PM Modi Says IMF Calls India ‘Engine of Global Growth’ at Vibrant Gujarat Summit 2026
Prime Minister Narendra Modi on Sunday said that the International Monetary Fund (IMF) now recognises India as the “engine of global growth”, highlighting the country’s rising global stature and economic strength.
Addressing the Vibrant Gujarat Regional Conference for Kutch and Saurashtra in Rajkot, the Prime Minister said that every major global institution is bullish on India’s future. He noted that Standard & Poor’s upgraded India’s rating after 18 years, while Fitch Ratings praised the country’s macroeconomic stability and fiscal credibility.
“India is moving rapidly towards becoming the world’s third-largest economy,” the Prime Minister said, adding that global expectations from India continue to rise.
He said India remains the fastest-growing large economy, inflation is under control, and agricultural production has reached record levels. India is now the world’s largest producer of milk and generic medicines and the leading manufacturer of vaccines.
Highlighting technological and economic transformation, PM Modi said India has become the world’s largest consumer of mobile data, while UPI has emerged as the number-one real-time digital payments platform globally. He recalled that once nine out of ten mobile phones were imported, but today India is the second-largest mobile phone manufacturer in the world.
He added that India now has the world’s third-largest startup ecosystem, ranks among the top three in solar power generation, is the third-largest aviation market, and operates one of the largest metro networks globally.
The Prime Minister said global trust in India exists because the country is witnessing an unprecedented era of political stability, policy continuity and economic certainty, supported by a rapidly expanding middle class with increasing purchasing power.
Calling Saurashtra and Kutch the new anchors of India’s growth story, PM Modi said these regions are driving the Atmanirbhar Bharat campaign and positioning India as a global manufacturing hub. He highlighted that Rajkot alone hosts over 2.5 lakh MSMEs, producing everything from basic tools to aircraft and rocket components.
He also pointed to Alang, the world’s largest ship-breaking yard, and Morbi, one of the world’s largest ceramic manufacturing hubs, as examples of Gujarat’s industrial strength. The Prime Minister said the Dholera Special Investment Region is emerging as a major manufacturing centre, hosting India’s first semiconductor fabrication plant.
On green growth, he said a 30-gigawatt renewable energy park is being developed in Kutch — the world’s largest hybrid energy project — while Jamnagar and Kutch are becoming hubs for green hydrogen and battery storage.
The Prime Minister also highlighted Gujarat’s strong port infrastructure, noting that nearly 1.75 lakh vehicles were exported through Gujarat’s ports last year, and said the state offers unmatched opportunities in logistics, fisheries, tourism, education and skill development.
He assured investors that India’s “Reform Express” will continue, citing next-generation GST reforms, 100 percent FDI in insurance, modernised income tax laws, historic labour reforms and new nuclear power policies as foundations for long-term growth.
At the event, PM Modi announced 14 new greenfield GIDC industrial estates and inaugurated the GIDC medical device park in Rajkot.
Leading industrialists including Mukesh Ambani, Karan Adani, B K Goenka, and representatives from global partners Rwanda and Ukraine praised the Prime Minister’s leadership and announced major investment commitments in manufacturing, clean energy, infrastructure, data centres, healthcare and education.
The Vibrant Gujarat Regional Conference for Kutch and Saurashtra is being held from January 11–12, 2026, covering 12 districts and focusing on sectors such as engineering, ports, fisheries, petrochemicals, green energy, MSMEs, tourism, culture and startups. Japan, South Korea, Rwanda and Ukraine are partner countries.
The achievements of the regional conferences will be showcased at the Vibrant Gujarat Global Summit 2027.