India is taking its place on global economic map due to Modi: Rajnath Singh

Addressing an event in Delhi, Union Defence Minister Rajnath Singh said that  India is not an emerging but a resurgent power, which is regaining its place on the global economic map under the leadership of Prime Minister Narendra Modi.

He said that until the 17th century, India had a strong economy, constituting over a quarter of the world’s gross domestic product (GDP), but it lost its glory due to a weak military and political slavery.

Rajnath Singh stated that efforts were being made to create a strong, and tech-savvy armed forces on the back of a robust defence industry.

“A strong military not only secures the borders, but also protects the culture and economy of a country. The goal is to build a strong, self-reliant and prosperous nation, which caters to its own needs as well as the requirements of friendly countries. It is time to re-establish India as a global superpower,” the defence minister said.

He stated that investment firm Morgan Stanley recently said that India will be the third-largest economy by 2027. He called it as a testament to the growth of the Indian economy in recent years.

The defence minister said that a number of reforms, including direct tax reform and Good and Services tax (GST), were undertaken by the government to ease the economic growth of the country.

He added that steps are being taken to achieve ‘Aatmanirbharta’ in making weapons. "Over Rs one trillion defence production and defence exports of almost Rs 16,000 crore in FY23 are proof of the massive growth of this sector", Rajnath SIngh said, adding that the defence R&D and manufacturing sector has witnessed a significant increase in the number of start-ups.

"The government is focusing on all sectors, including health, education, and border development to realise Narendra Modi's vision", he added.

He added that focus must be on maintaining the standard of life of those who are unable to fulfill their dreams due to physical/mental illness or family reasons.

“Together, let us dream of an India where people have the same feeling of nation building; where all Indians work together without any discrimination. Let us dream of an India which is strong enough to defend itself and be ready to stand against any injustice anywhere in the world,” he said.