‘India positioned to become world’s third-largest economy’

India will soon become the thirdJargest economy in the world, Prime Minister Narendra Modi has said, highlightingmyriad economic opportunities the country offers to companies from Cyprus.

- AGENCIES

Modi, who is in Cyprus on the first le of his three-nation tour, made the remarks as he, along with Cypriot President Nikos Christodoulides, attendeda businessroundtable on Sunday in Limassol, a city on the southern coast of Cyprus.

The Prime Minister highlighted India's rapid economic transformation in the last 11 years and noted that the country, propelled by next-generation reforms, policy predictability, stable polity and Ease of Doing Business, has become the fastest-growing major economy in the world, the External Affairs Ministry in New Delhi said ina statement.

Emphasising the primacy being given to innovation, digital revolution, startups and futuristic infrastructure development, he expressed confidence that India, thefifth largest economy in the world, was well positioned tobecomethethirdlargest inafewyears time.