New Delhi|Sept, 16: Prime Minister Narendra Modi on Wednesday called for deeper government-industry collaboration to accelerate India’s semiconductor ambitions, urging leading global and Indian companies to actively participate in the next phase of growth as the country seeks to build capabilities across the entire semiconductor value chain.
Chairing a high-level Semiconductor Roundtable with industry leaders at Seva Teerth, Modi said India should aspire to be among the early leaders in emerging technologies and stressed that the country’s growing strengths in talent, technology adoption and infrastructure provided a strong foundation for the next stage of semiconductor development.
The Prime Minister emphasised the need for greater industry participation in skilling, innovation and emerging technologies such as artificial intelligence and quantum computing. Referring to the target of training one crore people in AI, he said India’s vast talent pool, combined with the expertise and capabilities of global industry leaders, could generate significant opportunities in advanced technologies. Modi said the semiconductor ecosystem had made substantial progress and was now moving from foundational efforts towards a phase of greater scale and opportunity.
He urged industry leaders to contribute actively to this transition and share their suggestions on policy and administrative measures. Reiterating the government’s commitment to providing a predictable and responsive policy environment, Modi said policies would need to evolve in line with technological developments and the changing requirements of industry. He assured the participants that their suggestions would be given due consideration as the government works to further strengthen the sector. The interaction underscored the government’s emphasis on sustained engagement with industry as India seeks to translate investments in semiconductor manufacturing, design, infrastructure and talent into a globally competitive ecosystem.
The participating CEOs and industry representatives appreciated the Prime Minister’s leadership and the government’s sustained efforts to develop India’s semiconductor capabilities. They highlighted progress in manufacturing, chip design, infrastructure and talent development and expressed confidence in the opportunities emerging under ISM 2.0. The industry leaders also expressed confidence in India’s ability to build capabilities across the semiconductor value chain, including manufacturing, research and development, advanced technologies and supporting industries. They said they remained committed to contributing to India’s emergence as a globally competitive semiconductor and technology hub.
The roundtable was held as the government intensifies efforts to develop a comprehensive domestic semiconductor ecosystem encompassing fabrication, packaging, chip design, research, equipment and allied supply chains. The India Semiconductor Mission has been a key pillar of this strategy, with ISM 2.0 focused on expanding the scale and depth of India’s semiconductor capabilities.
The meeting was attended by CEOs, heads and representatives of leading semiconductor and technology organisations, including SEMI, Micron, Infineon, Applied Materials, ASML, Merck, Tokyo Electron Ltd, FujiFilm, AMD, Intel, Tata Electronics, Lam Research, Rapidus, NXP, Foxconn, Semiconductor Devices, Advantest, Celesta Capital, CG Power and IBM Research, among others. The government said the interaction reflected its continued focus on working closely with the semiconductor industry to strengthen India’s technological capabilities and support its wider ambitions in advanced technology and high-end manufacturing.

