Marking 75 years of Indian independence, Prime Minister Narendra Modi said the country would strive to become a developed nation within 25 years.
In his national day address on Monday, celebrating independence from British colonial rule, Modi said his government's policies would support domestic production in power, defense, and digital technology.
"We must turn India into a developed country in the next 25 years, in our lifetime," PM Modi said in his 81-minute-speech in Hindi. "It's a big resolution, and we should work towards it with all our might," he added.
India — the world's sixth-largest economy — is expected to grow at over 7% in the current fiscal year ending in March 2023, the fastest among major economies.
According to experts, the country may expand to become the world's third-largest by 2050 after the United States and China, Reuters reported. Ahead of his speech at the Red Fort, PM Modi unfurled the national flag amid a 21-gun salute.
Meanwhile, its neighbor Pakistan — which was also a part of British India and became independent at the same time — celebrated its independence day on Sunday.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.