New Delhi [India], August 15 : India has witnessed an unprecedented expansion of modern infrastructure across highways, waterways, railways, and airways, creating opportunities for new businesses, generating employment, and strengthening investor confidence, President Droupadi Murmu said in her address on the eve of Independence Day.
Highlighting infrastructure development as a key driver of economic activity, the President said, "Our country has seen an unprecedented expansion of modern infrastructure in the form of highways, waterways, railways, and airways."
"This is creating opportunities for new enterprises, generating employment, and boosting investor confidence," she added.
The President also highlighted India's expanding digital infrastructure and the growing adoption of digital payments across the country, including in rural areas and among small businesses.
"India has developed the world's largest and best digital infrastructure. Digital payments are now common even in small rural shops and among street vendors," Murmu said.
She said more than half of the world's real-time digital transactions now take place in India, pointing to the scale of the country's digital payments ecosystem.
"Together, the people of India and the Government have presented an example of digital revolution to the global community," the President said.
She also highlighted the use of technology in delivering government welfare benefits, saying it has helped improve transparency in the implementation of schemes.
On the broader economic outlook, President Murmu said the Indian economy continues to expand at a strong pace despite geopolitical instability and conflicts affecting economies across the world.
"Warfare and instability prevailing in several parts of the world are affecting every country. Even in such trying circumstances, our economy is moving ahead as the fastest-growing major economy in the world," she said.
According to economic projections, India's growth rate is expected to be more than twice the average global growth rate, the President said.
She also linked India's economic progress with the government's push for self-reliance, saying, "'Atmanirbhar Bharat Abhiyan' has further strengthened the foundation of our economic progress and national security."
The President also pointed to the expansion of renewable energy as another part of India's infrastructure and development push.
"Over the past few years, the development of renewable energy has gained unprecedented momentum," she said, adding that India has achieved some of the Sustainable Development Goals for 2030 ahead of schedule.