‘Day not far when India will be $5 trillion economy’: PM Modi
New Delhi: Prime Minister Narendra Modi on Wednesday said that the day is not far when India will turn a USD 5 trillion economy as he urged all stakeholders to invest in people, economy, and innovation to create jobs and boost growth.
Speaking in a post-Budget webinar on employment, Modi said the government has provided skill training to 3 crore youth since 2014 and decided to upgrade 1,000 ITIs and set up five centres of excellence.
Referring to an IMF report of February 2025, Modi noted that between 2015 and 2025, India grew by 66 per cent, making the country a USD 3.8 trillion economy.
Observing that the country’s growth surpassed that of several major economies, he said “the day is not far when India will become a USD 5 trillion economy.”
He also stressed the importance of making right investments in the right direction to continue expanding the economy.
Modi underlined the critical role of implementing budget announcements in achieving this vision and acknowledged the significant contributions of all stakeholders.
He stated that capacity building and talent nurturing act as the foundation stone for national development and in the next phase of growth, greater investment in these sectors is essential.
“The vision of ‘investment in people’ stands on three pillars -- education, healthcare, and skill development,” he said adding that today, India’s education system is undergoing a transformation.
He said this year’s Budget serves as a blueprint for India’s future, and that investments have been prioritized equally across infrastructure, industries, people, economy, and innovation.
Modi highlighted the PM Internship Scheme that was launched to provide new opportunities and practical skills to youth.
“We must ensure that businesses at every scale actively participate in this scheme. In this year’s Budget, we announced 10,000 additional medical seats, with a target of adding 75,000 seats in the medical field over the next 5 years.”
Modi also talked about the government’s decision to give infrastructure status to the tourism sector, saying that it will generate jobs for youth.
He urged industry to invest in the healthcare sector and also talked about the potential of medical tourism to create jobs. Modi also emphasised the establishment of daycare cancer centres and the development of digital healthcare infrastructure to ensure quality healthcare reaches the last mile.
Modi stated that tourism could contribute up to 10 per cent of India’s GDP and create jobs. He announced plans to develop 50 destinations, expand Mudra Yojana for homestays, boost AI and startups, digitise manuscripts, and establish a National Gene Bank for food security.
