Modi Celebrates 11 Years in Office as India Surpasses Japan Economically
viewers, today Prime Minister Narendra Modi is celebrating his 11th anniversary in office. Indeed, on this day in 2014, Prime Minister Modi was elected as India’s prime minister and took office for the first time. It’s been 11 years since that day. And today viewers as he continues into a third term he was greeted with some good news. India has become the fourth largest economy in the world. It’s a great day to be told that the country is doing well reaching new milestones under your stewardship. Remember viewers we’ve come a long way. In 2013, Morgan Stanley placed India among the list of the fragile five economies in the world. These were economies which had become too dependent on skittish foreign investment to finance their growth ambitions. It was also a time when the then UPA era defense minister AK Anthony told us all rather sheepishly that India didn’t have enough money to buy Rafal jets to defend itself. Can you imagine viewers where we would have been in a circumstance such as this, such as today without those? Yes, you heard me right. Viewers, AK Anthony in February 2014 said, quote, “There is no money for this. Almost all the budget has been spent. Many other projects are also in the pipeline that require to be financed.” unquote. Today, a decade later, we are the fourth largest economy in the world, overtaking Japan, a feat unthinkable. Viewers, just 11 years ago, it would be fair to say that India under Prime Minister Narendra Modi has rewritten the global economic order. And I’m not saying this to flatter the Prime Minister or be partisan. The facts are clear. And they alone should speak. In 2023 alone, India clocked a real GDP growth of 7.6%. That has powered us to 4 trillion economy in GDP terms with global institutions from the IMF to Morgan Stanley hailing India as the world’s fastest growing major economy. At the current pace, we should overtake Germany by 2028. In fact viewers as I told you India has scaled Mount $4 trillion in the latest world economic outlook report released by the IMF. These are not government figures viewers. This is from the International Monetary Fund. India now fourth largest economy with GDP at $4.187 trillion surpassing Japan’s $4.186 trillion. And we’re only moving forward. We’re not catching up. We’re overtaking. By 2028, India is expected to push its GDP to beyond Germany’s. We will overtake Germany. We’ll have $5.5 trillion or more GDP. As things stands, US is really at top at 30 trillion. Then there’s China at 19 and there’s Germany 5 and a half and there’s India 4.187. Japan we’ve just gotten past. But even these statistics aren’t enough proof of growth for some. There has been once again sniping from the opposition. Now, no one expects viewers the opposition to be sitting firmly in the government’s lap. No, no one is saying that. But viewers, there’s also something called constructive criticism and criticism for the sake of criticism. And the Congress today has put out a huge big, you can see Graphic 11 years of false promises black money return 15 lakh in every account promise 2 cr jobs fuel price control Ganga cleanup doubling farmer income bullet trains PM kisan yoja expansion action on fugitives 5 trillion economy ban India PM aas yoja lpg cylinder price control malnutrition eradication 24/7 power rural internet plastic you name it viewers they’ve listed it but of Of course, these are simple constructs that don’t actually reveal the real detail. For example, viewers, the prime minister never said, “I’m going to bring back 15 lakhs from abroad of black money and put it in everyone’s pocket.” He said the amount of black money there is abroad for example would if someone were to bring it all back be so much that one could not one will one could put 15 lakhs in every pocket. Of course it’s easier viewers said than done. All of this money viewers is very closely tied up in shell companies. It’s sometimes so opaque it’s difficult to track it down. A lot has come back though and those numbers are also available. And while it is true that India’s GDP per capita is lower than a number of nations, it is also undeniable fact that India’s per capita GDP growth has been outpacing many advanced economies in 2023. India’s growth of GDP per capita is 7.2%. US is 2.1%, German 1.1%, UK6%, France 1%, Japan.5%. So we are getting more prosperous at a faster rate. The IMF calls India a global bright spot and continues to predict that India will grow the fastest among large economies, 6.2% this year and 6.3% next year. Even though viewers there are massive headwinds. The opposition mocks digital India. Today UPI clocks more transactions than Visa and Mastercard combined. They crowd file foul over demonetization and GST. Yet these very reforms formalized the economy, cleaned up the tax base and built a foundation for a $10 trillion dream. The world sees it. Apple, Tesla, Micron are lining up to make in India. And when it comes to infrastructure viewers, highways are being built at 38 kilometers per day rate. That’s the speed. Airports are doubling and BAT is transforming from the grassroots up. And all of this has been made possible by five key decisions. I’m not saying they’re the only decisions, but there are some five key decisions. The GST, you know, the impact. It boosted formalization, increased compliance, improved tax revenues