Prime Minister Narendra Modi addressed the Economic Times Global Business Summit in New Delhi recently, on the theme: New Economy – New Rules. Noting that the Union Government is going to complete four years of assuming office in a few months, he said that a definite change is now visible. He said this change in the economic and social content, represents the essence of the New Rules for the New India and the New Economy.
The Prime Minister said that within the last four years, the discourse has changed from India being a “Fragile Five” economy, to the target of India becoming a “Five Trillion Dollar” economy. The Prime Minister presented facts and figures to indicate how India is playing a key role in the entire world’s growth. He said that in nominal terms, India’s share of the world GDP has risen from 2.4% in 2013, to 3.1% in 2017. He said India is performing better on various macro-economic parameters.
The Prime Minister said that this change has come about due to a new approach and a new work culture. He said India’s competitiveness is being validated by the entire world today.
(Continued on the next page)