Govt has set economic target for next 25 years: PM Modi

SURAT: Prime Minister Narendra Modi -- while underlining government's vision for economic development -- said that the BJP government has set a target for next 25 years and is working towards achieving the set target.

“Whether the aim is to achieve the 5 trillion-dollar economy or 10 trillion-dollar economy, the government has fixed the target for the next 25 years. We are working towards achieving this target,” the PM Modi said on Sunday during his visit to Surat in Gujarat.

He said that the government is committed to bolster India's export industry and propel the country into the top three economies in the world during his third term in office.

On establishing the Surat Diamond Bourse, Modi said that it is the fruit of “Modi’s guarantee.”

“Today Surat is among the top 10 developing cities of the world. Surat’s street food, skill development work, everything is amazing. Surat was once known as Sun City but today the people here, with their hard work, have made it a diamond city,” Modi said.

He also inaugurated two projects - the Surat Diamond Bourse (SBD) and the new terminal of Surat Airport.

The SDB is touted as the world's largest corporate workplace which is set to emerge as the global epicenter for the international diamond and jewelry business.

Situated at Khajod village near Surat city, the SDB is an architectural marvel boasting over 67 lakh square feet of floor area. It is designed to facilitate the global trading of rough and polished diamonds and exquisite jewelry. The facility includes a 'Customs Clearance House' for import and export, a jewelry mall for retail businesses, international banking services, and safe vaults.

Several diamond traders, including those formerly based in Mumbai, have already taken possession of their offices within the SDB premises, which were allotted by the management after a successful auction.

The construction of the SDB, built on 35.54 acres of land for Rs 3400 crore, positions it as a global hub for rough and polished diamond trading, further cementing India's role in the international diamond market.

The Surat Airport's newly integrated terminal building has been constructed for Rs 353 crore. This modern facility is equipped to handle 1,200 domestic and 600 international passengers hourly during peak hours, with the flexibility to expand its capacity to accommodate up to 3,000 passengers.

Modi is scheduled to embark on a two-day visit to his Lok Sabha constituency, Varanasi.