PM Modi pledges 'big reforms', says India can lift the world out of slow growth

Prime Minister Narendra Modi on Saturday said India is the world's fastest-growing major economy and is soon set to become the third-largest globally. Pledging big reforms, he said India is today in a position to lift the world out of a slow, sluggish growth.

Speaking at a local event here, Modi said India, with its resilience and strength, stands as a beacon of hope for the world.

"Our government is infusing new energy into India's space sector. We are moving ahead with the goal of a quantum jump, not just incremental change," said the Prime Minister.

He said the government reforms were neither a compulsion nor crisis-driven, but a matter of commitment and conviction.

"It is not in my nature to be satisfied with what has already been achieved. The same approach guides our reforms...We are not among people who sit by the side of a stagnant stream and throw in pebbles. We are the people who change the course of streams," said Modi.

He said a major reform is under way in GST and would be completed by Diwali, making GST simpler and bringing down prices.

The Prime Minister also said a Viksit Bharat rests on the foundation of a self-reliant nation and work was under way on that front.

'One Nation, One Subscription' has simplified access to world-class research journals for students. Guided by the mantra of Reform, Perform and Transform, India today is in a position to help lift the world out of slow growth," Modi said amid tariff war with the US.

He said India has the strength to bend the course of time and the government was committed to "big reform."