India is fastest-growing large economy globally: PM Modi

January 12, 2026 | 16:54:15

Says the fact sheet on India's growth is a success story of the Reform-Perform-Transform mantra.

NEW DELHI: Prime Minister Narendra Modi inaugurated the Vibrant Gujarat Regional Conference for Kutch and Saurashtra Region in Rajkot, Gujarat. Addressing the gathering on the occasion, PM Modi remarked that after the beginning of 2026, this was his first visit to Gujarat. He highlighted that earlier in the morning he had the divine darshan of Lord Somnath and was now participating in the grand program at Rajkot. He stated that the mantra of “Vikas bhi, Virasat bhi” was resonating everywhere. The PM welcomed and extended greetings to all colleagues who had come from across the country and the world to attend the Vibrant Gujarat Regional Summit. 

Observing that whenever the stage of Vibrant Gujarat Summit is set, PM Modi expressed that he does not see it as just a summit but as the journey of modern India in the 21st century, which began with a dream and has now reached unshakable trust. He emphasized that in two decades, the journey of Vibrant Gujarat has become a global benchmark, with ten editions held so far, each strengthening the identity and role of the summit. 

Underlining that he has been associated with the vision of Vibrant Gujarat Summit since the very first day, PM Modi recalled that in the initial phase, the aim was to make the world aware of Gujarat’s potential, to invite people to come, invest, and thereby benefit India as well as global investors. He stressed that today the summit has moved beyond investment to become a platform for global growth, international cooperation, and partnership. The PM pointed out that over the years the number of global partners has steadily increased and the summit has become a major example of inclusion. He noted that corporate groups, cooperatives, MSMEs, start-ups, multilateral and bilateral organizations, and international financial institutions all come together here to engage in dialogue, discussion, and walk shoulder to shoulder with Gujarat’s development.

PM Modi remarked that over the past two decades, the Vibrant Gujarat Summit has consistently introduced something new and special, and the Vibrant Gujarat Regional Summit has become another example of this tradition. He highlighted that the focus of this Regional Summit is to transform the untapped potential of different parts of Gujarat into performance. PM Modi noted that some regions have the strength of a coastal line, others possess a long tribal belt, some have a large ecosystem of industrial clusters, while others carry a rich tradition of farming and animal husbandry. He emphasized that each region of Gujarat has its own strength, and the Regional Summit is advancing by focusing on these regional possibilities.

The PM observed that a quarter of the 21st century has already passed and in recent years India has made rapid progress, with Gujarat and all its people playing a major role. He stated that India is moving towards becoming the world’s third largest economy, and the data clearly shows that global expectations from India are continuously rising. PM Modi underlined that India is the fastest growing large economy, inflation is under control, agriculture production is achieving new records, India is number one in milk production, number one in generic medicine production, and the largest producer of vaccines in the world.

“India’s growth fact sheet is the success story of the mantra Reform, Perform and Transform”, underscored PM Modi, pointing out that in the past 11 years India has become the world’s largest consumer of mobile data, and UPI has emerged as the number one real-time digital transaction platform globally. He recalled that earlier nine out of ten mobile phones were imported, but today India is the world’s second largest mobile phone manufacturer. The PM added that India now has the world’s third largest start-up ecosystem, ranks among the top three countries in solar power generation, is the third largest aviation market, and has one of the top three metro networks globally.

Highlighting that today every global expert and institution is bullish on India, the PM noted that the IMF calls India the engine of global growth, S&P has upgraded India’s rating after eighteen years, and Fitch Ratings has praised India’s macro stability and fiscal credibility. He stressed that this global trust in India exists because, amid great global uncertainty, India is witnessing an unprecedented era of certainty. He underlined that India enjoys political stability, policy continuity, and an expanding neo-middle class with increasing purchasing power, making India a nation of limitless possibilities. Recalling his words from the Red Fort that “this is the time, the right time,” PM Modi emphasized that for every investor in the country and the world, this is indeed the right time to take advantage of India’s possibilities. He further stated that the Vibrant Gujarat Regional Summit is also conveying the same message to all investors—that for investment in Saurashtra-Kutch, this is the time, the right time.

PM Modi remarked that Saurashtra and Kutch are regions of Gujarat that teach us that no matter how big the challenge, if one perseveres with honesty and hard work, success is assured. He recalled that this was the same Kutch which faced a devastating earthquake at the beginning of this century, and the same Saurashtra which suffered years of drought, where mothers and sisters had to walk several kilometers for drinking water, electricity was uncertain, and difficulties were everywhere. He observed that today’s youth of 20–25 years have only heard stories of that period, when people were reluctant to stay long in Kutch or Saurashtra, and it seemed those conditions would never change. He emphasized that history is witness that time changes, and indeed it does, and the people of Saurashtra and Kutch have changed their destiny through their hard work.

Highlighting that today Saurashtra and Kutch are not just regions of opportunity but have become anchor regions of India’s growth, PM Modi stated that these regions are becoming major centers driving the Atmanirbhar Bharat campaign and play a significant role in making India a global manufacturing hub, a role that is market-driven and thus inspires investor confidence. The PM pointed out that Rajkot alone has more than 2.5 lakh MSMEs, and in its diverse industrial clusters, everything from screwdrivers to auto parts, machine tools, luxury car liners, airplane, fighter plane, and rocket components are manufactured. He underlined that this region supports the entire value chain from low-cost manufacturing to high-precision, high-technology manufacturing, and its jewelry industry is world-renowned, exemplifying scale, skill, and global linkage.

