Speaking from the 17th-century Red Fort in Delhi, as India celebrates its 75th year of independence from British colonial rule, Modi urged young people to “aim big” and give their best years to the country’s cause. “We have to make India a developed country in the next 25 years, in our lifetime,” Modi, 71, wearing a turban in the colors of the Indian flag, said in his 75-minute speech in Hindi. Sign up now for FREE unlimited access to Reuters.com Register “It is a big resolution and we should work to achieve it with all our strength.” The World Bank currently categorizes India as a lower-middle-income economy – reserved for countries with a per capita gross national income between $1,086 and $4,255. High-income countries, such as the United States, have a per capita income of $13,205 or more. Indian Prime Minister Narendra Modi meets folk artists after addressing the nation during Independence Day celebrations at the historic Red Fort in Delhi, India August 15, 2022. REUTERS/Adnan Abidi read more India is the world’s sixth largest economy and is expected to grow over 7% in the current financial year ending March 2023 – the fastest among major economies. Many experts say India’s economy could expand to become the world’s third-largest by 2050 after the United States and China, although per capita income, about $2,100, may remain low compared with many Countries. With about 1.4 billion people, India is expected to overtake China as the world’s most populous country next year. Countries like the United States already see India as a future challenger to China’s dominant influence in Asia and beyond. US President Joe Biden on Sunday congratulated India on its national day and said the United States and India are “indispensable partners” who will continue to work together to address global challenges in the coming years. read more India’s neighboring Pakistan, which was part of British India and became independent at the same time, celebrated its independence day on Sunday. Sign up now for FREE unlimited access to Reuters.com Register Report by Manoj Kumar. Edited by: Raju Gopalakrishnan Our Standards: The Thomson Reuters Trust Principles.
