The Prime Minister addressed Shri Ram College of Commerce (SRCC) during its centenary celebrations, reflecting on the institution’s century-long journey and comparing India’s development over the past decade with the challenging conditions that existed in 2013.
What the PM said
The Prime Minister recalled his 2013 address to SRCC students, when he was Chief Minister and in opposition. He spoke then of viewing a half-filled glass of water as completely full—half with water and half with air—a metaphor for maintaining optimism despite difficult circumstances. In 2013, India faced multiple crises: economic growth had slowed, inflation was near 10 percent, defence spending was dominated by imports, and the country was grouped among “Fragile Five” economies by global analysts.
The PM outlined India’s transformation since then. Quarterly economic growth reached 7.8 percent, a Japanese credit rating agency upgraded India’s rating, and electricity generation rose by 9 percent between April and June. Vehicle sales grew by over 20 percent, with two-wheeler sales up 20 percent and three-wheeler sales up nearly 30 percent. Steel and cement consumption increased by 8 percent.
He highlighted flagship schemes like Pradhan Mantri Jan Dhan Yojana (PMJDY), which in 12 years opened approximately 60 crore bank accounts, bringing nearly every Indian family into the banking system. This foundation enabled India’s fintech revolution.
Defence manufacturing reached all-time highs. India’s defence production now stands at approximately 2 lakh crore rupees annually, with defence exports rising from 600-700 crore rupees in 2013-14 to nearly 40,000 crore rupees today. In mobile phones, India shifted from importing most devices in 2014 to exporting over 2.5 lakh crore rupees worth of mobile phones annually.
Railway electrification was completed nearly entirely in 12 years, whereas the previous 90 years had achieved only 30 percent electrification. The country has signed trade agreements with approximately 40 nations in the past decade, opening new markets for Indian goods and services across leather, textiles, processed foods, and seafood sectors.
What this means for you
India’s economic expansion is creating employment opportunities across manufacturing, research, defence, and agriculture sectors. Graduates entering the job market will find both domestic and export-oriented industries expanding rapidly, with new trade partnerships opening overseas markets for Indian products and services.
The PM’s emphasis on self-reliance and manufacturing capability suggests growing career prospects in technology, defence production, and industrial sectors. Young professionals can expect to participate in India’s transition toward becoming a global manufacturing hub and innovation centre, rather than remaining primarily dependent on imports.