PM Modi Says India is Transitioning to a Permitted Regulatory Model
· Business · LiveMint, Hindustan Times
Prime Minister Narendra Modi stated that India is shifting its regulatory framework from a prohibited unless permitted model to a permitted unless prohibited approach. Speaking at the ET Global Leaders' Forum, Modi emphasized that reforms, political stability, and policy continuity are positioning India as a global bright spot for economic growth. He contrasted the current production-linked incentive (PLI) scheme with the license raj of previous administrations, which he described as a production-linked punishment model. The prime minister stressed that government policies are designed to foster trust and create economic opportunities rather than increase scarcity.
Why it matters
Businesses and manufacturers operating in India face a streamlined regulatory environment aimed at reducing bureaucratic hurdles and boosting investments.
Read the original report — LiveMint
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