New Delhi| Sept, 15 : Operation Sindoor has triggered a comprehensive review and overhaul of the Indian Army’s operational capabilities, with the post-operation assessment leading to a sharper focus on force restructuring, jointness, unmanned systems, counter-drone capabilities, electronic warfare and accelerated procurement, according to the Ministry of Defence’s Annual Report 2025-26.
The report, released recently, said the operation, launched following the April 22, 2025 terror attack in Pahalgam, demonstrated the need to rapidly bridge critical capability gaps and prepare the Army for technology-intensive, multi-domain warfare. “After the operation, India has undertaken a comprehensive review of capability voids with clear focus on Force Restructuring, enhancing Jointness and integrating Emerging Technologies,” the report said. Describing Operation Sindoor as “a resounding testament” to India’s resolve against terrorism, the report said the Army delivered a “calibrated and decisive blow” deep inside Pakistan’s terror infrastructure.
“Operation SINDOOR was not just an operational success but a strategic statement,” it said, adding that the operation showcased the Army’s “multi domain capability, strategic foresight and restraint” while highlighting the importance of intelligence dominance, cutting-edge technology and joint operational readiness. The Army mobilised immediately after the Pahalgam attack and conducted brainstorming sessions to identify equipment gaps and mitigation measures from both domestic and global sources.
A special Defence Acquisition Council meeting held on May 9, 2025, approved urgent capital acquisition cases under Emergency Procurement (EP)-2025. “Based on the lessons of Phase-1 of Operation SINDOOR, a pragmatic approach is being adopted to enhance the capability of IA through induction of niche equipment,” the report said. The immediate priority areas identified included unmanned aerial systems (UAS), counter-UAS (C-UAS), loitering munitions, air defence and electronic warfare systems.
The Army also reached out to domestic and global defence manufacturers, academia and public sector undertakings to induct critical capabilities on a “War Footing”. A key lesson from Operation Sindoor was the need to rapidly build indigenous capabilities in emerging technologies. The report acknowledged the “inability of indigenous industry to offer niche products” in the UAS, C-UAS and loitering munition domains.
To address the gap, the Army moved a proposal for nine Fast Track Development Projects under ADITI and DISC. The proposal was endorsed by the Defence Secretary, with directions to the Department of Defence Production to take them up as iDEX projects. A Core Committee on UAS and C-UAS has also been constituted as an empowered body for decisions relating to the induction, proliferation and empowerment of such systems. In addition, the Army has prepared a proposal for a dedicated Special Purpose Vehicle (SPV) for UAS and C-UAS, with special financial powers to enable faster research, development and procurement.
The Army has simultaneously moved ahead with restructuring and creation of new formations. The report said new-generation equipment and force multipliers, including Rudra Brigades, Shaktibaan Regiments, Divyastra Batteries and Bhairav Battalions, have been introduced. Orders have been issued for 15 Bhairav Battalions, designed for specialised tasks in hybrid warfare and high-tempo operations.The Army has also decided to establish an Ashni drone platoon in every infantry battalion in a phased manner, by reorganising existing reconnaissance and surveillance resources to absorb niche drone technology.
The report said the experience of Operation Sindoor had reinforced the importance of combining advanced equipment with trained manpower. “Post Operation Sindoor, it has come to fore that development and acquisition of hi-tech equipment with surge capability alongwith trained human resource remains a primary requirement for strengthening our Armed Forces,” it said. The operation has also provided impetus to research and development projects aimed at building a home-grown defence ecosystem involving DPSUs, private industry and start-ups. The report said 159 of 175 ammunition variants, or nearly 91 per cent, have been indigenised.
A phased 10-year roadmap has been prepared to expand domestic production and secure stocks against supply-chain disruptions. The Army has also developed in-house drone manufacturing capacity in collaboration with SMEs, with 819 drones manufactured so far, including surveillance, kamikaze/armed and FPV drones. Another significant development is the LAKSHYA-PT precision-targeting software, developed with ADRIN, which is designed to improve target acquisition accuracy and reduce dependence on foreign agencies.

