'At least one Indian bank should...': PM Modi's ambitious target for India Inc ft. Fortune 500

Independence Day 2026: Prime Minister Narendra Modi set ambitious targets to strengthen India's position globally. In his address to the nation from the ramparts of the Red Fort, PM Modi said that India should aim to have 50 companies among the Fortune 500 companies in the coming decade.

He added that at least one Indian bank should be among the world's top 5 banks and at least one Indian pharmaceutical company should feature among the world's 5 largest pharmaceutical companies.

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In his 13th consecutive Independence Day address, PM Modi said, "I want to awaken the nation, and I also want to awaken the strength of the nation. A nation is not just about the government... a nation is made up of every citizen. We often hear about the Fortune 500 companies. Why shouldn’t 50 of those Fortune 500 companies be from India in the coming decade? Why should this not be our goal? Today, our banking sector is flourishing. Why shouldn’t an Indian bank have its flag flying among the world’s top banks? At least one Indian bank should be among the world’s top five banks. We have made significant progress in the pharmaceutical sector as well. But the need of the hour is that, among the world’s five largest pharmaceutical companies, the name of at least one Indian pharmaceutical company should resonate. India must establish its place among them."

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Besides this, he also outlined Shakti ki Sapt Dhara, i.e., seven key focus areas for India's development going ahead. These included manufacturing, agriculture and food processing, technology and innovation, Gati-Shakti, Raksha Shakti, the green and blue economy, and soft power.

"Today, I would also like to recall that era when the nation knew, understood, and heard of India's prowess in the form of the 'Sapta Sindhu'. Now, to build a Viksit Bharat, we need a new current. Today, from the ramparts of the Red Fort, I invoke the 'Sapta Dhara' of strength before the nation. In the coming 5 to 7 years, what could not be achieved in the last 5 to 7 decades, through the prowess and power of this Sapta Dhara, we will give the nation new heights, new momentum, and the capability to surpass new goals. Alongside this, the power and potential of our youth will be fully harnessed and integrated into nation-building," said PM Modi.