On the 78th Independence Day of India, Prime Minister Narendra Modi called on state governments to craft clear policies and ensure robust governance to attract significant global investment.
In his first Independence Day address of his third term from the ramparts of the Red Fort and his 11th consecutive one, Modi outlined his vision of positioning India as a leading global manufacturing hub by capitalising on its extensive resources and skilled workforce.
In his speech, Modi emphasised the need for states to foster a competitive environment to draw international companies. “Many major global companies are eager to invest in India,” he said. “This is a golden opportunity for our states to step up and create an attractive investment climate.”
In the 98-minute address to the nation, his longest Independence Day speech, Modi asserted that it is India’s golden era and that a ‘Viksit Bharat’ by 2047 awaits the country.
The prime minister urged state governments to offer assurances of good governance and law and order, and to establish land banks to facilitate investment. He stressed that the central government alone cannot drive all investment efforts, as implementation occurs at the state level. “When the world is committed to investing in India, we must evolve our policies and practices to meet global expectations,” he added.
The PM also championed the “Design in India, Design for the World” initiative, urging entrepreneurs to develop products that cater to both domestic and international markets.
He highlighted the importance of elevating Indian standards to become global benchmarks, ensuring that Indian products meet international approval.
Modi’s address included a nod to recent government efforts aimed at enhancing India’s global economic standing.
The PM referenced this Union Budget’s initiatives to train the youth and position India as a global skill capital. He also stressed leveraging India’s rich cultural heritage to develop unique gaming products, advocating for Indian professionals to lead in both gaming and technology.
“We must strive for our standards to become international standards,” Modi said. “Our goal is to ensure that Indian-made products and innovations make a significant impact on the global stage.”