Context

• As 2025 draws to a close, India’s economic progress is often judged by headline indicators such as GDP rankings, export growth, and global partnerships.
• Beneath these visible outcomes lies a sustained and less conspicuous reform effort that has reshaped governance, regulation, and institutional credibility.
• Reform Express 2025 represents a cumulative process of removing bottlenecks, modernising laws, and creating predictable systems.
• Rather than disruptive policy shocks, this phase has relied on consistency and trust-based governance to strengthen India’s long-term growth foundations.

Economic Credibility and the Case for Reform

• India crossed $4.1 trillion in nominal GDP, becoming the world’s fourth-largest economy.
• More telling was the sovereign credit rating upgrade to BBB after nearly two decades, signalling confidence in the durability of India’s macroeconomic framework.
• In a global environment marked by political volatility, stable leadership has made reforms credible.
• Credible reforms reduce uncertainty, align incentives, and encourage private investment.
• When procedures are transparent and time-bound, discretion narrows, competition improves, and investment translates into jobs and productivity gains.

Key Foundational Reforms for India’s Next Growth Phase

• Trade Expansion and Digital Facilitation
  • India’s exports reached $825.25 billion in 2024–25, growing over 6% annually.
  • This expansion has been supported by digital trade infrastructure that simplifies processes and improves access to information.
  • Platforms such as Trade Connect and Trade Intelligence and Analytics have reduced friction for exporters by integrating approvals, data, and market intelligence.
  • These initiatives reflect a shift from control-oriented regulation to facilitative governance that enhances competitiveness.
• Strategic Trade Agreements and Global Integration
  • India’s trade diplomacy in 2025 focused on commercially meaningful agreements.
  • The Comprehensive Economic and Trade Agreement with the United Kingdom expanded duty-free access and clarified services and skilled mobility pathways.
  • Agreements with Oman and New Zealand strengthened India’s presence in strategic and high-value markets.
  • Together, these partnerships deepened integration into global value chains while maintaining policy discipline and reciprocity.
• Entrepreneurship, Innovation, and Digital Public Infrastructure
  • India’s startup ecosystem expanded to over two lakh government-recognised startups, generating more than 21 lakh jobs.
  • Digital public infrastructure played a central role in this growth.
  • The Open Network for Digital Commerce processed hundreds of millions of orders, while the Government e-Marketplace enabled micro and small enterprises to access public procurement at scale.
  • India’s rise to 38th place in the Global Innovation Index reflected the impact of simplified regulations and digital systems on innovation outcomes.
• Legislative Simplification and Regulatory Modernisation
  • Trust-based governance became a defining feature of Reform Express 2025. Parliament repealed 71 obsolete laws, reducing regulatory clutter.
  • The consolidation of 29 central labour laws into four labour codes simplified compliance while expanding social security coverage.
  • Capital market reform progressed through the introduction of the Securities Markets Code Bill, strengthening enforcement, investor protection, and grievance redress mechanisms at a time of growing retail participation and global capital flows.

Infrastructure and Energy Reform

• Infrastructure, Logistics, and Industrial Policy
  • Logistics reform focused on reducing costs and improving reliability.
  • New maritime laws replaced outdated frameworks with modern governance tools, dispute resolution mechanisms, and safety norms.
  • Recognising shipping as a strategic sector, the government approved a ₹69,725 crore shipbuilding package, including a Maritime Development Fund.
  • This approach reflected industrial policy with ecosystem focus, encouraging private investment while building domestic capacity across shipyards, engineering, and services.
• Energy Reform and Long-Term Investment
  • Energy reforms addressed long-cycle investment risks. Amendments to oil and gas legislation emphasised stability of terms, clearer approvals, and single-lease frameworks.
  • The Open Acreage Licensing Policy expanded exploration, particularly offshore, while the National Deep Water Exploration Mission strengthened domestic capabilities.
  • Simultaneously, the Nuclear Energy Mission and the SHANTI Bill advanced low-carbon baseload capacity, enabling regulated private participation in advanced nuclear technologies to support energy security and industrial growth.

Conclusion

• Reform Express 2025 demonstrates a consistent reform logic: clean up outdated statutes, reduce compliance burdens, digitise governance, strengthen market institutions, and de-risk long-term investment.
• Rather than relying on headline-driven interventions, India’s transformation has been built through cumulative, interconnected reforms.
• By lowering the burden on entrepreneurs and improving institutional trust, productivity is allowed to compound.
• The quiet persistence of these reforms has laid the foundation for sustained growth and enhanced resilience in an increasingly uncertain global economy.