New Delhi: Prime Minister Narendra Modi stated on Friday that the global order, which has remained in place for nearly seven decades, is undergoing a significant transformation because its foundation was built on a “one-size-fits-all” approach. Addressing the ET Now Global Business Summit (GBS) 2026 in New Delhi, the Prime Minister emphasized that India is prepared to play a key role in driving global growth amid these changes.
PM Modi noted that earlier assumptions about stable global supply chains and uniform economic models are now being reconsidered. Countries are increasingly recognizing the importance of self-reliance and diversified economic strategies in a rapidly evolving global landscape.
Reflecting on his government’s approach since coming to power in 2014, the Prime Minister said that India chose not to depend on a single economic framework. Instead, the country adopted flexible and pragmatic policies tailored to its own needs. Despite global disruptions, he said, the Indian economy has continued to advance steadily.
He highlighted that reforms in India are being accelerated not out of compulsion but conviction. Drawing a comparison with the pre-2014 period, PM Modi remarked that earlier reforms often happened only during crises. He cited the power sector as an example, stating that significant changes were introduced only after structural failures became evident.
The Prime Minister also underscored reforms in governance processes. He shared that earlier, Cabinet notes could remain pending for months. The current system ensures that files do not stay on an officer’s desk beyond a specified timeframe, requiring quicker approvals or rejections to speed up decision-making.
Additionally, PM Modi pointed to improved infrastructure development in border areas. Previously, even minor road projects required clearances from New Delhi, resulting in prolonged delays. According to him, procedural fast-tracking has enabled faster development in these strategically important regions.
Concluding his address, the Prime Minister reiterated that India’s reform momentum is rooted in a long-term vision to strengthen the economy, enhance governance efficiency, and position the country as a reliable engine of global growth in a changing world order.
Originally published on 24×7-news.com.
