Addressing the nation on its 77th Independence Day, Prime Minister Narendra Modi on Tuesday said that in the next five years he will ensure India becomes one of the top-3 economies in the world.
Modi said he believed the country will become a developed nation by 2047 during his speech from the Red Fort.
"It's my firm belief that by 2047, India will emerge as a developed country in the world," Modi said.
Modi said: "It's Modi's Guarantee that within the next 5 years, I'll place India in the list of Top-3 economies of the world."
Meanwhile, India will vote to elect a new Lok Sabha in 2024.
Narendra Modi and his NDA government came to power in 2014 after registering a resounding victory in the Lok Sabha polls, removing the Congress-led UPA government that had been ruling the country since 2004.
He said his government has been successful in containing inflation at a time when several countries are struggling with the problem.
"Today, inflation has taken a toll on the economies across the world," he said.
"But notably, India's efforts in the direction of containing inflation have been successful when compared to earlier times," Modi said.