I am really happy to be here in the Hannover fair. It is an added pleasure to talk to you that too in the presence of Chancellor Merkel. Myself and Chancellor Merkel had a very good interaction over dinner last night. You also must have met a number of Indian companies and CEOs. I believe that the participation in Hannover fair would be very useful for both sides. I request you to visit the India pavillion and the stalls of our State Government and private companies.
You will be able to see for yourself the winds of change in India. We are very keen to develop the sectors where you are strong. We need your involvement. The scope and potential, the breadth and length of infrastructure and related developments is very huge in India. Just to give you some examples:
• We have planned to build 50 million houses by 2022. In addition, we are going to develop smart cities and mega industrial corridors.
• For this purpose, we have refined our FDI Policy in construction. We have also come up with a regulatory framework for this sector.
• We have targeted 175 Giga Watt of renewable energy in next few years. In addition to generation, the issues of transmission and distribution of electricity are equally important for us;
• We are modernizing our Railway systems including signals, and railway stations. We are planning metro rail in fifty cities and high speed trains in various corridors.
• Similar is the case with Highways.
• We are putting up new ports and modernizing the old ones through an ambitious plan called Sagarmala;
• Similar focus is on upgrading the existing Airports and putting up regional airports to enhance connectivity to places of economic and tourist importance.
• In financial services too, we are moving towards a more inclusive and faster delivery of financial products including bank loans and insurance.
• For this purpose, we opened 140 million bank accounts; increased FDI in insurance upto 49% and have set up MUDRA Bank.
• We also announced innovative schemes for insurance and pension to enhance social security for our citizens.
We also want to promote manufacturing in a big way particularly to create jobs for our youth. For this purpose, we have launched a campaign called “Make in India”.
All this is a historic opportunity for the German companies. You would already be knowing the direction of my Government and the steps we are taking. We have committed ourselves for creating and improving the business environment. I can assure you that once you decide to be in India, we are confident to make you comfortable.
Germany ranks 8th among foreign investor countries in India. About 600 Indo-German Joint ventures are presently operating in India. The purpose of my being here and participating in the Hannover Fair is to highlight that there is more potential in Indo-German economic collaboration. Though we have a vibrant relationship, our economic partnership is not as much as both countries would like to have. The flow of investments from Germany is well below the potential and less than Indian investments in Germany.
Many more German companies have the possibility of investing in India to take advantage of India’s potentials. The potential lies in Manufacturing as well as infrastructure and in skill development for that purpose. I know that the reason for this situation may not be from German side. It is from the Indian side also.
I am here to assure the German companies that India is now a changed country. Our regulatory regime is much more transparent, responsive and stable. We are taking a long-term and futuristic view on the issues.
Lot of efforts have been made and are still underway to improve the ‘Ease of Doing Business’ in the country.
• Reducing the complicated procedures, making them available at one platform, preferably online, simplifying the forms and formats has been taken up on war footing.
• Definite mechanisms for hand holding have been set up in the form of hub and spoke. Invest India is the nodal agency for this purpose.
We do believe that FDI is important and it will not come in the country without a globally competitive business environment. Therefore, in this year's budget we have rationalized a number of issues which were bothering you. In particular,
• We have removed lot of regressive taxation regimes. In our very first Budget, we said we will not resort to retrospective taxation. And if such issues do arise, they will have to be reviewed at the highest level. We have taken bold steps of not dragging the litigation in a few cases where we felt that the steps of the previous government were not on right lines.
• In this budget, we allowed Tax pass through for AIFs, rationalization of capital gains of REITs, modification in PE norms and deferring the implementation of GAAR for two years. We are constantly working to improve the business environment further.
• We are trying to introduce an element of transparency and predictability in taxation system.
• We have fast tracked approvals in industry and infrastructure. This includes environmental clearances, extending the industrial licences, delicencing of defence items, and simplification of cross-border trade.
• Within a very short time, we introduced GST Bill in Parliament.
