India will become third largest economy soon: PM Modi

'India is creating new records in digital transactions. Due to India's UPI and modern digital public infrastructure, the ease of living of people has improved, and it has become easier for them to send money across countries,' Modi said.

Mumbai: India will soon become the third largest economy, Prime Minister Narendra Modi said on Saturday.

He was speaking after inaugurating INS Towers, the Indian Newspaper Society’s secretariat in Mumbai’s Bandra-Kurla Complex.

Modi also spoke on how India has become the leader in digital payments.

“There was a time when some politicians used to say that digital transactions were not for India. They had a preconceived notion that modern technology can't work in this country,” Modi said.

“However, the world is witnessing the capabilities of the people of the country. Today, India is creating new records in digital transactions. Due to India's UPI and modern digital public infrastructure, the ease of living of people has improved, and it has become easier for them to send money across countries,” he said.

The country will benefit from the effective work done by the Indian Newspaper Society, Modi said.

“Media makes people aware of their strength,” he said. Media’s natural role is to create discourse, he added.

“Before 2014, most people were unaware of the word “startup”, but media made it reach every home,” Modi said.