New Delhi, Sep 14: China significantly reduced the deployment of its People’s Liberation Army (PLA) forces along India’s northern borders during 2025, even as the Indian Army maintained a “robust” posture across all sectors of the Line of Actual Control (LAC), while Pakistan continued to pose a major security challenge through terrorism, infiltration and ceasefire violations in Jammu and Kashmir, according to the Ministry of Defence’s Annual Report 2025-26.
The report said there is a “significant reduction in deployment of People’s Liberation Army (PLA) Forces opposite Northern Borders”, with forces equivalent to about 10 Combined Arms Brigades deployed in areas along the LAC and traditional training areas. Despite the drawdown, the Indian Army remained “robust, well poised and prepared to deal with any emerging contingency”, underscoring that the reduction in Chinese deployment has not led New Delhi to lower its operational preparedness. The report said sustained political, diplomatic and military engagements with China during the year facilitated “positive developments along the Northern Borders, leading to stability”.
The 33rd and 34th meetings of the Working Mechanism for Consultation and Coordination were held in March and July 2025, while talks between the Special Representatives on the boundary question resumed, with rounds held in December 2024 and August 2025. The easing of tensions was also reflected in Prime Minister Narendra Modi’s visit to China for the Shanghai Cooperation Organisation summit in Tianjin in August 2025 and the 23rd Corps Commander Level Meeting in Eastern Ladakh on October 25-26. Border Personnel Meetings with the PLA also continued in a “cordial and friendly environment”, the report said. The northern border situation has remained among India’s most sensitive security theatres since the 2020 military standoff in eastern Ladakh, which triggered sustained troop deployments and a major build-up of military infrastructure on both sides.
The latest assessment indicates that while the immediate military posture has eased, the Indian Army continues to maintain substantial preparedness against any renewed contingency along the LAC. On the western front, however, the Army’s assessment remains considerably more pointed, directly identifying Pakistan as a key driver of the continuing security challenge in Jammu and Kashmir.
The report said 19 terrorists were neutralised in counter-terror operations in J&K during 2025, including eight Pakistani terrorists, accounting for around 40 per cent of the total. “The figure clearly indicates role of Pakistan in waging proxy war in the UT of J&K,” the report said, explicitly linking the presence of Pakistani terrorists to Islamabad’s continuing proxy campaign. The Pakistani role was further evident along the Line of Control, where the Army recorded six infiltration attempts during 2025 and neutralised 12 Pakistani terrorists attempting to infiltrate into Jammu and Kashmir.
While infiltration attempts declined from previous years, the report said the threat has been evolving, with terrorist activities increasingly shifting towards the International Border and involving narcotics and “war like stores”. Pakistan’s military pressure along the LoC also increased sharply during 2025. The Army recorded 163 ceasefire violations, compared with just two in 2024. As many as 124 violations occurred during Operation Sindoor, launched following the April 22 Pahalgam terror attack in which Pakistan-based terrorists killed tourists. The situation along the LoC stabilised considerably following DGMO-level talks between India and Pakistan on May 10 and 12.
However, the annual report cautioned that the apparent calm should not be mistaken for an end to the threat, stating that “unpredictability continues”. At the same time, the Army’s assessment points to a significant erosion of Pakistan’s ability to sustain a local support base for terrorism in Jammu and Kashmir. Only one local youth joined terrorist ranks in 2025, with the report saying that young people had “abandoned the path of violence” and were increasingly benefiting from government schemes and policies, thereby “discrediting Pakistan’s narrative of home-grown terrorism”.
“The awaam (public) has chosen to follow the path of development and has been actively participating in large numbers in all government and IA run initiatives,” the report said. This, according to the Army, has resulted in reduced violence, scaled-down protests and “zero incidents of stone pelting”. The assessment presents a stark contrast between the declining local support for militancy and the continuing external threat. While the local population is increasingly moving away from violence, Pakistan-backed networks continue to attempt infiltration and sustain terrorist activity, suggesting that the external push behind the proxy war remains intact.
The threat is also increasingly extending beyond conventional infiltration and small-arms movement. Along the International Border in Jammu and Kashmir, Punjab and Rajasthan, the Army recorded 863 drone intrusions, bringing a new dimension to Pakistan-linked attempts to smuggle narcotics, weapons and other war-like stores into India.
Security forces brought down 237 drones during the year. Despite the Pahalgam attack and the escalation during Operation Sindoor, the Army said the improving security environment was reflected in increased civilian activity in J&K. The union Territory recorded 23 million tourist visits and 4.13 lakh pilgrims for the Shri Amarnath Yatra in 2025, indicating growing public confidence in the security situation.

