New Delhi, Feb. 6 -- Prime Minister Narendra Modi, replying to the Motion of Thanks on the President's Address in the Rajya Sabha, said the past year marked "rapid progress" in India's journey towards a Viksit Bharat, and credited policy-led governance and reforms for what he described as a phase of fast-paced transformation across sectors.

Modi said India has multiple "favourable coincidences" at once-especially a young demographic profile even as many advanced economies age-and argued that global interest in India has risen due to the country's talent pool and capacity to offer solutions amid a shifting world order. He also highlighted India's high growth among major economies and a "unique" combination of high growth with low inflatio...