India has demography, democracy, and diversity and the confluence of these three empowers the country to fulfil all its dreams, Prime Minister Narendra Modi said on Tuesday.

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Addressing the nation on its 77th Independence Day, Modi said India is the world's largest democracy and from the population perspective it is now widely acknowledged that the country is in the first position.

Modi said India has the highest population of people under 30 years and through the power of youth, the country can achieve all its goals.

"While in many countries the population is ageing, in India, we are moving forward with youthful energy," he said from the ramparts of the Red Fort.

"With young minds below the age of 30 years and by possessing countless arms to work, boundless intellects to innovate, and innumerable dreams and aspirations, we can achieve all our goals," the prime minister said.

According to United Nations estimates, India has become the most populous country in the world with over 142 crore people. However, the government is yet to conduct a census for an official figure.