Prime Minister Narendra Modi, speaking at the ET World Leaders Forum 2025, highlighted India’s role as one of the fastest-growing economies in the world. He emphasized that India has the potential to drive global growth amidst slowing international markets, stressing the government’s commitment to the mantra of “Reform, Perform, Transform.”
Key Economic Reforms
PM Modi announced several crucial reforms designed to simplify governance and strengthen economic fundamentals. A new Income Tax Bill, introduced after 60 years, has been drafted in simple language to benefit the common man. He also confirmed that GST simplification measures will be completed by Diwali, aimed at reducing prices, boosting demand, and making business operations easier.
Additionally, the passage of Jan Vishwas Bill 2.0 during the Monsoon Session underlined the government’s focus on trust-based governance and pro-people reforms, despite disruptions in Parliament.
Strong Fundamentals and Global Contribution
PM Modi said India’s economic fundamentals remain robust, with low inflation, controlled current account deficit (CAD), strong forex reserves, and resilient banks. He cited experts’ estimates that India will contribute 20% to global growth.
He further noted positive job growth, with over 24 lakh formal jobs added in June through the EPFO, and record SIP investments by domestic investors. Retail inflation is reportedly at its lowest since 2017, and forex reserves are at an all-time high.
Focus on Technology and Future Growth
PM Modi reiterated his Independence Day promise that India’s first Made-in-India semiconductor chip would be launched by year-end, positioning the country as a global technology hub. He also emphasized building India into a sports economy and advancing the vision of Viksit Bharat 2047 through self-reliance.
Highlighting research and innovation, the Prime Minister urged the private sector to invest in quantum technology, biotechnology, clean energy, and battery storage. He stressed that these areas will define the future of India’s sustainable growth.
A Message of Confidence
PM Modi’s address was both aspirational and pragmatic, reassuring global leaders of India’s readiness to fuel worldwide growth. By focusing on reforms, stability, and innovation, he positioned India as a beacon of resilience and opportunity at a time when the global economy faces uncertainty.
