0:01 >> It's a big bold subject that we are taking up today.
0:07 And I want to start with a very basic simple question.
0:12 What is New India?
0:18 It is not a slogan or a PR line.
0:23 It is a reality that is taking shape before our very eyes.
0:28 New India is digital, confident, global.
0:35 New India is 1.4 billion people.
0:40 It's the largest democracy on Earth, the fastest-growing major economy,
0:46 the youngest population in the world, perhaps also the most impatient.
0:54 We are a startup nation.
0:56 We are a space power, and we are a voice in the global South.
1:03 A country that negotiates with Washington, trades with Moscow, competes with China,
1:16 >> >> deals with Tokyo, and still finds time to send mangoes to West Asia.
1:27 >> >> New India does not ask for a seat at the table.
1:30 We build the table and tell the world to join.
1:38 >> >> And whatever I've said so far is not rhetoric.
1:42 It is our reality which is reflected in our numbers.
1:48 And I'm a big fan of storytelling with numbers.
1:52 Last quarter our GDP grew at 7.8%.
2:01 And this happened at a time when the US is staring at a slowdown.
2:06 You must have seen the latest Fitch report.
2:10 It also happened at a time when Europe is flirting with recession.
2:14 When China is struggling with the weight of its debt burden.
2:20 India is running.
2:27 >> >> Last month UPI crossed 20 billion transactions.
2:31 Total value more than 24 lakh crore rupees.
2:37 It's a world record and we are far from done.
2:43 India is the world's fourth largest economy.
2:46 On course to becoming the third largest by 2027 behind just US
2:50 and China ahead of Germany
2:52 and Japan.
2:55 And our story, ladies and gentlemen, is not just about size.
3:00 It is about scale, scope, and speed.
3:07 Our digital economy is exploding.
3:11 Our space mission is landing near the South Pole of the moon.
3:17 Our startups are valued in billions.
3:19 We have more than 100 unicorns now in our country.
3:25 Our diaspora remittances crossed 135 billion dollars last year.
3:30 The highest in the world.
3:34 This is new India.
3:37 A country once written off
3:38 as a basket case is today called a bright spot in the global economy.
3:50 >> >> So, what makes New India tick?
3:56 I can think of five D's.
4:00 My first D is demography.
4:03 Half our population is under 30 years of age.
4:07 Yes, they spend too much time on Instagram.
4:12 They also want a promotion in the first month in office.
4:18 But they're ambitious.
4:21 They're unafraid.
4:23 They're entrepreneurial.
4:25 They're hungry to make a mark,
4:26 and that is our strength that we must celebrate.
4:34 My second D is democracy.
4:38 In a world that is drifting towards authoritarianism, India stands out.
4:45 We are very chaotic.
4:46 We argue, we disagree, we protest, we vote.
4:50 But we move on.
4:51 We've always had a peaceful transition of power.
4:57 And sometimes it feels like democracy is slowing us down.
5:05 But we must remember that democracy is also what saves us.
5:08 It is what makes us who we are, a noisy,
5:12 chaotic family of 1.4 billion people.
5:19 >> >> The third D on my list is diversity. 22 official languages, hundreds of dialects,
5:30 and every religion under the sun.
5:36 India is not a melting pot.
5:39 We are a very big thali, where every dish retains its unique taste,
5:46 and together it makes a meal.
5:54 >> >> The fourth D is digital power.
5:58 From Aadhaar to UPI, India is building a digital public infrastructure at scale.
6:06 We have shown that technology can deliver inclusion and in such large numbers.
6:16 My fifth D is diaspora. 35 million Indians abroad.
6:21 Policy makers, CEOs of global giants, doctors, engineers, entrepreneurs, they are India's brand ambassadors.
6:32 No PR agency can match them.
6:37 Now, if you put these five D's together, demography, democracy, diversity, digital power, diaspora,
6:47 >> >> what you get is a country that is not just a regional player,
6:51 it is a global power.
6:57 >> >> Not just a market, but a shaper of rules.
7:02 Not just a voice, but an agenda setter.
7:12 But we cannot operate in isolation,
7:13 so we have to step out of our borders, look at our neighborhood,
7:18 and look at our world.
7:22 Our world is changing fast, unpredictably, and often chaotically.
7:29 American unipolarity is over.
7:33 Chinese ascendancy is facing headwinds.
7:37 Europe is struggling for relevance.
7:41 Russia is gambling with aggression.
