New Delhi: Describing former prime minister PV Narasimha Rao as a remarkable intellectual and visionary with a reformist zeal, Andhra Pradesh Chief Minister Nara Chandrababu Naidu on Tuesday said that PV transformed India’s future, and everyone today was enjoying fruits of his far-reaching economic reforms.

Delivering the lecture on "The Life and Legacy of PV Narasimha Rao" at the Prime Minister's Museum and Library here, Naidu recalled his warm and respectful relationship with PV Narasimha Rao, rooted in their shared Telugu heritage, describing him as a “shining example of balance and political maturity”. "I had a very good relationship with him and knew him very well. The Telugu community is proud of him. He was a true Telugu bidda who reshaped the destiny of our great nation," the Chief Minister said.

Highlighting Rao's extraordinary intellect, Chief Minister Naidu noted, "He mastered 17 languages," embodying India's rich cultural diversity. He remarked that Rao's linguistic prowess serves as an inspiration in today's environment, where language often sparks debate.

The Chief Minister emphasised that Rao was among the rare leaders with firsthand experience in navigating India's socio-economic and political challenges, both before and after economic liberalisation.

Speaking about the pre-1991 economic landscape, the Chief Minister described a country shackled by the "License Raj," with growth stagnating at a mere 3-4 per cent. By 1991, India faced an unprecedented economic crisis, and foreign reserves had plummeted to dangerously low levels.

He drew a parallel between PV Narasimha Rao's strategic courage and that of China's Deng Xiaoping, who initiated China's reforms in 1978. He underscored that a leader's public policy combined with the political will to execute it forms a powerful combination. Recognising the crisis as an opportunity, Rao launched the historic 1991 economic reforms, fundamentally transforming India's future. "We are all here today enjoying the fruits of the reforms he initiated," Naidu said.

Praising PV Narasimha Rao's political acumen, the Chief Minister highlighted that despite leading a minority government, Rao achieved the “near-impossible" by forging consensus among socialists, communists, and capitalists. He credited Rao's pivotal role in ending the License Raj, welcoming foreign investment, and setting the stage for India's IT revolution in the mid-1990s. "Thanks to his reforms, India overcame its balance of payments crisis, opened up its economy, and set the stage for future growth," he added.

The Chief Minister reflected on the IT boom that followed economic liberalisation, crediting Rao for enabling India's "first-mover advantage." He emphasised India's strength in its demographic dividend, stating, "All countries are facing ageing problems. India has youngsters. I am 100 percent confident that India will become a global leader." Economic reforms, demographic dividend, and a first-mover advantage in IT continue to be India's greatest strengths, he observed. Naidu congratulated the Prime Minister's Museum and Library Committee for its efforts to preserve India’s political legacy. He also called upon the youth to enter politics, asserting, "Politicians shape policy. Youth must participate to shape the future."

The event concluded with the Chief Minister felicitating PV Prabhakar Rao, the former prime minister's son, and NV Subhash, his grandson. A question-and-answer session and prize distribution to young achievers followed.