India moving from 'prohibited' to 'permitted' model to boost growth; world sees it as bright spot: PM Modi

India is transforming its economic model to become more growth-oriented, a shift that the world views positively, according to Prime Minister Narendra Modi. Speaking at the ET Global Leaders Forum, Modi emphasized the government's commitment to reforms across various sectors, highlighting a focus on governance, ease of living, and trust-based relationships with citizens.

Modi outlined a new approach to regulation, moving from a "prohibited unless permitted" model to a "permitted unless prohibited" model. This change aims to eliminate unnecessary regulations and foster a business-friendly environment. He contrasted this new approach with an earlier "production-linked punishment" model that led to unemployment, stating that the current production-linked incentive (PLI) scheme encourages higher production and investment.

India's digital infrastructure was also a key focus, with the country boasting the world's cheapest data and efforts to produce cheaper and better mobile phones. The government has also redefined border infrastructure, viewing it as a strength rather than a weakness. Modi provided examples of infrastructure reforms in Indian Railways, Delhi Metro, and Namo Rapid Rail to demonstrate India's adaptability to changing times.

Despite global economic challenges, Modi noted that India is still seen as a bright spot for growth. He highlighted the government's welfare and energy policies, such as providing free solar energy to households, which aim to sustain growth momentum while improving governance and ease of living.