India-Cyprus CEO forum: India is 5th largest economy with digital revolution, manufacturing mission, says PM Modi

While addressing the India-Cyprus CEO Forum, Prime Minister Narendra Modi on Sunday (local time) highlighted India’s economic strength, development and potential, stating India has become the fifth-largest economy worldwide and is swiftly moving towards becoming the third-largest economy soon. It has undergone a remarkable digital revolution, with the Unified Payments Interface (UPI) accounting for 50% of all digital transactions globally, he stated.

"In the last one decade, India has become the fifth largest economy of the world and in the very near future, we are moving very fast towards becoming the third largest economy of the world. Today, India is one of the fastest-growing emerging economies in the world... Today, India has a clear policy..." PM Modi said.

“It has happened after 6 decades that the same government has been elected for the third consecutive time. There has been a digital revolution in the last 10 years. Financial inclusion has become an example of this. Today, 50 per cent of the world's digital transactions take place in India through Unified Payments Interface i.e. UPI," he added.

(More to come)