# Modi Recalls Fragile Five Past, Hails India’s Economic Rise 2026-08-15T08:33:22+00:00 | Politics | Indian Opinion Desk Corroboration: 3 independent outlets Prime Minister Narendra Modi said India had moved from the ‘Fragile Five’ to a major economy over the past 12 years in his Independence Day address from the Red Fort. He said India is now the world’s fastest-growing major economy and had overtaken Japan last year to become the fourth-largest economy, according to Times Now. NDTV reported that Modi also cited a fourfold rise in defence production and sevenfold growth in electronic manufacturing. Morgan Stanley coined ‘Fragile Five’ in 2013 for India, Brazil, Indonesia, South Africa and Turkey, economies seen as vulnerable to foreign capital shifts. India faced high inflation, a large current account deficit, rupee pressure and dependence on overseas funding. The country exited the grouping in 2014 as external balances and foreign exchange reserves improved, with policy measures and Reserve Bank of India action helping stabilise the economy. ## Coverage - timesnownews.com - ndtv.com - livemint.com Tags: India, Japan, Morgan Stanley, Narendra Modi, RBI Canonical: https://indianopinion.org/modi-says-india-has-moved-from-fragile-five-to-major-economy/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/modi-says-india-has-moved-from-fragile-five-to-major-economy/#story-in-brief Review state: restored archive article, accurate at time of publication, not offered to search indexes.