India, with its resilience and energy, stands as a beacon of hope for the world: PM
Our Authorities is infusing new vitality into India’s house sector: PM
We’re shifting forward with the aim of a quantum soar, not simply incremental change: PM
For us, reforms are neither a compulsion nor crisis-driven, however a matter of dedication and conviction: PM
It isn’t in my nature to be glad with what has already been achieved. The identical method guides our reforms: PM
A serious reform is underway in GST, set to be accomplished by this Diwali, making GST less complicated and bringing down costs: PM
A Viksit Bharat rests on the inspiration of an Aatmanirbhar Bharat: PM
‘One Nation, One Subscription’ has simplified entry to world-class analysis journals for college students: PM
Guided by the mantra of Reform, Carry out, Rework, India at present is able to assist raise the world out of sluggish progress: PM
Bharat carries the energy to even bend the course of time: PM
The Prime Minister Shri Narendra Modi addressed the Financial Occasions World Leaders Discussion board in New Delhi at present. On the event, Prime Minister welcomed all distinguished visitors attending the World Chief Discussion board. Remarking that the timing of this discussion board is “very excellent”, Shri Modi appreciated the organizers for this well timed initiative. He highlighted that simply final week, he spoke from the Purple Fort about next-generation reforms and added that this discussion board is now appearing as a power multiplier for that very spirit.
Stating that intensive discussions have taken place on the discussion board on world circumstances and geo-economics, the Prime Minister emphasised that when seen within the world context, one can sense the energy of India’s economic system. He highlighted that India is presently the fastest-growing main economic system on the planet and shortly, India is poised to change into the third-largest economic system globally. Shri Modi cited knowledgeable assessments indicating that India’s contribution to world progress is anticipated to achieve almost 20 p.c within the close to future. He attributed India’s progress and financial resilience to the macro-economic stability achieved over the previous decade. The Prime Minister shared that India’s fiscal deficit is estimated to say no to 4.4 p.c, regardless of the extreme challenges posed by the COVID-19 pandemic. He added that Indian corporations are elevating file funds from capital markets, whereas Indian banks are stronger than ever earlier than and the inflation could be very low and rates of interest are additionally low. Underlining that India’s present account deficit is beneath management and foreign exchange reserves are sturdy, Shri Modi additional highlighted that each month, lakhs of home buyers are investing hundreds of crores of rupees into the market by means of Systematic Funding Plans (SIPs).
The Prime Minister emphasised that when the basics of an economic system are sturdy, its basis is stable, then the influence is seen throughout all sectors. He recalled that he had mentioned this intimately throughout his handle on fifteenth August, and whereas he wouldn’t repeat these factors, he harassed that the developments round and after Independence Day exemplify India’s progress story. Shri Modi additionally highlighted that the newest knowledge exhibits 22 lakh formal jobs had been added to the EPFO database within the month of June 2025 alone—marking the best ever for any single month. He famous that India’s retail inflation is at its lowest degree since 2017, including that India’s overseas alternate reserves have reached an all-time excessive. The Prime Minister shared that in 2014, India’s Photo voltaic PV Module Manufacturing Capability was roughly 2.5 GW, and the newest figures present that this capability has now reached the historic milestone of 100 GW. He additional acknowledged that Delhi Airport has joined the elite Hundred-Million-Plus Membership of worldwide airports with its annual passenger dealing with capability now exceeds 100 million, putting it amongst solely six airports worldwide on this unique group.
Underlining {that a} latest growth has drawn vital consideration—S&P World Scores has upgraded India’s credit standing, the Prime Minister emphasised that such an improve has occurred after almost twenty years. “India, by means of its resilience and energy, continues to be a supply of worldwide confidence”, mentioned Shri Modi.
Referring to a generally used phrase—“Lacking the Bus”—as an example how alternatives, if not seized, can move by, Shri Modi remarked that earlier governments in India missed a number of such buses of alternative within the fields of expertise and trade. Including that he was not current to criticize anybody, Shri Modi emphasised that nevertheless in a democracy, comparative evaluation typically helps make clear the state of affairs extra successfully.
Prime Minister acknowledged that earlier governments stored the nation entangled in vote-bank politics and lacked the imaginative and prescient to suppose past elections. He remarked that these governments believed that growing cutting-edge expertise was the area of superior nations, and that India may merely import it when wanted. Emphasising that this mindset triggered India to lag behind many nations for years, repeatedly lacking crucial alternatives—lacking the bus, Shri Modi cited the communication sector for example, noting that when the web period started globally, the federal government on the time was indecisive. He added that throughout the 2G period, the occasions that unfolded are well-known to all, and India missed that bus too. He highlighted that India remained depending on overseas nations for 2G, 3G, and 4G applied sciences. The Prime Minister questioned how lengthy such a state of affairs may proceed. He acknowledged that post-2014, India modified its method and resolved to not miss any extra buses, however as an alternative to take the driving seat and transfer ahead. Asserting that India developed its complete 5G stack domestically, Shri Modi affirmed that India not solely constructed Made-in-India 5G but in addition deployed it throughout the nation on the quickest tempo. “India is now quickly engaged on Made-in-India 6G expertise”, acknowledged the PM.
