India to soon be among world’s top three economies: PM Modi

New Delhi Prime Minister Narendra Modi on Monday said the Indian economy was on the path of rapid growth which had led to creation of big opportunities for employment of the youth. Addressing a Rozgar Mela where he distributed over 51,000 appointment letters to the youth, he said automobile, pharma, tourism and food processing sectors were expected to grow at a rapid pace and open up employment opportunities for the youth.

Modi addressed the Rozgar Mela virtually as the new appointees in central paramilitary forces, Narcotics Control Bureau and the Delhi Police joined in from 45 locations across the country. The prime minister said India had emerged as the fastest growing economy and would soon be among the top three economies in the world during this decade and bring benefits to the common man.

“For any economy to grow, it is imperative that every sector develops. From the food sector to pharmaceuticals, from space to start-ups, when every sector grows the economy will move ahead,” he said. He said the tourism sector alone was expected to contribute Rs 20 lakh crore to the economy by 2030 and had the potential to create 13-14 crore new jobs. Citing the example of the pharmaceutical industry, the prime minister said the sector worth Rs four lakh crore at present is expected to grow to Rs 10 lakh crore by 2030. “What does it mean? It means that in this decade the pharma industry will need a lot of youth. There will be opportunities for employment,” Modi said.

He said the automobile and the auto component sector too was on the growth path and will require youth power to propel it. The food processing industry, which was worth approximately Rs 26 lakh crore last year, was bound to rise to Rs 35 lakh crore in the next three-and-a-half years. “With expansion comes increased employment opportunities,” he added.

Citing the example of Uttar Pradesh, he said good governance in the state has led to establishment of the rule of law, which has in turn brought in a lot of investments. “In an atmosphere of security, the establishment of the rule of the law speeds up development, instills confidence in the people and brings in investments,” he said.

However, the states with rising crime rates witnessed fewer investments and shrinking of employment opportunities, Modi said. “A new era of transformation can be witnessed owing to the efforts of the government in the last nine years,” the prime minister said.

He said India clocking record exports last year was a sign of the increased demand for Indian made goods in the global market. Modi noted that production has gone up, employment has increased and the income of the family has seen a rise. India, he said, has become the second largest mobile manufacturing nation in the world and the country was now focusing on other electronic gadgets. “India will replicate the success of the mobile manufacturing sector in the IT and hardware manufacturing sector. The day is not far when Made in India laptops and personal computers will make us proud,” the prime minister said.

He said the government was laying emphasis on procuring Indian made laptops and computers, and as a result, production of the gadgets has increased. The new recruits, who were handed over letters of appointment on Monday, will be joining in various positions such as constable (general duty), sub-inspector (general duty) and non–general duty cadre posts in various organisations under the Ministry of Home Affairs. The prime minister referred to the new recruits as ‘Amrit Rakshak’, who will not only serve the country but will also protect it.