That India is the talk of the global economy has been known for a while. The United Nations recently raised India's growth forecast by 70 basis points to 6.9% and the market benchmark NSE Nifty50 gained almost 24% in the last one year. A key function of running the show, as it were, lies on the bureaucracy and Prime Minister Narendra Modi in an exclusive interview with NDTV spelt out a key parameter change.
As a standard practice, Modi says Indian bureaucrats are now presenting the global standard of any subject in discussion. Modi says he expects to know how far India is from the global standard and how to get there.
"For any bill/note I get, I get a Global Standard note along with it. It says which country is doing the best in that field and what are their standards, etc. How do we reach there? What I mean is that all cabinets notes are looking at the way to reach top global standards,” the prime minister explained.
Modi's Four-S Mantra
The sheer scale and scope on offer for the and to the Indian market is immense, according to the prime minister. In a freewheeling chat with NDTV's editor-in-chief, Sanjay Pugalia, Modi, who is looking for a third consecutive term in the Lok Sabha, said that the way to be competitive globally lay in adhering to four Ss—scope, scale, speed and skill.
“The scope should be big. Second, the scale should be big too. The speed should be adequate to necessity. With that one should have skill. If we can get all four together, I think we can achieve a lot.”
The Bid For A Third Term
India is in the midst of electing its new government with four out of seven polling phases over. The fifth phase of the election will be on May 20, where key candidates include Rahul Gandhi and Smriti Irani. The financial capital of the country, Mumbai, will also cast its vote in this phase.
Modi has been the prime minister for two consecutive terms winning in 2014 and 2019. Poll pundits expect Modi's Bharatiya Janata Party to emerge as the single largest party when the results are announced on June 4.
In the interview, Modi expressed confidence of coming back to power, adding that the National Democratic Alliance, led by the BJP, will set a new record in terms of parliamentary seats won.
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