NEW DELHI: Leading businessmen on Monday hailed India's growth trajectory under the "decisive leadership" of Prime Minister Narendra Modi, emphasising that this is truly India's century.
Speaking to IANS on the sidelines of the NDTV World Summit, Baba Kalyani, Chairman and Managing Director of Bharat Forge, and Sudhakar Adapa, Founder & CEO of Bia Brands, highlighted India's progress towards becoming the third-largest economy in the world, driven by PM Modi's vision and policies.
Kalyani highlighted India's remarkable GDP growth, stating, "This is India's century. Our country's GDP has grown by eight times, as has our manufacturing. India's economy is currently around $3.8 to $3.9 trillion, and by 2047, it will exceed $30 trillion. Manufacturing will see a 12-fold increase, representing exponential growth across all sectors."
He also underscored the importance of innovation for sustaining this growth.
"For this growth to continue, we must innovate in technology. We can't rely on others' technologies anymore; we need to develop our own. We're already doing this in Defence, creating indigenous artillery technology, " Kalyani added.
Sudhakar Adapa praised PM Modi's "decisive leadership" for elevating India on the global stage.
"The Prime Minister has laid out a clear vision to position India globally, advancing bilateral trade and making India easier for business. His focus on boosting the stock markets and attracting significant Foreign Direct Investments is already yielding results, " he said.
Adapa highlighted the Prime Minister's achievements in the first 125 days of his third term, observing that India's economic outlook is "very bullish."
"We are in safe hands with PM Modi's leadership. His commitment is unwavering, and even after a decade of accomplishments, he hasn't slowed down, " he said.
He further underlined that India's demographic advantage, with the largest working-age population, gives the country a unique edge.
"India has always had potential, but now we have all the building blocks to realise it. We are the fifth-largest economy and are set to become the third-largest within a few years, powered by our demographic strength, " he said.
Lauding the digital revolution in India, which has transformed the economy, Adapa said, "The penetration of digital platforms for payments and communication is incredible. From street vendors to high-net-worth individuals, digital literacy has reshaped the landscape, thanks to the government's efforts to promote inclusive growth."
He concluded by highlighting the growing global respect for India and its entrepreneurs. "We are no longer considered secondary citizens. When I say I'm from India on the world stage, there is immense respect. India has arrived, and Indian entrepreneurs have arrived. It's our time now, " he said.