India is on the way to becoming the fifth largest economy in the world, Prime Minister Narendra Modi said on Friday. He was addressing the India-South Africa Business Forum organised jointly by Indian industry chambers CII, Ficci and Assocham in the presence of visiting South African President Cyril Ramaphosa.
Modi also noted that India had risen to 77th place in the World Bank’s latest Ease of Doing Business rankings and is currently among the most attractive destinations for foreign direct investment (FDI) according to UNCTAD. “We are on way to becoming the 5th largest economy globally and have jumped to 77th position in the World Bank’s Ease of Doing Business rankings,” he said.
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