Overview

• Speaking at the ET World Leaders Forum, Narendra Modi said India remains the fastest-growing major economy and is poised to become the world’s third-largest soon, citing expert estimates that its share of global growth could reach about 20%.
• Modi said the fiscal deficit is expected to decline to roughly 4.4% as companies raise record capital, banks strengthen, inflation and interest rates remain low, the current account gap stays contained, and forex reserves stay robust, with steady retail SIP inflows.
• He pledged to complete a simplification of the Goods and Services Tax by Diwali, highlighted a newly rewritten Income Tax law and the Jan Vishwas Bill 2.0, and stressed ongoing ‘next‑generation’ reforms aimed at investment, jobs and ease of doing business.
• On technology and manufacturing, he said semiconductor facilities are taking shape and that the first Made‑in‑India chip is targeted to reach the market by year‑end, alongside rapid work on a domestic 6G stack.
• Underscoring India’s tech push, Modi cited over 60 space missions in 11 years, new space‑docking capability and preparations for the Gaganyaan astronaut mission, and he pointed to recent positive signals such as S&P’s sovereign upgrade as validation of resilience.