In a significant address at the ET NOW Global Business Summit 2025, Prime Minister Narendra Modi emphasized the crucial role of the private sector in India’s journey towards becoming the third-largest economy in the world. He highlighted a series of reforms, including changes in legal and banking systems, which have improved the ease of doing business and reduced government interference.
Prime Minister Modi noted the recent tax exemption increases and initiatives on property rights as key achievements. He stressed that India will move in unison with the global community during the Fourth Industrial Revolution, thanks to the current administration’s efforts to replace the fear of business with a more conducive business environment. The government has also opened up sectors like space, defense, drone technology, renewables, and nuclear energy to the private sector, while focusing on uplifting backward districts.
In his first address following his successful visits to the United States and France, Modi referred to the BJP’s victories in the Odisha, Haryana, and Delhi assembly elections. He said these wins were a testament to the trust people have in his government, which he claims is working at thrice the pace of its predecessor.
Prime Minister Modi’s remarks underscore his government’s commitment to fostering a thriving private sector and accelerating India’s economic development.