India’s economic journey over the past decade under Prime Minister Narendra Modi ~ widely described as Modinomics ~ has been an extraordinary story of ambition, reform, and resilience. In 2013, India was bracketed with the “Fragile Five” economies, seen as vulnerable and unstable. In 2025, it stands proudly as the world’s fourth-largest economy, projected by global institutions such as Morgan Stanley to become the third-largest by 2028.

This transformation is not only about numbers but equally about the quality and sustainability of growth. With GDP expanding steadily at 6.5 to 7 per cent annually and inflation averaging a stable 4 per cent, India has carved a unique macroeconomic balance. In a world where advanced economies grapple with weak growth and chronic inflationary pressures, India has stood apart as a bastion of stability, attracting record foreign investment, fuelling domestic consumption, and expanding its role in global trade networks. At the core of this story is the government’s sweeping reform agenda, which has reshaped institutions and empowered citizens across every segment of society.

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A key milestone was the bold push towards universal financial inclusion. The Pradhan Mantri Jan Dhan Yojana has, by August 2025, delivered more than 56 crore new bank accounts and mobilised Rs 2.68 lakh crore in deposits. The ripple effect of this financial inclusion has been profound, drawing millions into the formal economy and creating a platform for savings, credit, and insurance coverage for the most vulnerable. Parallelly, the government’s emphasis on entrepreneurship has given rise to a new economic dynamism. Through the Pradhan Mantri Mudra Yojana, more than 52 crore loans amounting to Rs 33 lakh crore have been disbursed to small entrepreneurs and micro-enterprises.

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