PM Modi says, India has a big dream to build a Viksit Bharat or Developed India by 2047, powered by the strength and resolve of 140 crore Indians.

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Prime Minister Narendra Modi on Saturday changed the scale of India’s ambition by setting a target of bringing 50 companies among Fortune 500 companies and an Indian bank among top global banks.In his address to the nation from the ramparts of the Red Fort, PM Modi called for placing an Indian pharma company among the world’s top five, an Indian law or rating agency achieving global leadership, an Indian consulting or accounting firm among the world’s top firms, an Indian technology company among the world’s top companies and brands that the world recognises with enthusiasm when it hears the name India. Making a direct appeal to the industry, he said: “Quality is paramount as it builds trust in Indian products.”Talking about the overall economy, the PM said that India has transformed from ‘Fragile Five’ to the world’s fastest-growing major economy in the last 12 years. After Independence in 1947, the prime minister said, India had big dreams, but progress often fell short of the pace the country aspired to achieve. Today, India is moving ahead with unprecedented speed and confidence, and now, no force can stop the resolve of 140 crore Indians, he added.He further said India has a big dream to build a Viksit Bharat or Developed India by 2047, powered by the strength and resolve of 140 crore Indians. “When the world’s most populous nation sets its sights on becoming a developed country, it sends a powerful message to the world and is reshaping how the world sees India,” he said, adding that any nation becomes great when it achieves its accomplishments.Highlighting the achievements of his government in the past 12 years, PM Modi said that the defence production has increased four times, electronic manufacturing has risen seven times, modern railway coach production has increased 21 times, internet users have increased four times, and digital transactions have expanded 100 times.The PM also said the country is moving towards becoming a major player in the semiconductor sector. India has already begun production at three semiconductor plants, and five to eight more plants are expected to come up in the coming years, the prime minister said.Published on August 15, 2026