India will become the growth engine for the world in the coming years, Prime Minister Narendra Modi said on Tuesday.
Speaking at the BRICS Business Forum Leaders' Dialogue in Johannesburg, Modi said the ease of doing business has improved in the country with "mission-mode" reforms being undertaken by his government.
He observed that India has the world's third-largest startup ecosystem and there are over 100 unicorns in the country.
"Investor confidence has increased after the implementation of GST and Insolvency and Bankruptcy code in India. Defence and space sectors have been opened for private players. With the use of technology, we have taken a leap in financial inclusion. Today, UPI is being used by street vendors to shopping malls," the PM said.
"Today among all countries in the world, India is the country with the highest digital transaction," he added.
He said the government is actively taking steps to make India a manufacturing hub in the areas of solar energy, wind energy, electric vehicles and green hydrogen.
The PM further said there is an increased focus on public service delivery and good governance.
Modi is on a visit to South Africa, which is hosting the first in-person summit of BRICS comprising Brazil, Russia, India, China, and South Africa.