Prime Minister Narendra Modi stated that India is not just an emerging market but also an emerging model—a nation that serves as a beacon of hope for the rest of the globe, with its economy continuing to grow rapidly in spite of global obstacles. The Prime Minister stated, “Although the past four to five years have brought significant global challenges, India has continued to sustain a high growth rate,” during the Ramnath Goenka lecture. Despite supply chain delays brought on by the COVID-19 epidemic, the conflict between Russia and Ukraine, and the geopolitical crises in West Asia, PM Modi pointed out that India’s economy has grown steadily, reaching almost 7%.
He noted that the “Indian growth model” was currently being used as a global paradigm. The Prime Minister added that, in contrast to the 25 crore citizens of the nation who were receiving benefits under government programs up to 2014, the government has brought up to 94 crore people under social security coverage during the past 11 years. Additionally, he noted that the government’s initiatives, such the introduction of Jan Dhan accounts for the impoverished who had been ignored for years, have lifted over 28 crore people out of poverty.
PM Modi said his government is prioritizing development in the 100 poorest districts—once called “Backward Districts,” now renamed “Aspirational Districts.” Instead of being punishment postings, these areas now receive the best officers and tailored development schemes. He urged state governments to promote investment and improve ease of doing business to boost overall development.