7:46 West Asia remains a powder keg.
7:51 Africa is demanding long overdue attention.
7:55 Latin America is looking for partners.
7:59 The institutions created after the Second World War are showing their age.
8:03 Today, the United Nations Security Council does not reflect the realities of 2025.
8:09 It reflects the realities of 1945.
8:19 >> >> The World Trade Organization is struggling to function.
8:22 The IMF and the World Bank face questions of legitimacy.
8:29 Technology is redrawing power maps faster than diplomats can update their talking points.
8:37 Artificial intelligence quantum computing, biotechnology, these are not buzzwords.
8:45 These are the new currencies of global influence.
8:49 Climate change, it does not respect national borders.
8:53 It does not respect protocol.
8:56 It creates new vulnerabilities, new conflicts, new migration patterns.
9:02 And everywhere nationalism is resurgent, not always in the best way.
9:09 The promise of borderless globalization has given way to strategic patriotism.
9:18 This is not a stable world order.
9:21 This is a world in transition where rules are being rewritten,
9:27 power is being redistributed, and alliances are being reconsidered.
9:35 And for decades, India was a recipient of these changes.
9:39 We adapted to what the world decided and did.
9:45 But today we have the opportunity and why just opportunity?
9:49 I would say today we have the responsibility to shape our world ourselves.
9:58 So the question is how do we do that?
10:02 We do it with a domestic policy
10:05 that does justice to our talent
10:07 and our aspirations.
10:10 And a foreign policy that is bold, agile, and unapologetic.
10:24 >> >> Look at the G20 in Delhi.
10:26 India was a chair last year.
10:29 We put the global south at the center of the conversation.
10:34 Look at BRICS.
10:35 Look at the Quad.
10:37 Look at the SCO.
10:39 India is part of all these clubs.
10:45 Sometimes competing, sometimes cooperating, always balancing, and always consequential.
10:56 And this is new India's foreign policy.
10:58 It is not non-alignment.
11:00 It is multi-alignment.
11:00 >> >> We engage with everyone, but we depend on no one.
11:18 >> >> And our biggest commitment is to our national interest.
11:29 >> >> And it's not easy to walk this path,
11:32 especially in a neighborhood as difficult as ours.
11:34 I would say South Asia is one of the most volatile regions in the
11:37 world today.
11:39 Look at the past 3 years.
11:41 Coup in Myanmar, economic collapse in Sri Lanka, radical takeover in Bangladesh,
11:47 and I'm sure you followed what happened in Nepal this week.
11:53 Nepal is our close closest neighbor and closest oldest civilizational partner.
12:00 This week it was in turmoil.
12:03 The government tried to ban social media, Gen Z hit the streets.
12:08 Dozens of people died, protesters clashed with the police,
12:11 the prime minister had to resign.
12:12 Now they have an interim government in place, social media has been restored.
12:19 But Nepal's fault lines have not been addressed.
12:25 They've not been repaired.
12:29 And for India, this These stories are not abstract.
12:32 They have real consequences for us.
12:36 Security, trade, refugees.
12:42 To our west, we have a terror state called Pakistan.
12:49 First time I'm hearing people cheering for Pakistan.
12:56 We have Afghanistan that is ruled by the Taliban.
13:00 And we have China, which remains our biggest challenge.
13:02 I think the handshakes in Tianjin will not change China's DNA.
13:08 We must remember that.
13:13 >> >> Our friendship may be framed on paper, India and China,
13:19 but the reality is steel and barbed wire along the LAC.
13:24 And we must remember that.
13:27 China wants Asia for itself.
13:29 India says there's room for all of us to grow.
13:31 And that contest will define this century.
13:39 And what makes life even more complicated is the uncertainty around us.
13:45 I recently learned a new term called Vuca.
13:48 Have you heard of Vuca?
13:49 V U C A?
13:52 V for vulnerability, U for uncertainty, C for complexity, and A for ambiguity.
13:58 They say we live in a Vuca world.
14:00 That's Vuca for you.
14:02 In America, they have a different name for it.
14:04 It's Donald Trump.
14:17 >> >> His tariffs have single-handedly destabilized the world.
14:23 He believes, I think he truly believes that it's a magic wand.
14:28 But it's proven to be a wrecking ball, and no one's telling him that.
14:33 He wants to sell us corn and dairy,
14:34 and he wants us to stop buying Russian oil.
14:39 So, what has India done?
14:42 We continue talking.
14:44 We pursue a deal.
