"In Industry 4.0, This is India's Time": PM Modi at NDTV World Summit

India is a beacon of hope amid global crises over economic growth, unemployment, health, and geopolitical tension over disruptions caused by COVID-19 and military conflict, Prime Minister Narendra Modi said Monday at the NDTV World Summit. "In this summit you will discuss numerous topics but, if we look at the last four or five years... one thing is common - stress about the future."

"During the coronavirus pandemic people were stressed about dealing with the virus. When that was controlled then people were worried about the economy... then climate change, the wars (in Ukraine and West Asia), global supply chains (for industries) ... these have become global worries."

"There are the challenges in front of India, but we feel a sense of positivity and that is why are here today - to discuss the 'India century'," the Prime Minister said as he delivered the inaugural address and welcomed speakers - including global heads of state - at the NDTV World Summit.

Referring to the strides India has made, the Prime Minister - who began a third term in June, after the Bharatiya Janata Party-led National Democratic Alliance won the April-June general election - called the speed and scale of that development "unprecedented".

He also listed welfare and infrastructural schemes - three crore new homes for the poor, Rs 9 lakh crore in infra projects, Rs 2 lakh crore for jobs for young people - announced by his government.

Mr Modi also pointed to a stock market that has soared seven per cent in his third term and to the country's forex reserves, which he said had now crossed the $700 billion mark.

"A lot is happening in India... India has picked up growth in our third term and global financial ratings companies have increased India's growth outlook," the Prime Minister said, as he also claimed dissatisfaction with the progress so far. "People ask me... 'Why are you working so hard? India is doing well.' Many people ask me this... but for the goals we have, we cannot be at rest."

"So, is this (what India has achieved so far) enough? My answer is no. It is not. India is a country with a young population and we have a lot to do," the PM said, haling a "change in India's vision".

In his speech the PM also seemed to take a swipe at his political opposition.

"There is a tradition... every government compares its work to the previous. We used to walk this path but, from now on, we cannot compare past and present and be happy. The metric of success from now on will be what we want to achieve... and that is a 'developed India' by 2047," he said.