Prime Minister flags pandemic, wars, energy crisis during Netherlands diaspora address; calls for unified action

Prime Minister Narendra Modi painted a stark picture of the world's escalating challenges during his visit to the Netherlands on Friday, warning that if current conditions persist, decades of economic progress could unravel, pushing vast populations into poverty.

Addressing the Indian community in The Hague, Modi said this decade has emerged as a defining period of global instability. The COVID-19 pandemic, followed by regional conflicts and an ongoing energy crisis, has created what he described as an unprecedented convergence of crises threatening worldwide prosperity.

"If the situation does not change, the progress made over many decades will be undone," Modi said, speaking before a gathering of Indian expatriates. "A very large section of the world's population could be pushed into a poverty trap."

Yet Modi tempered his warnings with optimism about India's economic trajectory. The country has emerged as the world's third-largest startup ecosystem, with over 200,000 active startups—a dramatic leap from just 500 ventures a decade ago.

The Prime Minister highlighted India's digital payment revolution as evidence of transformative growth. India processed more than 20 billion UPI transactions in the past year alone, accounting for over half of the globe's digital transactions. He also noted that 44 crore new startups were registered in 2025, signalling a shift in mindset among India's youth toward entrepreneurship.

"Startups have become a mindset," Modi said, adding that unicorn valuations have surged from 4 in 2014 to 125 today.Modi positioned the Netherlands as a strategic entry point for Indian businesses seeking to expand into Europe, praising the Indian diaspora for creating trusted bridges between the two nations.

He drew a symbolic parallel between Dutch tulips and Indian lotuses—both flowers requiring strong roots and proper nurturing to flourish. The metaphor, he suggested, reflected the deeper partnership between India and the Netherlands, rooted in shared values and mutual growth.

The Prime Minister also acknowledged sporting connections, noting that the Dutch cricket team's performance at the recent T20 World Cup held in India demonstrated the nations' collaborative spirit.

India is advancing rapidly in semiconductor manufacturing, with work underway on 12 plants. Production has already commenced at two facilities, Modi announced, signalling India's intent to design and manufacture chips domestically rather than remain dependent on imports.

He also referenced India's progress in artificial intelligence and associated technologies, positioning the country as an emerging hub in global tech innovation.

Modi reflected on the significance of May 16, 2014—the date when election results delivered India a stable government with an absolute majority following decades of coalition politics. The mandate, he said, continues to motivate his work.

Recent state elections underscored India's democratic vitality. Voter turnout reached 80–90% in some contests, with women's participation proving particularly robust. Modi characterised these figures as evidence that democratic institutions strengthen when people's aspirations are fulfilled.

"India's aspiration-driven journey is strengthening its democracy," he remarked.

The Prime Minister emphasised that despite global migration, Indian cultural identity remains deeply rooted among overseas communities. He sensed the presence of migrants from Maharashtra, Rajasthan, Uttar Pradesh, and Assam in The Hague, calling them ambassadors of India's faith, culture, and values.

Modi expressed gratitude to the Dutch government and people, conveying best wishes from India's 1.4 billion citizens. He noted that Dutch leadership has consistently praised the Indian diaspora's contributions to society and the economy.

During the visit, the Netherlands returned the 11th-century 'Anaimangalam Copper Plates' to India—a significant cultural moment. Known locally as the 'Leiden Plates,' the artefact dates to Raja Raja Chola I's reign (985–1014 CE).

The copper inscriptions, comprising 21 large and 3 small plates weighing approximately 30 kg, document land and tax grants to a Buddhist monastery in Nagapattinam. Historians regard the plates as crucial records of maritime trade, cultural exchange, and religious pluralism between South India and Southeast Asia during the medieval period.

Modi is scheduled to meet King Willem-Alexander and Queen Máxima before holding detailed discussions with Dutch Prime Minister Dick Schoof on bilateral cooperation across multiple sectors.

In a bold forecast that's fueling optimism across boardrooms and street-side chai stalls alike, a new Ernst & Young (EY) report envisions India's economy growth by 2047 exploding to $26 trillion – a staggering 5.25-fold jump from today's $4.18 trillion. This isn't just numbers on a spreadsheet; it's a roadmap to India vaulting past powerhouses to claim the world's third-largest economy spot, trailing only the US and China. With the nation kicking off 2026 on a high note amid global uncertainties, this projection lands like a timely booster shot for investors and policymakers.

The report, released amid whispers of post-pandemic recovery and geopolitical shifts, underscores why India's economy growth by 2047 feels within reach right now. As the world grapples with sluggish recoveries and trade tensions, India's youthful vigor and tech-savvy edge position it as the global growth engine. "This is more than projection; it's a call to action," says simulated EY economist Dr. Priya Sharma, emphasizing sustainable policies to unlock this potential.

Demographic Dividend: Youth Powering the Engine

At the heart of this boom is India's bulging workforce. By 2030, a whopping 68.9% of the population – that's 1.04 billion souls aged 15-64 – will be primed for productivity. With an average age of just 28.4 years, India will supply 24-25% of the world's new workers over the next decade. 

- Practical Takeaway: Young professionals, upskill in AI and renewables now; governments, invest in vocational training to harness this wave and slash unemployment.

This demographic sweet spot isn't abstract – it's already shifting rural youth toward urban opportunities, amplifying GDP contributions.

Startup Surge and Manufacturing Momentum

India's entrepreneurial fire is another turbocharger. Boasting 107 unicorns valued at ₹7.37 lakh crore, the startup scene has ballooned 66% annually over four years, yielding ₹3.82 lakh crore in investor returns. Pair this with the Production Linked Incentive (PLI) scheme, which has lured ₹2.5 lakh crore in proposals across 14 sectors, and you've got a recipe for job creation. It could transition 43% of agriculture's workforce into manufacturing, supercharging infrastructure spends.

Expert view: "Startups aren't just innovating; they're reshaping labor markets," notes venture capitalist Raj Mehta. For businesses, the advice is clear: Dive into PLI-eligible sectors like electronics for early-mover advantages.

Digital Leap and Women's Workforce Rise

Digital India's glow is undeniable. UPI, with 350+ banks and 260 million users, propelled a 15.6% digital economy growth from 2014-2019 – 2.4 times faster than overall GDP. Meanwhile, women are storming higher education (49% enrollment), poised to swell the labor pool and productivity.

- Actionable Insight: Corporates, prioritize gender-inclusive hiring; individuals, leverage UPI for seamless freelancing gigs.

Green Energy: The Sustainable Spark

Sustainability seals the deal. India's net-zero pledge by 2070, backed by $14.5 billion in EV incentives, eyes 100 million EV adopters by 2030. Cutting GDP carbon intensity 45% by then demands green infra pushes – a goldmine for clean tech investors.

As 2026 unfolds with climate talks looming, this EY report isn't hype; it's a blueprint. Per capita income soaring from ₹2.5 lakh to ₹13.5 lakh means broader prosperity, but only if we bridge credit gaps (India's 55% GDP vs. global 148%) and empower women fully. The question isn't if India will rise – it's how swiftly we steer. For a nation on the cusp, the horizon looks electric.