India's Economic Rise: 5th Largest Economy by 2019 - Puri

Houston, Sep 19 (PTI) Petroleum minister Hardeep Singh Puri lauded India's economic growth under Prime Minister Narendra Modi, saying the country has advanced from the 10th largest economy in 2014 to the 5th largest by 2019, surpassing the UK.

Speaking at a community reception, organized by Consul General of India in Houston, D C Manjunath, at India House here, Puri emphasized Houston's pivotal role in the global energy sector, particularly in green hydrogen and aerospace.

Expressing his thoughts about deepening US-India collaboration in the clean energy sector, Puri praised India's refining capacity and initiatives in biofuel blending, aiming to boost refining capacity to 300 million metric tons per annum.

He termed the US-India Strategic Clean Energy Partnership as a cornerstone of future collaboration between the two countries.

He acknowledged the political successes of Prime Minister Modi's party in the recent elections and said the country under Modi's regime has advanced from the 10th largest economy in 2014 to the 5th largest by 2019, surpassing the UK.

The minister also pointed towards the Indian government's ambitious urban development initiatives, saying that the country has committed USD 25 billion (Rs 1.57 lakh crore) to urban schemes from 2017 to 2024.

He compared this investment to constructing a new Chicago each year, illustrating the rapid expansion of urban infrastructure, including new metro systems and airports.

He also noted that India's civil aviation sector is set to grow significantly, with the number of airports increasing from 74 to 150.

Puri lauded Houston as a global hub for energy innovation and said events like "Howdy Modi" in 2019 showcased the strength of Indian-American relations.

The minister paid tribute to the contributions of the Indian diaspora in various fields, particularly in medicine and engineering, while emphasizing the importance of maintaining cultural traditions, even while living abroad.

He expressed gratitude for the warmth and hospitality received from the Indian community in Houston, acknowledging their role in enhancing India's global image.