India moved from 'fragile five' to major economy in 12 years, says Modi

Prime Minister Narendra Modi marked India's 80th Independence Day by celebrating the nation's significant economic transformation. Addressing the country from the Red Fort, Modi declared that India had moved from the "fragile five" economies to a major global economic power, attributing this shift to the collective efforts of its citizens over the past 12 years.

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people's efforts over the past 12 years had helped India move from the “fragile five” to a major economy.

The "fragile five" term historically referred to economies heavily reliant on volatile foreign investment. Modi's speech emphasized India's newfound economic resilience and strength.

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more than 50 lakh households across the country are now covered by solar energy.

He highlighted key developments in the country's infrastructure and energy sectors. Over 50 lakh households are now benefiting from solar energy, and the piped gas network has expanded dramatically, reaching 700 cities from just 70 a decade ago, connecting 1.75 crore households.

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piped gas connections had expanded from 70 cities 12 years ago to 700 cities today, with 1.75 crore households now connected to the network.

In the energy sector, India is pushing towards a 100 GW nuclear energy target and is actively establishing five new nuclear reactors. Furthermore, Modi announced that India has finalized free trade agreements with 40 countries, underscoring the growing international confidence in India's economic potential and global engagement.

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India has set a target of 100 GW of nuclear energy and is working to set up five new nuclear reactors.