Mentioning that India may have begun semiconductor manufacturing 50–60 years in the past, Shri Modi remarked that India missed that bus as nicely, and continued to take action for a few years. He affirmed that this case has now modified and semiconductor-related factories have began arising in India. He additional acknowledged that by the top of this yr, the primary Made-in-India chip will probably be out there out there.
Extending greetings to all on the event of Nationwide Area Day and addressing developments in India’s house sector, the Prime Minister acknowledged that previous to 2014, India’s house missions had been restricted in quantity and scope. He emphasised that within the twenty first century, when each main nation is exploring house alternatives, India couldn’t afford to lag behind. Shri Modi highlighted that reforms had been launched within the house sector and it was opened to non-public sector participation. He shared that from 1979 to 2014, India performed solely forty-two house missions over thirty-five years. He famous with pleasure that within the final eleven years, India has accomplished greater than sixty missions. The Prime Minister acknowledged that many extra missions are lined up within the coming interval. He introduced that India has achieved house docking functionality this yr, calling it a significant milestone for future missions. He additional acknowledged that India is making ready to ship its astronauts to house beneath the Gaganyaan Mission, acknowledging that Group Captain Shubanshu Shukla’s expertise will probably be of nice help on this endeavor.
“To infuse new vitality into the house sector, it was important to free it from all constraints”, acknowledged Shri Modi highlighting that for the primary time, clear guidelines had been established for personal participation within the house area. The Prime Minister remarked that spectrum allocation was made clear for the primary time whereas overseas funding within the house sector was liberalized for the primary time. He additional introduced that this yr’s price range features a ₹1,000 crore Enterprise Capital Fund devoted to house startups.
“India’s house sector is now witnessing the success of the reforms undertaken. In 2014, India had just one house start-up, whereas at present there are over 300”, acknowledged the Prime Minister affirming that the day isn’t far when India could have its personal house station in orbit.
“India isn’t aiming for incremental change, however is shifting ahead with the aim of reaching quantum jumps”, emphasised the Prime Minister stressing that reforms in India are neither pushed by compulsion nor by disaster. He affirmed that reforms are a mirrored image of India’s dedication and conviction. Underlining that the federal government adopts a holistic method by conducting in-depth evaluations of particular person sectors, Shri Modi added that reforms are then carried out one after the other inside these sectors.
Mentioning that the lately concluded Monsoon Session of Parliament displays the continuity of reforms, the Prime Minister emphasised that regardless of quite a few disruptions by the opposition, the federal government remained totally dedicated to advancing reforms. He highlighted the Jan Vishwas 2.0 initiative as a significant reform linked to trust-based and pro-people governance, recalling that beneath the primary version of Jan Vishwas, round 200 minor offences had been decriminalized. He additional introduced that within the second version, over 300 minor offences have now been decriminalized. Shri Modi additional acknowledged that the Earnings Tax legislation, which had remained unchanged for 60 years, has additionally been reformed on this session, noting that the legislation has now been simplified considerably. Stating that earlier, the language of the legislation was such that solely attorneys or chartered accountants may perceive it correctly, Shri Modi mentioned, “Now, the Earnings Tax Invoice has been drafted in a language accessible to the frequent taxpayer. This displays the federal government’s deep sensitivity in direction of the pursuits of residents.”
Speaking concerning the latest Monsoon Session by which vital amendments had been made to legal guidelines associated to mining, Shri Modi highlighted that legal guidelines governing delivery and ports—relationship again to the colonial period—had been additionally revised. He emphasised that these reforms will strengthen India’s blue economic system and promote port-led growth. The Prime Minister additional famous that new reforms have been launched within the sports activities sector as nicely. He acknowledged that India is being ready to host main worldwide occasions and {that a} complete sports activities economic system ecosystem is being developed. He introduced that the federal government has launched a brand new Nationwide Sports activities Coverage—Khelo Bharat Niti—to assist this imaginative and prescient.
“It isn’t in my nature to be glad with targets already achieved. Identical method applies to reforms, and the federal government is decided to maneuver additional forward”, exclaimed the Prime Minister, highlighting {that a} complete arsenal of reforms is being ready. He knowledgeable that work is underway on a number of fronts to advance this agenda. The Prime Minister outlined key actions being taken just like the Repealing of the Pointless legal guidelines, Simplification of the Guidelines and procedures. He additional added that procedures and approvals had been being digitized, whereas a number of provisions had been being decriminalized. “A serious reform is being undertaken within the GST framework and this course of will probably be accomplished by Diwali”, introduced Shri Modi affirming that the GST system will change into less complicated and costs will come down.