New Delhi| Sep, 12 : In a major diplomatic breakthrough for host country India, leaders of the expanded 11-member BRICS grouping unanimously adopted the New Delhi Declaration 2026 on the opening day of the 18th BRICS Summit. The consensus reflects a key victory for Prime Minister Narendra Modi, who announced that no member country had raised any objections to the joint document despite underlying geopolitical divisions. Adopted under India’s chairship with the theme “Building for Resilience, Innovation, Cooperation and Sustainability”, the declaration sets a broad agenda covering global governance, economic reform, trade, West Asia, and maritime security.
The declaration took a definitive stance on counterterrorism, specifically citing the April 22, 2025 attack in Pahalgam, Jammu and Kashmir, which claimed 26 lives.
“We express strong condemnation of any acts of terrorism as criminal and unjustifiable, regardless of their motivation, whenever, wherever and by whomsoever committed,” the declaration said. “We condemn in the strongest terms the terrorist attack in Jammu and Kashmir on 22 April 2025, during which 26 people were killed and many more injured.”
Reinforcing New Delhi’s position, the bloc called for “zero tolerance for terrorism and reject double standards” in global efforts, demanding action against cross-border movement of terrorists, terror financing, safe havens, and the expeditious finalization of the Comprehensive Convention on International Terrorism.
Marking 20 years of the bloc, the leaders reaffirmed their commitment to the “BRICS spirit of mutual respect and understanding, sovereign equality, solidarity, democracy, openness, inclusiveness, collaboration and consensus” across its political, economic, and cultural pillars. A primary focus was restructuring global governance to give emerging market and developing economies (EMDEs) a greater say in international decision-making. The leaders pledged to push for a system that is:
“more just, equitable, agile, effective, efficient, responsive, representative, legitimate, democratic and accountable”
The grouping backed an “amplified voice of the Global South” through comprehensive UN Security Council reforms. Notably, permanent members China and Russia explicitly renewed their endorsement for Brazil and India’s ambitions:
“China and Russia, as permanent members of the UN Security Council, reiterate their support to the aspirations of Brazil and India to play a greater role in the UN, including its Security Council,” the declaration said.
The declaration also called for institutional realignment at the IMF and World Bank, urging immediate execution of quota increases under the IMF’s 16th General Review and realignment under the 17th review.
Addressing global trade friction, BRICS leaders warned against protectionism, voicing “serious concerns about the rise of unilateral tariff and non-tariff measures which distort trade and are inconsistent with WTO rules”. They reiterated “unwavering support for reform of the World Trade Organization” and called for the immediate restoration of its binding dispute settlement mechanism, while condemning “the imposition of unilateral coercive measures that are contrary to international law”. On global security, leaders emphasized that “security among all countries is indivisible”. Addressing West Asia, they urged restraint, full humanitarian access to Gaza, supported a ceasefire in Lebanon, and reiterated backing for a two-state solution with a sovereign Palestinian state based on 1967 borders with East Jerusalem as its capital.
Hosting over 400 BRICS-related events across 30 cities during India’s chairship since January 1, 2026, PM Modi emphasized to attending world leaders—including Chinese President Xi Jinping and Russian President Vladimir Putin—that an evolving world cannot be governed by outdated rules. Modi stated that BRICS must move beyond declarations to concrete global actions. To mark the 20th anniversary of the grouping, India also released two commemorative postage stamps, celebrating the evolution of BRICS from a four-member coalition into a formidable global platform.

Searches were underway at several locations in Kulgam, Bandipora, Kupwara and Baramulla districts. The residences of two suspected women OGWs were also being searched, they said.

The NIA teams were assisted by local police and security personnel during the operations.

The case pertains to an alleged terror support network providing logistical and other assistance to terrorists who infiltrated Jammu and Kashmir, with links to Pakistan-based handlers. The investigation is also examining the alleged role of local OGWs associated with the proscribed terrorist organisation Lashkar-e-Taiba (LeT).

The case originated from FIR No. 24/2026 registered at Police Station Zakoora, Srinagar, and was subsequently re-registered by the NIA as RC-02/2026/NIA/JMU under Section 23 of the Unlawful Activities (Prevention) Act, 1967, Sections 7 and 25 of the Arms Act, 1959, and Section 4 of the Explosive Substances Act, 1908.

The investigation was initiated following the arrest of an alleged LeT-linked OGW during a late-night naka operation on March 31, 2026. A hand grenade and live ammunition were recovered from his possession, officials said.

During the subsequent investigation, Pakistani terrorists allegedly linked to the conspiracy were arrested, while the identities and alleged roles of members of the local support network were also established.

