2025 has been a year of economic reform for India. Its results were also visible. Prime Minister Narendra Modi said on Tuesday that India has become the center of global attention because of the innovative spirit of our people. Today the world looks at India with hope and trust.
PM Modi has shared an article on the professional site LinkedIn. He has described the year 2025 as a historic year in India’s reform journey. This has taken forward the progress made in 11 years.
‘India has boarded the Reform Express’
He wrote, ‘The world appreciates the way the pace of progress has been accelerated across sectors with next generation reforms. This increases the development potential of the country. I have said for many years that India has boarded the Reform Express.
He said, ‘The main engine of this Reform Express is India’s demography, the young generation and the indomitable courage of our people. 2025 will be remembered for such years for India, when it focused on a national mission by improving on the progress achieved in the last 11 years.
He said, ‘We modernized the institutions. Made governance simple. Strengthened the foundation for long-lasting inclusive growth. We moved forward decisively with high ambition, fast execution and deep change. The reforms have been about enabling citizens to live with dignity, entrepreneurs to innovate with confidence and institutions to work with clarity and trust.
Major changes in GST
PM Modi pointed towards major changes in Goods and Services Tax (GST). This includes the introduction of two slab structures with 5% and 18%. These reforms reduced the burden on households, MSMEs, farmers and labor intensive sectors. This was a relief step for the middle class. People earning Rs 12 lakh annually no longer have to pay any tax. The 6 decade old Income Tax Act of 1961 was replaced with a simple and technology driven Income Tax Act 2025.
Made many reforms in the business sector this year
Apart from these, PM Modi also discussed the reforms made in business in his article. He said the reforms in business include expanding the definition of small companies to include companies with turnover up to Rs 100 crore and reducing compliance costs for thousands of firms. A big step was taken towards liberalization. In this, 100% foreign direct investment has been allowed in the insurance sector to increase competition, improve service delivery and increase insurance penetration. Securities Market Code Bill introduced in Parliament. This will enhance the governance norms in SEBI. Will increase investor security. Will reduce the burden of compliance. Will enable technology driven securities market for a developed India.
Many reforms made in maritime sectors and blue economy
He said that the reforms will ensure savings due to less compliance and other overheads. PM Modi also spoke on a series of maritime sectors and blue economy reforms. He said that five historic laws were passed in this regard in the monsoon session. These measures replaced the colonial-era laws of 1908. Their aim is to simplify documentation, resolve disputes and reduce logistics costs.
PM Modi said, another big emphasis was on eliminating crimes and making business easier. Hundreds of old laws were abolished. In this, 71 acts were repealed through the Repealing and Amendment Bill 2025. Many quality control orders were canceled or suspended in different sectors. It is expected to reduce production costs, increase exports and reduce prices for consumers.
He said that 22 QCOs were canceled in synthetic fibre, yarn, plastic, polymer and base metals. Of these, 53 QCOs were suspended in steel, engineering, electrical, alloy and consumer and product categories. These include a wide range of industrial and consumer materials.
Labor reforms changed over time
PM reiterated the importance of labor reforms. In this, 29 scattered laws were converted into four labor codes. This ensured the safety of the workers. Besides, business efficiency also increased. These reforms promote fair wages, social security, safe workplaces and greater participation of women and unorganized workers in the formal economy.
PM Modi said that at the global level, India expanded the market for its products by making trade deals with New Zealand, Oman and UK. In this, a free trade agreement has been implemented with the European Free Trade Association. This is India’s first FTA with developed European economies. This will increase investment, promote employment generation and also encourage local entrepreneurs. These will strengthen India’s position as a reliable and competitive partner in the global economy.
Transformative reforms in the energy sector
He described the SHANTI Act as a transformative reform in the energy sector. It lays the foundation for the safe and responsible expansion of nuclear energy. This will meet the increasing energy demands in the AI ​​era. Private sector participation will open avenues for innovation and leadership skill development of youth.
The PM pointed towards reforms in rural employment through the Vikas Bharat Gram Rozgar Guarantee Framework. It increases the period of guaranteed employment from 100 to 125 days. The education reforms propose a single integrated higher education system to replace multiple overlapping bodies.
