Development now depends on the quality of institutions and ideas: PM Modi
We now live in an age where change is constant and we are variables. We must change for both external and internal reasons: PM
Today, countries are interdependent and inter connected. No country can afford any longer to develop in isolation: PM
If India is to meet the challenge of change, mere incremental progress is not enough. A metamorphosis is needed: PM Modi
The transformation of India cannot happen without a transformation of governance: Prime Minister
A transformation of governance cannot happen without a transformation in mindset: PM
A transformation in mindset cannot happen without transformative ideas: PM Modi
We have to change laws, eliminate unnecessary procedures, speed up processes and adopt technology: PM
One of the greatest reformers and administrators of our time was Lee Kuan Yew, who transformed Singapore to what it is today: PM Modi

His Excellency Shri Tharman Shanmugaratnam, Deputy Prime Minister of Singapore
My Fellow Ministers,
Chief Ministers,
Invited speakers and friends,


There was a time when development was believed to depend on the quantity of capital and labour. Today we know that it depends as much on the quality of institutions and ideas. Early last year, a new institution was created, namely, the National Institution for Transforming India or NITI. NITI was created as an evidence based think tank to guide India’s transformation.

One of NITI’s functions is:

- to mainstream external ideas into Government policies, through collaboration with national and international experts;

- to be the Government’s link to the outside world, outside experts and practitioners;

- to be the instrument through which ideas from outside are incorporated into policy-making.

The Government of India and the State Governments have a long administrative tradition. This tradition combines indigenous and external ideas from India’s past. This administrative tradition has served India well in many ways. Above all, it has preserved democracy and federalism, unity and integrity, in a country of glorious diversity. These are not small achievements. Yet, we now live in an age where change is constant and we are variables

We must change for both external and internal reasons. Each country has its own experiences, its own resources and its own strengths. Thirty years ago, a country might have been able to look inward and find its own solutions. Today, countries are inter dependent and inter connected. No country can afford any longer to develop in isolation. Every country has to benchmark its activities to global standards, or else fall behind.

Change is also necessary for internal reasons. The younger generation in our own country is thinking and aspiring so differently, that government can no longer afford to remain rooted in the past. Even in families, the relationship between the young and old has changed. There was a time when elders in a family knew more than those who were younger. Today, with the spread of new technology, the situation is often reversed. This increases the challenge for government in communicating and in meeting rising expectations.

If India is to meet the challenge of change, mere incremental progress is not enough. A metamorphosis is needed.

That is why my vision for India is rapid transformation, not gradual evolution.

• The transformation of India cannot happen without a transformation of governance.

• A transformation of governance cannot happen without a transformation in mindset.

• A transformation in mindset cannot happen without transformative ideas.


We have to change laws, eliminate unnecessary procedures, speed up processes and adopt technology. We cannot march through the twenty first century with the administrative systems of the nineteenth century.

Fundamental changes in administrative mindsets usually occur through sudden shocks or crisis. India is fortunate to be a stable democratic polity. In the absence of such shocks, we have to make special efforts to force ourselves to make transformative changes. As individuals, we may absorb new ideas by reading books or articles. Books open the windows of our minds. However, unless we brainstorm collectively, ideas remain confined to individual minds. We often hear of new ideas and understand them. But we do not act upon them, because it is beyond our individual capacity. If we sit together, we will have the collective force to convert ideas into action. What we need is a collective opening of our minds, to let in new, global perspectives. To do this, we have to absorb new ideas collectively rather than individually. It requires a concerted effort.

As many of you know, ever since taking office, I have personally participated in structured brainstorming sessions with bankers, with police officers and with Secretaries to Government, among others. The ideas coming from those sessions are being incorporated into policy.

These efforts have been to tap ideas from inside. The next step is to bring in ideas from outside. Culturally, Indians have always been receptive to ideas from elsewhere. It is said in the Rigveda – “आ नो भद्राः क्रतवो यन्तु विश्वतः”, which means, let us welcome noble thoughts flowing in from all directions.

This is the purpose of the Transforming India Lecture Series. It is a series which we will attend, not as individuals but as part of a team who can collectively make change happen.

We will draw the best from the wisdom and knowledge of eminent persons, who changed, or influenced change in the lives of many, to make their nation a better place in the planet.

This lecture will be the first in a series. You have all been given a feedback form. I look forward to your detailed and frank feedback to help us improve this process. I request you to suggest names of experts and panelists from inside and outside India. I also request all Secretaries to Government to conduct a follow up discussion in a week’s time, with the participants from their Ministries. The purpose is to convert ideas that emerge in today’s session into specific action points relevant to each group. Wherever possible, I request the Ministers also to participate in these sessions.

One of the greatest reformers and administrators of our time was Lee Kuan Yew, who transformed Singapore to what it is today. It is therefore fitting that we are inaugurating this series with Shri Tharman Shanmugaratnam, Deputy Prime Minister of Singapore. He is a prolific scholar and public policy maker. Apart from being Deputy Prime Minister, he is also the Coordinating Minister for Economic and Social Policies, Minister of Finance and Chairman of Monetary Authority of Singapore. In the past, he has served as the Minister of Manpower, Second Minister of Finance and Minister of Education.

Shri Shanmugaratnam was born in Nineteen Fifty Seven and is of Sri Lankan Tamil ancestry. He earned his Bachelor’s degree in Economics at the London School of Economics. He has a Master’s degree in Economics from Cambridge University. He has another Master’s degree in Public Administration from Harvard University. At Harvard, he was honoured with the Littauer Fellow award for his outstanding performance.