Such measures have helped in building up an enhanced investor confidence. The sentiments for private investment and inflow of foreign investments are positive. FDI inflows have gone up by 36% during April-2014 and January-2015 against the same period in previous year;
Our growth rate is about 7%-plus. Most of the international financial institutions including the World Bank, IMF, UNCTAD, OECD and others are predicting even faster growth and even better in the coming years. MOODY’s have recently upgraded the rating of India as “positive” on account of our concrete steps in various economic segments.
It is the effort of my Government to encourage innovation, R&D and entrepreneurship in the country. In this year’s budget, we have set up some innovative institutional mechanisms for that purpose.
Similarly, for infrastructure development, we have taken some far reaching steps.
• First of all we have made an all-time high allocation for Roads and railways sectors.
• In addition, we are setting up India Infrastructure Investment Fund.
• We have also allowed Tax free Bonds in the Infrastructure sector including roads and railways.
I wish all success to the Hannover Messe. I also wish all participants good luck and progress. I also take this opportunity for inviting more and more German companies to India. I assure them all support from my side.
Friends! Indo-German partnership should and will flourish. I expect very good outcome from this coming together. Let us work together in mutual interest and for welfare of the people of the two great countries.
At the end, it is my advice to you to come and feel the change in India’s regulatory environment. Please do not go by old perceptions.
The symbol of lion for make in India has been chosen very carefully. We know that our biggest need today is to create jobs for our 65% population which is young. Hence, Make in India is the need. Hence, the lion because a lion cannot be stopped. We are confident that our journey to make India a global manufacturing hub cannot be stopped that too by our own rules and regulations. We must and we will make corrections wherever it is required.
Once again I invite you to India. I assure you of my personal attention in your success while you are in India.
India is not only a fast-growing economy, but also a credible one: PM Modi
June 22, 2026
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India is not only a fast-growing economy, but also a credible one: PM
Along with being a rising power, India is also a reliable power: PM
For India, Nation First is the highest guiding principle: PM
Maoist terror is breathing its last in India: PM
The shift in mindset from "this can never be done" to "this will be done" is India's greatest achievement: PM
The government is empowering the poor and middle-class: PM
The collective efforts of 140 crore Indians will realise the dream of a Viksit Bharat: PM
Swar Sadhana, Manokamana, Aradhana - after such an auspicious beginning, it would have been wonderful if your program had continued. Greetings to all of you.
I extend my regards to all viewers of Republic TV Network, which now broadcasts in many languages. I also welcome all companions who have come to participate in this summit. In 24-hour news channels, breaking news holds great importance. And nowadays, if you look anywhere in the world, the entire world seems to be in breaking news mode. Amidst such hustle and bustle, you are hosting and participating in this summit, and therefore you deserve special congratulations. This time, your theme of discussion is equally significant: Great Power India: Nation First.
Friends,
Our scriptures say: Yato Dharmastato Jayah! - meaning, the root of victory and strength is Dharma. And Dharma means duty, Dharma means justice, Dharma means equality, Dharma means dialogue, Dharma means compassion. This very essence is embedded in the spirit of Nation First. India views its power through this lens, weighing it on this scale.
Friends,
India has another unique quality, which the world has now acknowledged. We are not a nation that reacts hastily to momentary events. We are a nation that has witnessed both development and destruction, endured them as well. We are a nation with the memory chip of ages embedded in our consciousness - a nation with the memory chip of millennia. That is why what India is doing today - and I say this with full responsibility - what India is doing today will write the future of the next thousand years. This is India’s greatest guarantee to the world. India is not only a fast-growing economy, it is also a credible economy. Alongside being a rising power - and you even stretched the dictionary to call it a superpower - I would certainly say that India is a reliable power. Just a few days ago, I returned from the G7 Summit, and every leader, every country understands very well that for today’s India, Nation First is the greatest mantra, the highest principle.
Friends,
Just a few days ago, our government completed 12 years. Arnab even compelled you to clap for that. If you weigh the achievements of the past twelve years, you will find that at the core of every decision, every step, every effort lies the spirit of Nation First. From the Swachh Bharat Abhiyan to Make in India, from emphasizing khadi to encouraging local products - all these initiatives succeeded because the people of the country placed the nation above all and fulfilled their duty. I salute the citizens of this country.
