Prime Minister Narendra Modi stated that India is ready to play a defining role in lifting the global economy out of slow growth. Speaking in New Delhi, he stated that India’s journey has been guided by the mantra of “reform, perform, and transform,” citing expert projections that the country’s GDP share might soon reach 20%. He emphasised that India is on course to become the world’s third-largest economy, intending to be a developed nation by 2047.

PM Modi highlighted upcoming changes, stating that next-generation Goods and Services Tax reforms would be completed before Diwali. He stated that these reforms will simplify the law, make it easier to comply, and reduce consumer prices. Reiterating his belief in reform as a matter of “commitment and conviction,” PM stated that more comprehensive policy reforms are on the way.

He urged the private sector to invest in important fields, including clean energy, quantum technology, biotechnology, innovative materials, and battery storage to drive growth. Additionally, he further said that these initiatives will boost manufacturing, create jobs, and improve both Ease of Living and Ease of Doing Business.

Separately, he revealed that India will soon start exporting electric vehicles to 100 countries.