prime Minister said.

“A new era of transformation can be witnessed owing to the efforts of the government in the last nine years,” he said. India made record exports last year. It is a sign of increased demand for Indian made goods in the global market. As a result, he said, production has gone up, employment has increased and thereby the income of the family has seen a rise.

He said that India has become the second largest mobile manufacturing nation in the world and the demand for mobile phones in India has also shot up. He said the Government’s efforts were behind the manifold increase in mobile manufacturing. The country is now focusing on other electronic gadgets.

India is likely to replicate the success of the mobile manufacturing sector in the IT and hardware manufacturing sectors. “The day is not far when Made in India laptops and personal computers will make us proud,” the Prime Minister said.

Referring to the Vocal for Local campaign, the Prime Minister said that the government is giving emphasis to procuring Indian-made laptops and computers, and as a result, production and employment has gone up.

He recalled the Pradhan Mantri Jan Dhan Yojna was launched on this day nine years ago, and played a big role in creating employment along with economic empowerment of the villages. Under the scheme, more than 50 crore bank accounts have been opened and it helped in taking welfare benefits to the poor and deprived directly.

Mr Modi said the new recruits joining the armed police forces have the responsibility to provide a secure environment for the economic development taking place in the nation.

Giving the example of Uttar Pradesh, the Prime Minister mentioned that the state once lagged behind in development and was also one of the leading states in terms of crime. With the introduction of the rule of law, the state is now able to scale new heights of development and is now a society free from fear.

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