Text of PM’s Address at the Economic Times World Leaders Forum 2026

Key Highlights:

• Prime Minister addressed the Economic Times World Leaders Forum 2026, emphasizing a "Shared Future" and India's G20 mantra of One Earth, One Family, One Future.
• India is highlighted as a "bright spot" for growth, having lifted 25 crore people out of poverty in the last 10-12 years.
• The government is focusing on Sapt-Dhara (seven sectors) for future growth, including manufacturing, technology, and green economy.
• A shift from "Production Linked Punishment" (PLP) to Production Linked Incentive (PLI) Scheme has resulted in ₹2.5 lakh crore investment and 14 lakh jobs.
• Governance reforms include changing the regulatory philosophy to "Permitted unless prohibited" and passing the Jan Vishwas (Amendment of Provisions) Bill.
• Significant improvements in railways include a 90% reduction in train accidents and the installation of over 3.6 lakh bio-toilets since 2014.
• The PM Surya Ghar Muft Bijli Yojana has benefited over 50 lakh families by promoting rooftop solar installations.

Detailed Insights:

• The International Monetary Fund (IMF) forecasts India to remain the world's fastest-growing major economy.
• Sapt-Dhara encompasses manufacturing, technology, innovation, food processing, green economy, and blue economy.
• The historical "Production Linked Punishment" (License Raj) model penalized excess production, hindering growth and employment.
• The PLI Scheme has generated over ₹22 lakh crore in production/sales and ₹15 lakh crore in exports.
• Governance reforms have led to the removal of over 40,000 compliances and 1,500 obsolete laws, easing the burden on industries.
• The Bankers Book Evidence Bill legalizes digital bank records, enhancing transparency and Ease of Doing Business.
• Railway safety has improved through electronic interlocking at 6,500+ stations and elimination of un-manned crossings.
• Punctuality of Delhi-Meerut Namo Bharat Rapid Rail and Delhi Metro stands at 99.9%, comparable to global standards.
• Policy reforms include deregulation of geospatial data and drone rules, fostering innovation and new industries.
• Border infrastructure development is now seen as a strength, with Border Roads Organisation (BRO) dedicating 250 projects in 2024-25.
• Nuclear Reforms have opened the sector to private participation, and defense exports have increased 55 times since 2014.
• Ease of Living has improved with the world's cheapest data, rapid 5G rollout, Aadhaar-linked services, and digital payments (UPI).
• e-Sanjeevani platform has facilitated over 50 crore tele-consultations, bringing healthcare to remote areas.
• Digi Yatra and FASTag are enhancing travel experience by reducing wait times and streamlining processes.
• PM KUSUM Yojana supports farmers with solar power, while PM Surya Ghar Muft Bijli Yojana empowers middle-class families to generate and sell surplus electricity.

Key Concepts Involved:

• Sapt-Dhara: A government initiative identifying seven key sectors for India's accelerated economic growth and development.
• Production Linked Incentive (PLI) Scheme: A government scheme offering incentives to companies on incremental sales from products manufactured in India.
• Jan Vishwas (Amendment of Provisions) Bill: Legislation aimed at decriminalizing minor offenses across various laws to promote ease of living and doing business.
• PM Surya Ghar Muft Bijli Yojana: A government scheme promoting rooftop solar installations to provide free electricity to households and enable them to earn from surplus power.