Prime Minister Narendra Modi has completed 12 years in office [1], becoming the longest-serving elected prime minister in the history of India [2].
This milestone marks a period of significant structural shifts in the Indian economy. The government's focus on political stability and regulatory reform is intended to lower the country's risk profile and attract sustained global investment.
FICCI President Anant Goenka said several key initiatives have shaped the current economic landscape. He said the Goods and Services Tax (GST) stands as the most significant reform of the Modi era [1]. The transition to a unified tax system was designed to streamline commerce across state lines, a move that industry leaders say has improved the ease of doing business.
Other critical reforms highlighted include the implementation of faceless tax assessments and the Digital India initiative [3]. These programs aimed to reduce corruption and bureaucratic friction by digitizing government services and removing the need for physical interaction between taxpayers and officials.
Industry representatives said these changes have collectively boosted investor confidence. By creating a more predictable regulatory environment, the government has sought to drive long-term economic growth and infrastructure development [4].
While celebrating the 12-year record, some business leaders are now looking toward future administrative efficiencies. Goenka said a "one nation, one election" system could be the next major necessity for the country [1]. Such a move would synchronize national and state elections to reduce the frequency of electoral cycles and the associated spending.
Government officials said the focus remains on maintaining the momentum of these reforms to ensure India continues to compete as a global investment destination [4].
“Modi has completed 12 years as Prime Minister”
The emphasis on these specific reforms—GST, digitalization, and tax transparency—indicates a strategic shift toward a formalized economy. By reducing the 'cost of doing business' through technology and tax simplification, India is attempting to pivot from a reliance on domestic consumption to becoming a primary global hub for manufacturing and foreign direct investment.
