Prime Minister Narendra Modi addressed the Economic Times World Leaders Forum in New Delhi on Saturday, emphasizing India's rapid growth and its increasing role on the global stage. Modi highlighted that India is currently the world's fastest-growing major economy and is poised to become the third-largest economy soon. Experts project that India's contribution to global growth will reach approximately 20% in the near future.

Modi attributed India's economic resilience and growth to the macroeconomic stability achieved over the past decade. He noted the declining fiscal deficit, which is expected to fall to 4.4 percent, even after the challenges posed by the COVID-19 pandemic. He also pointed to robust foreign exchange reserves, controlled inflation and interest rates, and the increasing strength of Indian banks. Indian companies are raising record funds from capital markets, and millions of domestic investors are consistently investing in the market through Systematic Investment Plans (SIPs).

The Prime Minister emphasized tangible outcomes of India's economic strength, including the Employees' Provident Fund Organisation (EPFO) recording an all-time high of 22 lakh formal jobs added in June 2025. Retail inflation has reached its lowest level since 2017, and foreign exchange reserves have hit a historic peak. India's solar PV module manufacturing capacity has surged from 2.5 GW in 2014 to 100 GW, and Delhi Airport has joined the elite group of global airports handling over 100 million passengers annually.

Modi underscored the importance of the mantra "Reform, Perform, Transform" in guiding India's growth. He stated that reforms are a matter of commitment and conviction for his government, not just a response to compulsion or crisis. He mentioned the ongoing next-generation GST reform process, which aims to simplify the law and reduce prices. This reform is expected to be completed before Diwali and will boost manufacturing, increase market demand, generate employment opportunities, and improve both ease of living and ease of doing business.

The Prime Minister also highlighted India's achievements in the energy sector. India has already achieved its 2030 target of generating 50 percent of its power from non-fossil fuels in 2025, five years ahead of schedule. Agricultural exports reached ₹4 lakh crore last year, and electronics exports have risen from ₹35,000 crore in six decades to ₹3.25 lakh crore today. Automobile exports have surged from ₹50,000 crore annually to ₹1.2 lakh crore, and India is now exporting metro coaches, rail coaches, and electric vehicles to 100 countries. A major event celebrating this milestone is scheduled for August 26.

Modi stressed the importance of research and innovation for India's progress. He noted that research and development spending has more than doubled since 2014, and patents have risen 17 times. The government has established research cells in 6000 institutions and created the National Research Foundation with a ₹1 lakh crore R&D scheme. He urged industry leaders to invest in research and innovation, particularly in sectors like clean energy, quantum technology, battery storage, advanced materials, and biotechnology.

The Prime Minister celebrated National Space Day by highlighting reforms in the space sector. India has completed over 60 missions in the last 11 years, compared to just 42 missions between 1979 and 2014. The recent achievement of space docking capability marks a significant milestone for future missions, including the Gaganyaan mission. Modi emphasized the liberalization of the space sector, transparent spectrum allocation, and a ₹1,000 crore Venture Capital Fund for space startups, noting that the number of space startups has grown from one in 2014 to over 300 today.

Modi criticized previous governments for missing opportunities in technology and industry. He affirmed that India has changed its approach and is determined not to miss any more opportunities but instead to take the driving seat and move forward. India developed its entire 5G stack domestically and is rapidly working on Made-in-India 6G technology. Semiconductor factories are being established in India, and the first domestically made chip is expected to be in the market by the end of 2025.

In conclusion, Prime Minister Modi positioned India as a beacon of hope and progress on the global stage, with the strength to "bend the course of time". He called on industry leaders to invest in research and innovation, emphasizing that India's mantra of Reform, Perform, Transform positions it to lead the world out of slow growth.