Prime Minister Narendra Modi on Wednesday at an event guaranteed to make India the world's third-largest economy with a faster-than-now pace of growth and development in his third term.

The strong pitch was stated by PM Modi while inaugurating the revamped India Trade Promotion Organisation (ITPO) complex at Pragati Maidan, New Delhi. The revamped building has been renamed ‘Bharat Mandapam’.

The statement comes after the opposition alliance INDIA moved a no-confidence motion against BJP in Lok.

Addressing the crowd at the event, PM said the results of the work done this term and the work done by the last term of the government is witnessed by all.

PM Modi said that the people of the country now have full faith that India's development journey won't stop.

He said at his first term, India's economy was in the 10th position but in his second (ongoing) term, India's position is the world’s fifth largest economy.

Modi said, "And on the basis of track record, I will make the country believe, in the third term, Indian economy will be among the world's top three, he said stating "Ye Modi ki guarantee hai"(This is Modi's guarantee).

"I want to assure the people of India that after 2024, in BJP's third term, India's development journey will progress at an even faster pace," PM Modi said.

"During my third term, you will see your dreams come true," he added.

PM Modi also asserted that India can definitely eradicate poverty, he said citing a NITI Aayog report which talked about 13.5 crore poor being lifted out of poverty.

India is currently the 5th largest economy in the world after the US, China, Japan and Germany. It recently surpassed the UK.