In his address to the India-Oman Business Summit, Prime Minister Narendra Modi said that India has changed its economic DNA in the past 11 years. He described Insolvency and Bankruptcy Code and goods and services tax (GST) as actions that transformed India’s growth trajectory.
Prime Minister Narendra Modi on Thursday said that India has changed its economic DNA in the past 11 years.
In his address to the India-Oman Business Summit, Modi said, “Over the past 11 years, India has not just changed policies, India has changed its economic DNA.”
Modi mentioned initiatives like the Insolvency and Bankruptcy Code and goods and services tax (GST) as actions that transformed India’s growth trajectory.
“GST transformed the whole of India into one integrated, unified market. The Insolvency and Bankruptcy Code brought financial discipline… it promoted transparency… and this strengthened investor confidence,” said Modi, according to ANI.
In his final leg of the visit to West Asia, Modi arrived in Oman on Wednesday. HIs itinerary included talks with Sultan Haitham bin Tariq and, the address at the business forum, and an interaction with the diaspora community. Previously, he visited Ethiopia and Jordan in the three-nation visit.
Incredible energy at the community programme in Muscat! The Indian diaspora continues to play a key role in bringing India and Oman closer.
https://t.co/z7EEovwqlq— Narendra Modi (@narendramodi) December 18, 2025
India and Oman are scheduled to sign a trade deal today in Modi’s presence. It is formally called Comprehensive Economic Partnership Agreement (CEPA). Trade talks had begun in 2023 and concluded earlier this year.
‘A blueprint of our future’: PM Modi on India-Oman trade deal
Ahead of the signing of the trade deal, Modi said CEPA would give new confidence to the partnership and described it as a blueprint of the future relationship.
“Today, we are making a historic decision whose echo will be heard for decades to come. The Comprehensive Economic Partnership Agreement (CEPA) will fill us with new trust and new energy in the 21st century. This is a blueprint of our shared future. This will boost our trade, give a new confidence to investment and open new doors to opportunities in every sector,” said Modi.
“Since the dawn of civilisation, our ancestors have been doing maritime trade with each other. It is often said that the two ends of the sea are very far away from each other. But the Arabian Sea between Mandvi and Muscat has become a strong bridge, a bridge which has strengthened our relations and empowered our cultural economy. Today, we can say confidently that the waves of sea can transform, seasons change but India-Oman friendship gets stronger every season and touches new heights with every wave,” said Modi.
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