Namaskar.
Good Evening.
Attending this edition of the ET World Leaders Forum, it is a pleasure to see so many familiar faces. I am confident that excellent discussions have taken place here regarding Bharat's bright future, particularly at a time when the entire world is confident about Bharat.
Friends,
Bharat is crafting a unique success story today. The impact of our reforms is evident in the performance of our economy. In fact, Bharat has often outperformed predictions and its peers. For instance, in the past ten years, the global economy has grown by 35 percent. However, during the same period, our economy has expanded by nearly 90 percent. This is the sustained growth we have achieved, the sustained growth we promise, and the sustained growth that will continue into the future.
Friends,
In the past years, we have succeeded in bringing about significant changes in the lives of crores of Indians. Our government has touched the lives of countless citizens. We are committed to providing good governance to the people of this country. Reform, Perform, Transform has been our mantra, and the spirit of service that drives us is recognized by the people of Bharat. They have witnessed the nation's achievements over the last decade, which is why today, the people of Bharat are filled with a renewed confidence. There is confidence in themselves, in the country’s progress, in our policies, in our decisions, and in our intentions. When we consider the global context, where many major countries have held elections this year and the trend has been towards change, with governments facing challenges, Bharat has taken a totally opposite path. The citizens of Bharat have delivered a mandate that defies this trend. For the first time in 60 years, Indian voters have enabled a government to secure a third consecutive term. The aspirational youth and women of Bharat have voted for continuity, political stability, and economic growth. No words of gratitude would be sufficient to thank the people of Bharat for this.
Friends,
Today, Bharat's progress is making global headlines. While statistics are important, it is equally crucial to consider the lives that are being transformed. The key to Bharat's future lies in this transformation. Over the past decade, 25 crore people have been lifted out of poverty. Not only have these individuals emerged from poverty, but they have also formed a neo-middle class. The speed and scale of this transformation are unprecedented in any democratic society worldwide. This was made possible in Bharat because we changed the government's approach towards the poor. The poor had aspirations and resilience, often greater than ours, but many obstacles stood in their way. They lacked access to bank accounts and basic amenities. In response, we chose the path of empowering the poor. We removed the obstacles from their path and stood by them, shoulder to shoulder. And look at the change: people who lacked bank accounts for decades are now conducting digital transactions from their accounts. Those who were once excluded from the banking system are now obtaining bank loans without collateral guarantees and are becoming entrepreneurs. Those who were unaware of the changes occurring in the world now have devices and connectivity, making them better-informed citizens.
Those who have emerged from the struggle of poverty are driven by a hunger for progress. They want to secure a bright future for their children. Their aspirations are fuelling the creation of new infrastructure, their creativity is driving innovation, their skills are shaping industry directions, their needs are determining market trends, and their growing incomes are stimulating market demand. This neo-middle class of Bharat is proving to be the greatest force propelling the country forward.
Friends,
When the election results were announced, I had said that during our third term, the government would work at three times the pace. I assure you, our resolve has only strengthened. Like every citizen of the nation, the government is filled with hope and confidence. It has not even been 100 days since this third-term government was formed, yet we are fully engaged in modernizing physical infrastructure, expanding social infrastructure, and steadily advancing reforms. Over the past three months, we have made significant decisions for the benefit of the poor, farmers, youth, and women. We have sanctioned three crore new houses for the poor, announced the Unified Pension Scheme, expanded the Agricultural Infrastructure Fund to Rs 1 lakh crore, released over 100 varieties of improved seeds, and launched a PM package worth Rs 2 lakh crore, directly benefiting more than 4 crore young people. Additionally, within just 100 days, 11 lakh rural women from ordinary families have become 'lakhpatis'—a remarkable achievement in advancing the economic empowerment of women.
Friends,
Just yesterday, I was in Palghar, Maharashtra, where we laid the foundation stone for Vadhavan Port, with an investment exceeding Rs 75,000 crore. Only three days ago, we approved the construction of 12 new industrial cities with an investment of Rs 30,000 crore. Moreover, eight high-speed corridors worth over Rs 50,000 crore have been sanctioned. We have also approved the expansion of the Pune, Thane, and Bangalore Metro systems with Rs 30,000 crore. Meanwhile, work has begun on one of the world's highest tunnels in Ladakh.
Friends,
For us, infrastructure is more than just increasing length, breadth, and height—it is a means of improving convenience and the quality of life for Indian citizens. In the past, railway coaches were manufactured, but now we have introduced modern trains like Vande Bharat, which offer both speed and comfort. This morning, I flagged off three new Vande Bharat trains. Roads have always been built, but today we are developing a network of modern expressways. Airports existed before, but we are now connecting Bharat’s tier-two and tier-three cities through air connectivity. We have introduced the PM Gati Shakti National Master Plan, aimed at ensuring that the governments and government departments across the country break free from the culture of working in silos. These efforts are generating vast numbers of jobs, greatly benefiting our economy and industries.
Friends,
The third decade of the 21st century represents a "lift-off" decade for Bharat. How will this happen? Who will benefit? We are the ones making it happen, and it will benefit everyone—the entire country. With all of you, stakeholders in the Indian economy and friends from the private sector, present here today, I would like to discuss the pillars that will accelerate the creation of a developed Bharat. These pillars not only represent Bharat’s prosperity, but also global prosperity. Today, opportunities are expanding in every direction within Bharat, and the government is supporting every effort. We are poised to take a giant leap forward, and to do so, we are working with a long-term vision.
