Prime Minister Narendra Modi on Friday said developed nations are increasingly eager to sign trade agreements with India, reflecting the country’s growing economic strength, policy stability, and rising global stature. Addressing the Rising Bharat Summit under the theme “Strength Within,” he presented an expansive overview of India’s transformation over the past eleven years, describing it as a decisive phase of restored confidence, structural reform, and long-term planning aimed at achieving developed nation status by 2047.
He framed India’s progress not merely in economic terms but as a civilisational resurgence grounded in self-belief. Invoking the ancient philosophical principle “Tat Tvam Asi,” which teaches that the divinity one seeks externally resides within, the Prime Minister said India has rediscovered its intrinsic strength. That rediscovery, he argued, has enabled the country to move beyond incremental progress and embrace structural transformation across sectors. According to him, national potential is cultivated across generations and cannot be realised overnight. The last decade, he said, has provided renewed energy and clarity of purpose, allowing India to reclaim missed opportunities and position itself as a pivotal driver of global growth.
Economic Reforms, Digital Infrastructure and Expanding Global Confidence
The Prime Minister emphasised that India’s renewed global appeal rests on strong macroeconomic foundations and institutional reform. He said the banking system, once weighed down by stressed assets and governance challenges, has undergone a process of recapitalisation, consolidation, and transparency. These reforms have strengthened financial stability and restored confidence among investors and entrepreneurs. Inflation, he noted, has been kept within manageable levels despite global disruptions, helping protect household purchasing power and sustain domestic demand.
Manufacturing, he said, has received fresh policy impetus through a combination of improved product quality standards, targeted incentives, and a renewed focus on supply chain resilience. India’s push toward becoming a manufacturing hub is not confined to one or two sectors but extends across electronics, defence equipment, renewable energy components, and high-value industrial goods. He indicated that global companies increasingly view India as a reliable partner in diversifying production networks.
A central pillar of India’s transformation, according to the Prime Minister, has been its digital public infrastructure. The integration of Jan Dhan bank accounts, Aadhaar identification, and mobile connectivity has created what he described as a globally studied governance model. This digital ecosystem has enabled the seamless transfer of welfare benefits directly to beneficiaries’ bank accounts through the Direct Benefit Transfer system. Over Rs 24 trillion has been transferred without intermediaries, reducing leakages and enhancing transparency. He said this transformation has not only improved efficiency but has also restored trust between citizens and the state.
The expansion of financial inclusion has been accompanied by the growth of digital payments, online services, and a rapidly expanding fintech ecosystem. Millions who were previously excluded from formal financial systems are now active participants in the economy. The Prime Minister suggested that such structural inclusion strengthens the domestic market and enhances India’s attractiveness to global trade partners.
He also pointed to India’s growing role in renewable energy as evidence of responsible and forward-looking development. Solar energy capacity has expanded dramatically, and access to electricity has reached millions of families who previously lacked reliable connections. Nearly 30 million families who once faced electricity gaps have been connected to the grid. This expansion, he argued, demonstrates that growth and sustainability can progress together.
Infrastructure development, another area he highlighted, has accelerated in scale and ambition. The railway network has expanded significantly, while metro systems now operate across numerous cities, making India home to the world’s third-largest metro network. New-generation trains such as Vande Bharat and Namo Bharat represent technological advancement and modern connectivity standards. These projects, he said, are not merely transport upgrades but enablers of productivity, regional integration, and economic opportunity.
The Prime Minister suggested that the cumulative effect of financial reform, digital innovation, renewable expansion, and infrastructure modernisation has strengthened India’s credibility on the global stage. Developed nations, he said, increasingly recognise India not only as a vast consumer market but also as a dependable strategic and economic partner. Their eagerness to conclude trade agreements reflects confidence in India’s long-term stability and growth trajectory.
Innovation, Self-Reliance and the Road to Developed Nation Status by 2047
Turning to emerging technologies, the Prime Minister said India is determined to play a proactive role in shaping global frameworks around artificial intelligence. Unlike previous industrial revolutions in which India was largely a participant rather than a rule-maker, the country is now contributing to international discussions on AI governance and ethics. He described this shift as a symbol of India’s growing intellectual and technological influence.
India’s expanding start-up ecosystem was cited as evidence of a dynamic innovation culture. Thousands of start-ups are working in sectors ranging from artificial intelligence and biotechnology to clean energy and space technology. He noted that the country’s data infrastructure and digital reach create unique advantages in training AI systems and developing scalable solutions. The recent AI summit, attended by representatives from more than one hundred countries, was described as a moment of pride, underscoring India’s rising profile in global technology debates.
Long-term planning, he emphasised, remains central to India’s strategy. Sustainable development, he argued, demands patience, institutional continuity, and timely decision-making rather than short-term political calculations. Investments in semiconductor manufacturing signal India’s intent to reduce dependence on external supply chains in critical technologies. The push for green hydrogen aims to position the country at the forefront of clean energy transitions, while continued expansion in solar power strengthens energy security.
Ethanol blending initiatives have reduced crude oil imports and supported domestic agriculture. Defence production reforms have encouraged indigenous manufacturing and private participation, enabling India to become not only a significant importer but also an exporter of defence equipment. Mobile manufacturing has expanded rapidly, transforming India into one of the world’s leading producers of smartphones. Drone technology is being integrated into agriculture, logistics, and surveillance, reflecting a broader technological shift. Efforts to secure critical minerals underline a recognition that future industries depend on reliable access to raw materials.
In agriculture, the Prime Minister highlighted increased institutional support for farmers. Over Rs 28 lakh crore in loans have been extended to the agricultural sector, representing a fourfold increase over previous levels. More than Rs 4 lakh crore has been transferred directly into farmers’ accounts under the PM-KISAN scheme, strengthening rural purchasing power and financial resilience. These measures, he said, have contributed to India’s rise among leading agricultural exporting nations.
He argued that economic empowerment in rural areas creates a multiplier effect, stimulating demand for goods and services while reducing vulnerability. By combining financial assistance, infrastructure, digital access, and market linkages, India is seeking to transform agriculture from subsistence activity into a competitive and export-oriented sector.
Throughout his address, the Prime Minister returned to the theme of inner strength. He suggested that India’s progress is rooted in self-confidence rather than dependence. The rediscovery of civilisational identity, combined with institutional reform and technological ambition, has generated what he described as a new national momentum. This momentum, he said, is visible in global investor interest, diplomatic engagement, and the willingness of developed nations to deepen trade partnerships.
The goal of becoming a developed nation by 2047, the centenary of independence, was presented as both an economic and moral commitment. It requires sustained growth, social inclusion, innovation, and environmental responsibility. The Prime Minister maintained that India’s path forward rests on strengthening institutions, empowering citizens, and maintaining policy continuity. He portrayed the last eleven years as a foundational phase that has prepared the country for accelerated advancement in the decades ahead.
India’s expanding trade negotiations with developed economies, he suggested, are not isolated diplomatic events but outcomes of systemic reform and consistent governance. The country’s demographic strength, entrepreneurial culture, and expanding infrastructure form the backbone of its global appeal. By aligning economic ambition with cultural self-assurance, he argued, India is redefining its place in the international order and shaping a future in which it stands not at the margins but at the centre of global growth dynamics.
