 New Delhi, Mar 5:
Agencies
Prime Minister Narendra Modi on Wednesday said that the day is not far when India will turn a USD 5 trillion economy as he urged all stakeholders to invest in people, economy, and innovation to create jobs and boost growth.
Speaking in a post-Budget webinar on employment, Modi said the government has provided skill training to 3 crore youth since 2014 and decided to upgrade 1,000 ITIs and set up five centres of excellence.
Referring to an IMF report of February 2025, Modi noted that between 2015 and 2025, India grew by 66 per cent, making the country a USD 3.8 trillion economy.
Observing that the country’s growth surpassed that of several major economies, he said “the day is not far when India will become a USD 5 trillion economy.” He also stressed the importance of making right investments in the right direction to continue expanding the economy.
Modi underlined the critical role of implementing budget announcements in achieving this vision and acknowledged the significant contributions of all stakeholders.
He stated that capacity building and talent nurturing act as the foundation stone for national development and in the next phase of growth, greater investment in these sectors is essential.
“The vision of ‘investment in people’ stands on three pillars — education, healthcare, and skill development,” he said adding that today, India’s education system is undergoing a transformation.
He said this year’s Budget serves as a blueprint for India’s future, and that investments have been prioritized equally across infrastructure, industries, people, economy, and innovation.
Modi highlighted the PM Internship Scheme that was launched to provide new opportunities and practical skills to youth.
“We must ensure that businesses at every scale actively participate in this scheme. In this year’s B The government has provided skill training to 3 crore youth since 2014.
Between 2015 and 2025, India grew by 66 per cent, making the country a USD 3.8 trillion economy.
Implementing budget announcements is important for achieving goals.
India’s education system is undergoing a transformation.
He urged industry to invest in the healthcare sector and also talked about the potential of medical tourism to create jobs.
Modi also emphasized the establishment of daycare cancer centres and the development of digital healthcare infrastructure to ensure quality healthcare reaches the last mile.
Modi highlighted that the tourism sector has the potential to contribute up to 10 per cent to India’s GDP and create employment opportunities for crores of youth.
“50 destinations across the country will be developed with a focus on tourism,” said the Prime Minister adding that granting infrastructure status to hotels in these destinations will enhance ease of tourism and boost local employment.
Highlighting the expansion of the Mudra Yojana to support homestays, Modi also stressed on initiatives like ‘Heal in India’ and ‘Land of the Buddha’ to attract global tourists. “Efforts are being made to establish India as a global tourism and wellness hub.” “To cater to a larger population, planned urbanisation is essential. We have decided to allocate Rs 1 lakh crore to the Urban Challenge Fund. The private sector, especially the real estate industry, must focus on planned urbanisation,” he said.
The government has given importance to skill development at par with the infrastructure sector, he added.
AI, he said could contribute lakhs of crores to the economy. “In this direction, we have allocated Rs 500 crore for AI-driven education and research in the budget.” He also stated that India will set up National Large Language Model for development of AI capacity. |
