India marching towards becoming world’s third biggest economy: Modi

Hyderabad: India is marching towards becoming the third biggest economy in the world according to experts, even when the world is going through a critical time, Prime Minister Narendra Modi said here on Saturday. Speaking after re-dedicating the Ramagundam Fertilizers and Chemicals Limited (RFCL) plant to the nation and launching various projects at Peddapalli, Modi […]

Hyderabad: India is marching towards becoming the third biggest economy in the world according to experts, even when the world is going through a critical time, Prime Minister Narendra Modi said here on Saturday.

Speaking after re-dedicating the Ramagundam Fertilizers and Chemicals Limited (RFCL) plant to the nation and launching various projects at Peddapalli, Modi said experts had said the growth witnessed by the country in the three decades after 1990, would be achieved in the next few years. This was due to the change in the way of governance, thought process and approach that has happened during the last eight years.

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“For the last two or three years, the world has been fighting the corona pandemic. On the other hand, there are frictions, military actions are taking place and the effects of those are also impacting the country and the world,” he said.

“But under these critical circumstances also, all in the world are hearing one more thing. Experts in the world say that India will soon become the third largest economy in the world and is marching forward very fast in that direction,” he said, adding that whether it was infrastructure, government processes, or ease of doing business, all the changes were inspiring the India’s ‘aspirational society’.

The Prime Minister, who also dedicated the Rs 1,000 crore Bhadrachalam Road- Sattupalli rail line, pointed out that the India of the 21st century could move forward by realizing ambitious targets, proof of which was the Rs 6,300 crore-worth revival of the RFCL.

RFCL would ensure adequate and timely supply of urea fertilizer to the farmers in Telangana, Andhra Pradesh, Karnataka, Chhattisgarh and Maharashtra, apart from boosting overall economic development in the region including development of infrastructure like roads, railways, ancillary industry etc. RFCL’s ‘Bharat Urea’ was expected to provide a tremendous boost to the economy by not only reducing imports but also by giving an impetus to local farmers through timely supply of fertilizers and extension services, he said.

“The Rs.10,000 crore worth of development projects inaugurated here today are going to give a boost to the agriculture and business climate of Telangana,” he said.

The Prime Minister also laid the foundation stone of various road projects worth over Rs.2200 crore, namely the Medak-Siddipet-Elkathurthy section of NH-765DG; Bodhan-Basar-Bhainsa section of NH-161BB and the Sironcha to Mahadevpur Section of NH-353C.