Prime Minister Narendra Modi explains India's goal of being a $ 5 billion economy in EEF

VLADIVOSTOK: India is committed to becoming a $ 5 billion economy by 2024, Prime Minister Narendra Modi said Thursday at the Eastern Economic Forum (EEF) summit organized by Russian President Vladimir Putin.

Addressing the plenary session of the 5th Eastern Economic Forum here, Modi said that his government with the mantra of sabka saath, sabka vikas aur sabka vishwas is working on the construction of a New India.

He emphasized his government's commitment to convert India into a $ 5 billion economy by 2024 and elaborated some of the steps taken by the country to achieve this goal.

The Prime Minister, in the presence of Russian President Putin, unveiled the Act in the Far East policy to boost India's commitment to the Far East region of Russia.

Let's further deepen the link between India and Russia ... India is proud of the achievements of the Indian diaspora. I am sure that here, in the Russian Far East, the Indian diaspora will also actively contribute to the progress of the region. Modi said.

He appreciates Putin's vision for the well-being of Russia's Far East, and says that the President has opened investment opportunities for India in the region.

EEF is an example of President Putin's great efforts to further develop the Far East region and India will support him in this effort, he said.

In declaring that the development of the Russian Far East is a 'national priority for the 21st century', President Putin has taken a holistic approach to improve everything from economics, education, health to sports, culture or communication, he said.

India announced on Thursday an unprecedented credit line of $ 1 billion for the development of the Far East of Russia with Prime Minister Narendra Modi promising that New Delhi will walk shoulder to shoulder with Moscow in its quest for the development of the resource-rich region .

Modi said that the friendship between India and Russia is not limited to government interactions in the capital cities, but that they are close people and business relationships.