Narendra Modi Pledges to Make India a Worldwide Manufacturing Powerhouse as Businesses Leave China

By Trisha Andrada

Apr 15, 2024 02:08 AM EDT

Indian Prime Minister Narendra Modi vowed to transform the nation into a worldwide center for manufacturing and build infrastructure as corporations start to flee China. He made these promises on Sunday, April 14, as he announced the electoral platform for his Hindu nationalist party, the Bharatiya Janata Party (BJP).

This year's elections in India are only a few days away. Voting for parliament will begin on April 19 and end on June 1, with results revealed on June 4. Modi is aiming for a third consecutive five-year term in office.

Modi Plans to Boost India's Economy to $5 Trillion by 2027

According to The Associated Press, during his nationwide campaign, Modi pledged to increase India's economic output from its current level of around $3.7 trillion to $5 trillion by 2027. He also said that by 2047, the nation would be well on its way to becoming a developed nation.

While campaigning on Sunday, he said his party will transform India into a global leader in the energy, pharmaceutical, semiconductor, and tourist sectors. The Indian government would upgrade its railroads, airports, and waterways, he said.

Moreover, he promised to work on expanding youth employment opportunities and lowering startup capital cost for young business owners.

Modi Pledges to Increase Social Program Funds to Alleviate Poverty

During the campaign, Modi also pledged to increase funding for social programs established during his party's ten-year reign.

These programs include healthcare, free cooking gas, free food, and millions of free houses for people experiencing poverty. His administration has also paid farmers in need an annual payment of 6,000 rupees ($73).

Since taking office in 2014, he claims his programs have helped bring 250 million people out of poverty. With more than 1.4 billion people, India is the world's most populated nation. BJP president JP Nadda stated that fewer than 1% of Indians live in terrible poverty.

Because of his leadership throughout the country's fast economic development and his reputation as an ally of the Hindu majority, Modi has widespread support in India.

Industry