India on way to becoming 5th largest economy in world: PM Modi

Prime Minister Narendra Modi on Friday said India is on the way to becoming the fifth largest economy in the world.

 

He was speaking at the India-South Africa Business Summit in New Delhi.

 

"India is the world's fastest-growing major economy and the government is committed to reforms that will further propel it," he said today.

 

At USD 2.6 trillion, the Indian economy is currently ranked sixth in the world behind the US, China, Japan, Germany and the UK.

 

Modi listed out government's initiatives including the push for boosting domestic manufacturing through Make in India and digitising the economy through Digital India.