India’s economy on the road to reform, moving steadily: PM Modi

Mumbai, October 9 (IANS) Prime Minister Narendra Modi on Thursday said that India’s economy is moving steadily on the path of reform and growth, driven by strong partnerships, innovation, and strategic collaboration with global allies such as the United Kingdom.

Addressing the India-UK CEO Forum here, PM Modi said that the relationship between academia and industry will be the driving force of India’s innovation and economic progress.

"Our economy is on the road to reform, moving steadily and confidently," he said, highlighting India’s growing strength across critical sectors.

The Prime Minister also underlined the importance of critical minerals and rare earths as key strategic areas for future trade and development.

“We will move forward keeping these sectors in mind, as they are vital to our industrial growth and energy security,” PM Modi noted.

PM Modi and his visiting UK counterpart Keir Starmer jointly attended the CEO Forum, which brought together leading business and financial leaders from both nations.

Prime Minister Modi said that India and the UK have built a strong foundation for trade and economic cooperation, thanks to the tireless efforts of industry leaders and policymakers from both sides.

"India and the UK are natural partners. Our growing partnership is an important pillar of global stability and economic progress," PM Modi said earlier in the day after meeting with Prime Minister Starmer at the Maharashtra Raj Bhavan.

The Prime Minister added that both sides exchanged views on peace and stability in the Indo-Pacific and West Asia and reaffirmed support for restoring peace in conflict regions through dialogue and diplomacy.

He highlighted that India and the UK’s bilateral trade currently stands at around $56 billion, with a shared goal to double it to $112 billion by 2030.

"This is not just a trade agreement but a vision of shared progress and prosperity between New Delhi and London," PM Modi said.