PM Modi sets sight on $5 trillion economy club

Prime Minister Narendra Modi on Monday said that the Government of India will take every possible step to take 'India to the $5-trillion club.'

Speaking at the "Reflections on Ease of Doing Business" programme in the national capital, the Prime Minister said, "As per the analysis of Moody & World Economic Forum, the position of India has either gone up or is rising. We will take every possible step now to take India to the $5 trillion-club now. For that to happen, we have to improve all sectors of the economy. The change is already taking place."

Termed his government's effort as remarkable, the Prime Minister said that it has helped India massively in moving up the 'Ease of Doing Business' rank. It may be noted that India was ranked 77 out of 190 countries in 2018 in the ease of doing business index.

"In these last four years, there has been a 180-degree change in the country when it comes to the 'Ease of Doing Business'. We are now ranked 77 from 142 in 'Ease of Doing Business'. It is a record for any country to achieve such a ranking in such a short span of time. We are also ranked number one among South Asian countries. We have achieved what others can only think of. We are now a few steps away from entering the top 50-club," he added.

The Prime Minister also took a veiled dig at the Congress party saying it was impossible for them to believe that India could earn a place in the world's top 100 countries.

"Four years back, when I spoke about the possibility of India improving significantly in the days to come, many were laughing at us. There were many who sensed instability in our policies and they never thought India could ever find itself among the world's top 100 countries. But, now everyone can see this radical transformation that the country is going through," he added.