Addressing the ET World Leaders Forum 2025 on August 22, Prime Minister Narendra Modi hailed India’s economic strength, stressing that the country is not only among the fastest-growing economies but is also capable of pulling the world out of its current phase of slow growth. “We are not the people who sit on the banks of stagnant water and throw pebbles. We are the people who can turn the fast-flowing stream,” he said, drawing a sharp contrast between India’s dynamism and global economic stagnation.
PM Modi highlighted that his government has rewritten India’s Income Tax law for the first time in 60 years, making it simpler and more citizen-friendly. He also pointed to the passage of Jan Vishwas Bill 2.0, which, he said, embodies “trust-based and pro-people governance.” Despite opposition disruptions during the Monsoon Session of Parliament, Modi underlined that reforms were carried forward with full commitment.
#WATCH | Delhi: Addressing ET World Leaders Forum 2025, PM Narendra Modi says, “India, which follows the mantra of Reform, Perform, Transform, is today in a position to take the world out of slow growth rate. We are not the people who sit on the banks of stagnant water and throw… pic.twitter.com/XPKim9HMiT
— ANI (@ANI) August 23, 2025
One of the biggest announcements of his address was the government’s decision to complete major GST reforms by Diwali. Modi said the new framework would simplify compliance, reduce prices, boost manufacturing, and improve ease of living as well as doing business. “A big reform is also being done in GST. This process will be completed by this Diwali. This will make GST even easier and prices will also come down,” the Prime Minister assured.
Modi also showcased key economic indicators:
Banks stronger than ever before with low non-performing assets.
Inflation at its lowest since 2017.
Interest rates under control.
Current Account Deficit (CAD) low.
Record-high forex reserves.
24 lakh new formal jobs added in June through EPFO registrations.
He said, “Every month, several domestic investors are investing heavily through SIPs. India’s resilience and strength is now the world’s hope.”
Echoing his Independence Day address, PM Modi reiterated that India’s first Made-in-India semiconductor chip will hit the market by year-end. He also pointed to progress in 6G technology, positioning India as a global leader in cutting-edge innovation.
Modi underlined his vision of Viksit Bharat 2047, built on the foundation of Aatmanirbhar Bharat. He spoke about transforming India into a thriving sports economy and strengthening research and development (R&D). “India has significantly amplified its R&D ecosystem in recent years, but we must go further to achieve the dream of a developed India,” he said.
The Prime Minister urged private companies and industries to take a lead in emerging technologies such as quantum computing, biotechnology, clean energy, and battery storage. “The time demands private sector investment in clean energy, quantum and battery storage. Our mantra of Reform, Perform and Transform will ensure India’s leadership,” he added.
Closing his address, PM Modi asserted that India is ready to play a front-seat role in global growth, setting itself apart as the nation that will not “miss the bus.” He said India’s strong fundamentals, reform momentum, and ambitious vision make it the world’s economic hope amid global uncertainty.
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