The Times Group ET NOW Global Business Summit 2024

At The Times Group ET NOW Global Business Summit 2025,Prime Minister Narendra Modi delivered a powerful address outlining India’s dynamic progress and future trajectory. Reflecting on the country’s growth through reforms, Modi reaffirmed his vision of a rapidly advancing India positioned for global leadership.

India’s transformational reforms and global momentum

Last year, in his address at The Times Group ET NOW Global Business Summit 2024, Modi had promised that India, in his third term, would operate at a new, enhanced speed. “I am glad it is happening today,” Modi declared, ensuring that the country is already accelerating towards a future of unprecedented growth.

He noted the recent endorsements from Odisha, Haryana, and Delhi in support of the “Viksit Bharat” agenda, highlighting the overwhelming support from citizens across the nation. This momentum, he explained, reflects a renewed global trust in India’s capacity to lead the global agenda.

“We are in a revolution of reforms,” Modi said. “In this decade, we are in the top 5 economies globally. I assure you, in the next few years, you will see India as the 3rd largest economy.” Modi clarified that the country’s reforms are driven by conviction rather than necessity—an approach that ensures large-scale changes will continue.

One such significant reform is the implementation of the Bharatiya Nyaya Sanhita 2023, which has made substantial strides in expediting the legal process. “There have been instances where verdicts were delivered within a minimal timeframe, reinforcing strong trust in the Indian legal system,” Modi remarked. Another landmark reform, Svamitva Yojana, aims to offer a comprehensive property validation solution for rural India. Through this initiative, rural property values have surged, unlocking ₹100 trillion in value, marking a major achievement in rural empowerment.

Building a future through financial inclusion and infrastructure

Modi then drew attention to the transformation in credit accessibility. “India was once a country where access to credit was a major challenge,” he noted, but now, “Our government has transformed this landscape by banking the unbanked, securing the unsecured, and funding the unfunded.” The Pradhan Mantri Mudra Yojana (PMMY) has revolutionised financial inclusion by offering collateral-free loans, empowering small businesses and women entrepreneurs who had previously been excluded from financial systems.

“In the past decade, we have transformed fear of business into ease of business,” Modi said. Such progress is shaped by significant improvements in infrastructure, which have reduced logistics costs and increased efficiency. He also highlighted Jan Vishwas 2.0, which simplifies compliance regulations, making it easier for businesses to thrive.

The government’s proactive approach to harnessing Industry 4.0 was also a key theme. With new sectors like space, renewable energy, and power distribution now open to private participation, Modi stressed that these collaborations will help propel India into the future.

A performance-driven governance model 

In the most recent budget, Modi pointed to another crucial step: the opening of the nuclear sector to private participation. This shift, he explained, would stimulate growth and innovation. Modi stressed that India’s governance is now performance-driven, with policies designed for measurable impact. He shared that over the past decade, 25 crore Indians have risen above the poverty line, joining the neo-middle class, further fuelling the nation’s economic strength.

The zero-income tax threshold for incomes up to ₹12 lakh, which was introduced in the budget, stands as a game-changing initiative, acting as both a stimulus and a reflection of the government’s commitment to reform.

Wrapping up his address, Modi expressed confidence that the Viksit Bharat agenda, driven by trust and action, would continue to thrive, with The Times Group ET NOW Global Business Summit 2025 playing a pivotal role in advancing this vision for India’s future.