Indian Prime Minister Narendera Modi, the 14th laureate of the Seoul Peace Prize has contributed to the growth of the Indian and global economies, crediting 'Modinomics' for reducing social and economic disparity between the rich and the poor. He also has launched his initiatives to make the government 'cleaner' through anti-corruption measures and currency reform. Prime Minister Modi has made his contribution towards regional and global peace through a proactive foreign policy with countries around the world under the 'Modi Doctrine' and the 'Act East Policy.'
High Growth of Indian Economy by Modinomics
Ever since he assumed office in 2014, PM Modi has initiated a string of economic policy changes aimed at attracting foreign investment in almost every sector of the economy. 'Modinomics' have made India the world's fastest growing economy, surpassing the growth rate of major global economies and making it a prime investment destination.
Bold regulation reforms have been made to attract foreign investment in order to turn India into the manufacturing hub of the world. Under the 'Make in India' initiative, India has launched campaigns to promote development in 25 industrial sectors including automobile, railways, ports and shipping, IT, biotechnology, pharmaceuticals, power, aerospace etc. The ultimate goal is to create 100 million jobs in the country by 2022.
Eradicating Corruption and Improving Welfare by Monetary Reform
Through measures such as Jan Dhan Yojana and Direct Benefit Transfer Scheme, PM Modi has given direct access and welfare benefits of the nation's financial sector to the poorest in the country. Prime Minister Modi has also launched the Clean India Mission, which aims to clean up the public spaces of India's cities, towns and rural areas. The construction of household-owned and community-owned toilets has greatly benefited the people of India.
Prime Minister Modi has focused greatly on the fight against corruption. Through his currency reform, he sought to move more people into the formal banking sector and economy and encouraged cashless transactions.
Prime Minister Modi has greatly contributed to the integration and inclusive growth of the Indian society and economy, as well the advancement of democracy under his 'Sabka Saath, Sabka Vikas' (Collective Efforts, Inclusive Growth) philosophy. This has also promoted friendly cooperation at the neighbourhood, regional and global level.
Contributing to International Cooperation and Regional Stability through Good Neighbor Policy
He has implemented the Neighbourhood First and Act East policies so as to nurture and give priority to India's relations with the immediate neighbourhood as well as with ASEAN and South Korea, Japan and Australia. At the same time, he has given due attention to advancing India's relations with the major powers of the world today.
Dedicating to Global Environmental Improvement
By championing the 'International Solar Alliance', a global partnership to scale up solar energy and reduce human dependence on fossil fuel, Prime Minister Modi has taken a leadership role in reducing global carbon dioxide emission. He received the 'Champions of the Earth' award for his efforts to eliminate single-use plastics in India .
