India Economic Revival Leader: How PM Modi Outlined India’s Role in Ending the Era of Slow Growth

A Beacon of Hope Amidst Global Slowdown

At the Economic Times World Leaders Forum in New Delhi on August 23, 2025, Prime Minister Narendra Modi declared, “India, guided by the mantra of Reform, Perform, Transform, is now in a position to help lift the world out of slow growth.” This bold proclamation came as the global economy struggles under sluggish momentum, geopolitical disruptions, and trade competition.

Modi’s address was more than rhetoric; it was a meticulously orchestrated vision, backed by robust economic indicators and a sweeping reform agenda, positioning India as a vital engine for global recovery.

Modi reinforced that India stands on sound economic fundamentals. He shared that:

• India is the fastest-growing major economy, poised to become the third-largest globally.
• Experts estimate India’s contribution to global growth could reach nearly 20% soon.
• The fiscal deficit is projected to decline to 4.4 percent, despite the pandemic’s strain.
• Companies are raising record funds via capital markets, while banks remain strong. Inflation and interest rates are both low.
• Current account deficit is under control, and forex reserves are robust.
• Every month, lakhs of domestic investors pour thousands of crores into the markets via SIPs.

This stanch foundation in fiscal discipline, market confidence, and macro resiliency was pivotal to Modi’s claim of lifting global growth.

Modi outlined a comprehensive reform arsenal under the banner: Reform, Perform, Transform.

GST Overhaul by Diwali

A major Goods and Services Tax (GST) simplification is underway, expected to be completed before Diwali. This initiative aims to make compliance easier, reduce prices, and fuel consumption.

Jan Vishwas 2.0: Trust-Based Governance

Building on earlier reforms, Jan Vishwas 2.0 focuses on decriminalizing minor offences, fostering pro-people, trust-driven governance. These reforms aim to catalyze:

• Manufacturing
• Rising market demand
• Enhanced Ease of Doing Business and Ease of Living
• New employment opportunities

Research & Development Push

Modi spotlighted India’s accelerated investments in R&D:

• Expenditure on R&D has more than doubled since 2014.
• Patent filings have increased 17-fold.
• R&D cells have been established in around 6,000 higher education institutions.
• The “One Nation, One Subscription” initiative now grants students access to global research journals.

He called for private sector involvement in future-focused sectors:

“…increase investment in research and development in sectors like clean energy, quantum technology, battery storage, advanced materials, and biotechnology.”

Job Creation & Market Confidence

Modi highlighted that in June 2025, a record 22 lakh formal jobs were added to the EPFO database, an all-time high for a single month.

Inflation & Exports on the Up

Retail inflation is at its lowest since 2017, and foreign exchange reserves are at a historic high.

Space Sector Quantum Leap

Modi addressed space sector reforms:

• Until 2014, India conducted only 42 space missions in 35 years; in the last 11 years, it has completed over 60 missions.
• India achieved space docking capability this year.
• India’s space sector now hosts over 300 space start-ups.
• Transparent spectrum allocation, liberalized FDI, and private participation have energized the sector.
• Modi asserted, “India is not aiming for incremental change, but a quantum jump.”

Tech, Telecom, and “Missing the Bus” Mindset Shift

He criticized past complacency with a metaphor of “missing the bus” in telecom and semiconductors.

• India developed its entire 5G stack domestically, now rapidly working on a Made-in-India 6G.
• The first Made-in-India chip is expected by the end of the year.
• Semiconductor factories are now emerging across India.

Exports & Self-Reliance Achievements

Modi spoke of India’s transition from import-dependent to export-driven:

• Agricultural exports totaled ₹4 lakh crore in the past year.
• India manufactured 400 crore vaccine doses, half of the world’s total last year.
• Auto exports have grown from ₹50,000 crore pre-2014 to ₹1.2 lakh crore per year.
• India is now exporting metro coaches, rail locomotives, and EVs to 100 countries.

Modi celebrated India’s renewed credibility:

• S&P Global Ratings upgraded India’s sovereign credit, the first upgrade in nearly two decades.
• India is now seen as a source of global confidence.

Invoking powerful metaphors, he said:

“We are not among people who sit by the side of a stagnant stream and throw in pebbles. We are the people who change the course of streams.”

And: “India has the strength to bend the course of time.”

These images underscored India’s assertive, dynamic role on the world stage, not just passively observing but actively shaping global trajectories.

Modi’s remarks were imbued with humanistic optimism:

• He praised the forum’s perfect timing, calling it a “force multiplier” for transformative reforms.
• He offered India as a “beacon of hope,” a narrative driven not merely by numbers, but by conviction.
• His speech traced the arc from past missed opportunities to present achievements, a story of national maturation and global aspiration.

Prime Minister Narendra Modi’s speech at the Economic Times World Leaders Forum was more than a policy address; it was a bold declaration of India’s new role in the global economy. By highlighting strong fundamentals, sweeping reforms, rapid technological advances, and a confident vision, Modi positioned India not as a follower but as a driver of global growth.

From fiscal discipline and GST reforms to breakthroughs in space and semiconductor technology, India is demonstrating resilience and innovation at a time when much of the world is weighed down by uncertainty. Modi’s call to action, “India has the strength to bend the course of time,” was not just a metaphor but a statement of intent, signaling that India is ready to lead by example.

The message was clear: India’s rise is not only for its own citizens but for the entire global community. With nearly 20% of global growth projected to come from India, the country is emerging as the world’s growth catalyst, offering stability, opportunity, and hope.

In a world where many economies are slowing down, India’s momentum could very well set the course for the next phase of global prosperity.

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