India Set To Emerge As World's Third-Largest Economy By 2029: Sonowal

He said over 25 crore people have come out of poverty in the last 10 years, a number bigger than the population of many European countries

Sonowal also highlighted India’s booming startup ecosystem, which has grown from 30,000 startups in 2014 to over 1 lakh today

Source : ABPLIVE AI

Union Minister of Ports, Shipping and Waterways, Sarbananda Sonowal, said on Saturday that India is firmly on course to become the world’s third-largest economy by 2029.

He credited Prime Minister Narendra Modi’s 'decisive and corruption-free' governance over the last 11 years for this rapid progress and said the country is experiencing an 'unstoppable surge' in development.

Addressing a press conference in Dibrugarh to mark the NDA government’s 11th anniversary, Sonowal said that India has moved past an era of 'policy paralysis and dynastic misrule' and is now being powered by welfare-led development, innovation by the youth, and record-breaking infrastructure expansion.

He said over 25 crore people have come out of poverty in the last 10 years, a number bigger than the population of many European countries.

“This is the Modi guarantee -- delivery with speed, scale and honesty,” Sonowal said.

The Union minister added that India’s journey to becoming the fourth-largest global economy is just the beginning.

By 2029, he said, India will rise to the third spot. “We are building a strong foundation for a Viksit Bharat — a developed, self-reliant India,” he said.

Sonowal also highlighted India’s booming startup ecosystem, which has grown from 30,000 startups in 2014 to over 1 lakh today.

“Over 1.7 crore youth are now part of this vibrant startup movement. This is the new India — full of young dreamers and doers,” he said.

Talking about the development of the Northeast, Sonowal said it has been transformed under the Modi government.

“Prime Minister Modi has visited the Northeast more than 70 times — more than any other PM in history. He turned a neglected region into a growth engine,” he said.

According to Sonowal, the recent 'Rising Northeast' summit brought in investment promises worth over Rs 4.5 lakh crore.

He said major infrastructure projects are ongoing, including roads, railways, internet connectivity and modern river ports at Jogighopa, Dhubri, Pandu and Dibrugarh that will connect Assam with global trade routes.

(This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)