Page 45 - English 01-15 March, 2026

ET Now Summit 2026 | NATION

Some key points from address

n Along with the growth of India's economic strength,
the government has also empowered the states.
From 2004 to 2014, states received approximately
₹18 lakh crore in tax devolution, while from 2014 to
2025, they received ₹84 lakh crore. Adding this year's
budget, the total tax devolution to the states will reach
approximately ₹100 lakh crore.
n In this decade of the 21st century, India is riding on
the reform express. We are accelerating the reform
express not with compulsion... but with conviction,
with a commitment to reform.
n The budget has been made not only expenditure-
centric but also results-oriented. Before 2014, there Whether or not today’s
was a lot of discussion about off-budget borrowing, generation remains till
but now there is discussion about off-budget reforms.
n Outside the budget, next-generation GST reforms 2047, the nation and its
were implemented, the Planning Commission was future generations will,
replaced by the NITI Aayog, the wall of Article 370
was demolished, a law was enacted against triple talaq, and therefore it is the duty
and the Nari Shakti Vandan Act was enacted. Whether of the present to dedicate
announced in the budget or outside the budget, the
reform express is steadily gaining momentum. itself so that the future is
n Over the past decade, we have considered technology secure and bright
and innovation as core drivers of growth. With this
mindset, startup culture and hackathon culture have Narendra Modi, Prime Minister
been promoted in the country.

The past decade of the 21st century has witnessed but why were such agreements not possible before
unprecedented disruptions, including the global 2014? The country remains the same, the youth
pandemic, tension and wars in different regions, power remains the same, and the government
and supply chain breakdowns that shook global system remains the same, so what has changed?
balance. Despite these disruptions, this decade has Change has come in the government’s vision, in its
been marked by remarkable growth, outstanding policies and intentions, and in India’s capabilities. In
performance, and the strengthening of democracy the past decade, India has signed trade agreements
in India. PM Modi expressed pride in this regard, with 38 countries across various sectors. Today’s
stating that a country’s true strength emerges India is full of confidence and ready to compete
during difficult times. When the last decade began, globally. Over the past 11 years, a strong manu-
India was the 11th largest economy, but today it facturing system has been developed in India. This
is rapidly progressing to become the world’s third has formed the basis for a significant shift in India’s
largest. Currently, India contributes over 16% to trade policy and has become an essential pillar on
global growth. Prime Minister Modi expressed con- the journey towards a developed India. Today, the
fidence that this contribution will continue to grow country is capable and strong, and therefore, the
year after year. world trusts India. n
PM Modi noted that India’s free trade agreements Scan the QR code to view the full
are being widely discussed and analyzed globally, programme of the Prime Minister.

March 1-15, 2026 || NEW INDIA SAMACHAR 43