During his second visit to the Central Asian nation since 2021, Singh attended a cultural programme organised by the Indian diaspora and spoke about India’s economic progress, international standing and policy reforms under the present National Democratic Alliance (NDA) government.
Singh said India remains one of the world’s fastest-growing economies despite adverse global circumstances. Recalling a time when India’s economic prospects were questioned, he said, “There was a time when the world claimed that India’s economy was a lost cause.” He attributed the country’s progress to the strength and determination of its people.
The Defence Minister said India contributes 16 per cent to the global economy while accounting for 18 per cent of the world’s population. He added that India’s standing in the international community had improved under the present NDA government.
“Since our government took office, India’s standing within the international community has grown. Today, when India speaks on the global stage, the world listens with seriousness. India’s economy has seen rapid improvement; it is now among the fastest-growing economies in the world. We contribute 16 per cent to the global economy, while our population accounts for 18 per cent. Despite the challenges arising from conflicts in West Asia, our economy continues to grow at 7.2 per cent,” Singh said.
Contrasting the present economic environment with the period previously described as one of “policy paralysis”, Singh said reforms were now taking place across sectors. He maintained that the government’s approach to economic reforms was guided by conviction rather than compulsion.
Singh said India had signed Free Trade Agreements (FTAs) with about 38 countries, taking into account the uncertainties affecting global trade over the past few years. According to him, these agreements had opened markets in major economies to Indian manufactured products, marking a significant development in the country’s trade history.
Highlighting the progress of the defence manufacturing sector, Singh said India’s defence production had reached ₹1.8 lakh crore and that the country was now manufacturing submarines. He also pointed to the development of a semiconductor ecosystem, saying India was preparing to build both ships and chips.
The Defence Minister said India had more than 2,50,000 startups, with over 45 per cent having a female director or partner. He also stated that 250 million people had been lifted out of poverty over the past decade.
Singh highlighted the expansion of digital payments through the Unified Payments Interface (UPI), describing India as a global hub for real-time digital transactions. He said UPI recorded 23.66 billion transactions worth ₹29.88 lakh crore in August alone, ten years after its inception.
“It has been ten years since the inception of UPI, and it has shattered all previous records,” he said, referring to the scale of transactions recorded through the digital payment system.
Discussing India’s external financial position, Singh said the country’s Current Account Deficit (CAD) had stood at more than 4 per cent of Gross Domestic Product (GDP) around 12 to 13 years ago. He said it had declined to approximately half a per cent last year, specifically 0.61 per cent.
Singh also referred to India’s foreign exchange reserves, stating that they had surpassed $7 billion. He reiterated that the government was pursuing reforms with a clear policy direction and cited changes introduced in the Goods and Services Tax (GST) as part of the reform process.
“In the past, there was talk of policy paralysis, but today, reforms are taking place everywhere. Our foreign exchange reserves have now surpassed $7 billion. We are reforming with a clear policy direction. I do not need to go into great detail regarding the changes we have introduced in the GST. However, I would only like to say that whatever reforms are taking place, all these reforms are not out of compulsion; this is our conviction,” he said.
The Defence Minister also discussed the expansion of mobile connectivity and affordable internet access in India. He said that 12 to 13 years ago, access to mobile phones and the internet was considered a privilege that provided people with information, knowledge and opportunities.
According to Singh, after the NDA government came to power in 2014 under Prime Minister Narendra Modi, particular attention was given to making mobile data affordable.
“Until 12 to 13 years ago in India, there was also a time when access to mobile phones and the internet was in itself considered a position of great power. It was thought that simply having access to mobile and internet was a massive achievement. Whoever had access possessed information, possessed knowledge, and along with that, also had opportunities,” he said.
Explaining the impact of improved affordability, Singh added, “After 2014, when the NDA government was formed in India under the leadership of Prime Minister Modi and we were given the opportunity to serve, India placed a special focus on making mobile data affordable. This means that in India, connectivity didn't just connect people, it also worked to connect opportunities. This miracle has taken place in India.”
Turning to the Indian community in Tajikistan, Singh urged students and workers to exercise the utmost care in their conduct to ensure that India’s credibility remained intact. He said a mismatch between words and actions could undermine trust.
“A gap between one’s words and actions leads to a crisis of credibility,” he said, adding that there had been no complaints against any Indian.
Singh described the Indian diaspora as “India’s cultural ambassadors and an extension of our family”, emphasising the importance of their conduct in maintaining the country’s reputation abroad.
The Defence Minister also said he had addressed diaspora gatherings in 30-35 countries and praised the cultural programme organised in Tajikistan, describing it as “unlike any I have seen”.
His address covered India’s economic growth, trade expansion, defence manufacturing, startup ecosystem, poverty reduction, digital payments and connectivity, while also underscoring the role of the Indian diaspora in upholding the country’s credibility internationally.
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