Prime Minister Narendra Modi on Friday said India was emerging as a bright spot for global growth and hope amid rising concerns over economic uncertainty, the weaponisation of resources and growing distrust among nations, highlighting the government’s focus on reforms, infrastructure and long-term development.
Addressing the Economic Times World Leaders Forum 2026, PM Modi said India’s rapid economic progress was being driven by next-generation policy reforms, governance reforms and measures aimed at improving the ease of living.
“Reforms are not a compulsion for us; this is our ultimate commitment and our absolute conviction,” the Prime Minister said.
PM Modi said India had lifted 25 crore people out of poverty and continued to remain the world’s fastest-growing major economy. He highlighted the government’s focus on seven key sectors, including manufacturing, technology and green economics, under the ‘Saptadhara’ framework.
Contrasting the current economic approach with the policies of the Licence Raj era, the Prime Minister referred to what he described as the earlier “Production Linked Punishment” model, under which companies faced restrictions and penalties for exceeding production limits.
He said the government’s Production Linked Incentive (PLI) scheme represented a shift towards encouraging manufacturing and investment. According to PM Modi, the scheme has attracted ₹2.5 lakh crore in investment, generated ₹22 lakh crore in production and sales, contributed ₹15 lakh crore in exports and created more than 14 lakh jobs.
The Prime Minister also highlighted a shift from a “prohibited unless permitted” approach to a “permitted unless prohibited” framework, saying the government was seeking to build greater trust between citizens, businesses and the administration.
He pointed to the decriminalisation of several minor procedural offences through the Jan Vishwas Bill, the removal of more than 40,000 compliances and the repeal of over 1,500 obsolete laws as measures aimed at reducing the regulatory burden on businesses.
PM Modi also cited reforms in areas ranging from rail safety and hygiene to digital services, geospatial data, drones, border infrastructure, defence manufacturing and nuclear energy.
He said the government had installed electronic interlocking systems at more than 6,500 railway stations and 10,000 level crossings, while the elimination of around 9,000 unmanned crossings had contributed to a significant reduction in train accidents. More than 3.6 lakh bio-toilets have also been installed in trains since 2014, he added.
The Prime Minister said the Delhi-Meerut Namo Bharat Rapid Rail and the Delhi Metro were operating with an on-time performance of 99.9 per cent, describing punctuality and efficient public services as important indicators of governance.
Highlighting India’s digital transformation, PM Modi said reforms had made services such as e-KYC, banking, telemedicine and digital payments more accessible. He noted that the e-Sanjeevani platform had facilitated nearly 50 crore tele-consultations, while services such as Digi Yatra and FASTag had helped make travel more seamless.
Emphasising the importance of long-term policymaking, PM Modi said decisions that truly transform the country must address the needs of both the present and the future rather than focus solely on immediate electoral gains.
“Decisions that fundamentally change the country are those whose impact is clearly seen on the ground, taken keeping both the present and the future firmly in mind,” he said.
As examples, the Prime Minister cited the PM-KUSUM Yojana and the PM Surya Ghar Muft Bijli Yojana. He said more than 50 lakh families were associated with the rooftop solar scheme, enabling households to reduce electricity bills and earn additional income by selling surplus power to the grid.
PM Modi said the government would continue to expand reforms aimed at improving the ease of living and ease of doing business for youth, women, farmers and the middle class.
He expressed confidence that a stronger and more secure India would also contribute to greater global stability. “The more stable India is and the more secure its future, the more the power to give the world a sense of security will be generated from right here,” he said.
