Prime Minister Narendra Modi, addressing a media event in New Delhi on Saturday (August 23, 2025), emphasized that India, guided by the mantra of Reform, Perform, and Transform, is poised to help lift the global economy out of its current phase of slow growth. He stated that India is on track to soon become the world’s third-largest major economy and aims to become a fully developed nation by 2047.
Highlighting his government’s reform-driven approach, PM Modi said reforms are not a response to crisis or compulsion but a matter of commitment and conviction. He reiterated that his administration remains focused on continuous improvement and is not satisfied with past achievements. “The same spirit drives our reforms. We are not stopping here,” he said.
One of the key announcements was the completion of the next-generation Goods and Services Tax (GST) reform process before Diwali. This reform aims to simplify the GST law further and bring down prices, contributing to greater efficiency in the economy.
The Prime Minister also made a strong pitch for private sector participation in national development. He called on industry leaders to increase investment in research and development in emerging sectors such as clean energy, quantum technology, battery storage, advanced materials, and biotechnology. He said such efforts would help accelerate India’s journey toward becoming a developed nation and enhance global competitiveness.
Modi underlined that the government is preparing to launch a comprehensive set of next-generation reforms that will boost manufacturing, expand market demand, and generate new employment opportunities. These reforms are expected to significantly enhance both the Ease of Living for citizens and the Ease of Doing Business for industries.
“With this new reform arsenal, India’s economic landscape is set to transform,” he asserted, adding that the country’s development path will not only be inclusive and innovation-driven but also aligned with global sustainability goals.
The Prime Minister’s remarks reflect a confident vision for India’s future, rooted in proactive governance, forward-looking reforms, and collaborative nation-building.