Friends,
The aspiration of every Indian is to see Bharat become a global manufacturing hub, and this is also the expectation the world has of us. Today, you can witness a revolution taking place across the country towards this goal. Our MSMEs are receiving an unprecedented level of support. Plug-and-play industrial parks are being established in cities, and economic corridors are being developed. The production of critical minerals is being actively promoted. The success of the Production-Linked Incentive (PLI) schemes in Bharat has been nothing short of remarkable.
Friends,
Before the period of colonial rule, one of the major foundations of Bharat's prosperity was our rich knowledge, tradition and system. This remains an essential pillar of a developed Bharat. Who among us would not wish for Bharat to become a hub of skills, knowledge, research, and innovation? To achieve this, the government is fostering partnerships between industry and academia, a priority that has been strongly reflected in this year’s budget. This is the rationale behind the establishment of a research fund worth Rs 1 lakh crore. The country is also striving to open campuses of top foreign universities in Bharat, enabling our middle-class children, who spend significant amounts on education abroad, to save that money. For example, in the seven decades following independence, the number of MBBS and MD seats in Bharat remained around 80,000, forcing many of our students to go abroad to pursue medical education. However, in the last ten years, we have added nearly one lakh new MBBS and MD seats across the country. Today, there are more than one lakh eighty thousand MBBS and MD seats in Bharat. On the 15th of August this year, I announced from the ramparts of the Red Fort that 75,000 new seats will be added to the medical sector in Bharat over the next five years. The day is not far when Bharat will become a significant global centre for health and wellness.
Friends,
Bharat harbours another grand ambition: to become the world’s global food basket. It is our national resolve that a 'Made in Bharat' food product should be present on every dining table across the globe. We are taking multiple steps simultaneously to fulfil this vision. Today, there is a strong emphasis on organic and natural farming. There is also a focus on improving the quality of our dairy products and seafood. You may recall that last year the entire world celebrated the International Year of Millets—an initiative spearheaded by Bharat. Bharat is the largest producer of millets globally, and these superfoods are beneficial for both nature and human progress. I am pleased to see that Bharat is now securing its place among the world’s top food brands.
Friends,
The green energy sector is poised to be another strong pillar of a developed Bharat. You have witnessed Bharat's success at the G-20 summit, where our green hydrogen initiative garnered the support of all participating countries. Bharat has committed to developing the capacity to produce 5 million tonnes of green hydrogen by 2030. Additionally, Bharat aims to generate 500 Gigawatts of renewable energy by 2030.
Friends,
In the past years, technology has been a major driver of our growth. Now, alongside technology, tourism will also become a key pillar of Bharat's development. The nation is striving to position itself as a top destination for tourists from all over the world, across various segments. Today, Bharat's historical and cultural centres are being revamped and made more magnificent and grand. Our beaches and small islands are undergoing significant development. At the same time, a unique campaign is underway in the country—'Dekho Apna Desh, People's Choice'—where citizens are voting to create a list of Bharat's most popular tourist destinations. The tourist spots that the people of Bharat identify as top destinations will be developed on a mission mode, which will also generate substantial employment opportunities.
Friends,
Our country is now focusing on everyone's participation in its transformation. During our G-20 Presidency, we empowered our African friends and raised the voice of the Global South. We now aspire for a world order that ensures the inclusive development of all nations, especially those in the Global South. In the coming years, the countries of the Global South will present the greatest opportunities in the world, as a large portion of humanity resides in these regions. Bharat is emerging as the voice of these countries, guided by the spirit of 'Vishwa-bandhu'.
Friends,
The world today is dynamic, and therefore, our government's policies and strategies are equally dynamic. We are taking every necessary step to address evolving needs, shaping our policies not based on yesterday, but with tomorrow in mind. Our focus is firmly on the future, as we prepare the nation today for the challenges and opportunities of tomorrow. Whether it’s the Green Hydrogen Mission, Quantum Mission, Semiconductor Mission, or Deep Ocean Mission, Bharat is actively working on these initiatives. Recently, the government announced a fund of Rs 1,000 crore to promote space technology. Today, Bharat is truly a land of opportunities, and we believe that our future will be even brighter.
Friends,
We have pledged to make Bharat a developed nation by 2047. We know that you also wish to actively participate in this journey. We want more and more companies in Bharat to become global brands. We aspire for Bharat to lead in every sector on the global stage. Our promise to you is that we will facilitate, and your promise should be to innovate. Our promise is to reform, and your promise should be to perform. Our promise is to provide a stable policy regime, and your promise should be to create positive disruptions. Our promise is to focus on high growth, and your promise should be to focus on high quality. Think big, as we have many success stories to write together for the nation.
Today's Bharat is the land of the greatest possibilities in the world. Today's Bharat values wealth creators. A strong Bharat can drive substantial development for all of humanity. A prosperous Bharat can pave the way for global prosperity. We must remember the mantras of innovation, inclusion, and international cooperation. To every Indian, whether at home or abroad, and to every supporter of Bharat, I say, let us walk together on this journey. Let us make Bharat a developed nation because the prosperity of the world is intertwined with the prosperity of Bharat. And I am confident that we can achieve this goal. With this belief, I extend my heartfelt gratitude to all of you.
Thank you.
DISCLAIMER: This is the approximate translation of PM’s speech. Original speech was delivered in Hindi.
