India, Aug. 15 -- Prime Minister Narendra Modi, addressing the nation from the ramparts of the Red Fort on the occasion of the 80th Independence Day, said on Saturday that the world had placed India among the "fragile five" economies and that people's efforts had helped the country move from the "fragile five" to a major economy over the past 12 years.

Notably, the term "fragile five" referred to economies that were heavily dependent on risky foreign investment.

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Published by HT Digital Content Services with permission from Hindustan Times....