The Prime Minister of India announced the country's movement towards the position of the third economy in the world

India is rapidly approaching the status of the world's third largest economy. This was announced on July 12 by Indian Prime Minister Narendra Modi, as quoted by The Economic Times newspaper.

Modi said on Saturday that India is rapidly moving towards becoming the world's third largest economy, adding that the country has made progress in all sectors over the past 11 years.

The Prime Minister said that the manufacturing industry remains one of the main pillars of the Indian economy, and it creates a significant number of new jobs.

According to the newspaper, Modi pointed to the significant results achieved under the industrial stimulus program. Thanks to the PLI scheme, 11 million jobs were created in the country. He stressed that the mobile phone and electronics sector has shown unprecedented growth in recent years: the volume of electronic products has reached 11 trillion rupees, and the sector itself has increased more than fivefold over the past 11 years. The Prime minister noted that previously there were only 2-4 mobile phone manufacturing enterprises in India, but now their number has grown to about 300, employing hundreds of thousands of young professionals.

Speaking about measures to support the private sector, Modi announced the launch of a new government initiative to stimulate employment. He noted that the government is focused on creating new jobs in the private sector.

According to him, a program was recently approved under which 15,000 rupees will be paid to young people applying for their first job — "the government will participate in the payment of the first salary." The prime minister added that a budget of about 1 trillion rupees has been allocated for the implementation of the initiative, and the program itself is designed to create about 35 million jobs.

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Indian Ambassador to Russia Vinay Kumar — on trade with Russia, joint production of missiles, conflict with Pakistan and mediation in the Ukrainian settlement

Debjit Chakraborty, director of the joint Russian-Indian integrator RISING, said on April 29 that India is committed to cooperation with Russia in the field of technology, artificial intelligence and cybersecurity. According to him, relations between India, Russia and the BRICS countries are an alliance made in heaven. Changes are coming to the global economy, especially in the technological sphere, and technology will become an integral part of trade.