India emerging as new factory of world; land of infinite innovations: PM Modi

New Delhi, March 1: India is emerging as the new factory of the world and as a land of infinite innovations, said Prime Minister Narendra Modi on Saturday.

Speaking at a media event, the Prime Minister noted that the “world is keenly watching 21st-century India” to learn and understand how the country is able to manufacture from semiconductors to aircraft carriers.

From long being known as the back office, “India is now becoming the new factory of the world”, the PM said, adding that the country “is not just a workforce but a world-force".

He highlighted that the country, which once imported many products, is now "emerging as a major export hub" -- from turmeric to coffee, to millets and makhana (fox nuts).

India's mobile phones, Defence, and electronic products, and medicines are also gaining global recognition, he said.

PM Modi noted that farmers, who were once limited to local markets, are now reaching global markets with their produce. He said this citing the increasing global demand for Pulwama's snow peas, Maharashtra's Purandar figs, and Kashmir's cricket bats.

"India's Defence products showcase the strength of Indian engineering and technology to the world," the PM said.

“From electronics to the automobile sector, the world has witnessed India's scale and capability.

“India is not only providing products to the world but is also becoming a trusted and reliable partner in the global supply chain,” he said.

PM Modi further mentioned that due to “years of hard work and systematic policy decisions” India is now leading several global initiatives.

This includes the recent AI Action Summit in France, where India was the co-host and will now take on the responsibility of hosting it; the successful G-20 summit during its presidency, where the India-Middle East-Europe Corridor was introduced as a new economic route.

The PM mentioned that India has given a “strong voice to the Global South and prioritised the interests of island nations”.

The country has also undertaken initiatives to address the global climate crisis, with the Mission LiFE vision; the International Solar Alliance, and the Coalition for Disaster Resilient Infrastructure.

“The land that gave the world the concept of zero, is now becoming the land of infinite innovations,” said the Prime Minister, while highlighting how India is creating solutions that are affordable, accessible, and adaptable.

This includes a secure and cost-effective digital payment system via the UPI (Unified Payments Interface) system, and vaccines during the deadly Covid-19 pandemic.

He also highlighted India’s prowess in sectors like automobile, space and emerging technologies such as AI.

“India is moving forward with the resolve to become a developed nation in the next 25 years,” said PM Modi.