Hyderabad: Prime Minister Narendra Modi on Thursday said reform, perform and transform mantra define today’s governance in the country.
He said during the last eight years, the government with the political willpower brought reforms and they yielded results on the ground due to people’s participation.
He said this while addressing 20th anniversary celebrations and graduation ceremony of the Post Graduate Programme of Class of 2022 at the Indian School of Business (ISB) here.
Addressing students of both Hyderabad and Mohali campuses of the ISB, he said that while the need for reform was always felt in the country, there was always a lack of political willpower.
“Due to the continuous political instability in the last three decades, the country has seen a lack of political willpower for a long time. Because of this the country stayed away from reforms and from taking big decisions. Since 2014, our country is seeing political will and also, reforms are being done continuously. We have shown public support and popular support is assured when reforms are undertaken with determination and political will,” he said.
He cited the example of adoption of digital payments among people. He said in a country where banking was considered a privilege, fintech has changed the life of the common man. He pointed out that today 40 per cent of the world’s digital transactions are happening in India.
The Prime Minister noted that today, India is the fastest growing economy in the group of G20 countries. In the case of smartphone data consumers, India is at number one. India is second in the world in terms of the number of Internet users. India is also second in the world in the Global Retail Index. The world’s third largest start-up ecosystem is in India. The world’s third largest consumer market is in India.
He claimed that even amid Covid pandemic, India proved its resilience. The century’s biggest health crisis disrupted the global supply chain and the war added to the problem.
“Despite all this India is emerging as a major centre of growth today. Last year, the highest ever recorded FDI came into India. Today the world is realising that India means business.”
Modi said it was not the success of the government alone but business schools like ISB, professionals who passed out from such institutes and youth played a big role.
“Be it start-ups or traditional business, manufacturing or service sector, India youth proving they can lead the world. Today, the world is looking at India’s youth with confidence and respect,” he said.