India Has Become a Global Model for Growth: PM Modi

New Delhi, Nov 17 — Prime Minister Narendra Modi on Monday said that India is no longer just an emerging market but an emerging model—a nation that stands as a beacon of hope for the world by maintaining strong economic momentum despite global disruptions.

Delivering the Ramnath Goenka lecture in New Delhi, the Prime Minister noted, “The last four to five years have posed major challenges for the world, yet India has continued on a path of high growth.”

He highlighted that India has consistently recorded growth close to 7 per cent, even as global supply chains were shaken by the Covid-19 pandemic, the Russia–Ukraine conflict, and ongoing tensions in West Asia.

According to PM Modi, the “Indian growth model” is now being acknowledged internationally as a successful and scalable example.

Massive Social Security Expansion

PM Modi underscored the government’s efforts in expanding social welfare coverage. Over the last 11 years, nearly 94 crore Indians have been brought under various social security schemes—compared to only 25 crore beneficiaries in 2014.

He added that more than 28 crore people have been lifted out of poverty through targeted interventions, including the Jan Dhan financial inclusion programme, which provided bank accounts to millions who had long been excluded.

Transforming India’s Poorest Regions

The Prime Minister also spoke about the government’s push to develop the country’s most underserved regions. The 100 districts earlier labelled as “Backward Districts” have now been renamed “Aspirational Districts”, with development plans tailored to their specific needs.

He emphasized that, unlike the past—when officials were posted to these districts as a form of punishment—the government is now deploying some of its best officers to accelerate progress in these regions.

Call for Investment-Friendly Governance

PM Modi urged all state governments to foster conditions that attract investment and enhance ease of doing business, saying such efforts are vital for sustained and inclusive development.

“The nation’s progress must touch every segment of society,” he said. Citing the government’s sanitation initiative, he added that building 12 crore toilets had restored dignity to millions who once had no option but to defecate in the open.