GG News Bureau
New Delhi, 5th Oct. Prime Minister Narendra Modi delivered a keynote address at the third edition of the Kautilya Economic Conclave in New Delhi today, emphasizing India’s position as the fastest-growing major economy. Organized by the Institute of Economic Growth in collaboration with the Ministry of Finance, the conclave focuses on critical economic themes, including financing green transitions and geo-economic fragmentation.
In his speech, PM Modi expressed gratitude for the opportunity to participate in the event, which will host discussions over the next three days on various economic challenges. He noted that the conclave is taking place amid global uncertainty and highlighted the increasing trust in India’s economic policies.
“India is the fastest growing major economy in the world today,” PM Modi stated, adding that the country ranks fifth in global GDP and leads in FinTech adoption and smartphone data consumption. He pointed out that India has the world’s third-largest startup ecosystem and is second in mobile manufacturing, underlining the nation’s youth demographic and scientific talent.
Highlighting the government’s mantra of “Reform, Perform, and Transform,” PM Modi affirmed the administration’s commitment to structural reforms to propel India towards development. He showcased bold policy changes in the first three months of the current term, citing investments of over ₹15 trillion in infrastructure and the approval for three crore new houses.
The Prime Minister emphasized that inclusion accompanies growth in India, with 250 million people having moved out of poverty over the last decade. He cited recent upgrades in India’s growth forecasts by global institutions and reaffirmed confidence in the country’s economic trajectory.
PM Modi outlined key reforms that have bolstered India’s investment appeal, including banking reforms and the implementation of the Goods and Services Tax (GST). He also mentioned the focus on critical technologies such as artificial intelligence and semiconductors, with significant government investment.
Discussing education and skills development, the Prime Minister announced a special package for youth skilling and internships, aimed at providing real-world experience to one crore young Indians through the PM Internship Scheme.
He concluded his address by acknowledging India’s commitment to sustainable development, referencing the government’s ambitious goals for green energy and the ongoing initiatives to create jobs in this sector.
Union Finance Minister Nirmala Sitharaman and President of the Institute of Economic Growth, N.K. Singh, were among the dignitaries present at the conclave.
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