# Modi says India moved from Fragile Five to major economy 2026-08-15T13:03:38+00:00 | Politics | Indian Opinion Desk Corroboration: 1 independent outlet Prime Minister Narendra Modi said in his Independence Day speech that India had moved from the “Fragile Five” group to becoming a major economy over the past 12 years. Morgan Stanley coined the term in 2013 for India, Brazil, Indonesia, South Africa and Turkey, which were seen as vulnerable to external financial shocks. India was included because of high inflation, a widening current account deficit, a weakening rupee and reliance on foreign capital. It left the grouping in 2014 as external balances improved and foreign exchange reserves strengthened. Modi also set a target of a developed India by 2047 and cited increases in defence production, electronics manufacturing, internet users and digital transactions. ## Coverage - hindustantimes.com Tags: Brazil, India, Indonesia, Morgan Stanley, Narendra Modi, South Africa Canonical: https://indianopinion.org/modi-says-india-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-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.