President Droupadi Murmu called India the fastest-growing major economy with a GDP growth rate of 6.5 percent in the most recent fiscal year, highlighting the country's economic resilience, defense self-reliance, and unity in the face of global challenges in her fourth Independence Day eve address to the nation.  

The President said that Operation Sindoor, India's response to the horrific terrorist attack in Pahalgam in April, had benefited from the country's advancements in self-reliance in the defense industry.  

"With a GDP growth rate of 6.5% in the last fiscal, India is the fastest growing among the major economies in the world. Even amid stress in the global economy, demand at home is pacing ahead. Inflation has remained under control. Exports are rising. All key indicators show the economy in the pink of health," President Murmu said.

She claimed that the country's unity was demonstrated by Operation Sindoor and the diplomatic missions made by the all-party parliamentary groups following the conflict.

"Operation Sindoor showed that our armed forces are prepared to meet any eventuality when it comes to guarding the nation. With strategic clarity and technical capability, they destroyed terrorist hubs across the border," she says.

According to her, Operation Sindoor served as a test run for the defense sector's Atmanirbhar Bharat initiative.  

She also mentioned the advancements made in the construction of vital infrastructure, including roads and railroads, particularly in the area of running railways in the Kashmir valley.  Under the Bharatmala program, which aims to construct about 50,000 km of new national highways nationwide, India has improved and extended its network of national highways.

"The Railways too have innovated, introducing new types of trains and coaches equipped with the latest technologies. The inauguration of the rail link in the Kashmir valley is a major accomplishment," she says.

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Murmu added that the expansion of India's IT industry and digital payment infrastructure had fueled growth.  "Artificial intelligence is the next stage of growth," she stated.  

According to Murmu, India's increased investment in social sector programs demonstrated the government's dedication to helping the impoverished and marginalized populations.  She also urged the populace to support 'Swadeshi' and contribute to India's independence by purchasing domestic goods.  The President praised India's dominance in the space and sports industries.

 

At a time when several of the largest economies in the world were engaged in global trade wars and geoeconomic fragmentation, the President gave his yearly Independence Day eve address.  Prior to imposing sanctions on the world's most populous nation for consuming Russian energy, US President Donald Trump called India a "dead economy."

 

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Key industries like electronics, autos, and renewable energy production have been disrupted by China's export control order on rare earth magnets.  To combat these supply chain interruptions, India is collaborating with other countries, including the US.  The remarks are also made in advance of Prime Minister Narendra Modi's August 31 arrival in China for the Shanghai Co-operation Organization conference.