PM Modi sets 50 Indian firms in Fortune 500 goal

Prime Minister Narendra Modi, in his 80th Independence Day address from the Red Fort, set a target for India to have 50 companies in the Fortune 500 list within the next decade. He also called for at least one Indian bank to be among the world's top five banks and one Indian pharmaceutical company among the world's top five pharma firms.

bazaar.businesstoday.in reports Modi outlined a vision for Indian business, banking, and pharma to gain global recognition. aajtak.in adds that Finance Minister Nirmala Sitharaman, at the PSB Confluence 2026 in New Delhi, announced the government will soon form a high-level committee to review and reform the banking and financial sector. This committee aims to align the banking sector with the 'Viksit Bharat 2047' vision.

Sitharaman said the government will implement necessary decisions once the committee finalises its recommendations. The idea of a high-level committee for banking reforms was first mentioned in the Union Budget 2026-27.