PM Modi at ET World Leaders Forum: Addressing the Economic Times World Leaders Forum, PM Narendra Modi highlighted that India is currently the fastest-growing
major economy in the world and is set to become the third-largest economy globally. The prime minister highlighted that every month, lakhs of domestic investors are investing thousands of crores of rupees into the market through Systematic Investment Plans (SIPs).
PM Modi cited expert assessments indicating that India’s contribution to global growth is expected to reach nearly 20 percent in the near future. He attributed India’s growth and economic resilience to the macro-economic stability achieved over the past decade.
No incremental changes…it’s time for quantum jumps! pic.twitter.com/6Gpj8R3fM4
— Narendra Modi (@narendramodi) August 23, 2025
"India’s fiscal deficit is estimated to decline to 4.4 percent, despite the severe challenges posed by the COVID-19 pandemic," said Modi. He added that Indian companies are raising record funds from capital markets, while Indian banks are stronger than ever before and the inflation is very low and interest rates are also low.
Underlining that India’s current account deficit is under control and forex reserves are robust, PM said, "India's retail inflation is at its lowest level since 2017 and foreign exchange reserves have reached an all-time high."
Bharat carries the strength to even bend the course of time. pic.twitter.com/g4Bf5X77Fx
— PMO India (@PMOIndia) August 23, 2025
He also cited S&P Global Ratings which has upgraded country’s credit rating saying, "India, through its resilience and strength, continues to be a source of global confidence."
Talking about employment generation, the prime minister highlighted that 22 lakh formal jobs were added to the EPFO database in the month of June 2025 alone.
Highlighting on country's Solar PV Module Manufacturing Capacity, PM Modi said, "In 2014, country's Solar PV Module Manufacturing Capacity was approximately 2.5 GW, and the latest figures show that this capacity has now reached the historic milestone of 100 GW."
Underlining on country's achievement in space mission, PM said, "To infuse new energy into the space sector, it was essential to free it from all constraints”, stated Shri Modi highlighting that for the first time, clear rules were established for private participation in the space domain. The Prime Minister remarked that spectrum allocation was made transparent for the first time while foreign investment in the space sector was liberalized for the first time. He further announced that this year’s budget includes a ?1,000 crore Venture Capital Fund dedicated to space startups.
“India’s space sector is now witnessing the success of the reforms undertaken. In 2014, India had only one space start-up, whereas today there are over 300”, stated the Prime Minister affirming that the day is not far when India will have its own space station in orbit," said Modi.
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