'Made-in-India chip soon, racing to top 3 economy': PM Modi amid Trump tariff tensions
Modi said that in the past 11 years, India’s economy has moved from the 10th position to the top 5 globally, and is on track to reach the top three.
- Aug 11, 2025,
- Updated Aug 11, 2025 7:53 PM IST
Prime Minister Narendra Modi on Sunday said India is moving quickly towards becoming the third largest economy in the world. He said this progress has been made through the spirit of “reform, perform and transform.”
His remarks came days after US President Donald Trump called India a “dead economy.”
Modi said that in the past 11 years, India’s economy has moved from the 10th position to the top 5 globally, and is on track to reach the top three.
Speaking after laying the foundation stone for the Bangalore Metro Phase-3 project, flagging off three Vande Bharat Express trains, and inaugurating the Metro Rail Yellow line, he said such achievements strengthen the vision of Aatmanirbhar Bharat.
“We are moving fast to become one of the top three economies of the world. How we got this speed? We got it through the spirit of reform, perform and transform,” Modi said, adding that this speed came from clear intentions and honest efforts.
He noted India’s rise from the 10th to the 5th largest economy in 11 years, with major gains in infrastructure, exports, education, and health. Modi said metro rail has expanded from 5 cities in 2014 to over 1,000 km across 24 cities, making it the world’s third-largest network. Railway electrification has doubled to 40,000 km, the number of airports has grown from 74 to over 160, and national waterways from 3 to 30.
In health and education, AIIMS have increased from 7 to 22, medical colleges from 387 to 704 with over one lakh additional seats, while IITs have gone from 16 to 23, IIITs from 9 to 25, and IIMs from 13 to 21.
Modi highlighted that India’s total exports have grown from USD 468 billion in 2014 to USD 824 billion today. “We used to import mobile phones but now we are the top five exporters of mobile handsets. Our electronic export before 2014 was USD 6 billion which has gone up to USD 38 billion dollars,” he pointed out. He also emphasised that automobile exports have doubled from USD 16 billion, placing India as the fourth largest automobile exporter.
“These achievements give strength to our concept of Atmanirbhar Bharat (self-reliant India). We will march together, and build a developed India,” he added.
He said the next goal should be self-reliance in technology and urged that products should follow the “Zero Defect, Zero Effect” principle perfect quality with no harm to the environment and expressed confidence in Karnataka’s role in this vision.
The journey towards Vikasit Bharat will progress alongside Digital India. “By way of initiatives like the India AI Mission, India is advancing towards global AI leadership,” Modi said. He noted that the semiconductor mission is “gaining pace” and that “India will soon get Made in India chip.”
On space achievements, Modi said India has become an example of “low-cost hi-tech space missions,” reflecting its advance in futuristic technologies.
He emphasised that the real strength of such progress lies in “empowerment of poor” and highlighted that digitisation has reached “every village.” Through UPI, he pointed out, India accounts for “over 50 per cent of the world’s real-time transactions.”
Prime Minister Narendra Modi on Sunday said India is moving quickly towards becoming the third largest economy in the world. He said this progress has been made through the spirit of “reform, perform and transform.”
His remarks came days after US President Donald Trump called India a “dead economy.”
Modi said that in the past 11 years, India’s economy has moved from the 10th position to the top 5 globally, and is on track to reach the top three.
Speaking after laying the foundation stone for the Bangalore Metro Phase-3 project, flagging off three Vande Bharat Express trains, and inaugurating the Metro Rail Yellow line, he said such achievements strengthen the vision of Aatmanirbhar Bharat.
“We are moving fast to become one of the top three economies of the world. How we got this speed? We got it through the spirit of reform, perform and transform,” Modi said, adding that this speed came from clear intentions and honest efforts.
He noted India’s rise from the 10th to the 5th largest economy in 11 years, with major gains in infrastructure, exports, education, and health. Modi said metro rail has expanded from 5 cities in 2014 to over 1,000 km across 24 cities, making it the world’s third-largest network. Railway electrification has doubled to 40,000 km, the number of airports has grown from 74 to over 160, and national waterways from 3 to 30.
In health and education, AIIMS have increased from 7 to 22, medical colleges from 387 to 704 with over one lakh additional seats, while IITs have gone from 16 to 23, IIITs from 9 to 25, and IIMs from 13 to 21.
Modi highlighted that India’s total exports have grown from USD 468 billion in 2014 to USD 824 billion today. “We used to import mobile phones but now we are the top five exporters of mobile handsets. Our electronic export before 2014 was USD 6 billion which has gone up to USD 38 billion dollars,” he pointed out. He also emphasised that automobile exports have doubled from USD 16 billion, placing India as the fourth largest automobile exporter.
“These achievements give strength to our concept of Atmanirbhar Bharat (self-reliant India). We will march together, and build a developed India,” he added.
He said the next goal should be self-reliance in technology and urged that products should follow the “Zero Defect, Zero Effect” principle perfect quality with no harm to the environment and expressed confidence in Karnataka’s role in this vision.
The journey towards Vikasit Bharat will progress alongside Digital India. “By way of initiatives like the India AI Mission, India is advancing towards global AI leadership,” Modi said. He noted that the semiconductor mission is “gaining pace” and that “India will soon get Made in India chip.”
On space achievements, Modi said India has become an example of “low-cost hi-tech space missions,” reflecting its advance in futuristic technologies.
He emphasised that the real strength of such progress lies in “empowerment of poor” and highlighted that digitisation has reached “every village.” Through UPI, he pointed out, India accounts for “over 50 per cent of the world’s real-time transactions.”