Jakarta, CNN Indonesia —

India is celebrating its 75th Independence Day today, Monday (15/8). India is known to be independent from colonialism English in 1947.

As reported BritishBritain itself had ruled India for 190 years.

During a speech celebrating India’s independence today, Prime Minister Narendra Modi said his country would become a developed country in 25 years.

“We must make India a developed country in 25 years, while we live. This is a great resolution, and we must work to achieve it with all our might,” Modi was quoted in the statement as saying. Reuters.

economic development of india

Today, India is one of the 20 largest economies in the world, also known as the Group of 20.

The progress of the Indian economy is now soaring faster than when India had just gained independence.

As reported CNNthe average life expectancy in India a few years after independence was only 37 years for men and 36 years for women.

Moreover, only 12% of Indian citizens were educated at that time. Meanwhile, India’s gross domestic product (GDP) has reached US$20 billion (294 trillion rupees).

Even so, India has grown to become the country with the largest economy in the world today. The GDP figure of the country is also close to US$3 trillion (44,225 trillion rupees).

The World Bank has even raised India’s status from low-income country to middle-income country. Countries in this classification have a gross national income per capita ranging from USD 1,036 (Rp 15.2 million) to USD 12,535 (Rp 184 million).

Not only that, the number of educated Indians has also increased to 74% for males and 65% for females. Life expectancy in India has also increased, reaching 70 years.

India’s transformation was caused by the “revolutionary reforms” that took place in the 1990s. At that time, Prime Minister PV Narasimha Rao and Finance Minister Manmohan Singh opened India to foreign investment.

This opening was made after India suffered a debt crisis and high inflation.

The openness of investment in India has made the country grow. India is now home to over 100 billionaires.

This number has increased significantly from the millennial era. At that time, there were only nine billionaires in India.

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