Gandhinagar, Jan 10 (IANS) At the inaugural day of the Vibrant Gujarat Global Summit 2024 Wednesday, Prime Minister Narendra Modi outlined India's ambitious goal to transform into a developed nation by its centenary year of Independence in 2047, and assured the community to 'dream big as he has the resolve to fulfill those aspirations'.

Addressing the summit in Gandhinagar, PM Modi referred to the next 25 years as 'Amrit Kaal', a critical phase in India's development journey.

"India, having recently completed 75 years of Independence, is now geared towards its next major milestone. We aim to be recognised as a developed country when we mark a century of independence," he said.

The 10th edition of the Vibrant Gujarat Global Summit, initially launched in 2003 during Modi's tenure as Chief Minister, saw participation from over 100 countries, reflecting its global stature and significance in fostering international business and diplomatic relations.

PM Modi emphasized India's rapid economic growth, saying, "A decade ago, India ranked 11th globally in economic size. Today, we stand at the 5th position and are poised to enter the top 3."

He assured the attendees of India's focus on critical sectors such as AI, innovation, green hydrogen, and semiconductors, with visible progress showcased in the trade show. He also highlighted structural reforms undertaken to ensure sustainable growth.

"I assure you, dream big, as I have the resolve to fulfill those aspirations," PM Modi said.

The Prime Minister also acknowledged the significance of UAE President Sheikh Mohammed bin Zayed's participation in the summit.

"The presence of Sheikh Mohammed bin Zayed as the chief guest is not just a matter of honor but also symbolizes the robust and growing ties between India and the UAE," PM Modi remarked.

He credited the UAE for its substantial role in India's development and mentioned the strengthened relationships with African nations during his tenure.