Prime Minister Narendra Modi voiced optimism on Friday, asserting that India is poised to secure the position of the world’s third-largest economy during the BJP government’s third consecutive term at the Centre.
Speaking at the Bharat Mobility Global Expo held at Bharat Mandapam in the national capital, the Prime Minister highlighted the significant strides made in poverty alleviation over the past decade, with around 25 crore people lifted out of poverty through government initiatives. He emphasized that the nation’s current trajectory aligns with the goal of achieving ‘developed’ status by 2047, with the mobility sector playing a pivotal role in this endeavor.
“This is the opportune moment, perfectly aligned with the mobility sector’s growth. India is advancing rapidly, marked by achievements such as reaching the moon. Today, our economy is expanding at a remarkable pace,” PM Modi affirmed.
Acknowledging the rise of a ‘new middle class’ with distinct aspirations, the Prime Minister emphasized the expansion of income and thresholds within this demographic, anticipating a significant impact on the mobility sector. He noted a substantial increase in car sales since 2014, with over 21 crore cars sold compared to 12 crore before that period.
“There has been an unprecedented transformation in the mobility sector. India is now propelled by forward-looking policies tailored to future scenarios, as reflected in the interim budget. A comprehensive budget will follow after the formation of a new government,” PM Modi explained.
The Bharat Mobility Global Expo 2024 serves as a showcase for India’s capabilities in the mobility and automotive domains. The Expo encompasses exhibitions, conferences, buyer-seller meets, state sessions, a road safety pavilion, and public-centric attractions such as go-karting.