PM Modi sees India as US $10-trillion economy with countless startups

File photo of Prime Minister Narendra Modi. Photograph:( ANI )

PTI New Delhi, Delhi, India Feb 23, 2019, 12.20 PM (IST)

Prime Minister Narendra Modi Saturday laid out his vision for making India a US $10-trillion economy, and the third-largest in the world, saying he wants the nation to have countless startups, and be a global leader in electric vehicles.

Speaking at the Global Business Summit in New Delhi, he said his government inherited an economy in complete policy paralysis, plagued by runaway inflation and rising current account deficit.

Reforms in the last four and half years have changed the picture. "Change is clearly visible today," he said.

BJP-led NDA rule witnessed highest post-liberalisation growth rate of 7.4 per cent, and lowest inflation of less than 4.5 per cent, he said adding that reforms like goods and services tax (GST) have laid solid foundation for higher gross domestic product (GDP) growth.

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Speaking at the Global Business Summit in New Delhi, he said his government inherited an economy in complete policy paralysis, plagued by runaway inflation and rising current account deficit.