Despite Global Challenges, India Fastest-Growing Major Economy Today: PM Modi

Speaking virtually at the Summit for Democracy, 2023, PM Modi also asserted that democracy was not just a structure but also a spirit.

A file photo of PM Modi. The PM was speaking at Summit for Democracy, 2023

Source : PTI

Prime Minister Narendra Modi on Wednesday said despite global challenges, India was the fastest-growing major economy today. Speaking virtually at the Summit for Democracy, 2023, PM Modi also asserted that democracy was not just a structure but also a spirit.

"India, despite the many global challenges, is the fastest-growing major economy today. This itself is the best advertisement for democracy in the world. This itself says that democracy can deliver," PM Modi said.

The Prime Minister said India's guiding philosophy was 'Sabka Saath, Sabka Vikas', meaning "stiving together for inclusive growth".

"India is indeed the 'Mother of Democracy'. Democracy is not just a structure. It is also spirit. It is based on the belief that the needs and aspirations of every human being are equally important," PM Modi said.

"Whether it is our effort to fight climate change through lifestyle changes, to conserve water through distributed storage or provide clean, cooking fuel to everyone - every initiative is powered by the collective efforts of the citizens of India," he further said.

PM Modi also said the idea of elected leaders was a common feature in ancient India long before the rest of the world.

"Our epic Mahabharata describes the first duty of citizens as choosing their own leader. Our sacred vedas speak of political power being exercised by broad-based consultative bodies. There are also many historical evidences of republic states in ancient India where rulers were not hereditary," Modi said.

Speaking on the "Vaccine Maitri" initiative, PM Modi said the government shared millions of vaccines with the world during the Covid-19 pandemic. "This was also guided by the spirits of 'Vasudhaiva Kutumbakam', that is One Earth, One Family, One Future," he said.

The second 'Summit for Democracy' was co-hosted by US President Joe Biden, Costa Rica President Rodrigo Chaves Robles, Zambia President Hakainde Hichilema, the Netherlands Prime Minister Mark Rutte and South Korea President Yoon Suk Yeol.