PM Modi Highlights Major Reforms Boosting India's Investment And Manufacturing Growth

At the Kautilya Economic Conclave, Prime Minister Narendra Modi highlighted the optimistic outlook for the Indian economy, noting that several international organizations, including the World Bank, Moody’s, and the International Monetary Fund, have upgraded their growth forecasts to over 7%. He expressed confidence that India would perform even better than these predictions despite global uncertainties. Modi emphasized that the Indian economy is undergoing a significant transformation, bolstered by strong economic fundamentals. "India is on a path of sustained high growth," he stated, indicating that the country is not only aiming for the top but also striving to maintain its position. The Prime Minister attributed India’s appeal as an investment destination to the major reforms implemented over the past decade. He pointed out that these reforms have fundamentally changed the macroeconomic landscape, particularly in the manufacturing and services sectors. To further enhance manufacturing, Modi discussed the introduction of production-linked incentive (PLI) schemes, which have attracted investments of approximately INR 1.25 trillion over the last three years, resulting in production and sales amounting to about INR 11 trillion. This reflects the government's commitment to fostering economic growth and sustainability.