14:47 But we insist on a deal that works for both of us.
14:53 Again, that's new India for you.
14:54 We stand our ground.
15:02 >> >> But the larger point I'm making is this, that our world is messy,
15:08 and our neighborhood is chaotic.
15:11 And it is in this setting that India must maintain its momentum.
15:20 Plus, we have our own challenges.
15:24 Challenges that we cannot afford to ignore.
15:26 I will not sugarcoat reality for you.
15:28 I'm sure you did not call me here to offer comfortable platitudes.
15:36 It's important that we do an honest assessment.
15:39 If we are to grow,
15:41 we must understand our strengths and our limitations with unflinching clarity.
15:50 Because opportunity does not automatically translate into achievement.
15:55 And potential does not guarantee performance.
15:58 We have to work towards it.
16:01 As one country.
16:05 So, I have a list of challenges too.
16:06 I think our biggest challenge today is jobs.
16:09 We have millions of people entering their most productive years,
16:13 millions of people entering the workforce or the job market every year.
16:18 We talked about demographics, and we like to think of that as a dividend.
16:23 But it can also be a disaster.
16:28 It depends entirely on what we do with our human potential.
16:33 Our growth is strong, that is undeniable.
16:37 But manufacturing jobs are not, and services cannot absorb everyone.
16:46 There's been an aggressive push to make in India.
16:48 It has delivered on a lot of counts.
16:50 But as things stand, even today,
16:52 we still risk skipping the industrial phase that creates mass employment.
17:00 And this is linked to our second challenge, which is human capital.
17:05 You mentioned Sundar Pichai.
17:07 I did not understand Tamil, but I got that.
17:12 So, at the top, we have created Sundar Pichais and Satya Nadella's.
17:20 But at the bottom, you've also left millions behind.
17:26 The education gaps, the health gaps, the skill gaps,
17:29 they're all real and they must be addressed urgently.
17:34 Our third challenge is institutions.
17:37 Do you know how many pending court cases we have in our country?
17:41 50 million. 50 million.
17:45 Our justice system is clogged.
17:49 In a digital world, our bureaucracy is still moving at analog speed.
17:57 And I don't want to take away from the efforts
17:59 that have been made to boost efficiency.
18:03 We have made leaps.
18:06 And yet we have regulations that create roadblocks rather than roads.
18:15 The fourth challenge is social cohesion.
18:20 Our diversity is a strength only if it is maintained maintained and managed well.
18:27 But it's a vulnerability if it is exploited by vested interests.
18:34 Polarization, inequality, gender gaps, these are not social issues.
18:39 These are strategic limitations on our national power.
18:46 The fifth is environment.
18:47 It is a challenge.
18:48 It's a story that repeats every year.
18:50 Delhi chokes.
18:51 We are bracing for that season to come.
18:53 Chennai floods.
18:55 Farmers face droughts.
19:01 Again, these are present constraints on our development.
19:04 And the sixth and my favorite topic, unfortunately, is global perception.
19:12 Old stereotypes still haunt us.
19:14 We may have reached the moon,
19:15 but the world is still talking about snake charmers, call centers, poverty porn.
19:22 The world often sees us through someone else's lens.
19:26 And that narrative must change,
19:27 and no one else is going to do it for us.
19:29 We have to do it for ourselves.
19:30 We have to take charge of our story.
19:38 >> >> And all the challenges that I just listed are not reasons for despair.
19:42 I think they should be reasons for determination.
19:46 We have to be clear-eyed
19:48 if we want our vision to turn into reality.
19:54 Thankfully for us, India also stands at a vantage point.
20:02 The great supply chain reorganization is underway.
20:05 I keep talking about it on my show.
20:07 The pandemic and the politics
20:09 that followed has taught the world the risks of over-dependence on China.
20:13 So, companies are looking for other markets.
20:16 They're relocating, and India offers a compelling alternative.
20:22 I think the best example is Apple.
20:25 Apple is making iPhones in India, and this is not just an investment story.
20:30 When one of the world's most valuable companies invests in India, builds in India,
20:39 commits to India, then it's a message to the whole world.
20:51 >> >> Then we have energy transition.
20:52 The world is talking about clean fuel,
20:53 and here India is poised to take the leadership role.
21:01 Our renewable capacity is growing impressively.
21:04 Tamil Nadu again is a great example.
21:07 Our potential for solar power is enormous.
21:11 And our ambitions for green hydrogen are substantial.
