India Is Heading To Become World's Third Largest Economy, Says PM Modi At Vibrant Gujarat Summit

Ahmedabad: Prime Minister Narendra Modi on Sunday said Gujarat has played an important role in India's journey to become the fastest-growing economy after inaugurating the Vibrant Gujarat Regional Conference in Rajkot.

Terming the Vibrant Gujarat platform as a reflection of the journey of modern India, PM Modi said the state has witnessed growth across all sectors, emerging as a key growth engine for both domestic and global investors.

"India is rapidly advancing towards becoming the world's third-largest economy, and data coming in makes it clear that global expectations from India are rising. India is the world's fastest growing large economy, inflation is under control and agricultural production is setting new records. India is number one in milk production, number one in generic medicine production and produces the most vaccines in the world," PM Modi said.

Presenting a fact sheet on India's growth, the Prime Minister said that over the last 11 years, India has become the world's largest mobile data consumer and second-largest mobile manufacturer. Today, India has the world's third-largest startup ecosystem and third-largest aviation market, he said.

PM Modi, who is on a two-day visit to Gujarat, attended the Swabhiman Parva in Somnath and then reached Rajkot, where he inaugurated the Vibrant Gujarat Regional Conference. This is the second edition of the Vibrant Gujarat Regional Conference (VGRC) for the Kutch and Saurashtra region, aiming at providing a strong platform to industries, MSMEs, government institutions and entrepreneurs.

On the occasion, PM Modi inaugurated 13 new smart industrial estates in seven districts, including Amreli, Bhavnagar, Jamnagar, Kutch, Morbi, Rajkot and Surendranagar, spanning over 3540 acres under the Gujarat Industrial Development Corporation.

"This is my first visit to Gujarat in 2026 and it's all the more pleasant because my journey began with praying at Somnath Temple. Vibrant Gujarat Summit is not any summit but the journey of modern India that began with a dream and has now reached a point of unwavering confidence. It means both development and heritage. In two decades, the Vibrant Gujarat journey has become a global benchmark. Ten editions have been held so far, and with each edition, the identity and role of this summit have grown stronger."

PM Modi takes part in the Vibrant Gujarat Regional Conference (IANS)

PM Modi said he has been associated with the vision of the Vibrant Gujarat Summit since day one. "In the initial stages, our aim was to introduce the world to Gujarat's potential and we wanted people to come here and invest, thereby benefitting India. But today, this summit has gone beyond just investment and become a strong platform for global growth, international cooperation, and partnerships. Over the years, the number of global partners has continuously increased, and with time, this summit has become a great example of inclusion. Here, corporate groups, along with cooperatives, MSMEs, startups, multilateral and bilateral organisations, and international financial institutions, engage in dialogue and discussions and walk hand in hand with Gujarat's development. Over the past two decades, the Vibrant Gujarat Summit has consistently done something new, something special."

He said that Saurashtra and Kutch teach that no matter how big the challenge, if it is fought with honesty and hard work, success is inevitable. "This is the same Kutch that faced a devastating earthquake at the beginning of this century. This is the same Saurashtra where droughts were common for years. Women and girls had to walk for miles to fetch drinking water. There was no reliable electricity. But today people of Saurashtra and Kutch have changed their destiny through their hard work. Saurashtra and Kutch are not just regions of opportunity, but have become an anchor region for India's growth."

"Saurashtra and Kutch region is becoming a major centre for giving momentum to the 'Atmanirbhar Bharat' campaign. It has a very significant role in making India a global manufacturing hub, and this role is market-driven, which is what builds the greatest confidence for investors. In Rajkot, there are more than 2,50,000 MSMEs. In the various industrial clusters here, everything from screwdrivers to auto parts, machine tools, luxury car liners, and even parts for airplanes, fighter planes, and rockets are manufactured in Rajkot."

This apart, Saurashtra and Kutch are also becoming a major hub for India's green development, green mobility, and energy security, he said. A 30-gigawatt capacity Renewable Energy Park is being built in Kutch, which will be the world's largest hybrid renewable energy park. "You can imagine that this park is five times larger than the city of Paris. That is, in this region, along with the commitment to clean energy, there is also the reality of business-scale implementation. All of you are familiar with the potential of green hydrogen. In India, unprecedented speed and scale of work is underway in this direction. Kutch and Jamnagar are becoming major centres for green hydrogen production. A massive Battery Energy Storage System is being established in Kutch," he added.

PM's Vision Reshaped India's Trajectory For Next 50 Years: Mukesh Ambani

Speaking at the Vibrant Gujarat Regional Conference, Chairman & Managing Director of Reliance Industries Limited, Mukesh Ambani never in the history of independent India, have so much hope, self-confidence, and vibrancy been witnessed. "Your (PM Modi) vision has reshaped India's trajectory for the next 50 years and more. History will record that the Modi era is when India moved from potential to performance, from aspiration to action, from being a follower to becoming a global force," he said.

Ambani announced doubling Reliance's investment over the next five years. "In the last five years, we have invested over Rs 3.5 lakh crores. Today, I am pleased to announce that we will double this to Rs 7 lakh crores over the next five years. In Jamnagar, we are building India's largest artificial intelligence ready data centre with a single goal, affordable AI for every Indian. Jio will launch a people-first intelligence platform built in India for India and the world, enabling every citizen, starting from Gujarat, to access AI services in their own language on their own device every day, making them more efficient and productive," he added.

Under PM's Leadership, India Undergoes Transformation, Not In Scale But Mindset: Karan Adani

Karan Adani, MD of Adani Ports & Special Economic Zone Ltd, said India has undergone a fundamental transformation, not just in scale, but in the mindset under PM Modi's leadership. "You have taught the nation to think long term, to build institutions instead of announcements, and to see development not as a series of projects, but as a civilisation's mission. From reforming governance and infrastructure to restoring India's global confidence, you have redefined what decisive leadership looks like in a democracy," he added.

Adani Group announced an investment of Rs 1.5 lakh crores over next five years in the Kutch region. "For the Adani Group, Gujarat is not just a state of investment, its our foundation. Our chairman, Gautam Adani, has always believed that the growth of our group must be inseparable from the growth of the nation. Gujarat is where our journey began and Gujarat is where our long-term commitment remains anchored. Building on this foundation, the Adani Group commits to invest 1.5 lakh crores over the next five years in the region of Kutch. We will complete our Kavda project and commission the full 37 gigawatt of capacity by 2030. We will also double our port capacity at Mundra in the next 10 years. Adani Group remains deeply committed to being a trusted partner in building a strong, self-reliant and globally respected India," he added.

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