The PM remarked that Alang hosts the world’s largest ship-breaking yard, where one-third of the world’s ships are recycled, a testimony to India’s leadership in the circular economy. He noted that India is among the largest producers of tiles, with Morbi district making a major contribution, where manufacturing is both cost-competitive and globally benchmarked. PM Modi recalled that he had once said he could foresee a time when Morbi, Jamnagar, and Rajkot would together form a triangle that would become a “Mini Japan.” He remarked that at that time many had mocked his statement, but today he was witnessing that vision turning into reality before his own eyes.

Expressing pride in the Dholera Special Investment Region, which is emerging as a major center of modern manufacturing, PM Modi highlighted that India’s first semiconductor fabrication facility is being established in Dholera, giving the region an early-mover advantage in future technologies. He added that the ground is fully prepared for investment in this region, with infrastructure ready, policy predictable, and vision long-term.

PM Modi remarked that Saurashtra and Kutch are emerging as major hubs of India’s green growth, green mobility, and energy security. He highlighted that a 30 gigawatt capacity renewable energy park is being developed in Kutch, which will be the world’s largest hybrid energy park, five times bigger than Paris city. He emphasized that clean energy in this region is not just a commitment but a commercial-scale reality. The PM noted that Kutch and Jamnagar are becoming major centers for green hydrogen production, and a massive Battery Energy Storage System is also being established in Kutch to ensure grid stability and reliability alongside renewable energy.

Underlining that another great strength of Saurashtra and Kutch lies in their world-class ports, through which a large share of India’s exports pass, the PM pointed out that Pipavav and Mundra ports have become major hubs for automobile exports, with nearly 1.75 lakh vehicles exported from Gujarat’s ports last year. He stressed that beyond logistics, there are endless investment opportunities in every aspect of port-led development. PM Modi added that the Gujarat government is giving special priority to the fisheries sector, with large-scale infrastructure development and a strong ecosystem for seafood processing investors.

“Alongside infrastructure, an industry-ready workforce is the biggest requirement today”, emphasised the PM adding that Gujarat provides complete certainty to investors on this front. He highlighted that Gujarat has an international ecosystem for education and skill development. He mentioned that the Kaushalya Skill University is preparing youth with future-ready skills in collaboration with universities from Australia and Singapore. He noted that the National Defence University is India’s first national-level defence university, while Gatishakti University is preparing skilled manpower for road, railway, airway, waterways, and logistics sectors. PM Modi emphasized that investment in Gujarat comes with an assured talent pipeline. He added that many foreign universities are seeing opportunities in India, with Gujarat becoming their preferred destination, and two major Australian universities have already started campuses in the state, with more expected in the future.

The PM highlighted that Gujarat offers nature, adventure, culture, and heritage, making it a complete tourism experience. He pointed out that Lothal, symbolizing India’s 4,500-year-old maritime heritage, is home to the world’s oldest man-made dockyard, where the National Maritime Heritage Complex is being developed. He mentioned that the Rann Utsav is currently being celebrated in Kutch, with the tent city offering a unique experience. He noted that wildlife enthusiasts can visit Gir forest for the unparalleled experience of seeing Asiatic lions, which attracts more than nine lakh tourists annually. He added that those who love the sea can enjoy Shivrajpur beach, which is Blue Flag certified, along with Mandvi, Somnath, and Dwarka, which offer immense possibilities for beach tourism. He also highlighted that nearby Diu is becoming a prime destination for water sports and beach games.

Emphasising that Saurashtra and Kutch are regions full of strength and possibilities, PM Modi urged investors to take full advantage of them. He emphasized that every investment in Saurashtra-Kutch will accelerate the development of Gujarat and the progress of the nation.

PM remarked that today’s India is working rapidly towards the goal of becoming a developed nation, with the “Reform Express” playing a major role in this journey. He explained that the Reform Express signifies next-generation reforms across every sector, citing the recent implementation of next-generation GST reforms which have positively impacted all sectors, especially benefiting MSMEs. He highlighted that India has undertaken a major reform in the insurance sector by allowing 100 percent FDI, which will accelerate the campaign to provide universal insurance coverage to citizens. He noted that after nearly six decades, the income tax law has been modernized, benefiting millions of taxpayers. He emphasized that India has also implemented historic labor reforms, giving wages, social security, and industry a unified framework, thereby benefiting both workers and industry.

Highlighting that India is becoming a global hub for data-driven innovation, AI research, and semiconductor manufacturing, PM Modi underlined that with India’s rising power demand, assured energy is critical, and nuclear power is a major medium to achieve this. He pointed out that next-generation reforms have also been introduced in the nuclear power sector, with civil nuclear energy opened for private participation through the SHANTI Act, creating significant opportunities for investors.

PM Modi assured all investors present that India’s Reform Express will not stop, and the country’s reform journey has advanced towards institutional transformation. He remarked that participants are not here merely with an MoU, but to connect with the development and heritage of Saurashtra-Kutch. He concluded by assuring that every rupee invested here will yield excellent returns, extending his best wishes to all and thanking them.