What happened: Modi’s reform narrative at Economic Times World Leaders Forum 2026

Prime Minister Narendra Modi shared excerpts from his address at the Economic Times World Leaders Forum 2026. In posts, he presented a reform narrative in two parts: an economic shift toward incentives for production and a governance shift in how regulations operate.

Modi said India has moved from “Production Linked Punishment” to “Production Linked Incentives”. He explained that an earlier mindset penalised companies for producing beyond prescribed limits. He argued that such a licence-control approach discouraged enterprise, production and job creation. He contrasted this with the present approach, which he said incentivises production, encourages ambition and shows trust in entrepreneurs.

On governance philosophy, Modi stated that India is moving from “Prohibited unless permitted” to “Permitted unless prohibited”. He linked this governance direction to Jan Vishwas, decriminalisation, removal of thousands of compliances, and removal of many obsolete laws. Modi stated that these steps reduce the burden on citizens and enterprises. Modi also described “Ease of Living” as reforms that become part of everyday life.

Background and earlier position: licence-era control versus incentive-era enabling

Modi’s framing contrasts an earlier regulatory posture where businesses faced punishment tied to production limits, including punishment for producing beyond prescribed limits. In Modi’s account, that control-oriented mindset discouraged enterprise activity, production and job creation.

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