'From Fragile 5 To World's Fastest-Growing Nation': PM Modi's I-Day Speech

Addressing the nation from the ramparts of the Red Fort on the 80th Independence Day, Prime Minister Narendra Modi today said India has transformed from being one of the "Fragile Five" economies to the world's fastest-growing major economy over the last 12 years.

PM Modi credited the determination of 140 crore Indians for the country's economic turnaround and widespread poverty reduction.

"The entire world dumped us in the category of 'Fragile Five'. However, India has, within just 12 years, emerged as the world's fastest-growing major economy," PM Modi said, adding the contributions of citizens across all demographics - youth, women, rural and urban residents, and marginalised communities.

"It is the outcome of these very efforts that in such a short span of time, 25 crore fellow citizens have defeated poverty and emerged out of it," he added.

'Fragile Five' was a term coined by Morgan Stanley in 2013 to describe five emerging-market economies that were considered especially vulnerable to external financial shocks, particularly a withdrawal of foreign investment and rising US interest rates. These were India, Brazil, Indonesia, South Africa and Turkey.

The prime minister highlighted specific sector-wise growth recorded during his 12-year tenure. Defence production has quadrupled and electronic manufacturing has expanded seven times, he said.

The production of modern railway coaches increased 21 times and digital transactions multiplied by 100 alongside a four-fold increase in the country's internet users.

Pointing at the future, PM Modi said India is positioning itself as a major player in the global semiconductor sector with production already going on at three semiconductor plants in the country, with five to eight additional facilities expected to begin operations.

He announced a major skilling initiative, saying one crore youth will be trained in artificial intelligence.

"When the world's most populous nation sets its sights on becoming a developed country, it sends a powerful message to the world and is reshaping how the world sees India," PM Modi said.

He said India is moving forward at unprecedented speed and no force can stop the resolve of its citizens, who would take the nation to achieving 'Viksit Bharat' by 2047, the year India would celebrate its 100th Independence Day.

He also pointed to governance reforms, stating that thousands of compliance requirements had been eliminated and hundreds of archaic laws repealed, simplifying the system and boosting ease of living and doing business. Self-reliance remained central to India's journey, the prime minister said. He called upon citizens to support Make in India, Swadeshi and Vocal for Local initiatives, asserting that true progress lies in strengthening domestic capabilities while engaging confidently with the world.