Bengaluru: Prime Minister Narendra Modi on Sunday asserted that India is advancing rapidly towards becoming the world’s third-largest economy, crediting the pace to what he called a “reform, perform and transform” approach backed by clear intent and honest execution.
Speaking after laying the foundation stone for the Bengaluru Metro Phase-3 project, valued at over Rs 15,610 crore, Modi also inaugurated the Yellow Line of the city’s metro, worth Rs 7,160 crore, and flagged off three Vande Bharat Express trains.
The event took place against the backdrop of political sparring over credit for the metro expansion. Karnataka Chief Minister Siddaramaiah said the state government has invested more than the Centre in Bengaluru’s metro network. Deputy Chief Minister D K Shivakumar claimed that 80–90 per cent of the project cost was borne by the state, adding, “Centre has fully neglected Karnataka, but to respect Prime Minister Narendra Modi, we requested him to inaugurate the Metro Yellow Line.” Rural Development Minister Priyank Kharge accused the BJP of “hijacking” credit.
Union Railway Minister Ashwini Vaishnaw countered, saying the annual railway budget for Karnataka rose from Rs 835 crore before 2014 to Rs 7,500 crore after Modi took office.
In his speech, the Prime Minister highlighted recent military operations, referring to “Operation Sindoor” as proof of India’s capability to strike deep into enemy territory and bring those defending terrorists “to their knees within hours.” He attributed the success to advanced defence technology and the ‘Make in India’ initiative.
Modi noted that India’s economy has moved from the 10th position to the top five in the past 11 years. “We are moving fast to become one of the top three economies of the world,” he said.
Citing infrastructure growth, he said metro services were operational in only five cities in 2014 but now span over 1,000 km across 24 cities, making India the third-largest metro network globally. Rail network electrification, he added, rose from 20,000 km in the decades before 2014 to 40,000 km in just over a decade. The number of airports increased from 74 to more than 160, while national waterways expanded from 3 to 30.
He also pointed to export growth, stating that total exports have risen from USD 468 billion before 2014 to USD 824 billion today. Mobile handset exports have placed India among the top five global exporters, with electronics exports increasing from USD 6 billion to USD 38 billion, and automobile exports more than doubling to make India the fourth-largest automobile exporter.
“These achievements give strength to our concept of Atmanirbhar Bharat. We will march together, and build a developed India,” Modi said.
He called for greater self-reliance in technology, urging that Indian products adhere to a “Zero Defect, Zero Effect” standard — flawless in quality and environmentally sustainable. He said Bengaluru and Karnataka should strengthen their role in manufacturing under the ‘Make in India’ mission.
On digital transformation, Modi said India is progressing towards global leadership in artificial intelligence through initiatives like the India AI Mission, while the semiconductor mission is moving forward to deliver “Made in India” chips. He noted India’s reputation for “low-cost hi-tech space missions” and said the country’s advances are reaching villages through digitisation.
“India now accounts for more than 50 per cent of the world’s real-time transactions through UPI,” he stated.
The ceremony was attended by Governor Thaawarchand Gehlot, Chief Minister Siddaramaiah, Union Ministers Manohar Lal, H D Kumaraswamy, Ashwini Vaishnaw, V Somanna, and Shobha Karandlaje.