PM Modi Highlights India’s Rise, Economic Growth and Push Towards Viksit Bharat 2047

Prime Minister Narendra Modi on Saturday said India has transformed from being counted among the world’s ‘Fragile Five’ economies to emerging as the world’s fastest-growing major economy over the past 12 years.

Addressing the nation from the ramparts of the historic Red Fort on the occasion of India’s 80th Independence Day, Modi said the country had once been placed among the ‘Fragile Five’ but has since made significant economic and developmental progress.

The Prime Minister said India is now moving forward with “unprecedented speed and confidence”, backed by the strength and resolve of 140 crore Indians. He outlined the vision of building a Viksit Bharat by 2047, saying the ambition of the world’s most populous nation to become a developed country is reshaping how the world views India.

Highlighting achievements during his government’s tenure, Modi said defence production has increased fourfold, electronic manufacturing sevenfold, modern railway coach production 21-fold, internet users fourfold and digital transactions 100-fold.

Modi also highlighted India’s growing semiconductor ecosystem. He said the country has begun production at three semiconductor plants, with another five to eight plants expected to come up in the coming years. Government-backed semiconductor initiatives have been aimed at building a domestic chip manufacturing and design ecosystem.

The Prime Minister further announced an ambitious youth-skilling initiative, saying one crore young Indians will be trained in skills related to artificial intelligence (AI). The move is aimed at preparing India’s workforce for emerging technologies and the rapidly evolving digital economy.

India’s economic growth has remained strong, with the Economic Survey 2025-26 projecting real GDP growth of 7.4% for FY26, underscoring the country’s continued high-growth trajectory.