India Soon to Be World’s Third-Largest Economy: PM Modi in Tokyo
Prime Minister Narendra Modi, while addressing the India-Japan Economic Forum in Tokyo on Friday, underlined India’s political and economic stability, rapid progress, and its significant role in the global economy. He declared that India will soon emerge as the world’s third-largest economy. During his speech, he also highlighted the strength of India-Japan relations and their vision of shared prosperity.
PM Modi Stresses India’s Stability and Transparency
The Prime Minister began his address by referring to India’s current situation. He said, “Today, India has political stability, economic stability, transparency in policies, and predictability. India is the fastest-growing major economy in the world and will very soon become the third-largest economy.”
Modi pointed out the reforms in policy-making, stressing that today’s India not only attracts capital but multiplies it manifold. Reflecting on the nation’s development journey over the last 11 years, he said that India’s presence and recognition have expanded across the globe. He mentioned that India contributes 18% to the global GDP, while its markets are delivering strong returns for investors.
Reference to Recent US Tariffs
The Prime Minister’s remarks came at a time when the United States doubled tariffs on imports from India to 50%, citing New Delhi’s continued oil purchases from Russia as the reason. Experts suggest that this decision could impact India’s growth trajectory and job creation.
This move has intensified global pressure on India’s economic policy, yet Modi clarified that India is firmly advancing on its growth path. He assured foreign investors that India’s governance model offers transparency and predictability, ensuring a secure and trustworthy business environment.
Approach of Reform, Transform, and Perform
In his speech, Modi reiterated the government’s three-pillar strategy of ‘Reform, Transform, and Perform,’ calling it the driving engine of India’s progress. Encouraging investors, he said, “Our approach not only secures your investments but also multiplies them manifold.”
He highlighted structural reforms of the past decade, including Digital India, the startup boom, Make in India, and production-linked incentive schemes. Modi noted that India has become a global hub of innovation and entrepreneurship, with strong growth across sectors—from technology and manufacturing to agriculture and services.
India-Japan Partnership: Strategic and Sensible
Placing special emphasis on India-Japan ties, the Prime Minister described the partnership as both strategic and sensible. “On the basis of economic logic, we have turned shared interests into shared prosperity. For Japanese businesses, India is the springboard to the Global South. Together, we will lead the Asian century towards stability, growth, and prosperity,” Modi said.
Technology and Investment Collaboration with Japan
The India-Japan alliance is not limited to diplomacy and economics but is also deepening in technology and investment. Several major Japanese companies are investing in India in manufacturing, automobiles, electronics, and infrastructure. Modi invited Japanese businesses to partner in India’s growth story, leveraging their expertise, resources, and technological innovation to help India become the third-largest economy.
Towards the Global South and the Asian Century
According to the Prime Minister, India leads the ‘Global South’. He remarked that amid rapidly changing geopolitical conditions, India symbolises stability, tolerance, and prosperity. He added that India-Japan cooperation will play a crucial role in driving Asia towards development, prosperity, and sustainability in the 21st century.
He stressed that through shared capital, technology, and human resources, India and Japan will not only ensure their own growth but also reshape Asia’s economic strength.
Future Prospects and Challenges
Modi stated that global investors are increasingly attracted to India. He expressed confidence that India will soon rise as the world’s third-largest economy, backed by strong policies, political stability, and economic transparency.
However, he also acknowledged that global shocks such as US tariffs pose challenges for India. The government, he said, is working to resolve such issues through dialogue and diplomacy.
Conclusion
Prime Minister Modi’s remarks in Tokyo reflected India’s strength, policy clarity, and its growing role on the global stage. With rapid growth across petroleum, manufacturing, digital economy, startups, and services, India is moving ahead with speed and determination. The strengthening India-Japan partnership is paving the way to turn shared interests into shared prosperity.
The vision of India becoming the world’s third-largest economy is now gaining both direction and momentum under Modi’s leadership.
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