PM Modi has never shied away from dreaming big and setting bold targets: Vineet Jain

Prime Minister Narendra Modi has never shied away from dreaming big and setting bold targets even when they seemed unachievable, said Times Group managing director Vineet Jain on the second day of the Economic Times Global Business Summit here in New Delhi.

Jain welcomed Prime Minister Modi, who will be speaking at the Summit today. He said that the first edition of the Summit was in 2015, just a year after the current government came into power.

Jain called Modi a visionary leader who had carried through a number of schemes like Ujwala, Swacchh Bharat and Direct Benefit Transfer. He said that PM Modi had done much for the underprivileged, but also promoted the cause of trade and industry.


"India will become the fifth largest economy in the world this year," said Jain. "Ease of doing business rankings have improved from 142 to 71."

Landmark reforms like the Indian Bankruptcy Code, Goods and Services Tax had improved tax compliance. Inflation had reduced from 6% before the current government came into to power to 2% now, he said.

Jain said if innovation had to flourish, fair and robust rules needed to be framed. "We are already seeing the consequences of an uneven playing field," said Jain, referencing turmoil due to Brexit and the US-China trade war.

Jain said that the Summit could be a great platform for helping shape a more inclusive world.