Industry body FICCI has welcomed Prime Minister Narendra Modi's firm resolve, expressed in his Independence Day address today, to position India among the top economies of the world.

"The reforms initiated in the last few years, including RERA, IBC and GST, have started yielding results, and there is no doubt that the continuance of the reform mode will usher in a high growth phase going ahead. This will certainly strengthen India's position in the global economy, and help in reaching to the top," said Rashesh Shah, President, FICCI.

Shah added that the Indian economy is already witnessing the signs of economic revival, and the industry is ready to capitalise on it and turn it into 8 per cent plus growth phase in coming years.

"Prime Minister's confidence in India leading the fourth industrial revolution, which will be knowledge-based, is an opportunity for Indian industry to show its real potential. FICCI dedicates itself to this exercise," Shah said.