India Viewed as a Bright Spot for Growth Amid Policy Continuity, Says PM Modi

Prime Minister Narendra Modi stated on Friday that India is viewed globally as a bright spot for growth and hope, driven by political stability and consistent policy continuity. Speaking at the Economic Times World Leaders Forum, Modi emphasized that his administration remains committed to implementing reforms across multiple sectors to maintain the country's economic momentum.

Highlighting the broader economic strategy, the prime minister noted that the government is focusing on policy-level changes, governance improvements, and measures aimed at enhancing the ease of living. He stated that the administration is shifting its regulatory philosophy from a 'prohibited-unless-permitted' approach to a 'permitted-unless-prohibited' model, asserting that activities should not face regulation unless explicitly banned by law.

Comparing current economic policies with past regimes, Modi criticized earlier approaches, alleging that previous policies fostered scarcity and relied on a 'licence raj' that contributed to unemployment. In contrast, he pointed to the government's production-linked incentive (PLI) framework as a driver for creating manufacturing opportunities and rewarding higher production levels.

Modi also highlighted advancements in infrastructure and technology. He noted improvements in transportation networks, including Indian Railways, the Delhi Metro, and the Namo Rapid Rail. Additionally, he mentioned progress in domestic manufacturing, stating that India is producing affordable mobile phones while utilizing some of the world's cheapest data services. Furthermore, the prime minister pointed to updates in geospatial policies and noted that border infrastructure is increasingly being treated as a strategic strength.

"Political stability and clear policy continuity are critical foundations for long-term economic planning and business confidence. The shift toward production-linked incentives and regulatory simplification offers a structured environment for businesses and investors. For the broader business ecosystem, predictable governance and streamlined compliance reduce operational friction and support sustained market growth." — Dr. Shishir Gupta, Founder & CEO, StartupLanes