PM Modi: India’s Innovation is Reshaping the Global Economy

Prime Minister Narendra Modi, in his speech at the NXT Conclave, painted a powerful vision of India as a land of infinite innovation, transforming into the world’s new manufacturing powerhouse. He highlighted India’s meteoric rise from being perceived as merely a ‘back office’ to a global production hub, emphasizing the country’s role as not just a workforce but a world-force.

With the world’s gaze fixed on India’s 21st-century advancements, the nation is demonstrating unmatched organizational and innovative capabilities.

‘Vocal for Local’ Driving Global Recognition

PM Modi reiterated the success of his government’s ‘Vocal for Local’ campaign, a movement designed to promote homegrown products and industries. According to him, this initiative is already delivering results, as Indian-made goods are now in high demand internationally.

Millets, turmeric, and indigenous crafts have found their place in global markets, with India supplying over 60% of the world’s turmeric. Other success stories include the rise in exports of electronic products, pharmaceuticals, mobile phones, and specialty foods like Pulwama’s snow peas, Maharashtra’s Purandar figs, and Kashmir’s cricket bats.

From Semiconductors to Aircraft Carriers: India’s Manufacturing Boom

India is no longer a country that relies solely on service-based industries. The nation has made significant progress in manufacturing cutting-edge technology, including semiconductors and aircraft carriers. This shift underscores India’s capacity to build, innovate, and lead in multiple industries.

India’s manufacturing success has drawn the attention of global leaders, businesses, and economic analysts, who are now studying its growth model to replicate its achievements elsewhere.

A Historic Third-Term Victory and Continued Trust in Leadership

Addressing India’s recent electoral triumph, PM Modi proudly noted that for the first time in 60 years, a government has been re-elected for a third consecutive term.

“This trust is built on India’s extraordinary progress over the last 11 years,” he remarked, reinforcing the government’s commitment to economic and social development.

India’s AI and Climate Leadership on the Global Stage

Recognizing the importance of artificial intelligence (AI) in the modern economy, PM Modi spoke about India’s strides in AI innovation and technology. India is also making bold moves in climate action through initiatives like Mission LiFE, the International Solar Alliance, and the Coalition for Disaster Resilient Infrastructure.

These efforts highlight India’s vision to not only emerge as a technological leader but also as a responsible global citizen advocating for sustainable solutions.

Reforming Outdated Laws: A Step Toward Modernization

One of the hallmarks of India’s governance transformation has been the abolition of nearly 1,500 obsolete laws to streamline progress and remove bureaucratic hurdles.

Among them was the Dramatic Performances Act, a colonial-era law that allowed authorities to arrest individuals for dancing in public places. PM Modi pointed out that past governments had remained silent on such outdated regulations, whereas his administration has actively worked to modernize governance through the philosophy of ‘Minimum Government, Maximum Governance.’

UPI and Digital India: A Global Benchmark

India’s leadership in financial technology is another shining example of its innovative approach to global solutions. The introduction of the Unified Payments Interface (UPI) has transformed digital transactions, gaining global admiration.

Highlighting India’s influence, PM Modi mentioned Professor Carlos Montes’ praise for UPI’s efficiency, noting that countries like France, the UAE, and Singapore are now integrating the system into their financial frameworks. This underscores India’s role as an innovator in global digital infrastructure.

Beyond Manufacturing: India’s Vision for the Future

PM Modi’s speech wasn’t just about India’s manufacturing prowess—it was about a grander vision. He urged people worldwide to think of India as a global hub for multiple industries and experiences:

• Heal in India: Promoting India as a top destination for medical tourism.
• Wed in India: Encouraging couples to host weddings in India, leveraging the country’s rich cultural heritage.
• Discover India: Positioning India as a prime choice for international travel, conferences, exhibitions, and concerts.

Also Read : Sudeshna Pillarisetty: Redefining Childcare and Empowering Women in Toronto