PM Modi Highlights India’s Economic Rise Since 2014

By A Staff Reporter

New Delhi: Prime Minister Narendra Modi on Sunday highlighted India’s economic progress over the past decade, saying the country has come a long way since being part of the so-called “Fragile Five” economies before 2014. Speaking at a public event, the Prime Minister pointed to key economic milestones achieved during his tenure and projected continued growth ahead.

“When you all gave us the responsibility in 2014, the country was going through the stage of the ‘Fragile Five’. Before 2014, we were at number ten in the global economy,” Modi stated. “Today, India is moving ahead at a fast pace towards becoming the third-largest economy of the world.”

The term “Fragile Five” was coined by financial analysts in 2013 to refer to five emerging market economies—India among them—that were considered vulnerable due to high current account deficits and reliance on foreign investment. Modi credited stable governance, reforms, and infrastructure development for India’s turnaround.