At $2.6 trillion, the Indian economy is currently ranked sixth in the World behind the US, China, Japan, Germany and the UK.

NEW DELHI: Prime Minister Narendra Modi recently said India is on the way to becoming the fifth largest economy in the world.

Speaking at a Summit, he said India is the world's fastest-growing major economy and the Government is committed to building a ''New India'' with next generation infrastructure.

At $2.6 trillion, the Indian economy is currently ranked sixth in the world behind the US, China, Japan, Germany and the UK.

The Prime Minister listed out some of the Government flagship initiatives like boosting domestic manufacturing through Make in India and digitising the economy through Digital India.

"We are on our way to becoming the fifth largest economy globally...We are one of the top FDI destinations listed by UNCTAD. But, we are not satisfied. On a daily basis, we are making necessary changes and reforms in important sectors of the economy," he said.

PM Modi also informed that India has jumped to the 77th position in the latest edition of World Bank's Ease of Doing Business Report, which is an improvement of 65 places in the last four years.

"We are committed to building a ''New India'' with next generation infrastructure and with emphasis on speed, skill and scale," he said.