PM stresses on reforms, innovation

Prime Minister Narendra Modi has listed out a number of goals to shape growth, drive innovation, and position India as a global leader across various sectors.

In his 78th Independence Day speech, he asserted his government’s commitment to economic reforms. “The reforms serve as a kind of blueprint for our path to growth,” he said.

He also highlighted the liberalizing measures his government has introduced in the last 10 years. “We have brought big reforms on the ground. For the poor, middle class, deprived… for the aspirations of our youth, we choose the path to bring reforms in their lives. I want to assure the citizens of India that our commitment towards bringing reform is neither just for editorials, praise nor under compulsion. It is to strengthen the country.”

He specifically mentioned reforms in the banking sector. “Banks were in trouble, we made several reforms and today our banks are counted among the strongest banks in the world. This increases the strength of the formal economy.”

Saying that many global companies want to invest in India, the Prime Minister called upon state governments to compete among themselves to attract investment. “It’s a golden opportunity” to make India a hub of global manufacturing, he said, urging state governments to establish clear policies to attract investments, offer assurances of good governance, and ensure confidence in the law and order situation.

PM Modi outlined India’s commitment to becoming a global leader in semiconductor production, aiming to reduce dependency on imports and enhance technological self-sufficiency.

He also said that the country needs to work on Design In India and Design for the World.

PM Modi said that India must leverage its rich ancient legacy and literature to come up with Made in India gaming products. He added that Indian professionals must lead the global gaming market, not just in playing but also in producing games, stating that Indian games should make their mark worldwide.

In sync with the Industry 4.0 revolution, the PM said the government’s focus is on comprehensive skill development, spanning every sector, from agriculture to sanitation. Through the Skill India programme, India has ignited growth and a new momentum, he added.

Modi also emphasized on ‘Vocal for Local’ becoming the mantra of India’s economy.

With the One District, One Product programme, each district now takes pride in its produce and strives to identify its unique strengths to specialize in one particular product, aiming to boost exports, he said.

The country is also working tirelessly towards becoming Aatmanirbhar in the energy sector and combating climate change, the PM added.