PM Modi: India Ready to Drive Global Economic Growth

Swift Summary

• Prime MinisterS Address: PM Narendra Modi spoke at the Economic Times World leaders Forum in New Delhi on August 23, 2025.
• Key Economic Aspirations:

– India aims to become the world’s third-largest economy soon and achieve developed nation status by 2047.
– India’s contribution to global growth is expected to reach around 20%.

• Reforms:

– GST reform aimed at simplifying laws and lowering prices will be completed before Diwali.
– Comprehensive “next-generation reforms” will boost manufacturing, employment, ease of living, and ease of doing business.

• Investment Priorities:

– The private sector should increase R&D investment in clean energy, quantum tech, battery storage, advanced materials, and biotechnology for a self-reliant india.

• Economic Achievements:

– Fiscal deficit projected to reduce to 4.4%.
– indian companies are raising record funds; banks are robust; inflation and interest rates remain low. Current account deficit is controlled with ample forex reserves.-Export Growth:
india exports over vehicles worth ₹1.2 lakh crore/year as higher prior than ₹50 as previously inflated.metrics The upcoming Aug major longevity%