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Prime Minister Narendra Modi's address at the ET World Leaders Forum 2025 underscored India's ambitious trajectory towards becoming a global economic powerhouse and a leader in technology and innovation. The Prime Minister articulated a vision of a 'Viksit Bharat' (Developed India) by 2047, built upon the foundation of 'Aatmanirbhar Bharat' (Self-Reliant India). This vision is driven by a series of reforms, strategic investments, and a commitment to fostering a vibrant ecosystem for innovation and entrepreneurship. Modi's speech covered a wide array of topics, including macroeconomic stability, technological advancements, space ambitions, tax reforms, defence production, and clean energy, painting a comprehensive picture of India's growth strategy. Key to understanding Modi’s vision is grasping the magnitude of change he envisions. It’s not about small improvements, it’s about ‘quantum jumps’. This reflects an ambition to transform India fundamentally, moving beyond incremental progress to achieve disruptive innovations and establish global leadership in key sectors. The focus on ‘Aatmanirbhar Bharat’ is central to this transformation. It signifies a commitment to reducing dependence on foreign imports and building a robust domestic manufacturing base. This self-reliance isn't just about economic independence; it's also about strengthening India's strategic autonomy and its ability to shape its own destiny in an increasingly complex global landscape. The Prime Minister’s emphasis on macroeconomic stability provides the bedrock for this ambitious vision. He highlighted the country's strong economic fundamentals, including a declining fiscal deficit, robust banking system, low inflation, and healthy foreign exchange reserves. These factors create a stable and predictable environment for businesses to invest and grow, fueling economic expansion and job creation. Modi emphasized that this stability is not accidental but rather the result of deliberate policy choices and prudent economic management. Furthermore, Modi outlined India's progress in various technological domains. The announcement that the first 'Made in India' semiconductor chip will be available by the end of the year is a significant milestone, marking a major step towards self-sufficiency in electronics manufacturing. This initiative is crucial for reducing India's reliance on foreign chip suppliers and strengthening its strategic capabilities in this critical sector. The focus on developing indigenous 6G technology further demonstrates India's commitment to staying at the forefront of technological innovation. Modi's address also highlighted India's growing ambitions in the space sector. The opening of the space sector to private companies has unleashed a wave of innovation and entrepreneurship, leading to a rapid increase in the number of space startups. The planned Gaganyaan mission, which will send Indian astronauts into space, is a testament to India's technological prowess and its determination to play a leading role in space exploration. The establishment of India's own space station is a long-term goal that reflects the country's commitment to pushing the boundaries of scientific and technological achievement. The Prime Minister also underscored the importance of research and development in driving innovation and economic growth. He urged the private sector to invest in R&D, particularly in areas such as quantum technology, biotechnology, and battery storage. This call to action reflects a recognition that sustained innovation requires a collaborative effort between the government, industry, and academia. In addition to technological advancements, Modi also highlighted the government's efforts to improve the ease of doing business and promote economic growth through various reforms. The simplification of the Income Tax bill and the ongoing GST reforms are aimed at reducing the compliance burden on businesses and creating a more transparent and efficient tax system. These reforms are expected to boost economic activity, attract foreign investment, and create new employment opportunities. The Prime Minister's emphasis on clean energy reflects India's commitment to sustainable development and its role in addressing climate change. He called on the private sector to invest in clean energy technologies, such as solar power, wind power, and battery storage. This commitment to clean energy is not only environmentally responsible but also economically sound, as it creates new opportunities for innovation and growth in the renewable energy sector. Modi also touched upon India's progress in defence production, highlighting the significant increase in missile production in recent years. This reflects the government's commitment to strengthening India's defence capabilities and promoting self-reliance in defence manufacturing. The allocation of 75% of the defence budget for procurement from domestic companies is a significant step towards achieving