Addressing the Economic Times World Leaders Forum, Prime Minister Narendra Modi highlighted political stability, policy continuity, next-generation reforms and India’s growing manufacturing capabilities.
New Delhi : Prime Minister Narendra Modi said that reforms across sectors remain a key commitment of his government and that India is continuously taking measures to sustain the country’s economic growth momentum.
Addressing the Economic Times World Leaders Forum, Modi said India has political stability and continuity in its policies, while the world increasingly views the country as a major centre of growth and hope.
India Continuing to Push Reforms
The Prime Minister said India is taking multiple steps to maintain its growth trajectory.
“India is continuously taking several steps to maintain the momentum of growth. India is taking forward reforms in all sectors, and reforms are our commitment.”
He said global growth prospects are facing concerns amid the use of resources as instruments of geopolitical pressure, but India continues to be viewed as an important growth opportunity.
According to Modi, the NDA government has a clear roadmap for reforms, with a strong emphasis on good governance.
He said the government is promoting higher production through incentive-based policies aimed at encouraging investment, manufacturing and economic activity.
From ‘Licence Raj’ to Production-Based Incentives
Modi criticised what he described as the policies of previous governments that, according to him, kept people dependent on the government even for basic necessities.
He said the earlier “Licence Raj” system contributed to the burden of unemployment, while the current government’s production-linked incentive approach is designed to create opportunities.
The Prime Minister said the government is not merely changing individual rules but is seeking to transform the overall regulatory philosophy.
“We are not merely changing rules, but changing the entire policy of rules.”
He said the government believes that an activity should not require regulation unless it is clearly prohibited by law.
Shift Towards ‘Permission by Default’
Modi said the government is undertaking next-generation reforms at the policy level and simultaneously working to improve governance and ease of living.
He described the change as a shift from a system where activities remain restricted until permission is granted to a model where activities are allowed unless specifically prohibited.
In his words, India is moving from “restricted until permitted” to “permitted until restricted.”
The objective, he said, is to reduce unnecessary regulatory barriers and create a more business-friendly and opportunity-oriented environment.
From Production Penalties to Production Incentives
The Prime Minister contrasted the earlier approach of what he termed production-based penalties (PLP) with the government’s current Production Linked Incentive (PLI) framework.
He said the PLI approach is designed to reward increased production and encourage companies to expand manufacturing capacity in India.
Modi cited developments in sectors and public infrastructure as examples of how incremental improvements can contribute to broader transformation.
He referred to improvements in the Indian Railways, Delhi Metro and Namo Rapid Rail, saying that even small changes demonstrate how India is changing with time.
Easing Restrictions on Mapping and Geospatial Data
Modi also referred to changes in India’s geospatial and mapping policies.
He said that in the past, obtaining permission for mapping parts of India was difficult, even though foreign satellites could undertake mapping activities.
According to the Prime Minister, the government has changed this approach as part of its broader effort to reduce unnecessary restrictions and encourage innovation.
Border Infrastructure Turned into a Strength
The Prime Minister also highlighted the transformation of infrastructure along India’s borders.
He said the government had decided to treat border infrastructure as a national strength rather than a weakness and has worked to significantly improve infrastructure in border areas.
The development of roads and other infrastructure along the borders, according to Modi, is part of a broader strategy to strengthen connectivity, national security and economic development.
India Offers Affordable Data and Mobile Phones
Modi also highlighted India’s position in the digital economy.
He said India offers some of the world’s most affordable data, while the country is increasingly capable of manufacturing high-quality and affordable mobile phones.
The expansion of domestic electronics manufacturing, he said, reflects the broader transformation taking place across India’s manufacturing ecosystem.
Political Stability and Policy Continuity
The Prime Minister also emphasised that political stability and continuity in policy are important factors behind India’s growing global economic appeal.
He said the international community increasingly sees India as a major destination for growth and opportunity.
The government’s reform agenda, manufacturing incentives, regulatory changes, infrastructure development and digital expansion, according to Modi, are intended to create a stronger foundation for sustained economic growth.
India’s Reform Agenda Focuses on Long-Term Growth
The Prime Minister’s address placed reforms at the centre of India’s economic strategy, with emphasis on production, deregulation, infrastructure, manufacturing, digital connectivity and ease of doing business.
He said the government’s objective is not simply to modify individual regulations but to create a broader environment in which businesses, entrepreneurs and citizens can operate with fewer unnecessary restrictions.
With continued policy reforms and investment in infrastructure and manufacturing, the government aims to strengthen India’s position as a global hub of growth, innovation and opportunity.