and facilitated ease of doing business across states. There’s the digital public infrastructure impact, empowered millions, reduced leakages and welfare delivery and made India the global leader in digital payments. Today, many people are taking our model viewers and implementing it in their countries. There’s been a massive infra push. The impact is obvious. Turn infrastructure into economic growth engine and job create. All these roads, all these bridges, all these highways, all these other infra projects that are being built are creating jobs. They are not certainly being made by some gods that have descended from heaven. PLI and make in India. The impact there attracted global supply chains to India, reduced import dependence and boosted exports. Then there the formalization of the economy, demo, Aadhaar linked compliance, radar and faceless tax systems. NDA pushed for a cleaner, more accountable economy. But the opposition viewers, it is stuck in the 2004 mindset tweeting doom from their iPhones while Apple invests billions in make in India. The same Apple that they tweet from viewers is made now in India. 6% of all the world’s phones made in India. India’s not just back its leading and under Prime Minister Modi, the future according to the IMF and other global economic platforms isn’t just bright, but it is blazing. The only thing it appears is slowing India down is the negativity of those who bet against it. And therefore, viewers, tonight, let’s ask some basic questions, 11 years to this date, the prime minister has been in office and I want to begin with a few people here and ask them why they feel that this is not enough. Nothing can obviously be enough viewers. Nothing. I mean I can today stand up and say all of this doesn’t count for anything. Even Americans think that their GDP per capita is too little, too less. You go to any country in the world, they have a problem. So there is no end to wanting. But at least viewers, we’re on the right track. We’re on the right track. We’ve got a few things going for us. We worked out. We got a plan. So why this gloom and doom? And these are questions that now need to be answered. So I’m going to begin with you Sanjay Ja and Mr. Meotra and I want us to all crowd into this debate. It’s an important one. Sanjay Ja look we’re now the world’s largest fourth largest economy. We’re we’re we’re up there. In 3 years we’re going to go past Germany. The trajectory is upwards. It’s not downwards. It’s not flat. We’re not stagflating. We’re not stagnating. We’re going up. So why why this durge in the darkness? What’s going on? Just opposition for the sake of it, political point scoring. I mean going by your analysis, one would think we’re regressing. We’re regressing. Okay, Rahul. Uh you have done your uh introductory blitzkrieg. Uh to have a fair debate. Let’s get down to numbers. You know the beauty of economics is we can skip all the rhetoric and all this hyperbole. Okay, I’ll give you numbers and I’ll rattle them off in a jify. Yes. 10 years ago, India and China were being compared as contemporaries and peers. It was the dragon versus the elephant story. Look at the numbers. 10 years ago, China’s GDP was around 10 trillion. India was at two. And now you have China at close to 20, India at four. The conversation is not about India and China at all. It’s about China taking on the US and becoming the biggest economic and the superpowered etc etc. India has lost the story completely. I’ll give you the second point. If you take the denominator of China and India, they are the same. But look at the per capita income. China is at around $13,000 US. We are at 2,800. Today you’re gloating over Japan. I mean this is the typical urban elitist conversation. India has got around 800 million people on free rations. This government fudges data on poverty to say there is no poverty. But it gives free rations to 800 million people. Nobody trusts the data of this government. Anyway, a fundamental point that I’m sure will be discussed at least by Dr. Meotra for sure. You look at even COVID data 4 years after CO data comes out that there were excess deaths of 20 lakh in 2021. I have not seen in any democracy the data on death and casualties being concealed for four years. Since you rattled off about India becoming highly electronic and death registers are somebody needs to investigate as to why it took four years. Did it have to come after an election cycle? Do you know that the middle class in India is devastated and in serious debt? There is enough of it in the public domain. I won’t repeat that. rural wages where the vast section of India’s informal sector lives over the last 10 years has barely seen a growth in real wages. These are by the way data from government statistics. I don’t want to you know take 10 minutes quoting sources. They’re all there. Anybody can Google it. Mhm. Can you look at one data point please? That end of day 96% drop in FDI. I have debated with BJP people every day and you know they have come on shows and says under Mr. Modi the FDI has gone up to ballooning to extraordinary levels by the way from 10 billion to 353 million in one year that’s extraordinary and if you don’t believe that that doesn’t make us unattractive why are Indian millionaires successful businessmen what you call as the ultra high netw worth individuals who should be loving Mr. Modi’s ease of doing business. They’re