NEW DELHI — Addressing the Economic Times World Leaders Forum 2026, Prime Minister Narendra Modi outlined India’s structural shift from restrictive governance to a trust-based, incentive-driven economic framework.
Emphasizing that the global community views India as a “bright spot of growth and hope”, the Prime Minister noted that the government has replaced the historic “Production Linked Punishment” (PLP) mindset of the License Raj with proactive Production Linked Incentive (PLI) schemes to bolster enterprise, production, and employment generation.
Core Governance Principles
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Deregulation Focus: Transitioning the regulatory framework from “Prohibited unless permitted” to “Permitted unless prohibited”.
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Compliance Reduction: Systematic decriminalization of minor offenses through initiatives like the Jan Vishwas Bill, alongside the removal of thousands of redundant compliances and obsolete laws.
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Policy Philosophy: Institutionalizing pro-people, pro-growth, and pro-development policies designed to enhance everyday “Ease of Living” and “Ease of Doing Business”.
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Economic Outlook: Sustaining momentum behind key national growth pillars—spanning manufacturing, technology, logistics, green energy, and infrastructure.
