Prime Minister Narendra Modi on Friday said his government is committed to structural reforms in its third term to make India a developed nation. He said India is now the fastest-growing major economy in the world and whether it’s science, technology, or innovation, the country is clearly in a sweet spot.

“The Indian economy is currently undergoing a significant transformation. With strong economic fundamentals, India is on a path of sustained high growth. Today, India is not only striving to reach the top but is also making concerted efforts to stay there. The world today offers immense opportunities across every sector,” Modi said while addressing the 3rd Kautilya Economic Conclave.

The PM said the government’s commitment towards structural reforms can be seen in the work done in the first three months of its third term. “Bold policy changes, a strong commitment to jobs and skills, a focus on sustainable growth and innovation, modern infrastructure, quality of life, and the continuity of rapid growth are reflected in the policies of our first three months. During this period, decisions amounting to over ~15 trillion have been made,” he added.

Indicating towards the ongoing Russia-Ukraine and Israel-Iran conflicts, Modi said this Conclave is being held at a time when two major regions of the world are in a state of war. “These regions are crucial for the global economy, especially in terms of energy security. Amid such significant global uncertainty, we are gathered here to discuss ‘The Indian Era’. This shows that trust in India today is unique. It demonstrates that India’s self-confidence is exceptional,” he said.