India’s Economy Progressing Steadily: PM Modi

Prime Minister Narendra Modi said India’s economy is steadily advancing on the path of reform and growth, driven by innovation, strategic partnerships and strong ties with global allies like the United Kingdom, while emphasising the importance of academia-industry collaboration and critical sectors such as minerals and rare earths for industrial growth and energy security.

He also highlighted that India-UK trade currently stands at $56 billion, aiming to double it to $112 billion by 2030, reflecting a vision of shared prosperity, global stability and strengthened economic cooperation.

Growth Through Partnerships

Addressing the India-UK CEO Forum, PM Modi emphasised that the synergy between academia and industry will serve as a major driver for India’s innovation and economic development.

“Our economy is on the road to reform, moving forward steadily and confidently,” he said, underlining India’s expanding capabilities across critical sectors.

The Prime Minister also stressed the significance of critical minerals and rare earth elements as essential strategic areas for future trade and industrial advancement. “We will move forward keeping these sectors in mind, as they are vital to our industrial growth and energy security,” he added.

PM Modi and visiting UK Prime Minister Keir Starmer jointly attended the CEO Forum, which assembled top business and financial leaders from both nations.

During the discussions, PM Modi highlighted that India and the UK have established a robust foundation for trade and economic cooperation, thanks to the continuous efforts of policymakers and industry leaders on both sides.

“India and the UK are natural partners. Our growing partnership is an important pillar of global stability and economic progress,” PM Modi said following his meeting with Starmer at the Maharashtra Raj Bhavan.

The Prime Minister also mentioned that both nations shared perspectives on peace and stability in the Indo-Pacific and West Asia and reiterated their commitment to resolving conflicts through dialogue and diplomacy.

Highlighting bilateral trade, PM Modi noted that India-UK commerce currently stands at approximately $56 billion, with a joint ambition to double it to $112 billion by 2030.

By leveraging strategic partnerships, technological cooperation and resource security, PM Modi positioned India as a nation steadily progressing in economic reform and international engagement.

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