Prime Minister Narendra Modi's address at Shri Ram College of Commerce's centenary celebrations highlighted India's economic achievements and policy transformation. He cited India's 7.8% quarterly GDP growth achieved amid global uncertainty, West Asia war, and trade hurdles as evidence of the country's economic strength and transition from "policy paralysis to policy dynamism."
Specific economic indicators were presented: electricity production increased by 9% between April and June, while overall vehicle sales surged by over 20% driven by 20% growth in two-wheelers and nearly 30% growth in three-wheelers. Steel and cement consumption increased by 8%, indicating rapid expansion in construction, housing, and commercial activity.
The Prime Minister highlighted the success of key initiatives, noting that Jan Dhan Yojana has integrated approximately 60 crore citizens into the banking system since March 2014 when over 50% of India's 1.25 billion population lacked bank accounts. This banking inclusion formed the foundation of India's Fintech revolution.
Defense production achievements included domestic production reaching an all-time high of nearly ₹2 lakh crore, with exports exploding from ₹600-700 crore in 2013-14 to ₹40,000 crore currently. Smartphone exports now exceed ₹2.5 lakh crore, transforming India from a massive importer to a leading exporter.
Infrastructure progress was emphasized with the railway system achieving nearly 100% electrification in 12 years compared to less than 30% electrified by 2014, despite India's first electric train running in 1925. The government has signed Free Trade Agreements with 40 countries covering leather, textiles, and processed foods.
The speech positioned these achievements against the backdrop of handling severe modern crises including the COVID-19 pandemic and Russia-Ukraine war, asserting that India has defeated terrorism and restored peace from Jammu and Kashmir to the Northeast.