leaving in thousands. The last read 5,000, 7,000, 8,000. You add 10 years. Let’s open this up. They’re leaving in thousands and they are being created a new by tens of thousands. Yes. See, the problem is calm down. Let me finish. No, one second. One second. Look, I’ve given you 5 minutes. Sanjay, do the math. If I give everyone 5 minutes, I won’t have a show left. So, you made five points. Let’s let’s get into it. After this, I have to say nothing. No, that doesn’t matter. Please allow others also to come in. You made a lot of sweeping statements unqualified and lend them one one minute. Let’s open this up. You made five points capitalism sir. Now you’re mansplaining away. Calm down sir. Relax. I mean 10 points 15 points. We can have a dissertation. That’s a pattern. Okay. No no it’s not. It’s not that. Please you never come back to me. That’s a pattern. Let’s let’s not let’s not mansplain. There are five other people also. Let’s not be so doineering. Come on. There are people who want to hear. You know Indians can’t keep themselves succinct viewers. You go to a big book launch and you ask somebody ask a question. They’ll give their opinion then they’ll come to the question if at all. You know this viewers I know this. So people like to sit and hog. They think they’re making lots of very profound points. They can actually say all of this in five quick points and be up with it. But no we we don’t know that. We don’t understand that because we are entitled. But that’s a different matter altogether. I want to bring in Rajiv Mantri on this. I also want to bring in the BJP. want swimming in Gotham Chikar Mane and of course there’s professor Mehotra who’s always got his fact there’s just one point I wanted to make Rajim Mantri before I toss it across to you you know there is a there is some sort of a misconception because gross FDI has been increasing yes net FDI has come down a little bit that’s because people are repatriating it’s a very very strange global economy right now viewers and whether you think about Indians leaving there are a lot more Americans who are investing in Europe and even settling in America or in UK or what have you. There are large number of businessmen from China that are going all over the place investing in Singapore setting up shops. So this actually says that uh we are more becoming more globally mature as businessmen. We can deal in other climates we can survive in other climates and that’s a good thing. But yes Rajim Mantri a quick few points where we used to be compared with China no longer. Yeah. Yeah. Not just repatriating capital Rahul uh also Indian businesses, Indian firms they are investing globally. Uh that has been on the rise for a long time now. Uh and that is something which is welcome. In fact uh I am all for further deontrol of capital flows. uh we want Indian companies to be going out abroad acquiring assets, acquiring companies that is very very welcome and uh this uh so-called misrepres this misrepresentation I would call it of the FDI position is uh uh people can keep crying about it that it has come down and so on but uh it is not such a sensitive uh thing for India anymore. We are sitting on something like 700 billion of forex reserves. uh so uh this uh absurd obsession with how much FDI has come in I mean uh it needs to stop one day because we want in fact Indian companies to be investing globally that’s a good point I mean I don’t think there’s an argument against that gotham chikar what do you feel Mr. Sanjay J has listed a huge number of grievances. Is he on Rahul? But you know when Sanjay was speaking I was just trying to stop myself from breaking out into laughter because so many of these tired and failed thesis have been repeated endlessly for the last four years. They have been rebutted constantly. But it doesn’t stop my friends like Sanjay Ja from coming on TV and repeating them yet again to be busted yet again. No data. He has no data. He has no stats. He’s indulging in rhetoric. He has no data. He can’t argue with me. There’s no point rebuting. I mean your your Indian data is regarding your rhetoric. Unlike Sanjay says Indian data is fudged as a buck cheer. Yeah. If I give Exactly. If I give you data, you will say it is data is fudged. That’s the problem. Chinese data is okay. Indian data is fudged. We will pretend that these are the views that should be taken by everyone. What’s the point of Okay. Okay. Okay. Then he says then he says I’m giving you government data economy I’m like you Sanjay G I like you okay then then Sanjay Ja also says first he contradicts himself he says Indian data is fudged then he says no but the data is also showing it so he believes the Indian data when he wants to make a point against the government but rejects it when the government when that same government is producing data that gives it a philillip anyhow uh goautam chik yeah respond please he made some five points yeah Rahul I don’t want to get into this tudu meme. I just want to time is very little and you said that you prefer people who speak their things in a jify and move on. I’m one of those people. So I just have three points to make. The first is that we made our first became a trillion dollar economy in 2006. It took us 8 years to become a $2 trillion economy. Seven years to become a three trillion and only four years to become a $4 trillion economy. No big deal about this. The growth rate