The latest searches follow an earlier NIA operation on August 22, when the agency searched 10 locations across Srinagar, Kupwara, Anantnag, Pulwama and Budgam in connection with the same investigation.

Further details of Saturday’s searches were awaited.

New Delhi| Sept, 11 : Prime Minister Narendra Modi on Friday called for a sharper, business-led economic integration among BRICS countries, setting out an ambitious three-part agenda to remove the bloc’s top 10 trade barriers, help 100 start-ups scale into other BRICS markets every year and create 1,000 new business partnerships annually.
Addressing the BRICS Business Forum in New Delhi ahead of the 18th BRICS Leaders’ Summit, Modi said the grouping’s expanding economic weight must translate into greater commercial engagement, innovation, investment and shared prosperity at a time when businesses worldwide are confronting trade barriers, geopolitical uncertainty and fragile supply chains.
“Strong business partnerships can open new avenues for growth, innovation and shared prosperity,” Modi said, urging corporate leaders, investors, entrepreneurs and innovators to move beyond broad declarations and deliver measurable results. The Prime Minister said BRICS had undergone a remarkable transformation since its launch in 2006, when it comprised four countries. Today, he said, BRICS and its partner countries together form a 21-country family representing about half the world’s population, 40 per cent of global GDP and more than 25 per cent of global trade.
Modi highlighted the economic acceleration of the grouping over the past two decades, noting that while global GDP had expanded around two-and-a-half times, the combined GDP of BRICS economies had grown nearly four-and-a-half times. “BRICS’ economic strength has grown at nearly twice the pace of the world,” he said, presenting the bloc as an increasingly consequential force in the global economy. He also described BRICS countries as emerging centres of innovation and solutions, with new possibilities developing across the spectrum from grassroots entrepreneurship to frontier technologies.
The New Delhi forum, he said, was the largest BRICS Business Forum held so far. For India, Modi said, the BRICS chairship was centred on “Building for Resilience, Innovation, Cooperation and Sustainability”, a theme that he linked to the country’s economic and trade policies over the past 12 years. He said India had worked to diversify and strengthen supply chains in sectors ranging from energy to technology while rapidly expanding its physical infrastructure, including roads, railways, ports and airports.
At the same time, the country was developing capabilities in strategic sectors such as shipbuilding, semiconductors, quantum technology, critical minerals and biotechnology. Pitching India as an increasingly attractive destination for manufacturing, investment and technology, Modi said the country’s proposition could be summed up in three words: “Make in India, Innovate with India, and Scale for the World.”
The Prime Minister also showcased India’s start-up ecosystem, saying the country had more than 200,000 start-ups and over 120 unicorns. Indian entrepreneurs, he said, were developing solutions in artificial intelligence, education, healthcare, green hydrogen, batteries, defence and space. He urged BRICS to build pathways through which such innovations could reach global markets, saying the “BRICS Bharat Innovates” exhibition offered a window into India’s growing technology and entrepreneurial capabilities. Modi singled out India’s digital public infrastructure as another example of innovation at population scale, citing the Unified Payments Interface as a model for expanding financial inclusion and digital transactions.
