From ‘Fragile Five’ To Global Powerhouse: PM Modi Highlights India’s Decade Of Bold Reforms

Prime Minister Narendra Modi on Friday said India has transitioned from being part of the ‘Fragile Five’ economies to becoming one of the world’s top five, crediting a decade of structural reforms across banking, taxation, and technology sectors.

Addressing the NDTV World Summit 2025 in New Delhi, PM Modi said previous governments had paralysed India with policy stagnation. “Before 2014, half of India’s population lacked a bank account. We democratised banking and opened over 50 crore Jan Dhan accounts, making financial inclusion a reality,” he stated.

The Prime Minister criticised the earlier nationalisation of banks for failing to serve the poor, remarking that his government’s initiatives had reconnected financial institutions with grassroots India. “Digital transactions have made India one of the most inclusive financial systems globally,” he added.

PM Modi further highlighted the government’s tax reforms, stating that income tax and GST measures have ensured savings worth ₹2.5 lakh crore. He said GST implementation had reduced disputes, streamlined credit flow, and driven record-breaking sales during the festive season.

Digital India and Telecom Revolution

Underscoring India’s technological progress, PM Modi lauded the transformation of BSNL and the successful deployment of India’s indigenous 4G technology stack, the Bharat Telecom Stack.

The network, operational across one lakh BSNL towers, has significantly improved rural connectivity and is now ready for global export.

Celebrating India’s dominance in the digital economy, PM Modi said, “India has proved everyone wrong. Today, 50 per cent of the world’s digital transactions take place in India.” He credited the success of the Unified Payments Interface (UPI) for positioning the nation as a leader in fintech innovation.

The Prime Minister concluded that the nation’s transformation reflects resilience, innovation, and the determination to redefine its global standing. “This is not just India’s decade, it is India’s moment,” he affirmed.

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