Confident Of Meeting $5-Trillion Target by 2024: PM Modi

The Indian economy is getting back on track faster than expected as a timely lockdown and various relief measures announced by the government helped address issues faced by all sections of society and all economic sectors due to the COVID-19 pandemic, Prime Minister Narendra Modi has said. He also expressed confidence that the target of making India a USD 5-trillion economy will be achieved by 2024, saying that the crisis gave the government an opportunity to carry out reforms that were waiting to happen for decades but no one earlier took the initiative. “Reforms across sectors such as coal, agriculture, labour, defence, civil aviation and so on have been undertaken which will help us get back on the high growth path that we were on before the crisis,” Modi said in a media interaction. He added, “We will take all measures needed to constantly stimulate the economy in a timely manner while ensuring overall macro-economic stability. India has not started speaking about manufacturing only after the pandemic and the work has been continuing on increasing manufacturing for some time now. India is, after all, a young country with a skilled workforce. But India doesn’t believe in gaining from the loss of others. India will become a global manufacturing hub on its own strengths. Our effort is not to become some country’s alternative, but to become a country which offers unique opportunities. We want to see the progress of all. If India progresses, one-sixth of humanity will progress. Referring to a new world order that was formed after World War II, the prime minister said something similar will happen post-COVID-19. “This time, India will ride the bus of manufacturing and integrating in global supply chains. We have specific advantages in the form of democracy, demography and demand,” he said.