India’s Path to a Developed Nation: PM Modi Outlines Vision for 2047 on Independence Day
On the occasion of India’s 78th Independence Day, Prime Minister Narendra Modi addressed the nation from the historic Red Fort, outlining a bold vision for the country’s future. Highlighting the collective effort of 140 crore Indians, PM Modi emphasized the commitment to transforming India into a ‘Viksit Bharat’ by 2047, marking the centenary of Independence.
PM Modi underscored the ambitious goal of making India the third-largest economy by implementing significant reforms across various sectors. “If 40 crore Indians could secure freedom in 1947, then more than 140 crore citizens can certainly contribute to making India a developed nation by 2047,” he stated. He noted that extensive feedback from millions of Indians has informed the path forward, with economic growth and becoming a top global economy as key objectives.
Reflecting on the progress made in the banking sector, PM Modi credited the reforms undertaken by the BJP-led NDA government over the past decade. These reforms, he said, have rejuvenated the sector, which had previously struggled with high non-performing assets (NPAs) and losses. “Indian banks are now among the strongest globally, and they have become the backbone for the growth of our micro, small, and medium enterprises (MSMEs),” he added. Notably, the cumulative net profit of all banks surpassed Rs 3 lakh crore for the first time in the 2023-24 fiscal year.
The Prime Minister also highlighted successful initiatives like ‘Vocal for Local’ and ‘One District One Product,’ which have boosted exports from smaller cities and towns. He praised India’s achievements in renewable energy, stating that the country has surpassed the performance of G20 nations in this sector. India aims to achieve 500 GW of renewable energy capacity by 2030 and become energy self-reliant by 2047.
In addition, PM Modi mentioned the need for more “greenfield cities” such as the Gujarat International Finance Tec-City (GIFT City) to support future growth. He also noted the global adoption of fintech innovations like UPI, showcasing India’s leadership in financial technology.
In his Independence Day address, PM Modi reaffirmed the government’s commitment to driving reforms and achieving the long-term vision of a prosperous and developed India by 2047.