is similar plus minus a percentage point or two u except that the compounding is happening right now at a level that has that was not seen when we were a $230 billion economy in 1991. The the point I want to make is that economic reforms have worked from 1991 onwards every prime minister has pushed for reforms uh barring one or two where there was political instability. The reforms that began with under constraints are now under Narendra Modi G with working with conviction. He believes in reforms and I can say this because I I have seen him there. You yourself listed out five or six reforms. I have a whole book on the other reforms that he has done. So reforms are working. Second thing is that this growth uh has come on lower inflation. Now when you talk about for instance you mentioned that we will cross Germany in 2026 or 28 sorry in 2028 that might not be true because you would be looking at only the real rate of return real uh growth rate. when you compare countries you look at nominal growth rates and in in my assessment and my calculations we will cross Germany in 18 months because Germany is growing at zero or negative while India will grow at close to 10 uh uh because we have a 3.5% inflation and even if you look at 6.5 I’m taking a very conservative number so we will cross Germany in 18 months the task will begin when we cross Germany because then we will have nobody else to cross until we until we meet China and that’s going to be a very lonely solitary journey. There will be no more celebrations. All celebrations that have to be done on growth rates will end once we cross Germany on a we have done this on a lower inflation in the from 2004 to 2014 average inflation rate was 8% from 2014 to 25 it’s 5%. which means the real growth rate is much higher than what was during the earlier dispensation and this is not to be politicizes I’m just throwing numbers here I think this momentum will continue there are several headwinds geopolitical being among them u we can all of which can be handled what cannot be handled is our own internal contradictions and here I think all the reforms that have happened since 1991 will get a compounded power they will compound at a much faster rate once you hand these reforms to small and medium entrepreneurs through compliance reforms. I have been talking about this for 3 years. Jan Vishwas bill has been uh enacted and implement and notified but Jan Vishwas 2 is on. I believe that if we continue with compliance reforms just the way the government seems to be right now then this growth rate will not only increase and now I’m talking about wishful thinking I’m not interested in 6.5 7% I’m interested in 9% 10% real growth rate and these are not fantasies these are very very possible the textures of aspirations have changed from 1991 to 2025 there is a new aspiring class just you need to give them the tools get out of the way and I see India growing even faster provided these last mile reforms happen and which in my opinion and observation do seem to be happening okay so so let me bring in Mr. Mehotra and after that Rohan Gupta Mr. Mehotra, Professor Meerotra, I just have to ask you this. It’s important. Should labor codes now be u enacted? The three labor codes, should they be enacted? Uh should they be enacted? Rahul, they need to be notified. Notified. Should we have should we have uh should we have um uh payments made to all farmers across the country for their producer enacted by law? You mean MSP legal for 23 products? Is that what Yes sir. Yes sir. I mean isn’t that a bit of a digression? I can answer that. I have no issues. The reason this is not a digression is because these labor codes for example which haven’t been notified are extremely crucial. Some would say this a big reform would allow for precisely this is precisely the point and and let me finish because now you’re getting the connect that I’m trying to draw. Should the three farm laws be brought back onto the books? These are questions that we have to ask ourselves because if we’re going to oppose as opposition does then you have a problem and they’re only doing it for politics because the farm laws the the end of the farm laws was promised by the UPA the Congress party in its own manifestos the same provisions you know under different names etc etc but when it came to it to doubling farmer incomes to living up to that commitment through these farm laws we blocked them you saw the agitations Today the app the same party that supported the farmers are now going out there and kicking them out and saying listen enough of your tamasha get on with life on the labor law I’m not going to take a position because there must the government must be having some reason for deciding that not to notify they know perfectly well that the trade unions are not going to be happy they were not happy then and they’re unlikely to be happy any now. So, please don’t uh uh try and put me on the spot. The government must be having very good reasons for not coming up with the notification of the of the labor laws on the uh the MSP that you are asking I think and the three farm laws. Listen, the prime minister has withdrawn them. There is no chance of their coming back. He’s already said that he’s not going he’s not planning to bring them back. He said he felt that he had made a mistake. He he admitted the mistake. So there is you know the possibility that the farm