Economic Times Forum 2026 gets exclusive preview of PM's vision for Indian industry

The Prime Minister, Shri Narendra Modi, shared glimpses of his address at the Economic Times World Leaders Forum 2026. He highlighted the shift from Production Linked Punishment to Production Linked Incentives in India. The Prime Minister emphasized the change in approach from controlling enterprise to enabling it.

Reported by 2 sources

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Quick Revision

Prelims-testable facts

01India has moved from a production-linked punishment approach to a production-linked incentives approach.
02The Licence Raj discouraged enterprise, production, and job creation in India.
03The current approach in India incentivizes production, encourages ambition, and trusts entrepreneurs.
04The government has shifted from controlling enterprise to enabling it in India.
05India has been an oasis of political stability amidst global fluctuations.
06The government is committed to uplifting the youth, farmers, and other sections of society in India.
07Prime Minister Narendra Modi addressed the Economic Times World Leaders Forum 2026 in New Delhi.

Trap alerts

Most people think the Licence Raj was a recent phenomenon, but actually it was a characteristic of India's economic policy during the post-independence period.
Most people think India's economic reforms started with the current government, but actually the country has been transitioning from a Licence Raj to a more market-oriented economy since the 1990s.
Most people think the government's focus is only on economic growth, but actually it is also committed to uplifting the youth, farmers, and other sections of society.

Prelims Practice MCQs

Single facteasy

What is the new approach adopted by India in place of the previous one?

A.Production Linked Incentives
B.Production Linked Punishment
C.Licence Raj
D.Controlling Enterprise

India has shifted from penalizing companies for exceeding production limits to incentivizing them with Production Linked Incentives.

Multiple statementsmedium

Consider the following statements regarding Economic Reforms in India: 1. India has moved from controlling enterprise to enabling it. 2. The Licence Raj discouraged enterprise, production and job creation. 3. The Prime Minister, Shri Narendra Modi, has implemented Production Linked Incentives in India. How many of the above statements are correct?

A.Only one
B.Only two
C.All three
D.None

Statement 1 is supported by fact 4, which states that India has moved from controlling enterprise to enabling it. Statement 2 is also supported by fact 3, which mentions that the Licence Raj discouraged enterprise, production and job creation. However, Statement 3 is incorrect as it attributes the implementation of Production Linked Incentives to the Prime Minister, whereas fact 1 only mentions that India has moved from Production Linked Punishment to Production Linked Incentives, without specifying who implemented this change.

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