Friends,
Here with us is our companion, Shri Sridhar Vembu ji. When our entrepreneurs walk with the spirit of Nation First, when they set their goals by understanding the needs of the nation, institutions are built and the country prospers. I don’t know how much has been discussed here about Shri Vembu ji’s work, but recently I went to VivaTech in France. There were nearly 1.5 to 2 lakh young people there. As I and the President of France walked through different stalls to see the innovations of the youth, we came to the Zoho stall. I was astonished and filled with pride to see the crowd of European youth gathered there, eager to understand what this new creation was. Perhaps in India it is not discussed as much, but what I saw in France was remarkable. Congratulations to you.
Friends,
The impact of Nation First in government policy and decisions can be seen in our tribal regions. I am not here to deliver philosophy, but let me share a few light examples so you can understand how work happens. I speak of tribal areas - a population of more than 100 million, the tribal society. We all know that for decades, Maoist terror had entrenched itself there. Even in the 21st century, these terrorists did not allow a single facility to reach those areas. No government vehicle could pass through; they would be riddled with bullets. Many governments came and went, generations passed, and it seemed this misfortune of violence would remain forever. You can imagine - between 2004 and 2014, in those ten years, due to Maoist terror, more than 17,000 violent incidents occurred, and nearly 7,000 lives were lost.
Friends,
For you, today’s headline or half-hour TV debate might be that Maoist terrorism has ended. But things don’t happen like that. It requires immense effort, and that is why I want to explain. Nowadays, some people keep waving the Constitution, but when they were in government, in Naxal-affected areas, even uttering the word “Constitution” could get you shot. At that time, they sat silently, their hands trembling, unable to hold up the Constitution. The Congress was hardly affected by that painful situation.
Friends,
After 2014, we moved forward with the spirit of Nation First to change the situation. We did not just talk, we did not just announce, we acted. We resolved to uproot Naxalism-Maoism completely, and today the whole country can see the result. Maoist terrorism in India is now counting its final breaths.
And friends,
Often the final outcome is so vast and significant that the hard work behind it goes unnoticed. I want to especially tell Republic TV viewers about this.
Friends,
In those Naxal-affected areas where even going out in daylight would terrify ordinary people - fearing abduction, extortion, or looting - where even speaking of development was impossible, we advanced with a pledge of progress. In the past 12 years, our government has built more than 12,000 kilometers of roads in such regions. Many times, our construction equipment was burned, contractors were chased away. If 25 people worked on a road, 200 police personnel had to guard them so the work could continue. We did all this because we had resolved to do it.
Friends,
We built more than 9,500 mobile towers. Earlier, even one tower could not be installed, and if installed, it would be destroyed. Because they always wanted to fuel anger. We brought mobile connectivity to nearly 45,000 villages. In Naxal-affected districts, more than 1,800 bank branches were opened. Around 75,000 banking correspondents and more than 6,000 new post offices were established. We did not rely only on bombs, guns, and bullets, friends - we invested every ounce of strength given by God to win hearts.
Friends,
With firm resolve, we went into Naxal-affected areas to fulfill the hopes and aspirations of ordinary people. You will be astonished - a notorious Naxalite, with a bounty of crores on his head, his mother received a ration card from us for the first time. Her son never allowed her to get one, because he wanted to run his terror regime. There are countless such incidents. I was shocked. And the government of that time sat silently, blind to the Constitution. But the result of all these efforts was a new wave of trust among the people. Today, look at Bastar - instead of bombs and guns, Bastar Olympics are celebrated with great enthusiasm. Two editions have already been held. In the first, more than 1.5 lakh youth participated, and in the second, nearly 4 lakh youth joined. Where once there was terror, now talent is finding opportunity, and sports are flourishing.
Friends,
One of the greatest achievements of these 12 years of service has been building an India filled with hope and aspiration, rising out of despair.
