Modi says India is land of opportunities; promises reforms, stable policy

Projecting India as the land of biggest opportunities globally, Prime Minister Narendra Modi on Saturday promised the business sector facilitation, reforms, a stable policy regime and high growth.

Addressing the ET World Leaders Forum, Modi, in turn, asked investors to commit to innovation, performance, positive disruption and high-quality products, as he stressed that the country respects wealth creators.

With the opposition often taking aim at his government over its reduced majority, the prime minister asserted that his dispensation has begun its third term with more determined intentions and is full of hope and confidence, citing a host of decisions it has taken for the welfare of various sections of society and boosting infrastructure.

While people in most countries that went to polls this year voted for a change, Indians preferred continuity, political stability and economic growth, Modi said, asserting that a new neo-middle class is driving the country's progress and setting the direction for its market.

India is writing a unique success story, and the impact of its reforms is visible in the economy's performance, he said.

In this dynamic world, he said, his government's policies and strategy are dynamic as well.

It takes necessary steps as per the needs, setting its policies not based on the past but on the evolving future.

“Our focus is on the future. We want to prepare the country for the challenges and opportunities that await us,” he said, underlining his government's initiatives in the fields of green hydrogen, semiconductors, deep ocean and space.

The country has achieved sustained growth in the last 10 years, with a rise of 90 per cent in the period against the global growth of 35 per cent, he said, adding that the world's prosperity lies in India's prosperity.

India has performed better than most predictions about it, he said.

His government wanted more companies to become global brands and the country to emerge as a leader in every sector, Modi said.

He described the unfolding third decade of this century as an era of the country's lift-off which will benefit everyone.

India abides by the mantra of innovation, inclusion and international cooperation, Modi said.

"In less than 100 days of the third term of our government, we have taken big decisions for poor, women, youth and farmers," he said, citing measures like more houses for the poor, package for the youth and the nod to numerous highway and rail projects.

Modi said his government is working to make the country a global health and wellness centre, noting that it has added one lakh more medical seats in the last 10 years against the 60,000 that existed before.

Over 75,000 more seats will be added in the next five years, he said.

He also highlighted efforts to boost India's tourism profile and make it a global food basket.

It is his resolve to ensure a 'Made-in-India' product on every dining table across the world, he added.

His government, he said, has succeeded in effecting big changes in people's lives with its mantra of “reform, perform and transform”.

With over 25 crore people rising out of poverty, a neo-middle class has emerged at a historic scale and speed, unseen in any democratic society, Modi said.

Their needs are driving growth and fuelling demand in the market, he added.