India is currently the fifth-largest economy in the world, a global leader in fintech innovation, and boasts the third-largest startup ecosystem.
For the first time in 43 years, Prime Minister Narendra Modi’s visit to Kuwait and his address at the “Hala Modi” event painted the picture of solidifying India-Kuwait relations and India’s growing role on the global stage. PM Modi emphasized India’s potential to be the “growth engine of the world,” driven by its robust economy, large consumer base, and innovative capabilities.
Prime Minister Modi highlighted the potential for collaboration between Indian startups and Kuwait, focusing on fintech, healthcare, smart cities, and green technology. He showcased India’s ability to fulfil global skill demands and its aspiration to become the “skill capital of the world.” India is currently the fifth-largest economy in the world, a global leader in fintech innovation, and boasts the third-largest startup ecosystem. He also noted that India has become the second-largest mobile manufacturing country globally.
India is home to the third-largest startup ecosystem in the world, driven by a culture of innovation and entrepreneurship. With government initiatives such as “Startup India” and a burgeoning pool of tech-savvy youth, Indian startups have made significant contributions in diverse fields, including AI, health tech, and green energy.
Moreover, its rise as the second-largest mobile manufacturing country underscores its success in developing a robust electronics manufacturing sector. Initiatives like the “Make in India” program and production-linked incentives have attracted global giants to establish manufacturing facilities in India, boosting local employment and exports.
Modi extended an invitation to the Indian community to participate in upcoming events in India, including the Pravasi Bharatiya Divas in January 2025, designed to deepen engagement with Indians living abroad. PM Modi further highlighted India’s remarkable progress in technology and infrastructure, noting that in the past decade, India has laid optical fibre spanning a distance equivalent to eight times the distance between the Earth and the Moon.
