Prime Minister Narendra Modi has said that the government will move faster with economic reforms as India looks to strengthen its growth and move closer to the goal of becoming a developed nation by 2047.
Speaking at the Economic Times World Leaders Forum in New Delhi, Modi described the reform process as a “Reform Express” and said it would gather more speed in the coming period. His comments come at a time when India is trying to maintain strong economic momentum while dealing with uncertainty in the global economy.
Modi said the focus of the government is not only on improving economic numbers but also on making everyday life easier for citizens and creating a more supportive environment for businesses. He highlighted a change in the way policies are being framed, saying the country is moving away from a system where activities were generally restricted unless specifically allowed.
The Prime Minister also pointed to the Production-Linked Incentive (PLI) scheme as an example of this change. According to him, India has moved from an earlier approach that could discourage higher production to a system that rewards companies for increasing output. He argued that such policies are helping India build manufacturing capacity and attract investment.
The government’s wider reform agenda covers manufacturing, infrastructure, digital services, technology, energy and other areas of the economy. Modi has repeatedly stressed that faster decision-making and simpler regulations are important if India wants to compete for global investment and expand employment opportunities.
His latest remarks also build on the message delivered in his Independence Day address earlier this month. On August 15, Modi called for “next level reforms” and said reforms should become a continuous part of India’s economic and social development. The government has linked these reforms to its broader Viksit Bharat vision, which aims to make India a developed country by 2047.
India’s economic performance has given the government confidence to push ahead with this agenda. Official figures cited by the Prime Minister in June showed GDP growth of 7.7% for the financial year 2025-26, while growth in the fourth quarter stood at 7.8%. Modi said the figures reflected the strength of the economy as well as the contribution of reforms and the country’s workforce.
However, faster reforms will also bring expectations from businesses, workers and ordinary households. Companies will be looking for simpler rules and quicker approvals, while young people will expect stronger job opportunities as investment and manufacturing expand. For the government, the challenge will be to ensure that economic growth reaches a wider section of society.
Modi also presented political stability as an important advantage for India at a time when many parts of the world are facing economic and geopolitical uncertainty. He said a stable and secure India could contribute to wider global stability and economic growth.
The latest announcement signals that economic reform will remain a major priority for the government. The coming months will show how quickly these promises translate into new policies, investment, jobs and improvements in the daily lives of people.