Shri Shanmugaratnam is one of the world’s leading intellectuals. I would like to give you an example of the range and sweep of his ideas. Today, Singapore’s economy depends a lot on transshipment. But if global warming melts the polar ice caps, new navigation routes may open and possibly reduce Singapore’s relevance. I am told he has already started thinking about this possibility and planning for it.

Friends. The list of achievements and honours received by Shri Shanmugaratnam is long. But we are all eager to listen to him. Therefore, without further delay, it is with great pleasure that I welcome Shri Tharman Shanmugaratnam to this stage and request him to enlighten us on the subject of India in the Global Economy.

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PM chairs 11th Governing Council Meeting of NITI Aayog
June 11, 2026
Vision of Viksit Bharat should become the collective resolve of every State, district, block and village: PM
PM calls India's 70 crore youth its asset, urges States to transform this Demographic dividend into Development dividend
PM encourages States to create opportunities for youth and MSMEs and actively attract investments from countries with which India has signed FTAs
States to strengthen ODOP and leverage opportunities in defence manufacturing: PM
PM emphasizes that AI should be viewed as an opportunity and people should be equipped with future ready skills
PM highlights the need for coordinated efforts to address emerging social challenges such as drug abuse and cyber fraud
PM draws attention to concerns arising from El Niño and urges States to conserve water and promote natural farming
CMs/LGs/Administrators congratulate PM Modi on completing 12 years in office
States express solidarity with the Centre to withstand the global geo-political crisis and to strengthen India’s resilience
All States and 5 UTs attend meeting; first time when CMs of all 28 States participate
Theme of meeting : Inclusive Human Development for Viksit Bharat@2047

Prime Minister Shri Narendra Modi chaired the 11th Governing Council Meeting of NITI Aayog at Rashtrapati Bhavan Cultural Centre, New Delhi, earlier today. This year’s theme was Inclusive Human Development for Viksit Bharat@2047. It was attended by Chief Ministers, Lt. Governors and Administrators representing 28 States and 5 UTs. This was the first time when Chief Ministers of all 28 States participated in the Governing Council Meeting of NITI Aayog.

Prime Minister noted that at a time when many major economies are facing uncertainty and economic challenges, India’s growth story continues to inspire the world. He emphasized the need to further strengthen the nation’s resolve towards self-reliance and highlighted the importance of adopting and implementing global best practices, particularly in the renewable energy sector.

Underscoring the importance of cooperative federalism, Prime Minister stated that the Centre and the States must work together to achieve the goal of a Viksit Bharat. He stressed that the vision of Viksit Bharat should become the collective resolve of every State, district, block and village.

Highlighting the strength of India’s demographic profile, Prime Minister observed that the country’s youth constitute its greatest asset, with nearly 70 crore Indians below the age of 25 years. Calling this a demographic dividend, he urged States to focus on transforming it into a development dividend through education, skilling and capacity-building initiatives that prepare young people for future opportunities and challenges.

Referring to India’s recently concluded trade agreements with several countries, Prime Minister encouraged States to create opportunities for youth and MSMEs and to equip stakeholders to effectively leverage the benefits arising from these agreements. He also urged States to actively attract investments from partner countries.

Emphasizing women-led development, Prime Minister called upon States to work towards increasing the number of Lakhpati Didis from 3 crore to 6 crore and stressed the importance of ensuring a safe and secure environment for Nari Shakti.

Prime Minister urged States to focus on One District One Product (ODOP) initiatives and develop export-oriented strategies around it. He also identified defence manufacturing as an emerging sector where India is establishing a distinct identity and encouraged States to formulate policies to leverage the opportunities arising from its growth.

Prime Minister highlighted the need for coordinated efforts to address emerging social challenges such as drug abuse and cyber fraud through preventive measures, awareness campaigns and effective governance.

Prime Minister also drew attention to concerns arising from El Niño conditions and appealed to States to promote water conservation and encourage natural and organic farming practices. He noted that the purchase of 11 lakh tonnes of organic manure by farmers during the current Kharif season reflected growing confidence in sustainable agriculture.

Prime Minister emphasized the need to evaluate progress at the district level, particularly through aspirational district parameters. Prime Minister suggested that on similar lines, 100 districts should be identified in the field of agriculture to bring positive results. He urged the States to take lead in this pursuit so that a phenomenal change can be achieved through the aspirational approach.

Prime Minister emphasised the need for a monitoring framework and targeted 100-day and five-year goals towards achieving the vision of Viksit Bharat@2047.

Highlighting the importance of good governance, transparency, and infrastructure for attracting investment, he urged States to focus on branding, ease of doing business, and emerging opportunities in sectors such as data centres and artificial intelligence. He emphasized that AI should be viewed as an opportunity and called for greater efforts to equip people with the skills required for the future economy.

The Chief Ministers/Lt. Governors/Administrators congratulated Prime Minister Modi on completing 12 years in his office. They also expressed solidarity with the Centre to withstand the global geo-political crisis and to strengthen India’s resilience with respect to energy requirements, and sustain its growth trajectory.

Prime Minister noted that the discussions were constructive and reflected the aspirations, hopes, experiences, best practices, and challenges of the States. Prime Minister expressed his gratitude to all the CMs, LGs and Administrators for participating in the meeting and expressed confidence that Together, through cooperation, innovation, and a shared commitment to development, India can accelerate its journey towards a Viksit Bharat by 2047.