this goal. The address also highlighted the importance of sports in promoting national unity and fostering a culture of excellence. The government's new National Sports Policy is aimed at creating a supportive ecosystem for athletes and promoting sports at all levels. This initiative is expected to boost India's performance in international sporting events and inspire a new generation of athletes. Several other key voices at the forum, including Union minister Piyush Goyal, former US secretary of state John Kerry, Congress MP Shashi Tharoor, and Defence minister Rajnath Singh, provided valuable insights on India's economic and geopolitical landscape. Goyal emphasized India's economic strength and its commitment to negotiating trade deals that protect national interests. Kerry praised India's role in navigating its development trajectory and highlighted the importance of recognizing the impact of Indians in the US. Tharoor cautioned against being oblivious about China's economic decisions, while Jaishankar emphasized the overall positive trend in India's global ties. Singh reiterated India's focus on self-reliance in defence. The forum also featured insights from business leaders and state heads, including Andhra Pradesh CM Chandrababu Naidu, who expressed optimism about India's potential, and tech leader Vishal Sikka, who highlighted AI's transformative potential for businesses. In conclusion, Prime Minister Modi's address at the ET World Leaders Forum 2025 presented a compelling vision of India's future as a global economic and technological leader. This vision is based on a foundation of macroeconomic stability, a commitment to self-reliance, strategic investments in technology and innovation, and a focus on sustainable development. The success of this vision will depend on the continued implementation of reforms, the fostering of a vibrant ecosystem for entrepreneurship, and the collaborative efforts of the government, industry, and academia. The coming years will be crucial in determining whether India can realize its full potential and emerge as a truly 'Viksit Bharat' by 2047.
Building upon the foundations of macroeconomic stability, India's ambitions extend into pioneering technological advancements. Modi's declaration that the first 'Made in India' chip will be available by year-end signifies a monumental leap towards self-reliance in the semiconductor industry. This is more than just a manufacturing milestone; it's a strategic imperative. The global shortage of semiconductors has highlighted the vulnerability of nations dependent on foreign supply chains. By developing its own chip manufacturing capabilities, India aims to secure its supply of these essential components and reduce its dependence on other countries. This will not only strengthen its domestic electronics industry but also enhance its strategic autonomy in the face of geopolitical uncertainties. The pursuit of indigenous 6G technology underscores India's commitment to future-proofing its digital infrastructure. While 5G is still being rolled out in many parts of the world, India is already setting its sights on the next generation of wireless technology. This proactive approach will enable India to be a leader in the development and deployment of 6G, positioning it at the forefront of the digital revolution. The emphasis on space exploration is another key aspect of India's technological ambitions. The opening of the space sector to private companies has unleashed a wave of innovation, with the number of space startups growing exponentially. This privatization has fostered a more competitive and dynamic space industry, leading to the development of new technologies and applications. The Gaganyaan mission, which will send Indian astronauts into space, is a symbol of India's technological prowess and its determination to play a leading role in space exploration. This mission will not only enhance India's scientific capabilities but also inspire a new generation of scientists and engineers. The long-term goal of establishing India's own space station reflects the country's commitment to sustained investment in space research and development. This space station will serve as a platform for conducting scientific experiments, developing new technologies, and exploring the vastness of space. To further drive technological innovation, Modi emphasized the importance of research and development. He called on the private sector to invest in R&D, particularly in areas such as quantum technology, biotechnology, and battery storage. Quantum technology has the potential to revolutionize computing, communications, and cryptography. Biotechnology offers opportunities to develop new medicines, improve agricultural productivity, and address environmental challenges. Battery storage is essential for enabling the widespread adoption of renewable energy sources. By investing in these areas, India can create new industries, generate high-skilled jobs, and improve the quality of life for its citizens.
