PM Modi Turns 75: A Decade of Economic Transformation in India
- MGMMTeam
- Sep 17
- 3 min read
As Prime Minister Narendra Modi celebrates his 75th birthday on September 17, 2025, it's an opportune moment to reflect on the significant strides India's economy has made under his leadership. From becoming the world's fourth-largest economy to implementing transformative reforms, here's an in-depth look at India's economic journey over the past decade.
Economic Growth and Global Standing
Under Modiji's leadership, India has emerged as the world's fourth-largest economy, trailing only the United States, China, and Germany. With a GDP of $4.19 trillion, India has solidified its position as a global economic powerhouse. This growth is attributed to a combination of policy reforms, increased foreign investments, and a burgeoning digital economy.
In the first quarter of fiscal year 2026, India's economy grew by 7.8%, surpassing expectations and highlighting its resilience amid global economic challenges.
Employment and Industrial Expansion
The employment sector has experienced significant strides, particularly in manufacturing and small-scale industries. The formal and informal manufacturing sectors collectively generated approximately 8.5 million jobs between 2017–18 and 2022–23. Additionally, India's micro, small, and medium enterprises (MSMEs) have been pivotal in job creation, with over 205 million jobs added over four years. Notably, 39% of these MSMEs are now women-owned, reflecting a shift towards inclusive entrepreneurship.
The PM MITRA Park in Madhya Pradesh, India's first Pradhan Mantri Mega Integrated Textile Region and Apparel Park, has attracted investments totaling ₹20,746 crore and is projected to create 3 lakh jobs, especially benefiting women and local artisans.
Trade and Export Performance
India's export sector has shown resilience and growth. In the fiscal year 2024–25, exports reached $21.2 billion, marking a 5.5% increase. The country is poised to surpass $800 billion in exports in the current fiscal year. The electronics sector has been particularly dynamic, with a 16.9% year-on-year growth in June 2025, amounting to $2.82 billion.
Union Commerce Minister Piyush Goyal announced that India anticipates a 6% growth in exports for 2025 compared to the previous year, reflecting the government's commitment to boosting foreign trade.
Startups and Innovation
The startup ecosystem in India has flourished, with over 140,000 recognized startups generating approximately 1.55 million jobs. This surge underscores the nation's growing role as a hub for innovation and entrepreneurship.
Financial Markets and Capital Formation
India's financial markets have experienced significant growth, with the market capitalization reaching a record $5.5 trillion. This expansion reflects increased investor confidence and the country's evolving role in global finance. Under Modiji's leadership, India has emerged as the world's fourth-largest capital market.
Infrastructure and Connectivity
Infrastructure development has been a cornerstone of Modiji's economic agenda. Initiatives like the construction of the world's highest tunnel at Shinkun La in Ladakh exemplify the government's commitment to enhancing connectivity and fostering economic integration.
Challenges and Areas for Improvement
Despite these achievements, challenges persist. The informal sector remains a significant portion of the economy, posing hurdles in tax collection and social security coverage. Additionally, while employment has grown, the quality and sustainability of these jobs require ongoing attention.
Looking Ahead
As India continues its economic journey, the focus is on sustaining growth, enhancing job quality, and addressing structural challenges. The government's emphasis on digitalization, infrastructure development, and inclusive growth aims to position India as a leading global economic power in the coming decades.
The MGMM Outlook
As Prime Minister Narendra Modi marks his 75th birthday, it is clear that his leadership has significantly reshaped India's economic landscape. Over the past decade, India has risen to become the world's fourth-largest economy, with a GDP of $4.19 trillion, reflecting the impact of strategic reforms, foreign investments, and a rapidly expanding digital sector. Employment growth has been noteworthy, particularly in manufacturing and MSMEs, which have collectively generated millions of jobs, including a significant share for women entrepreneurs. Landmark initiatives like the PM MITRA Park in Madhya Pradesh illustrate the government’s focus on inclusive industrial growth, directly benefiting local artisans and women workers. Exports and trade have also strengthened, with sectors like electronics showing substantial year-on-year growth and the nation poised to surpass $800 billion in exports. Meanwhile, the startup ecosystem has thrived, creating over 1.5 million jobs and reinforcing India’s position as a global hub of innovation.
Financial markets have mirrored this optimism, with market capitalization reaching a record $5.5 trillion, making India the world’s fourth-largest capital market. Infrastructure development, from high-tech transport corridors to pioneering projects like the Shinkun La tunnel in Ladakh, has enhanced connectivity and economic integration across regions. Yet, challenges persist, including the dominance of the informal sector and the need for higher-quality employment opportunities. Even so, with sustained emphasis on digitalization, infrastructure, and inclusive growth, India’s economic trajectory under Modiji suggests a nation steadily advancing toward global prominence, balancing resilience with innovation, and preparing to tackle future structural and social challenges.
(Sources: LiveMint, Moneycontrol, Economic Times)
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