Friends,
Naxalism may have been concentrated in certain areas, but its pain was felt across every corner of India. And when news began to spread that Naxalism was ending, the sense of trust was not limited to those affected regions - it spread across the entire nation. In the ten years before 2014, under the Congress government, the discontent was not only about governance. The despair was far deeper. The nation had lost hope. People felt nothing could change, nothing could improve.
Friends,
In the past 12 years, India has transformed despair into hope, and this gives me the greatest satisfaction. Today, everyone feels that with a little more effort, things can be achieved. Gone are the days when the only refrain was “It cannot happen, it cannot happen.” That era has passed. Today, the spirit is “It will happen.” This new confidence is India’s true achievement, and this is real power. Challenges remain, and they always will. Challenges are shape-shifters, appearing in new forms. But whatever form they take, we will fight and we will win. When the nation moves forward with the belief that “it can be done and we will do it,” dreams are fulfilled.
Friends,
I want to speak here about more than 100 districts and over 500 blocks in India. These were left behind on every parameter of development, and earlier governments had stamped them as “backward districts” and “backward areas.” We lifted these vast regions out of the despair of backwardness and ignited aspirations for development. First, we changed their identity. We said these are “aspirational districts,” these are “aspirational blocks.” We created programs for aspirational districts and aspirational blocks, and the government began working meticulously on every parameter of development. In each district, we identified three aspects to overcome, in others six aspects, and focused efforts began. Today, these aspirational districts and blocks are driving the overall growth of states. Earlier, they dragged growth backward. These districts had large populations living in poverty and deprivation. In recent years, 250 million poor people have defeated poverty, and aspirational districts have played a major role in this.
Friends,
We see that when one person is cured of illness, it is not just that individual who recovers - the whole family feels relief. Similarly, when a son or daughter achieves something, it is not just their achievement, but the entire family is filled with pride and confidence. In the same way, when someone rises out of poverty, the entire society benefits, the nation benefits. When 250 million people have come out of poverty and entered the neo-middle class, the benefit is not limited to those families. The middle class also gains, because these are new consumers who drive the economy, ultimately creating opportunities for the middle class. Thus, poverty reduction is not merely a matter of welfare - it is a story of expanding opportunities, a source of new aspirations.
Friends,
The vast middle class that has emerged in the country over the past 12 years has been a major priority for the government. For the ease of living of the middle class, the government has worked at every level. Take the dream of owning a home. Every middle-class family desires to have their own house. In 2014, if a family wanted to buy a home, home loans came with double-digit interest rates. Today, loans are available from banks at 7–8 percent interest. Earlier, getting a loan was like winning a war, requiring immense effort. Today, it is possible from the comfort of one’s home. Here in Delhi-NCR, people know how thousands of urban middle-class homes were stuck incomplete. Families had paid their life savings to builders, who showed glossy pamphlets and dreams, but the houses were never delivered. Families had to pay rent while waiting endlessly for their homes. It was a terrible situation. To complete these stalled projects, we created a special fund of ₹25,000 crore. You will be glad to know that nearly 60,000 long-delayed homes have now been delivered across the country.
Friends,
Another aspect that affects daily life is connectivity and transport. Today, if you look at social media, tourists from around the world are amazed by our metro system.
Friends,
In 2014, about 2.8 million people traveled daily by metro. Today, nearly 12.8 million people travel by metro every day. Now, high-speed trains like Vande Bharat, Namo Bharat, and Amrit Bharat are connecting the nation. With better roads and highways, not only is time saved, but vehicle maintenance costs have also reduced. In recent years, the number of airports has doubled. This has given the middle class in many smaller cities the opportunity to fly for the first time.
Friends,
In the past 12 years, India has not only increased the earnings of the middle class but also their savings. In 2013–14, income up to about ₹2 lakh was taxable, and the middle class bore that burden. Today, income up to ₹12 lakh is tax-free. In other words, tax-free income has multiplied several times.
Friends,
GST reforms have also brought great convenience to the middle class. Filing taxes has become easier, saving both time and money. Income tax returns can now be filed from home, and even settlement issues are handled in a faceless manner.