Beyond technology, India's economic strategy encompasses wide-ranging reforms aimed at fostering growth and improving the ease of doing business. Modi's government has focused on simplifying tax laws, streamlining regulations, and reducing bureaucratic hurdles. The simplification of the Income Tax bill and the ongoing GST reforms are key examples of these efforts. The goal is to create a more transparent, efficient, and predictable tax system that encourages investment and reduces the compliance burden on businesses. These reforms are expected to boost economic activity, attract foreign investment, and create new employment opportunities. The emphasis on infrastructure development is another crucial aspect of India's economic strategy. The government has invested heavily in building roads, railways, ports, and airports. These infrastructure projects are essential for improving connectivity, reducing transportation costs, and facilitating trade. The development of industrial corridors and special economic zones is also aimed at attracting investment and promoting manufacturing. These initiatives are designed to create a more competitive and business-friendly environment that encourages both domestic and foreign companies to invest in India. The focus on skills development is essential for ensuring that India has a workforce that is equipped to meet the demands of a rapidly changing economy. The government has launched various programs to provide vocational training, technical education, and entrepreneurship development. These programs are aimed at equipping young people with the skills they need to find jobs and start their own businesses. The emphasis on financial inclusion is also crucial for ensuring that all citizens have access to banking services and credit. The government has launched various initiatives to expand financial inclusion, such as the Jan Dhan Yojana, which has opened millions of bank accounts for previously unbanked individuals. These initiatives are aimed at empowering individuals, promoting economic growth, and reducing inequality. The commitment to sustainable development is an integral part of India's economic strategy. Modi's government has emphasized the importance of promoting clean energy, reducing pollution, and protecting the environment. The goal is to achieve economic growth while minimizing the environmental impact. India has set ambitious targets for renewable energy and is investing heavily in solar, wind, and other clean energy technologies. These initiatives are not only environmentally responsible but also economically sound, as they create new opportunities for innovation and growth in the renewable energy sector. The focus on defence production reflects India's commitment to strengthening its national security and promoting self-reliance in defence manufacturing. The government has taken steps to encourage domestic defence production, such as simplifying regulations, providing incentives, and promoting technology transfer. The goal is to reduce India's dependence on foreign arms suppliers and create a more robust and self-sufficient defence industry. The emphasis on sports development is also part of India's broader vision for national progress. The government has launched various initiatives to promote sports at all levels, such as the Khelo India program and the Fit India movement. These initiatives are aimed at encouraging physical activity, promoting health and wellness, and fostering a culture of sportsmanship.
The collective vision articulated at the ET World Leaders Forum paints a picture of India not just as an emerging economy but as a nation poised to redefine global paradigms. It's a vision driven by innovation, fueled by strategic investments, and underpinned by a commitment to sustainable and inclusive growth. The focus on 'Viksit Bharat' by 2047 isn't merely a slogan; it's a roadmap for transforming India into a developed nation, one that is self-reliant, technologically advanced, and economically prosperous. This journey requires a concerted effort from all stakeholders, including the government, industry, academia, and civil society. The government must continue to implement reforms, create a business-friendly environment, and invest in infrastructure and education. Industry must embrace innovation, invest in research and development, and adopt sustainable practices. Academia must produce skilled graduates, conduct cutting-edge research, and foster a culture of entrepreneurship. Civil society must play a role in promoting social justice, environmental sustainability, and good governance. The challenges ahead are significant, but India has the potential to overcome them and achieve its ambitious goals. The demographic dividend, the growing middle class, and the vibrant startup ecosystem provide a strong foundation for future growth. By leveraging its strengths, addressing its weaknesses, and embracing innovation, India can transform itself into a global leader and create a better future for its citizens. The success of this vision will depend on the ability to maintain macroeconomic stability, attract foreign investment, promote innovation, and ensure that the benefits of growth are shared by all. It will also require a commitment to good governance, transparency, and accountability. By working together, India can achieve its full potential and emerge as a truly 'Viksit Bharat' by 2047. The message from the ET World Leaders Forum is clear: India is ready to lead the way, not just for itself, but for the world. The focus on inclusive growth, sustainable development, and technological innovation positions India as a potential role model for other developing nations. The emphasis on multilateralism and global cooperation underscores India's commitment to working with other countries to address global challenges. The future of India is bright, and the world is watching with anticipation. The coming years will be crucial in determining whether India can realize its full potential and emerge as a truly 'Viksit Bharat' by 2047.
Source: By year-end, first Made in India chip will be out in the market, says PM Modi - top quotes