The Prime Minister acknowledged that this arsenal of next-generation reforms will result in a rise in manufacturing throughout India. He remarked that market demand will rise and industries will achieve new vitality. Shri Modi highlighted that new employment alternatives will probably be created, affirming that each Ease of Residing and Ease of Doing Enterprise will enhance because of these reforms.
Underscoring that India is totally dedicated to changing into a developed nation by 2047, the Prime Minister remarked that the inspiration of a developed India is a self-reliant India. He emphasised that Atmanirbhar Bharat should be assessed on three key parameters: velocity, scale, and scope. Recalling that throughout the world pandemic, India demonstrated all three—velocity, scale, and scope, Shri Modi famous how there was a sudden surge in demand for important objects, whereas world provide chains got here to a standstill. He acknowledged that India took decisive steps to fabricate important items domestically. The Prime Minister highlighted that India quickly produced giant portions of testing kits and ventilators, and put in oxygen vegetation in hospitals throughout the nation—demonstrating India’s velocity. He added that over 220 crore Made-in-India vaccines had been administered freed from value to residents throughout each nook of the nation—showcasing India’s scale. Shri Modi additional remarked that to vaccinate thousands and thousands swiftly, India developed the CoWIN platform, which mirrored India’s scope. He affirmed that CoWIN was a globally distinctive system that enabled India to finish its vaccination drive in file time.
Emphasising that the world is witnessing India’s velocity, scale, and scope within the vitality sector, Shri Modi underlined that India had set a goal to generate 50 p.c of its whole energy capability from non-fossil fuels by 2030. He introduced that this goal has already been achieved in 2025—5 years forward of schedule.
Noting that earlier insurance policies had been closely targeted on imports, pushed by vested pursuits, the Prime Minister emphasised that at present, a self-reliant India is setting new data in exports. He knowledgeable that previously yr, India exported agricultural merchandise value ₹4 lakh crore. Shri Modi talked about that out of the 800 crore vaccine doses produced globally within the final yr, 400 crore had been manufactured in India. He additionally famous that in six and a half a long time since independence, India’s electronics exports had reached round ₹35,000 crore, whereas at present, this determine has risen to roughly ₹3.25 lakh crore.
Stating that till 2014, India’s car exports stood at roughly ₹50,000 crore yearly, Shri Modi highlighted that at present, India exports vehicles value ₹1.2 lakh crore in a single yr. He remarked that India has now begun exporting metro coaches, rail coaches, and rail locomotives. The Prime Minister additionally shared that India is ready to realize one other milestone by exporting electrical autos to 100 nations. He introduced {that a} main occasion associated to this achievement will happen on 26 August.
Underscoring that analysis is a significant pillar of the nation’s progress, the Prime Minister remarked that whereas imported analysis could suffice for survival, it can’t fulfill India’s aspirations. He emphasised the necessity for urgency and a targeted mindset within the subject of analysis. He highlighted that the federal government has labored swiftly to advertise analysis and has repeatedly developed the mandatory insurance policies and platforms. Shri Modi knowledgeable that expenditure on analysis and growth has greater than doubled in comparison with 2014 whereas the variety of patents filed has elevated 17 occasions since 2014. The Prime Minister introduced that analysis and growth cells have been established in roughly 6,000 greater training establishments. He famous that the ‘One Nation, One Subscription’ initiative has made world analysis journals extra accessible to college students. Shri Modi additional added {that a} Nationwide Analysis Basis has been created with a price range of ₹50,000 crore and a Analysis Improvement and Innovation Scheme value ₹1 lakh crore has additionally been permitted. He affirmed that the target is to assist new analysis within the personal sector, particularly in dawn and strategic sectors.
Acknowledging the presence of main trade figures on the summit, Shri Modi acknowledged that the present occasions demand lively participation from trade and the personal sector. He emphasised the necessity for elevated analysis and funding, significantly in sectors reminiscent of Clear Power, Quantum Know-how, Battery Storage, Superior Supplies, and Biotechnology. “Such efforts will infuse new vitality into the imaginative and prescient of a developed India”, harassed the PM.
“India, guided by the mantra of Reform, Carry out, and Rework, is now able to assist the world break away from the grip of sluggish progress”, mentioned the Prime Minister. He remarked that India isn’t a nation that enjoys throwing pebbles into stagnant waters, however one which has the energy to redirect fast-flowing currents. The Prime Minister concluded by recalling his handle from the Purple Fort, reaffirming that India now carries the aptitude to reshape even the course of time.
