India aims to become a developed country within 25 years

Through various support measures aimed at the welfare of the state, India is striving to become a developed country within 25 years.

India will aim to become a developed country within 25 years. This was said on Monday by Prime Minister Narendra Modi in a speech on the occasion of the national day. He indicated that the country is pursuing a policy of supporting national production in the energy sector. As well as defense and digital technologies.

Modi emerged from the 17th century Red Fort in Delhi, where India is celebrating its 75th anniversary of independence from British colonial rule. He urged young people to “set big goals”. And also to give their best years for the good of the country.

“We have to make India a developed country in the next 25 years in our lifetime,” said Modi, 71.

“It’s a big resolution, and we have to work on it with all our might,” he added.

India is currently classified as a lower-middle-income economy by the World Bank. This applies to countries with gross national income per capita between $1,086 and $4,255. In high-end countries, the per capita income is $13,205 or more.

India is the world’s sixth largest economy and is expected to grow over 7% in the current fiscal year ending March 2023, the highest among major economies.

India can ‘disperse’ the economy

Experts believe that by 2050, India’s economy could become the third largest in the world. Just after the USA and China. Although per capita income, currently around $2,100, may still be low compared to many countries.

India is expected to overtake China in terms of population next year. Today, the country has about 1.4 billion inhabitants.

Countries like the United States already see India as a future rival to China’s dominant influence in Asia. On Sunday, US President Joe Biden congratulated India on its National Day.

The US leader said the United States and India were “irreplaceable partners”. According to him, countries will continue to work together to solve global problems in the years to come.

It should be noted that India’s neighbor Pakistan also celebrated its Independence Day on Sunday. The country was once part of British India and became independent at the same time.