Rising India Summit 2023: Apna Time Aagaya says Rajnath Singh highlighting India's growth

Indian Economy has now has shifted from “Fragile 5 to Fabulous 5" in the world, Rajnath Singh said, adding that India has reached a position where it acts as an inspiration for the entire world after tackling massive challenges like Covid.

Rajnath Singh also discussed India's development in the manufacturing and digital sectors, claiming that the nation is currently one of the largest mobile device makers in the world and that it offers the most affordable mobile data service.

“We have 5G mobile connectivity. Now our Prime Minister is working on 6G services. India has the cheapest mobile data service," Rajnath Singh said, adding that today our country’s exports have also reached a record level.

“I had read somewhere that no power on earth can stop an idea whose time has come." I want to say with great confidence that in the coming times, our country India will not only emerge as one of the major economic powers of the world, but will emerge as the No.1 Economic power in the world," Rajnath Singh said at Rising India Summit 2023.

Regarding the digital economy, Rajnath Singh stated that 40 percent of real-time payments are made in India today, indicating that the sector is thriving.

“The government has done many things at the ground level to promote ease of doing business’ in the country. Most importantly, the government ensured the availability of capital for business in the country," he said.

Stressing on Make in India in the defence sector the minister said that, our nation's defence sector, which previously relied heavily on imports, is now securely standing on its own. We have implemented recent reforms in the military industry that were not even considered before.

“We have issued Positive Indigenization Lists for Services and Defense PSUs, in which production of included items will now be done in our own country in a systematic manner. So far 4 such lists have been issued by our forces." he added.

Rajnath Singh stated during the summit that domestic industry is also a major emphasis. He mentioned that only domestic businesses will now purchase ammunition for our armed forces. For this, the ministry has set aside a portion of the Capital Acquisition budget for local business. This portion has been raised to 75 percent for the fiscal year 2023–2024, or roughly one lakh crore rupees.

“We are not only producing for ourselves, but are also exporting weapons and equipment to other countries when needed. 7-8 years ago, this export, where the total deposit used to be not even thousand crore rupees, has now increased to more than 14-15 thousand crore rupees," the Defence Minister added.

(Picture Credit: News18 India)