India 4th largest economy is testament to PM Modi's visionary governance: CAIT

New Delhi, May 25 (IANS) India's rise as the fourth-largest economy in the world is a direct result of the visionary leadership and strong governance of Prime Minister Narendra Modi, said the Confederation of All India Traders (CAIT) on Sunday.

Calling it a proud moment for every Indian, Praveen Khandelwal, MP from Delhi's Chandni Chowk and Secretary General of CAIT, said this achievement reflects the success of PM Modi’s economic reforms, digital transformation initiatives, and inclusive development policies.

“India’s economic rise is a story of reform, resilience, and resurgence,” he said, adding that people-centric governance, fiscal prudence, and pro-business strategies have turned India into the growth engine of the world.

Khandelwal highlighted that major initiatives like Make in India, Digital India, Startup India, Gati Shakti, and the Production-Linked Incentive (PLI) schemes have played a key role in boosting infrastructure, attracting record foreign investments, and strengthening key sectors of the economy.

He also said that this milestone will create bigger opportunities for small businesses to scale up and adopt digital technologies faster.

“India’s improved global stature will also enhance investor confidence, resulting in increased FDI, capital inflows, and deeper integration with global value chains,” Khandelwal mentioned.

According to Khandelwal, India’s growing economy will help generate more jobs and support youth entrepreneurship.

“It will also allow the government to invest more in modern infrastructure, smart cities, rural development, education, healthcare, and welfare schemes,” he stated.

He added that India’s continued progress in digital innovation, fintech, AI, space research, and green technology will further accelerate its global leadership in the years to come.

“This is a proud moment for every Indian. As India continues to rise, it stands as a symbol of opportunity, stability, and progress in an uncertain global world,” Khandelwal said.

Earlier in the day, NITI Aayog Chief Executive Officer (CEO) B.V.R. Subrahmanyam said that India has surpassed Japan to become the world's fourth-largest economy and is now poised to displace Germany from the third rank in the next 2.5 to 3 years.

--IANS

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