Prime Minister Modi emphasized that the *next-generation reforms discussedat Red Fort* are now being scaled up through this global forum, positioningthe ET WLF as a catalyst for these changes. He noted that India iscurrently the *fastest-growing major economy*, with projections that itwill soon become the *third-largest economy globally*, constituting *around20% of global growth*.
He attributed this strength to *macro-economic stability* over the pastdecade—highlighting its pillars: a *declining fiscal deficit (forecast at4.4%)*, *robust banks*, *low inflation*, *reasonable interest rates*,a *controlledcurrent account deficit*, and *strong foreign exchange reserves*.
Modi also announced transformative strides in *technology and manufacturing*,including the arrival of the *first Made-in-India semiconductor chip byyear-end* and the opening of the *space sector to private players*,resulting in *over 300 space startups* today—up from just one in 2014.
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Looking ahead, he spoke of India’s *“Viksit Bharat 2047”* vision, centeredon *self-reliance (Aatmanirbhar Bharat)*, and highlighted how reformswill *energizeindustry*, *improve ease of doing business*, and *generate jobs* to realizethis long-term goal.