Union Finance Minister Nirmala Sitharaman lauded the rapid economic growth of India under the leadership of Prime Minister Narendra Modi. Speaking at the Vikas Bharat Ambassador Campus Dialogue at the Gandhi Institute of Technology and Management (GITAM) University in Visakhapatnam, Sitharaman credited the Modi government's strong will and visionary leadership for the country's development.

She emphasized India's remarkable progress, noting that the country has jumped from being the 10th largest economy in 2014 during the UPA regime to the 5th largest in 2024 under the current government. Sitharaman highlighted the government's commitment to research funding, with an allocation of approximately Rs 1 lakh crore aimed at boosting research budgets across various fields to drive inclusive growth.

Sitharaman also pointed out that India's improved ranking in the ease of doing business index and the government's efforts to combat corruption and reduce red tape have contributed to India's status as a bright spot in the global economy. She expressed confidence that India will soon become the 3rd largest economy, reflecting the country's trajectory of rapid development and growth.