laws coming back itself is a non-starter. So why are we even going there? I mean you may believe that it was the you know next breast thing after white bread but you know the farmers didn’t think so. I mean the farmers have a viewpoint and I think there is some good sense in there that 23 products can should have an and MSP and it’s not going to cost what you and your anchor colleagues have on on the channels been point telling the the word that is going to cost 10 lakh crores 20 lakh crores nothing of the kind. The fact of the matter is that the the government is is supposed to come in on the MSP if and only if the price drops below the mark the announced MSP. Only if the market price drops below and if the market price drops below then the government intervenes and buys and then the as a result of the government’s entering into the market the prices rise again and then the government stops buying. As a result of that the total cost estimated for 23 products is nowhere more than 30 to 40,000 crores perom and reg and imagine what the implications of that Rola you’re a you know you’re a very sensible kind of anchor you know at least you don’t allow people to heckle and so on so you’re allowing me thankfully to to make my point the fact of the matter is that it will enable the Punjabi farmers to diversify if you have 23 3 products receiving an MSP not just rice and be if only rice is continuing to receive a assured price the Punjabi farmer will continue to behave in the way he’s behaving it’s an irrational behavior they know it it’s irrational behavior and if so so let me stop there I thought that this discussion was about you know we doing the greatest of and so on so on because you made out a list of wonderful things that have been done and I I have some questions about that Rah if you don’t if if you permit I’ll say some things about them. You talked about the GST, it’s improved revenues. You know, telling us about improved revenues on in absolute rupee terms doesn’t tell you anything. As economists, we only measure revenues as a proportion of GDP. And we know we know that the re GST revenue as a proportion of G of GDP is exactly the same as it was when 2017 the GST came into existence. when all the other 17 lo taxes were in place. Point.1 point two infrastructure. Yes, I agree with you. There’s been a massive in significant not massive significant increase in expenditure uh in in as a proportion of GDP on ma on infrastructure. However, most of this uh infrastructure investment is now being done by the center not by the states. twothirds of all investments by the by by the government used to be done by the states and that that’s in small at a smaller scale and therefore creates jobs and because it creates jobs it creates it it leads to a multiplier effect. Unfortunately the infrastructure investment by the center is only in uh highways okay airports and which are highly capital intensive don’t generate jobs manufacturing you say we are doing brilliantly manufacturing as a proportion of GDP has actually come down from the 17% for 20 prevailing for 25 years to 13% it’s not rising manufacturing employment has actually fallen in absolute so you’re He said formalization 91% of our books are informal. 95% of our enterprises are informal. I’m sorry. 95% are informal. He says digital infrastructure has come into existence. Fantastic. Okay. So, four points. Okay. Four points. You made four four points on the issue. You see viewers, I always believe that you can’t park the reform argument outside of this discussion because reforms are the ones that create the buoyancy in the economy. They are the ones who propel the economy. If you’re going to constantly block reforms just because Punjabi farmers and you see the cat came out of the back just because one small section of farmers had a problem, we must stall all reforms. And I don’t agree that the BJP pulled back on the three farm laws. I I think they should have pressed on. But then viewers, you saw the scenario. The prime minister was being accused of being a uh fascist dictator. All sorts of influencers with all sorts of agendas started jumping on. And today, of course, those very parties have disowned those farmers. But anyhow, let’s not go down that route. That’s the reason I posed that question. And if the opposition is not even going to walk that extra mile, they’re going to hold the country viewers to ransom and we’re not going to have the reforms. So the problem also lies with the opposition. They want those reforms blocked. So the economy doesn’t do well so they can score points against Modi. That’s the problem and that is the vicious circle and it happened earlier also. I’m not saying that the BJP didn’t resist some very good reforms that were brought by the UPA. That also happened because it’s politics. But anyhow I just want to quickly bring in Mr. Mantri once very quickly wanted to make a point and then I want to bring in Rohan Gupta the national spokesperson of the BJP on some of the points that Mr. Mehotra made. Yes Rajim Mantri. Yeah. So on on GST Rahul so GST when it was implemented was a massive indirect tax cut and the fact that after giving a very large indirect tax cut the fact that the indirect tax revenues as a percentage of GDP have continuously risen only points to the formalization of the economy. the fact that more and more firms are registering obtaining GST numbers