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India’s digital economy and the infrastructure sector have a potential of $2.5 trillion: Prime Minister Narendra Modi.

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India's digital economy and the infrastructure sector have a potential of $2.5 trillion: Prime Minister Narendra Modi.

While Addressing the meeting of the BRICS Business Forum, Prime Minister Narendra Modi said on Wednesday that India’s digital economy and the infrastructure sector have a potential of $2.5 trillion.

PM Modi said the digital transformation unfolding in India has never been seen on the world stage. “There are more than 100 unicorns in over 70,000 start-ups in India, and their number continues to grow. There are investment opportunities of $1.5 trillion under our National Infrastructure Pipeline. The value of the Indian digital economy will reach $1 trillion by 2025,” said PM Modi.

“Transformative changes are taking place in every sector in the emerging New India,” said PM Modi presenting opportunities emerging in areas like space, blue economy, green hydrogen, clean energy, drones and geo-spatial data.

China’s president Xi Jinping who hosted the forum as China is the BRICS Chair this year appeared to implicitly criticise NATO and the West over the Ukraine crisis.

“The tragedies of the past tell us that hegemony, group politics and bloc confrontation bring no peace or security; they only lead to wars and conflicts,” he said. “The Ukraine crisis is another wake-up call for all in the world. It reminds us that blind faith in the so-called ‘position of strength’ and attempts to expand military alliances and seek one’s own security at the expense of others will only land oneself in a security dilemma.”

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