Prime Minister Narendra Modi Propels India’s Economic Triumph at ET Now Global Business Summit 2024

New Delhi:  In a compelling address at the ET Now Global Business Summit 2024 held at Hotel Taj Palace in New Delhi, Prime Minister Shri Narendra Modi articulated the transformative journey of India in the realms of disruption, development, and diversification. The theme of the summit resonated with the Prime Minister, who asserted that the global sentiment towards India has never been more positive.

Reflecting on the discussions at Davos, the Prime Minister highlighted India’s recognition as an unprecedented economic success story with its digital and physical infrastructure reaching new pinnacles. He underscored the world’s growing faith in India, emphasizing the country’s domination across sectors. PM Modi hailed the expert groups discussing India’s transformation as evidence of the global community’s confidence in India’s potential.

Addressing the theme of disruption, the Prime Minister noted the virtuous cycle of development that India is experiencing. He highlighted the increasing growth rate, declining fiscal deficit, and remarkable achievements in various economic indicators. PM Modi expressed satisfaction with the positive reviews received for this year’s Interim Budget, attributing its success to the principles of stability, consistency, and continuity.

Reflecting on the challenges posed by the COVID-19 pandemic, the Prime Minister commended India’s prioritization of saving lives and addressing both health and livelihood demands. He highlighted the government’s efforts, including free ration distribution, Made in India vaccines, and quick vaccine availability. PM Modi affirmed that India successfully turned the crisis into an opportunity through various measures, rejecting suggestions that could have led to inflationary pressures.

The Prime Minister emphasized India’s role as a welfare state, prioritizing the improvement of citizens’ lives and investing in the country’s future. He detailed the four main factors in the budgets, focusing on productive expenditure, unprecedented investment in welfare schemes, control on wasteful expenditure, and financial discipline.

PM Modi credited India’s policies for the robust economic position today, addressing concerns raised during the pandemic. He emphasized the importance of financial management in policies and decisions, outlining various measures that saved substantial amounts, including the blending of ethanol in petrol and the Swacchta Abhiyan.

Highlighting the government’s focus on saving citizens’ money, the Prime Minister discussed initiatives like the Jal Jeevan Mission and Ayushman Bharat, contributing to reduced expenses on waterborne diseases and healthcare. He underlined the accountability to present and future generations, showcasing the government’s commitment to financial management.

PM Modi discussed various schemes and initiatives, including the Rooftop solar scheme, Ujala scheme, and the electrification of railway lines, showcasing India’s progress in diverse sectors. He criticized incremental thinking, emphasizing the need for large-scale and speedy actions to bring about transformative change.

Touching upon the challenges faced before 2014, the Prime Minister presented a White Paper in Parliament, acknowledging past policy errors. He assured the country that India is on the path to becoming the third-largest economy globally, expressing confidence in significant decisions and new schemes to eliminate poverty.

Concluding his address, Prime Minister Narendra Modi declared, “New India will work with super speed. This is Modi’s guarantee,” instilling confidence in India’s trajectory towards a prosperous and developed future.