PM Modi at ET Now Global Business Summit: India rides the ‘reform express’, a decade of development and strengthening democracy

Prime Minister Narendra Modi has said that despite major challenges like the global pandemic, international tensions, war and supply chains, this decade has been one of unprecedented growth, effective execution and strengthening of democracy for India. Addressing the ET Now Global Business Summit in New Delhi, he said that in the last ten years, India has scaled new heights even in difficult circumstances.

The Prime Minister said that in this decade of the 21st century, India is riding the “Reform Express.” A decade ago, India was the 11th largest economy in the world and today is rapidly progressing towards becoming the third largest. He emphasized that the government has made the budget not just expenditure-focused, but results-focused.

Referring to the major reforms undertaken outside the budget, PM Modi said that steps like new GST rates, NITI Aayog in place of Planning Commission, abrogation of Article 370, law against triple talaq and Nari Shakti Vandan Act gave a new direction to the country. He said that in the last one year, decisions like port and maritime sector reforms, promotion of shipbuilding, Public Trust Act, energy security, labor law reforms, Indian Judicial Code, Waqf Act amendment and new bills to increase rural employment were taken.

The Prime Minister said that in the last decade, technology and innovation have been made the foundation of development. Today, India is confidently entering into trade agreements with the world and is ready for global competition.

Describing India’s digital payment system, UPI, as a reform with global impact, he said it’s not just an app, but an example of the convergence of policy, process, and implementation. Digital India and the Jan Dhan-Aadhaar-Mobile (JAM) model emerged not from compulsion, but from a resolve for inclusive development.

Finally, the Prime Minister said that the world must be prepared to adapt to changing circumstances. The changes brought by artificial intelligence will be even more revolutionary—and India is fully prepared for them.