paying the due due indirect taxes which was being awaited earlier they are leaving the cash economy they are getting formalized as firms and they are being part of the value chain of the uh GST inputs so there is no escaping this I mean this is a very very strong lived phenomenon uh countless like proprietorships countless partnership firms of all sizes have joined the tax net and in spite of tax cuts we have seen a rise in tax revenue you which is what uh any good economist economist which is what India has achieved. So so there you go viewers a technical intervention if I may just one video give me a chance to come back to the GST revenues I think we need to add excise on fuel uh to to completely equate the yes and in the present the moment you do that the numbers I believe will change okay that’s an important point actually very quickly Mr. the one second. One second. Let Ro Gupta come. He hasn’t spoken at all. He’s waited now. You know, you would have been very upset if I made you wait 29 minutes. So, he let him let him let him has let let him have a seat. Please, I’m sorry to have kept you waiting. In fact, more than 29 minutes. Actually, 33 minutes because we start this program 5 minutes before 9. Rowan Gupta, I think you’re on you’re on mute. You respond to Sanjay J. Mr. Mhotra and others. You’re on mute. Mr. Rowan Gupta, you’re on mute. Unmute yourself and go. No, I’m not on mute. Can you hear me, director? I can’t hear him. I am not on mute. He’s not on mute. He says I can hear you. I can hear you. Okay. I can hear you. Okay. Okay. I I can’t I don’t know why the viewer is not being able to hear you. Okay. Can you hear me now? We can hear you now. Go ahead. Yes. Okay. So my old friends and correct when you speak about numbers and I’ll tell you whoever knows economics the biggest parameter of GDP number is the PPP purchasing power parity and if you see the numbers if you apply PPP there India is number three at 16 trillion because cost of living or cost of staying is not same as what is US and India right so when you say the numbers you have to be very very correct Sanjay the our our GDP has doubled in terms of nominal and in terms of PPP we are number country in world. So you need to understand that how the India is growing. If you see any other parameters, India has represent the robust growth in last 10 years because of the political stability also whether you say making India we have seen the strength of making India very recently unemployment numbers if you see refer economic survey 2025 it has come down to 3.2 2 inflation 3.5. So if you see the growth it is a robust growth which is all the sectors of the society if you see banks the NPS are the historical low the profits of PSUs is historical high and if you see the share markets they are doing extremely well. So when the whole economy is you know in a situation where we feel that yes we are proud of this kind of economic situation where the platform is such that we are going to grow multiffold. You cannot criticize the numbers are there. You can misrepresent the numbers but at the end of the day if you see the overall atmosphere you should at least even you are in opposition you are not technically in opposition but still you should at least admit where things are right otherwise people will never trust you all the numbers I have said you cannot challenge any number but my friend when you criticize something you have to see what is the history you see last 10 years 2004 2014 what was the inflation average inflation 8.9%. what was the per capita income? You just check it there. So my point here is either when you compare apple to apple, you compare it properly. When something is right, you should be able to even if you are in opposition, you should not criticize each and everything. Otherwise, people will not trust any of your statement even if they are right. Well, there’s been a surge in infrastructure development. National highway length has nearly doubled from 91,000 kilm to over 1.4 lakh kilometers. And I think Mr. Mehotra said there has been significant infraat development. He used that word significant not massive. Electrified railway tracks have been increased from 21,000 km to 40,000 kilometers. Udan scheme made air accessible, air travel accessible in tier 2, tier three cities adding 74 new airports. It’s all around us. Digital transformation, financial inclusions, remember. Have you have you have you seen some of the ops that have been coming out asserting that India is building too much infrastructure? I’ve been reading some of those. The Chinese trap is what imagine where we have come as a country imagine where we have come from being an infrastructure starve today respons the only thing that appears hang on that is slowing India down is the negativity of those who bet against it and I can say that viewers with great clarity I’m saying that there’s there’s constructive criticism bring it on but let’s not spin it constantly with political invective view that really becomes bit complicated let’s Just move on.
Prime Minister Narendra Modi marks 11 years in office, emphasizing India’s ascent to the world’s fourth-largest economy, overtaking Japan. Supporters credit initiatives like GST and digital infrastructure for the progress, despite opposition criticism, with a goal of reaching a $5.5 trillion economy by 2028.
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