PM Modi Inaugurates IECC Complex At Pragati Maidan Modi asserted that India will become the third largest economy in the world with a faster growth rate than now

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Twitter

Prime Minister Narendra Modi on Wednesday inaugurated INR 2700 crore International Exhibition-cum-Convention Centre (IECC) complex along with the redeveloped India Trade Promotion Organisation (ITPO) complex, to host the G20 Leaders' Summit in September at Pragati Maidan in New Delhi.

"Delhi gets a modern and futuristic International Exhibition-cum-Convention Centre, which will boost conference tourism in India, thus bringing people from all over the world. The economic and tourism related benefits of the centre will also be multifold," the Prime Minister tweeted.

The IECC complex has been renamed as Bharat Mandapam. PM Modi unveiled the name of the new complex through a drone in the presence of Union Commerce Minister Piyush Goyal and other ministers.

During the inaugural ceremony, PM said that the "world is accepting that India is the mother of democracy", and the world will witness the rising stature of India when the newly built Bharat Mandapam will host the G20 summit.

Modi also asserted that India will become the third largest economy in the world with a faster growth rate than now. He then slammed people with negative thinking "for trying to stall" development projects in the country.

The redesigned IECC complex has a campus area of around 123 acres and was created as a national project for a cost of INR 2700 crore.

The event witnessed participation from around 3000 people including cabinet ministers, business personalities, celebrities from different fields and so on.

As per the Prime Minister, India was the 10th largest economy when the BJP government took office in 2014. The country is now ranked fifth in the world behind the US, China, Germany and Japan.

"We will make India a developed nation working on the principle of nation first, citizen first," he said

PM Modi said that when his government took office in 2014, the Indian economy was at the tenth position and now it is at the fifth position in the world. He said that India will be one of the top three economies in the world in his third term. The next general elections are due in May 2024.

Earlier in the day, he performed a 'pooja' at the redeveloped complex and interacted with the workers who were involved in its construction and felicitated them.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Business News

AI Is Going to 'Replace Everybody' in Several Fields, According to the 'Godfather of AI.' Here's Who He Says Should Be 'Terrified.'

Geoffrey Hinton, called the "Godfather of AI" due to his pioneering work on AI, says some fields face a heavier risk of replacement due to automation.

News and Trends

Sectors Witnessing Explosive AI Growth in India

India's AI market is booming from recruitment and finance to multilingual agents, collaborative innovation is fuelling the next wave of sectoral growth

News and Trends

Nutrition Startup Nuvie Raises $450K in Pre-Seed Funding Led by PedalStart

The funding round also saw participation from notable investors like Mukesh Bansal, Founder of Myntra, Cult.fit, and Nurix, Ayyappan R, Founder-CEO, FirstClub; ex-CEO, Cleartrip, Chanakya Gupta, Co-Founder, Tuco Kids; ex-SVP, Flipkart, and Arun Sharma, Co-Founder-CPO, Qlub UAE.

News and Trends

Banking Sector Shows Resilience Despite Unsecured Loan Stress: Report

GNPAs surged from 3.8 per cent in FY14 to a peak of 11.2 per cent in FY18, while net NPAs more than doubled from 2.1 per cent to 5.6 per cent over the same period

Business News

Starbucks Is Hiring a 'Global Content Creator' to Travel, Drink Coffee, and Get Paid Six Figures

It's the last week to apply for a coffee and travel "dream job."