India was fastest fastest-growing economy in world with 6.5% growth; Op Sindoor was a symbol of unity: President Murmu

Mint

2 days ago

New Delhi: In her fourth Independence Day eve address to the nation, President Droupadi Murmu underscored India's economic resilience, defence self-reliance, and unity in the face of global challenges, calling the country the fastest-growing major economy with a GDP growth rate of 6.5% in the last fiscal.
"With a GDP growth rate of 6.5% in the last fiscal, India is the fastest growing among the major economies in the world. Even amid stress in the global economy, demand at home is pacing ahead. Inflation has remained under control. Exports are rising. All key indicators show the economy in the pink of health," President Murmu said.
The President said India's progress in self-reliance in the defence sector had aided Operation Sindoor, India's response to the heinous terrorist attack in Pahalgam in April. Operation Sindoor, as well as the diplomatic visits undertaken by the all-party parliamentary groups in the wake of the conflict, reflected the unity within the country, she said.
"Operation Sindoor showed that our armed forces are prepared to meet any eventuality when it comes to guarding the nation. With strategic clarity and technical capability, they destroyed terrorist hubs across the border," she said.
Operation Sindoor was also a test case of the Atmanirbhar Bharat mission in the defence sector, she said. 'The outcome has proved that we are on the right path. Our indigenous manufacturing has achieved the critical level that makes us self-sufficient in meeting many of our security requirements," she added.
She also noted the progress made in developing crucial infrastructure such as roads and railways, especially in operating railways in the Kashmir valley. India has expanded and strengthened the National Highway network under the Bharatmala programme, which targets building nearly 50,000 km of new national highways in the country.
"The Railways too have innovated, introducing new types of trains and coaches equipped with the latest technologies. The inauguration of the rail link in the Kashmir valley is a major accomplishment," she said.
Murmu also stated that India's growth in digital payment infrastructure and the IT sector had propelled growth. The next stage of growth is Artificial Intelligence, she said.
"Nearly all villages have 4G mobile connectivity, and the remaining few thousand will be covered soon. This has made possible large-scale adoption of digital payment technologies, in which India has become a world leader in a short span," she said.
Murmu said India's increased spending on social sector schemes reflected the government's commitment to uplifting marginalised communities and the poor. She also called on the country's citizens to buy local products to promote 'Swadeshi' and help India become self-reliant. The President noted India's strong position in sports and the space sector.
The President's annual Independence Day eve address came at a time of geoeconomic fragmentation and global trade wars between some of the world's biggest economies. Earlier, US President Donald Trump referred to India as a 'dead economy' in his imposition of sanctions against the world's most populous country for importing Russian oil.
The Chinese export control order on rare earth magnets has impacted crucial sectors such as electronics, automobiles, and renewable energy generation. India is huddling with other nations, including the US, to counter such supply chain disruptions.
The statements also come ahead of Prime Minister Narendra Modi's visit to China for the Shanghai Co-operation Organisation meeting, which starts on 31 August.