Friends,
A major expense for middle-class families is treatment for diabetes and other lifestyle-related conditions. At Jan Aushadhi Kendras, such medicines are available at an 80 percent discount. If earlier you spent ₹1,000, today you spend only ₹200, saving ₹800. Over the years, this has resulted in savings of nearly ₹40,000 crore for countless families. Another significant portion of the middle-class budget goes toward healthcare for the elderly. Today, every citizen above 70 years of age is entitled to free treatment up to ₹5 lakh.
Friends,
It is human nature to forget past difficulties when conveniences become routine. Earlier, you paid tax on ₹2 lakh income; now, up to ₹12 lakh is tax-free. Yet applause comes only when reminded. On the other hand, if a bus or train is delayed, complaints pour in. This is the most vocal class.
Friends,
As I said, people forget old troubles. You may not even remember the difficulties once faced in getting a driving license or passport. Earlier, it was a struggle. Today, obtaining a driving license is easier, and passports are usually issued within three days.
Friends,
I know the way our government works has raised people’s aspirations. Once a demand is met, people immediately seek something better, something upgraded. If earlier the demand was for a new road, once built, the next question is: when will the metro arrive? Earlier, expectations were that trains should arrive on time and provide clean seating. Today, the demand is: why isn’t Vande Bharat running on our route?
Friends,
Some see this as dissatisfaction, but it is aspiration. In fact, even the Congress party constantly says, “Modi ji, this should happen, that should happen.” They trust that if anyone can deliver, it is this government.
Friends,
Aspirations arise only where people believe dreams can be fulfilled. This is the aspiration of India’s youth, poor, and middle class. Today, it is the driving energy of BJP-NDA governments.
Friends,
On one side, a large section of the nation is aspirational. On the other side, there is a political group whose life mantra has become “Always Against.” This group is filled with chronic dissatisfaction. Let me share some symptoms so Republic TV viewers can recognize them. They will say, “Why doesn’t this place have 24-hour electricity?” But the next day, they protest against dams, solar parks, thermal plants, or nuclear projects. One day they ask why there is no electricity, the next day they oppose power generation. These are the same people who once opposed mineral mining, but today ask where India’s rare earth mineral reserves and supply chains are, and why India doesn’t have an EV ecosystem like other countries. They once debated “data versus flour,” but now demand to know what India has done in AI. In one breath, they say AI should have advanced further, and in the next, they oppose data centers and semiconductor plants, listing endless drawbacks on social media, TV debates, and newspapers.
Friends,
These people bring up corruption indices from around the world to put India in the dock. Their ecosystem’s media amplifies it 24/7. But when action is taken against corruption, they are the first to cry foul, claiming raids and investigations are harassment. They question why action is taken now, why not then, why against A and not B. This is their game.
Friends,
It is vital for the nation to understand their character. Especially our youth, and Gen Z in particular, must recognize them quickly. Otherwise, as I say, “Suryavanshi has arrived,” and he explains swiftly.
Friends,
These people claim the armed forces lack freedom and weapons. But when the government makes a defense deal or buys modern arms, they are the first to question why. They challenge India’s diplomacy worldwide, but when India builds infrastructure projects for diplomacy and security, they protest loudly.
Friends,
At this crucial juncture, India must identify such people, understand their flawed arguments, and remain alert. Unfortunately, today the main opposition party, Congress, has been taken over by such elements. To imagine Congress speaking of Nation First, as it did in Gandhi ji’s time, is now a false dream.
Friends,
The world today is challenging old paradigms, and the scale of disruption is immense. But these challenges also bring new opportunities. Every youth, entrepreneur, innovator, and startup in India must focus on these opportunities. The government, with the spirit of Nation First, stands fully with the people. India is now riding the Reform Express. This momentum will only accelerate. From this Republic TV platform, I say again: our dreams are vast, and our efforts will be equally immense. The collective endeavor of 1.4 billion Indians will build a developed India. And I assure you, you will see this developed India with your own eyes. It will not be left for future generations to wait. With this confidence, I once again extend my best wishes to Republic TV, its viewers, and all of you. Thank you very much!
