In the last 11 years, India has changed its economic DNA: PM Modi

Prime Minister Narendra Modi on Thursday attended the India-Oman Business Forum and highlighted the wide-ranging economic reforms undertaken by India over the last 11 years, which he said have transformed the country into one of the most competitive markets globally. Emphasising the significance of the Comprehensive Economic Partnership Agreement (CEPA), the Prime Minister said it would provide renewed confidence and momentum to the India-Oman partnership. “Over the past 11 years, India has not just changed policies, India has changed its economic DNA,” PM Modi said. He cited reforms such as the Goods and Services Tax (GST) and the Insolvency and Bankruptcy Code (IBC) as key drivers of economic transformation. “GST transformed the whole of India into one integrated, unified market. The Insolvency and Bankruptcy Code brought financial discipline, promoted transparency, and strengthened investor confidence,” he said.

The India-Oman CEPA marks a significant milestone in the two countries’ millennia-old relationship, with Commerce Minister Piyush Goyal describing it as a “watershed moment” and the culmination of a shared vision for a mutually prosperous future. Speaking at the Oman–India Business Summit in Muscat, Goyal said the agreement concludes years of sustained engagement and is expected to improve market access, boost investments and deepen cooperation across key sectors. The CEPA holds particular importance for Oman as it is only the country’s second free trade agreement with an individual nation and the first such pact in nearly two decades, underlining India’s growing role as a strategic trade and investment partner. The agreement is also expected to support trade diversification and strengthen supply chain resilience at a time of global economic realignment, aligning with India’s broader push to expand its free trade network to drive domestic growth and enhance global market access for Indian businesses.

बीते 11 वर्षों के दौरान भारत ने सिर्फ policies नहीं बदली हैं, भारत ने अपना economic DNA बदला है।

- पीएम श्री @narendramodi

पूरा वीडियो देखें: https://t.co/utk73K4d7O pic.twitter.com/nsqdDSWgRj

— BJP (@BJP4India) December 18, 2025

Later,addressing the Indian community and students in Muscat in a programme called Maitri Parv. PM Modi has said, diversity in India is a strong base of its culture, and for Indians, every day brings in new colours, every season becomes a new festival, every tradition comes with a new idea. . The Prime Minister elaborated Maitri Parv as Maritime heritage, Aspirations, Innovation, Trust and Technology, Respect and Inclusive Growth. He said, the Maitri Parv is the celebration of the friendship between the two countries, their shared history and a prosperous future. The programme ‘Maitri Parv’ celebrates the completion of 50 years of the Indian schooling system in Oman.