He said about half of the world’s real-time payments were taking place through technology based on UPI and argued that the open ecosystem developed around India’s digital infrastructure could offer useful experience to other BRICS countries seeking to build new digital solutions. With protectionism and economic fragmentation increasingly complicating global commerce, Modi made a strong case for lowering barriers within BRICS and expanding opportunities for businesses.
“At a time when trade barriers are rising across the world, India is building economic bridges,” he said. He said India had concluded free trade agreements with nearly 40 countries since 2014 and stressed that its approach within BRICS was similarly focused on reducing barriers and creating greater opportunities for businesses.
During India’s chairship, he said, new cooperation networks had been established in areas including agriculture, healthcare, skills and smart grids. The BRICS Incubator Network, BRICS MSME Portal and BRICS Startup Innovation Fund were among initiatives aimed at connecting start-ups and small and medium enterprises with finance and markets. Modi urged the business community to make greater use of these mechanisms and promote more cross-border flows of investment, technology and talent. He also broadened the economic agenda to include the security of maritime trade routes, arguing that the expansion of global commerce depended on safe and uninterrupted connectivity.
“Global trade can move forward only when sea lanes are secure, supply routes remain open and seafarers are safe,” Modi said, reaffirming India’s support for freedom of navigation and the safety of seafarers. The issue has particular resonance for India, given its dependence on maritime routes for a substantial share of its trade and energy supplies. Disruptions and insecurity in key waterways have demonstrated how geopolitical tensions can quickly affect shipping, supply chains, costs and economic stability.
Modi also stressed the importance of women-led businesses in the BRICS growth story, highlighting the BRICS Women’s Business Alliance and noting that nearly 200 women business leaders had participated in its meeting in India. As BRICS enters its third decade, Modi challenged the BRICS Business Council to move towards a results-oriented model of cooperation. He proposed three concrete annual benchmarks: identify and work towards removing the top 10 trade barriers among BRICS economies; help 100 BRICS start-ups scale into other member markets each year; and develop 1,000 new business partnerships annually. “These three parameters should be reviewed every year for our progress,” Modi said.
The emphasis on measurable outcomes is central to India’s effort to give a stronger economic and commercial dimension to its fourth BRICS chairship. India previously chaired the grouping in 2012, 2016 and 2021, and its 2026 presidency coincides with the 20th anniversary of BRICS and its transformation into a significantly broader grouping with an expanding footprint across the Global South.
The 18th BRICS Leaders’ Summit, scheduled in New Delhi on September 12 and 13, is taking place against a backdrop of geopolitical tensions, rising protectionism, supply-chain vulnerabilities and an intensifying debate over the future of the global economic order. For New Delhi, the business forum is also an opportunity to project India beyond its role as a vast consumer market, positioning it as a manufacturing, technology and innovation hub capable of contributing to resilient global supply chains and opening new markets for Indian enterprises.
Modi’s message was ultimately aimed at converting BRICS’ growing economic scale into practical cooperation, arguing that the bloc’s future influence would depend not merely on its collective size but on its ability to generate opportunities for businesses, entrepreneurs and people. “Let us turn BRICS’ ambition into action and our collective strength into solutions for the world,” he said.

