Prime Minister Narendra Modi on Friday said the world sees India as a "bright spot for growth and hope" amid concerns over global economic growth, while highlighting the government's reform agenda and policy changes aimed at improving governance and ease of living.

Speaking at the ET Global Leaders' Forum, PM Modi said India is pushing ahead with reforms across sectors and has political stability and continuity in its policies.

"India continues to take several steps to ensure continued growth momentum, reforms are our commitment," he said.

The prime minister added that the government has a clear roadmap for reforms, with a strong focus on governance, and is implementing changes at the policy and governance levels.

PM Modi said the government is changing its approach to regulation, moving from a "prohibited unless permitted" model to "permitted unless prohibited".

"Our government believes there should be no regulation for doing something that has not been explicitly prohibited under law," he said.

He said the government is not merely changing regulations but is changing the broader policy approach towards regulation.

The PM also said the relationship between the government and citizens should be based on trust rather than suspicion. "Today, we are shaping policies that are pro-people, pro-growth and pro-development," he said.

The prime minister highlighted the government's Production Linked Incentive (PLI) scheme, saying it rewards higher production with incentives.

He contrasted the approach with what he described as the "Production Linked Punishment" model followed by earlier governments. "Licence raj of earlier governments used to increase unemployment. Our production-linked incentive model [is] creating opportunities," Modi said.

He said the government had moved away from policies that kept people in scarcity and instead focused on creating opportunities through production and investment.

Modi also highlighted India's digital infrastructure, saying the country has the world's cheapest data and is working towards producing cheaper and better mobile phones.

He said the government had changed its approach towards border infrastructure, treating it as a strength rather than a weakness. "We changed picture of our border infra," the prime minister said.

He also cited reforms in Indian Railways, Delhi Metro and Namo Rapid Rail as examples of how India is adapting its infrastructure to changing times.

PM Modi said global economic conditions remain challenging, with concerns over growth and resources being "weaponized", but India continues to be viewed positively. "World has many concerns regarding growth; resources getting weaponised but India being seen as bright spot of growth," he said.

The prime minister also pointed to the government's approach to welfare and energy, saying he could have made headlines by promising free electricity but instead chose to provide free solar energy to households.

He said the government's reform agenda was aimed at sustaining India's growth momentum while improving governance and ease of living.

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