India is accelerating toward becoming the world’s third-largest economy, Prime Minister Narendra Modi announced during the 16th Rozgar Mela. Speaking about India’s growth journey over the last 11 years, he emphasized that the country has made strides across sectors, especially in manufacturing, electronics, and defense.
One of the key announcements was the introduction of the Employment Linked Incentive Scheme, a program designed to stimulate private sector hiring. Under this new initiative, young professionals securing their first private sector job will receive a government contribution of $180 toward their first salary. The government has allocated about $12 billion to this scheme, which aims to generate around 35 million new jobs across the nation.
Prime Minister Modi also spotlighted India’s manufacturing rise, calling it one of the nation’s strongest assets. He noted that the 2025 Union Budget launched Mission Manufacturing to further strengthen domestic production. The electronics and mobile phone sectors have seen spectacular growth, with electronics output now valued at $132 billion, marking a fivefold increase in just over a decade. Mobile phone production units expanded from just 2-4 plants to over 300 factories today, employing hundreds of thousands of workers.
Defence manufacturing has also reached new heights, particularly after Operation Sindoor. India’s defense production has crossed $15 billion, creating a wave of new employment opportunities and pushing the nation toward greater self-reliance in security technology.
Citing a recent International Labour Organization (ILO) report, PM Modi mentioned that over 900 million people in India have been included in various welfare schemes over the past decade. These schemes do more than provide social support—they fuel employment. For example, under the Pradhan Mantri Awas Yojana, the construction of over 4 million houses has generated massive job opportunities, particularly in rural areas.
PM Modi emphasized that this momentum is a direct result of India’s hard working youth, and that their contributions are propelling the nation closer to economic superpower status.
