Addressing the third Kautilya Economic Conclave in New Delhi, Prime Minister Narendra Modi emphasized the transformational changes shaping India’s economy, aiming to sustain high growth. The conclave, he noted, is being held at a time of significant geopolitical tension, with ongoing conflicts in both Russia-Ukraine and West Asia. These regions, Modi stressed, are crucial for the global economy, particularly in terms of energy security.
Despite this global uncertainty, India’s economic resilience stands out. “Amid this big global uncertainty, we are here discussing ‘The Indian Era’. It shows that today the trust in India is of a different level,” Modi stated. He further asserted that India’s trajectory is guided by the principles of reform, performance, and transformation. “The government is continuously taking decisions and taking the country forward at a fast pace,” he emphasized. This focus on progress, according to the Prime Minister, fosters public trust and fuels confidence in India’s future.
Modi outlined key areas driving India’s economic success, highlighting the country’s strategic investments in critical technologies like AI and semiconductors. “Today, India’s focus is on critical technologies like AI and semiconductors and we are investing a lot in it. Due to the semiconductor mission, 1.5 trillion is being invested here. Soon, India’s 5 semiconductor plants will start exporting Made-in-India chips into the world.” This commitment, he added, is poised to position India as a global leader in the technology sector.
Recognizing India’s strong economic standing, Modi stated, “All the institutions have upgraded their forecasts related to India. All are saying that despite global uncertainty, India will grow at over a 7% rate, but we are confident that we will perform even better than this.” Furthermore, he underscored India’s position as the fastest-growing major economy in the world, boasting the fifth-largest GDP.
The Prime Minister also emphasized the inclusive nature of India’s growth, stating, “India is growth inclusive. 250 million people have been pulled out of poverty.” This commitment to economic upliftment for all segments of society is a hallmark of India’s development strategy.
Looking towards the future, Modi reiterated his vision for a prosperous India, stating, “Jobs, skills, sustainable growth and continuing rapid expansion are the focus of Modi 3.0.” This focus on creating employment opportunities, fostering skills development, and promoting sustainable growth underscores the government’s commitment to a future where economic progress benefits all Indians.
Modi concluded his remarks by highlighting India’s continuous structural reforms, aimed at achieving developed nation status. “India will continue structural reforms to become a developed nation.” He also pointed to India’s impressive rise in the Global Innovation Index, moving from 81st to 39th in less than a decade. This upward trajectory reflects India’s commitment to innovation and its drive to become a global leader in the years to come. “India isn’t only preparing to reach the top but working hard to remain there on the top,” he concluded, expressing unwavering confidence in India’s future success.
