'World looking at India as bright spot of hope': PM Modi at ET World Leaders Forum

The world is currently viewing India as a beacon of growth and hope, according to Prime Minister Narendra Modi's speech at the Economic Times World Leaders Forum 2026. Addressing the gathering, Modi stated that the country's reform journey has transitioned from a punishment model under the former licence raj governments to an incentive-based approach.

He emphasized that the interconnectedness of all nations' futures is evident, as the world has experienced numerous ups and downs recently. In this context, India's guiding mantra during its G20 presidency, "One Earth, One Family, One Future," has provided solutions to many 21st-century challenges.

Modi criticized the previous licence raj governments for following a Production Linked Punishment (PLP) model, which penalized companies for increasing production. He likened today's younger generation's surprise at such a system to their reaction to the idea of punishment for producing more. The Prime Minister also highlighted the government's shift in regulatory philosophy, moving away from the "prohibited unless permitted" approach to "permitted unless prohibited."

This change aims to foster trust between the state, citizens, and businesses, rather than suspicion.

During the Monsoon Session of Parliament, the government passed the Bankers' Books Evidence Bill amidst ongoing disruptions by the Opposition. PM Modi emphasized that the focus remained on serving the country and not allowing work to stop due to opposition disruptions. He further explained that the government is not just altering regulations but transforming the entire policy of regulations.

Times Internet chairman Satyan Gajwani praised PM Modi's leadership, stating that India's political and economic stability, combined with its growth and reform trajectory, have positioned the country as a reliable force amid growing geopolitical uncertainty. Gajwani attributed this to PM Modi's policy continuity, which has provided businesses and investors with greater predictability, allowing India to play a more significant role in the evolving global order.