New Delhi|Sept, 8 : Prime Minister Narendra Modi on Tuesday said India’s reform process would move at an even faster pace despite global economic uncertainties, while calling for a broader fintech revolution that goes beyond digital payments to cover credit, insurance, savings, investments and pensions.
Inaugurating the seventh edition of the Global Fintech Fest (GFF) 2026 in Mumbai, Modi said India’s structural growth momentum remained strong despite a challenging global environment and cited the country’s 7.8 per cent GDP growth in the April-June quarter as evidence of its resilience.
“India’s reform express will move forward at an even faster pace,” the Prime Minister said, asserting that India’s economic trajectory continued to inspire confidence at a time when global economies and supply chains were facing turbulence.
“The April to June quarter has been the most challenging. And even in this, when India grows by 7.8 per cent… then the world gets a new confidence,” Modi said.
He also pointed to India’s upgraded sovereign credit ratings and growing risk-taking capacity, saying these developments were strengthening confidence in the economy and giving citizens greater confidence to pursue their aspirations.
A major focus of the Prime Minister’s address was the global expansion of the Unified Payments Interface (UPI), which he described as one of the biggest champions of India’s fintech story.
He called for further expansion of UPI’s international footprint and said its growing adoption abroad had significance beyond technology and payments.
“Any global conversation about fintech is incomplete without UPI,” Modi said.
Noting that UPI is now live in 11 countries, Modi described its international expansion as a “civilisation story”, reflecting India’s growing influence in the global digital economy and its ability to develop and export scalable digital public infrastructure.
“UPI is a major champion of India’s FinTech story,” he said. At the same time, Modi stressed that India’s fintech ambitions could not remain restricted to payments.
He called for digital financial innovation to penetrate deeper into credit, insurance, savings, investments and pensions, with the aim of widening access to financial services for households, businesses and underserved sections of society.
Highlighting the scale of India’s fintech ecosystem, Modi said the sector had attracted more than USD 31 billion in investments.
He also cited the expansion of financial inclusion through the Jan Dhan initiative, saying the number of accounts had crossed 53 crore, including more than 29 crore accounts held by women.
According to the Prime Minister, the combination of digital infrastructure, fintech innovation and financial inclusion had fundamentally widened access to formal financial services and transformed the manner in which millions of Indians participate in the economy.
Looking ahead, Modi identified Agentic AI, tokenisation and quantum technologies as areas with the potential to open up new possibilities in financial services.
He urged the fintech industry to harness these emerging technologies while ensuring that innovation remained secure, trusted and inclusive. Agentic AI could facilitate more autonomous financial orchestration, tokenisation could enable new forms of programmable finance, while quantum technologies could create new possibilities in advanced encryption and financial security.
However, Modi made it clear that technological advancement must go hand in hand with stronger safeguards.
He called upon fintech companies to collectively establish ambitious industry standards, particularly in cybersecurity, data protection and consumer safety.
The Prime Minister outlined four broad priorities for the fintech ecosystem: making cybersecurity in India “top notch”, developing ethical data protection standards, creating a stronger regulator-industry innovation ecosystem and establishing a fintech consumer protection index.
His emphasis on consumer protection comes at a time when financial services are increasingly being shaped by artificial intelligence, automated decision-making, tokenised assets and other technologies that could significantly alter the delivery of credit, insurance, investments and other financial products.
Modi also called for greater collaboration between the fintech industry and regulators, arguing
that innovation should be encouraged while maintaining public confidence in emerging financial technologies.
The Prime Minister also referred to what he described as a “hat-trick” during his address.
He pointed to the Bharatiya Janata Party-led government returning to power for a third consecutive term in 2024 and noted that he was attending the Global Fintech Fest for the third consecutive year, in 2024, 2025 and 2026. His remarks underlined the government’s emphasis on fintech as a key pillar of India’s wider digital transformation and economic strategy.
Touching upon Mumbai’s cultural atmosphere, Modi noted that Ganeshotsav was just days away and invoked Lord Ganesha, traditionally remembered before auspicious occasions.
“I bow to Ganpati Bappa,” he said, while extending his greetings and best wishes to participants at the fintech gathering.
The seventh edition of the Global Fintech Fest is being held in Mumbai from September 8 to 11 under the theme, “Potential to Impact: Agentic AI, Tokenisation, Quantum – Trusted, Connected, Global Systems for Inclusive Finance.”
The four-day conference has brought together policymakers, regulators, central bank governors, financial institutions, fintech companies, technology firms, investors, academics and other stakeholders from more than 100 countries.
Since emerging as an international thought-leadership platform in 2020, GFF has provided a forum for discussions on the future of finance, with the 2026 edition focusing on how emerging technologies can translate technological potential into measurable outcomes for citizens, businesses and economies.
With Agentic AI, tokenisation and quantum technologies at the centre of deliberations, the conference is examining the changing architecture of global finance, including autonomous financial systems, programmable finance, advanced security and trusted digital financial ecosystems.
Modi’s address combined an upbeat assessment of India’s economic resilience with an expansive vision for the country’s fintech sector – from taking UPI to more countries and extending digital finance beyond payments to harnessing next-generation technologies, while making cybersecurity, ethical data use, regulatory collaboration and consumer protection central to the sector’s next phase of growth.

