Key Takeaways
- PM Modi urges states to compete on investment climate, ease of doing business, and development
- India’s economy shows resilience with 7% growth amid global uncertainties
- Government projects GDP growth above 6.8% for current fiscal year
- Prime Minister emphasizes pride in heritage as key to tourism growth
Prime Minister Narendra Modi has called upon state governments to compete on three critical fronts: creating better investment environments, improving ease of doing business, and advancing development parameters. Speaking at the sixth Ramnath Goenka Lecture organized by The Indian Express, Modi emphasized that development should be the highest priority for all governments, regardless of political affiliation.
Economic Resilience Amid Global Challenges
Modi highlighted India’s remarkable economic resilience during global uncertainties. The Indian economy maintained strong growth through 2022-23 despite the European crisis affecting global supply chains and energy markets. Even as conditions deteriorated in West Asia in 2023, India’s growth rate remained robust.
The Prime Minister emphasized that India’s current growth rate stands at around 7% of GDP despite global instability. The government’s Economic Survey 2024-25 had initially projected 6.3-6.8% GDP growth, but chief economic advisor V Anantha Nageswaran now expects growth to exceed 6.8%.
India as Emerging Global Model
“At a time when the world is fearful of disruption, India is confidently moving in the direction of a bright future,” said Modi. He added that “India is not just an emerging market, but also an emerging model” that the world views as a model of hope.
The Prime Minister stressed the importance of having confidence in Indian models of growth, innovation, and cultural heritage. He urged citizens to take a pledge over the next decade to liberate themselves from a colonial mindset.
Heritage Pride Essential for Tourism
Modi connected tourism development with national pride in historical heritage. He stated that in every country where tourism has flourished, people take pride in their historical legacy.
“Without pride in heritage, there is no motivation for its preservation, and without preservation, such heritage is reduced to mere ruins of brick and stone,” Modi emphasized. He identified this pride as a fundamental prerequisite for tourism growth, suggesting states should in this area.
