India has changed

December 19, 2025

Prime Minister Narendra Modi on Thursday said that India has undergone a fundamental transformation in its economic character over the past 11 years, asserting that the country has changed not just its policies but its “economic DNA”.
Addressing the India–Oman Business Summit, the Prime Minister highlighted a series of structural reforms introduced by his government, which he said have reshaped India’s growth trajectory and strengthened investor confidence. “Over the past 11 years, India has not just changed policies, India has changed its economic DNA,” Modi said, according to the media.

He pointed to landmark reforms such as the Goods and Services Tax (GST) and the Insolvency and Bankruptcy Code (IBC) as key drivers of this transformation. Modi said the implementation of GST integrated the country into a single, unified market, removing barriers between states and simplifying the taxation system. “GST transformed the whole of India into one integrated, unified market,” he noted.

Referring to the Insolvency and Bankruptcy Code, Modi said the legislation brought financial discipline into the system and improved transparency. “The Insolvency and Bankruptcy Code brought financial discipline, promoted transparency, and strengthened investor confidence,” he said, adding that these reforms have contributed to a more predictable and stable business environment.

The Prime Minister was speaking during the final leg of his three-nation tour to West Asia and Africa. He arrived in Oman on Wednesday, where his schedule included bilateral talks with Sultan Haitham bin Tariq, an address at the India–Oman Business Summit, and an interaction with the Indian diaspora.
Prior to his visit to Oman, Modi travelled to Ethiopia and Jordan as part of the same tour. The visit, according to officials, aims to deepen India’s economic and strategic engagement with key partners in the region, with a focus on trade, investment, and people-to-people ties.