21:15 We must take the lead here.
21:19 I've already spoken about the digital transformation of UPI digital locker.
21:23 We built the pipes.
21:25 Our technology talent is globally recognized,
21:28 but what we need to focus on is tech sovereignty.
21:32 We need to build our systems at home.
21:36 For ourselves and to share with the world.
21:38 We can't just be creating a big market for Silicon Valley.
21:45 And finally global governance.
21:46 India must take the lead here.
21:52 Like I said, international institutions are outdated.
21:56 Our G20 presidency showed the world what is possible.
22:01 We brought the African Union into the fold.
22:05 In a divided world, India has emerged as a bridging power.
22:11 And increasingly the world has come to value this role.
22:14 You see countries across Africa, Latin America, Asia, they're looking for partners.
22:21 They're not looking for powers that offer them binary choices.
22:29 They want partners who respect their sovereignty, who share with them practical development models.
22:35 And I think India's experience resonates with a lot of these countries much more
22:39 than Western models do.
22:44 I would also like to add here that India's rise is responsible.
22:48 I said that we our commitment is to national interest.
22:54 But we also fulfill our international responsibility and we showed that during the pandemic.
23:01 When vaccine nationalism was closing doors, we launched vaccine मैत्री.
23:12 India sent vaccine doses
23:15 and medical supplies to more than 100 countries
23:17 because our strategy was solidarity.
23:22 On climate, we co-founded the International Solar Alliance.
23:25 More than 100 countries are part of it.
23:28 Again, this puts the global south at the heart of the energy transition.
23:34 And then, of course, our digital public goods.
23:36 Countries are increasingly learning from them and adopting them.
23:41 So, we don't just speak for the global south, we also build for it.
23:46 And a big part of what we're building is strength, including military strength.
23:53 India is emerging as a defense exporter.
24:02 And >> >> we are offering the world systems which are affordable and reliable.
24:07 And we showed what they're capable of in operation Sindoor.
24:19 >> >> The Philippines is buying our BrahMos missiles.
24:22 Many Many other countries have shown interest.
24:24 And this is not just an export story.
24:27 This also re-positions India
24:29 as a security provider in the region
24:32 and the world.
24:37 Now, if you connect these dots,
24:39 you'll see that India is not just guarding its borders,
24:43 it is designing the boundaries of possibility.
24:52 >> >> And to make the most of it, we have to address one more question.
24:57 What does the world want from India
24:58 and what do we want from the world?
25:03 Partners want India's market, India's talent, and India's credibility.
25:10 They also want India's voice.
25:14 Because we can speak to Washington and Moscow, Iran and Israel,
25:20 China and Japan often in the same sentence.
25:29 >> >> Without India, there is no credible climate pathway.
25:34 There is no Indo-Pacific balance.
25:38 There is no resilient supply chain story.
25:40 The world needs India very much.
25:47 >> >> And what do we want in return?
25:52 We want respect for our choices.
25:59 >> >> We want room for our growth.
26:02 We want fair rules for tech, trade, and climate.
26:10 Not lectures, but latitude.
26:15 Not vetoes, but partnership.
26:20 So, new India must define the red lines and set expectations.
26:30 And this will happen with a deeper change,
26:33 which I dare say is already underway.
26:37 It is less visible than GDP, but more powerful than policy.
26:43 It is the cultural code of our country
26:47 that is catching up with our capabilities.
26:54 We are done with self-doubt.
26:58 We don't dismiss tradition as an enemy of modernization.
27:06 We don't treat ambition as arrogance.
27:10 We don't confuse noise with relevance.
27:16 We are comfortable saying no when it matters, yes when it makes sense,
27:25 and not yet when prudence demands patience.
27:33 So, what is the message today?
27:39 India's rise is not inevitable.
27:42 India's rise is intentional.
27:49 This new India that we all dream of, that we talk about,
27:52 must be built brick by brick, bite by bite.
27:58 It will take ambition.
28:01 It will also take patience.
28:06 Boldness and humility.
28:10 Strength and compassion.
28:14 And the world is watching us.
28:19 Some with hope, some with envy, and some with doubt.
28:27 It is not our job to prove them wrong.
28:30 It is our job to prove ourselves right.
28:41 >> >> Think of ourselves as a national project.
28:44 Imperfect, impatient, incomplete, but unstoppable.
28:54 >> >> And the world better make room
28:55 because India has arrived
28:57 and it is here to stay.
28:59 Thank you.
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