 “National Security Shift , Counter-Terrorism Operations Highly Commendable”

New Delhi|Sept, 5 :  Prime Minister Narendra Modi on Saturday returned to Shri Ram College of Commerce (SRCC), 13 years after his much-discussed 2013 address at the institution, and said India had since made a decisive transition from “policy paralysis” to “policy dynamism”, emerging as a faster-growing economy with greater confidence on the global stage.

Addressing the centenary celebrations of SRCC in Delhi on Teachers’ Day, Modi drew a sharp comparison between the political, economic and security environment he had described during his February 2013 visit as Chief Minister of Gujarat and what he called India’s transformed position today.

Recalling the headlines of 2013, Modi said the country was then grappling with economic distress, scams, security concerns and a sense of pessimism. “There was a state of hopelessness,” he said, referring to what he described as a period when scams were at their peak, scamsters operated without fear and terrorism remained a persistent challenge.

He said India’s approach to national security had changed significantly. “Those spreading terrorism are hunted down now. If Pakistan indulges in a nefarious act, the Indian Army enters its home and strikes,” Modi said.

The Prime Minister also claimed that the “backbone” of Maoist and Naxal violence had been broken, citing the decline of left-wing extremism as another marker of the country’s transformation.

Turning to the economy, Modi said India had travelled a long distance from the “policy paralysis” of the past.

“From policy paralysis to policy dynamism… India has come a long way,” he said.

He pointed to India’s reported 7.8 per cent economic growth, saying it had come despite global uncertainty and the ongoing conflict in West Asia.

“India’s 7.8% growth amid global uncertainty reflects its economic strength,” Modi said.

He said India was now moving at a “new pace” and that developments which previously took decades were being achieved within a few years.

“What once took decades is now happening in just a few years,” he said.

Modi also referred to India’s upgraded credit rating and robust consumer demand, arguing that the indicators reflected an economy that was not only expanding but also creating new opportunities for employment and growth.

Taking aim at those who remain critical of the government’s economic record, the Prime Minister revived the metaphor from his 2013 SRCC speech.

“For the people for whom the glass was half empty in 2013 hold the same mindset even today. For them the glass will always remain half empty,” he said.

He also referred to the “Fragile Five” label used to describe vulnerable emerging-market economies during the economic turbulence of the early 2010s.

“Those responsible for pushing the country into ‘Fragile Five’ are now unable to digest India’s 7.8 per cent growth,” Modi said.

The Prime Minister called for greater confidence in Indian businesses and entrepreneurs, saying Indian talent had already demonstrated its ability to lead major global corporations.

“If Indians can lead the world’s top companies, Indian companies can lead the world too. It is all possible,” he said.

Modi said the country’s development journey ultimately depended on the collective efforts of its citizens.

“Together, 140 crore Indians will make India both Viksit and Aatmanirbhar,” he said, referring to the government’s objective of making India a developed and self-reliant nation.

The Prime Minister also reflected on the continuing political significance of his 2013 SRCC appearance, which took place more than a year before he became Prime Minister.

Recalling the response to that speech, he said, “My 2013 speech at SRCC had become a wave, and even today, 13-14 years later, the impact of that address remains intact.”

His return to the campus during his third term as Prime Minister gave the centenary event a symbolic dimension, allowing Modi to revisit an institution where he had addressed young people at a crucial point in his political journey.

The celebrations coincided with Teachers’ Day, observed on September 5 in memory of former President and eminent educationist Dr Sarvepalli Radhakrishnan.

The occasion brought together the centenary of one of India’s leading commerce institutions with a national day dedicated to acknowledging the role of teachers and educators in shaping generations.

In a separate post on X, Modi described SRCC as an institution distinguished by academic excellence, institution-building and its contribution to public and professional life.

“Delighted to join the centenary celebrations of Shri Ram College of Commerce. Over the years, this institution has given generations of students the opportunity to learn, grow and make a difference,” he said.

The Prime Minister said the college had played an important role in nurturing generations of leaders in business, public life and society.

Established in 1926, SRCC has built a reputation as one of India’s premier institutions for commerce and economics and has produced alumni who have made their mark across business, government, academia and public life.

Modi’s emphasis on economic transformation also came in the backdrop of the 12th anniversary of the Pradhan Mantri Jan Dhan Yojana, the financial-inclusion initiative launched in 2014 to expand access to banking and formal financial services.

The Prime Minister’s address therefore combined a celebration of SRCC’s hundred-year institutional journey with a political and economic assessment of India’s trajectory since his first appearance at the college.

Revisiting his 2013 “glass half-full” argument before a new generation of students, Modi sought to reinforce his contention that India had moved from pessimism and policy paralysis to faster growth, greater economic confidence and a more assertive role in the world.