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Greater Noida: Union Home Minister Amit Shah lashed out at critics questioning India’s economic performance. He pointed to recent upgrades by global rating agencies and continued GDP growth despite the challenges global economy is facing.
Addressing the UP International Trade Show 2026, home minister said India had maintained its growth momentum while navigating global turbulence. He mentioned a revised growth forecast by Moody’s, an upgrade by Japan’s leading rating agency JCR and India’s 7.8% growth rate in the latest quarter.
"There are some cynical individuals who attempt to discredit India's GDP figures... Moody's has raised India's growth forecast from 6% to 7%. Japan's leading rating agency, JCR, has upgraded India's sovereign rating from BBB+ to A-, and in the last quarter, India maintained its strong momentum by achieving a growth rate of 7.8%," Shah said.
He said India had not merely sustained its economic trajectory but accelerated it despite global difficulties. Shah also reiterated the government's long-term ambition of making India the world's leading economy by the 100th year of its independence.
"Despite global turmoil, unrest, and numerous hurdles, India has not only sustained its growth rate but accelerated it. I can state with full confidence before the world that we will realise the resolve PM Modi has shared with the people of India, that by August 15, 2047, India will be number one globally across all sectors," he said.
Shah also responded sharply to critics who have described the Indian economy as "dead", arguing that such criticism failed to recognise the country's economic activity and expansion.
"Yet, some people perceive this as a 'dead economy.' I tell them: those whose own mindset is 'dead' cannot see vibrancy; all they see around them is lifelessness."
He further pointed to India's growing network of Free Trade Agreements, saying these deals were strengthening opportunities for domestic industries and supporting exports.
"Those with a jaundiced view cannot bear to see India's progress. Under PM Modi's leadership, we have signed Free Trade Agreements (FTAs) with many countries... these agreements have exponentially boosted our industries' export potential, and we have sustained our growth despite facing various adversities."
Shah also highlighted investment flowing into the Uttar Pradesh Defence Industrial Corridor, saying manufacturing activity was expanding across all six designated nodes.
"Investments for manufacturing defence equipment are flowing into all six nodes of the Defence Corridor - Jhansi, Chitrakoot, Lucknow, Agra, Aligarh, and Kanpur. This has fostered the development of defence products not just in Uttar Pradesh, but across the entire country."
He cited developments in indigenous defence manufacturing to underline Uttar Pradesh's growing role in India's defence production ecosystem.
Shah specifically referred to the production of BrahMos missiles in Uttar Pradesh and AK-203 assault rifles in Amethi as examples of India's expanding domestic defence manufacturing capabilities.
"Today, the BrahMos missiles manufactured in UP give Pakistan sleepless nights; this is a prime indicator of the transformation taking place. Similarly, the AK-203 assault rifles made in Amethi are giving sleepless nights to Naxalites and terrorists alike."
