Modi had announced his plans to attend the ceremony, while he was interacting with BJP workers via video-conference on Wednesday.
Traditionally, the prime minister hoists the national Tricolour at the historic Red Fort on Independence Day on August 15.
In his address, the Prime Minister who donned an Indian National Army cap, elaborated on the contributions made by Subhas Chandra Bose.
"Today I bow down to the parents who gave birth to a son like Netaji Subhash Candra Bose, who sacrificed his all for the freedom of the nation", he said.
"Azad Hind Government was not only a name but under the apt leadership of the Netaji, this government had plans for every field. The government had its own bank, own currency, own postage stamps own intelligence system. Netaji had just one aim and that was the freedom of India", he said.
Launching an attack at the Congress, PM said "For one particular family the sons of the nation were forgotten”.
He said that Netaji had promised an India where everyone has equal rights and equal opportunities. He had promised a prosperous nation which was proud of its traditions, development in all areas. He had promised to uproot 'divide and rule'. Even after so many years those dreams remain unfulfilled.
"We have reached 'Swaraj' after lakhs of sacrifices. It is our responsibility to maintain this 'Swaraj' with 'Suraaj'", he said
Earlier, Modi had said that BJP respects everybody who served the country, irrespective of party affiliation. He said his government celebrates the contributions of many great personalities who were neglected by the Congress in its rule of several decades.
While the Congress neglected the likes of Bhim Rao Ambedkar, Bose and Sardar Vallabhbhai Patel, the BJP believed in remembering everybody who contributed to nation-building, he said, citing his government's works, including constructing museums for noted tribal personalities and developing five places linked to Dalit icon Ambedkar.
"We respect everybody who served the country," he had said