India is a resurgent power regaining its place on global economic map under PM Modi’s leadership: Defence Minister Rajnath Singh
Defence Minister Rajnath Singh said that the phrase ‘emerging power’ can be used for India in the immediate perspective, but for the long term India is a resurgent power which is regaining its place on the global economic map under the leadership of Prime Minister Narendra Modi. Speaking at an event in New Delhi on Friday, the Defence Minister informed that the government is working to build a developed India by 2047, focusing on almost all sectors of the country.
Citing a report by Morgan Stanley, the Defence Minister said that after naming India among the ‘Fragile 5’ economies in 2013, the investment firm recently stated that the country will be the third largest economy by 2027. He termed it as a testament to the growth of the Indian economy in recent years.
He began his address by stating that until the 17th century, India had a remarkably strong economy, constituting over a quarter of the world’s GDP, but it lost its glory due to a weak military and political slavery. He asserted that the government is working to ensure that India regains its old glorious status.
India vs Australia 3rd ODI Free Live Streaming: When and How to watch IND VS AUS match live on Web, tv, mobile apps online
Flipkart Big Billion Days Sale 2023: Check heavy discounts on Xiaomi, Samsung, Motorola, Vivo and more phones
Ganesh Visarjan (Anant Chaturthi): Mumbai Police issues traffic advisory; Western and Central Railway to run special trains
Prataap Snacks shares slip 4% after GST department searches company's manufacturing unit in Bengaluru
The Defence Minister stated that no stone is being left unturned to create a strong, young and tech-savvy armed force on the back of robust defence industry which indigenously manufactures state-of-the-art weapons and equipment, while efforts are also being made to get rid of the colonial mindset. "A strong military not only secures the borders, but also protects the culture and economy of a country. The goal is to build a strong, self-reliant and prosperous nation, which caters to its own needs as well as the requirements of friendly countries," he said.
"This is an era of renaissance. It is time to re-establish India as a global superpower," he added.
Singh said that he envisioned a developed India that ensures that universal values like democracy, religious freedom, dignity and world peace are established across the globe. And quoted a famous line from the Hollywood film 'Spiderman' — "With great power comes great responsibility" — to emphasise that India's responsibility will increase in sync with its rising global stature.
"Together, let us dream of an India where people have the same feeling of nation building; where all Indians work together without any discrimination," he said, underlining the need for building a welfare state with high standard of living, social harmony and equal participation of women in the development process.
"Let us dream of an India where people are judged not by their caste and religion, but by their knowledge and character; where every Indian has access to human rights and has commitment towards their duties. Let us dream of an India which is strong enough to defend itself and be ready to stand against any injustice anywhere in the world," he added.
Shedding light on the transformative changes brought about in the defence sector in the last few years, the Defence Minister stated that a number of steps have been taken to achieve complete ‘Aatmanirbharta’ in manufacturing of weapons and technologies. The major decisions include notification of four positive indigenisation lists of 411 items on behalf of the Armed Forces and four other lists of 4,666 items for DPSUs, besides setting up of Defence Industrial Corridors in Uttar Pradesh and Tamil Nadu.
Highlighting the positive results achieved due to the Government’s efforts, he stated that a record over Rs one lakh crore defence production and all-time high defence exports of almost Rs 16,000 crore in Financial Year 2022-23 are proof of the massive growth of the defence sector. He added that the start-up friendly ecosystem created by the Government has led to the creation of over 100 unicorns in the country, with the defence R&D and manufacturing sector witnessing a significant increase in the number of start-ups.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
Traders' Diary: Buy, sell or hold strategy on Nykaa, SBI Life, Wipro, DMart, Bata, over a dozen other stocks today
India's 'activist' central bank to temper rupee, bond gains post index inclusion: JPMorgan's Jahangir Aziz
India Vs Australia LIVE Score, 3rd ODI Match Updates, IND VS AUS live Scorecard: Rohit Sharma's men eye clean sweep against struggling Aussies at Rajkot