Kautilya Conclave: PM Modi Highlights India's Economic Transformation

Kautilya Conclave: Prime Minister Narendra Modi addressed the third Kautilya Economic Conclave in New Delhi, emphasizing that the Indian economy is undergoing a significant transformation aimed at sustaining high growth.

Global Context

Modi pointed out that the conclave is taking place during a time of conflict in key global regions, including Russia-Ukraine and West Asia, which are crucial for energy security. He noted, "Amid this global uncertainty, we are here discussing 'The Indian Era,' showcasing the elevated trust in India."

Government Initiatives

Following the principles of "reform, perform, and transform," Modi stated that the government is making rapid decisions to drive progress. He expressed confidence that discussions at the conclave would help accelerate India's development.

Key Highlights from Modi's Speech

• Focus on Technology: India is investing heavily in critical technologies like artificial intelligence (AI) and semiconductors. The semiconductor mission alone is set to attract Rs.1.5 trillion in investments, with plans for five plants to start exporting chips soon.
• Economic Forecasts: Various institutions have upgraded their growth forecasts for India, predicting over 7% growth despite global uncertainties. Modi expressed optimism that India could exceed these expectations.
• Inclusivity: The Prime Minister highlighted that India is the fastest-growing major economy and has lifted 250 million people out of poverty, reinforcing that the growth is inclusive.
• Investment Under PLI Schemes: India has secured Rs.1.25 lakh crore in investments under Production-Linked Incentive (PLI) schemes to boost local manufacturing.
• Global Ranking Improvement: India has climbed to the 39th position from 81st in the Global Innovation Index in less than ten years, reflecting its commitment to structural reforms aimed at becoming a developed nation.

Vision for the Future

Modi concluded by stating that India's focus remains on jobs, skills, and sustainable growth. "We are not only preparing to reach the top but are also working hard to stay there," he affirmed.

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Overall, PM Modi's address at the conclave highlighted the country's resilience and ambition amidst global challenges, positioning India as a key player in the world economy.