India earns global praise for accelerated reforms: PM

Prime Minister Narendra Modi on Tuesday said India is being appreciated by the world for the manner in which the pace of progress has been accelerated with next-generation reforms, which are cross-sectoral and amplify the nation’s growth potential.

Making this assertion in a post on business and employment-oriented social networking platform LinkedIn, Modi said India has emerged as the centre of global attention due to the innovative zeal of its people and the world now sees India with hope and confidence.

The prime minister said he has been telling many people that India has boarded the ‘Reform Express’ and the primary engine of this ‘Reform Express’ is India’s demography, the young generation and the indomitable spirit of the country’s people.

“2025 will be remembered as a year for India when it focused on reforms as a continuous national mission, building on the ground covered over the past 11 years. We modernised institutions, simplified governance, and strengthened the foundations for long-term, inclusive growth,” he said.

Modi said the Government moved ahead decisively with higher ambition, faster execution and deeper transformation. The reforms have been about enabling citizens to live with dignity, entrepreneurs to innovate with confidence and institutions to function with clarity and trust, he said.

The prime minister also cited a few examples of the reforms undertaken that include GST, permission of 100 per cent FDI in Indian insurance companies, labour laws and rural employment guarantee.

The prime minister said clean the two-slab structure of 5 per cent and 18 per cent has been implemented in the GST and the burden has been eased on households, MSMEs, farmers and labour-intensive sectors.

“The purpose is to ensure dispute reduction and better compliance. This reform has boosted consumer sentiment and demand. Sales have grown in the festive season,” he said.

He said unparalleled relief has been given to the middle class. In a first, individuals earning up to Rs 12 lakh a year faced no income tax at all.

The Obsolete Income-tax Act of 1961 has been replaced with the modern and simple Income Tax Act, 2025. Together, these reforms mark India’s move towards a transparent, technology-driven tax administration, he said.

Modi said, giving a boost to small and medium businesses, the definition of ‘small companies’ has been expanded to include firms with turnovers up to Rs 100 crore. Compliance burdens and associated costs for thousands of companies will get reduced.

The Government allowed 100 per cent FDI in Indian insurance companies. This will give a fillip to insurance penetration and security for the people. Apart from enhanced competition, it would offer better insurance choices and improved service delivery for the people, he said. The prime minister said five landmark maritime legislations were passed in a single Parliament session (the Monsoon session): the Bills of Lading Act, 2025; the Carriage of Goods by Sea Bill, 2025; the Coastal Shipping Bill, 2025; the Merchant Shipping Bill, 2025; and the Indian Ports Bill, 2025.

These reforms simplify documentation, make dispute resolution easier and reduce logistics costs and outdated Acts dating back to 1908, 1925 and 1958 have also been replaced, he said. Historic labour reforms were initiated by merging 29 fragmented laws into four modern labour codes.

“India has created a labour framework that secures the interests of workers while boosting the business ecosystem. The reforms focus on fair wages, timely payment of wages, smoother industrial relations, social security and safer workplaces.

“They ensure greater female participation in the workforce. Unorganised workers, including contract workers, are brought under the ESIC and EPFO, expanding the coverage of the formal workforce,” he said.

Citing trade agreements with New Zealand, Oman and Britain, Modi said these will add to investments, boost job creation and also encourage local entrepreneurs. “They reinforce India’s position as a trusted and competitive partner in the global economy. The FTA with the European Free Trade Association, comprising Switzerland, Norway, Iceland and Liechtenstein, has been operationalised. This marks India’s first FTA with developed European economies,” he said. He also cited the reforms initiated in nuclear energy as the SHANTI Act is a transformational step in India’s clean-energy and technology journey.

Modi said a landmark reform was initiated in the rural employment guarantee by enacting the Viksit Bharat-G RAM G Act, 2025, under which the employment guarantee has been raised from 100 to 125 days.

This will result in increased spending towards strengthening village infrastructure and livelihoods. The aim is to turn rural work into a means to ensure higher incomes and better assets, he said.

“These reforms were designed with empathy, recognising the realities of small businesses, young professionals, farmers, workers and the middle class. They were shaped by consultation, guided by data and anchored in India’s constitutional values,” he said.

Modi said these reforms will add momentum to the country’s decade-long efforts to move away from a control-based economy to one that operates within a framework of trust, keeping the citizen at its core.

“These reforms are aimed towards building a prosperous and self-reliant India. Building a Viksit Bharat is the polestar of our development trajectory. We will continue pursuing the reform agenda in the coming years.

“I urge everyone in India and abroad to deepen their bond with the India growth story. Keep trusting India and investing in our people!” he said.