'World looking at India as bright spot of hope': PM Modi at ET World Leaders Forum

Prime Minister Narendra Modi addressed the Economic Times World Leaders Forum 2026 in New Delhi on Friday, emphasizing that the world is viewing India as a "bright spot of growth and hope." In his remarks, Modi outlined how India's economic reforms have evolved from a punitive system to one that encourages innovation and enterprise. He noted that the nation's progress has been marked by a shift from a "production linked punishment" model to an incentive-driven strategy aimed at fostering sustainable development. Modi described the previous regulatory framework as one that imposed strict controls on business operations, often requiring extensive permissions for activities unless explicitly allowed. This approach, he explained, created an environment of suspicion between the government and private sector. He contrasted this with the current regulatory philosophy, which operates on the principle of "permitted unless prohibited." Under this new model, businesses can operate freely unless specific laws restrict their actions, thereby promoting greater autonomy and efficiency. He further elaborated on the transformation in India's economic policies, highlighting the transition from a system where increased production was met with penalties to one that rewards innovation and productivity. Modi pointed out that critics of initiatives like "Make in India" and "Atmanirbhar Bharat" are essentially echoing the mindset of the old licensing regime, which discouraged growth through restrictive measures. During his speech, Modi also referenced legislative efforts made during the Monsoon Session of Parliament, including the passage of the Bankers’ Books Evidence Bill. Despite opposition attempts to disrupt parliamentary proceedings, the government successfully advanced key reforms, demonstrating its commitment to continuous improvement and national development. Modi underscored the importance of international cooperation and mutual trust, stating that the future of all nations is interlinked. He cited the concept of "One Earth, One Family, One Future," which guided India's G20 presidency, as a reflection of the collective responsibility required to tackle modern-day challenges. He acknowledged the complexities of the current global situation, noting that resource conflicts and rising distrust have introduced new obstacles to international collaboration. Despite these challenges, Modi asserted that India continues to serve as a beacon of optimism and progress. He attributed this perception to the nation's steadfast focus on reform and its ability to maintain stability amidst global uncertainties. Times Internet chairman Satyan Gajwani echoed this sentiment, describing Modi as a stabilizing figure in a world characterized by frequent crises and shifting alliances. Gajwani emphasized the multifaceted nature of contemporary global disruptions, including ongoing military conflicts, energy shortages, logistical bottlenecks, and technological advancements such as artificial intelligence. These factors, he argued, have created an unpredictable environment for governments and businesses alike. However, he noted that India's consistent political and economic stability, combined with its forward-looking reform agenda, has established it as a dependable partner in navigating these turbulent times. As the forum concluded, Modi's vision of a cooperative, innovative and resilient India resonated with attendees, reinforcing the country's role in shaping the future of global governance and economic development. His insights into the evolution of India's regulatory framework and its implications for international relations offered valuable perspectives on the path forward for both domestic and global stakeholders.