New Delhi [India], February 15 (ANI): Prime Minister Narendra Modi said on Saturday that he government has over the past decade transformed the fear of business into “ease of doing business”.
Speaking at the ET NOW Global Business Summit 2025 here, PM Modi said that India is witnessing a significant transformation related to future preparedness.
“Over the past decade, our Government has transformed the ‘fear of business’ into ‘ease of doing business'” he said
He highlighted the benefits industries have gained from the establishment of a Single Large Market through GST.
PM Modi emphasized that there has been unprecedented development in infrastructure over the past decade, leading to reduced logistics costs and increased efficiency.
He Modi pointed out that the government has eliminated hundreds of compliances and is now further reducing compliances through Jan Vishwas 2.0. To reduce government interference in society, a Deregulation Commission is also being established, he noted.
He said during the first Industrial Revolution, India was under the grip of colonial rule and during the second Industrial Revolution, while new inventions and factories emerged worldwide, local industries in India were being destroyed, and raw materials were being taken out of the country.
He pointed out that even after Independence, conditions did not change much.
When the world was moving towards the computer revolution, in India, one had to obtain a license to buy a computer, he noted. “Although India couldn’t benefit much from the first three Industrial Revolutions, the country is now ready to match steps with the world in the Fourth Industrial Revolution,” he said.
PM Modi said his government considers the private sector a crucial partner in the journey towards a Viksit Bharat”, exclaimed the Prime Minister.
He noted that many new sectors have been opened up for the private sector, such as the space sector, where many young people and startups are making significant contributions.
He highlighted that the drone sector, which was closed to the public until recently, now presents vast opportunities for the youth. The commercial coal mining sector has been opened to private firms, and auctions have been liberalized for private companies, he added.
The Prime Minister remarked that the private sector plays a significant role in the country’s renewable energy achievements, and the Government is promoting private sector participation in the power distribution sector to enhance efficiency.
He also underlined that a significant change in the recent budget is the opening of the nuclear sector for private participation.
Prime Minister remarked that today’s politics has become performance-oriented and the people of India have clearly stated that only those connected to the ground and delivering results will sustain.
He emphasized that the Government must be sensitive to people’s problems and noted that previous policymakers lacked sensitivity and willpower.
PM Modi said the Government has understood people’s issues with sensitivity and taken necessary steps with passion and enthusiasm to resolve them.
The recent budget, he said, has increased the zero tax threshold from Rs7 lakh to Rs12 lakh, strengthening the entire middle class and boosting economic activity.
“These achievements are possible due to a proactive and sensitive government,” PM Modi said. (ANI)
