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News Topical, Digital Desk : Prime Minister Narendra Modi said recent trade agreements are the result of a more competitive domestic industry, a confident approach and an open-minded approach. Before talking about trade agreements, it's important to recall where the country stood a decade ago.
Targeting the previous UPA government, he said that due to its economic mismanagement, India could not strongly present its point in the trade negotiations and not a single negotiation could reach a conclusion.
Three top priorities
In an interview with PTI, the Prime Minister also listed his top three priorities for the next three decades, ranging from trade deals, the Union Budget, defence reforms, and the role of women in a developed India. Modi said the trade agreements India has signed with Australia, New Zealand, the UK, the EU and the US have opened up avenues for MSMEs, especially in labour-intensive sectors, to export goods to these countries at almost zero duty or at much lower duty than other countries.
No concrete conclusions could be drawn
The previous UPA government attempted to reach some trade agreements during its tenure, but the process was fraught with uncertainty and instability. India was unable to present its case strongly, primarily due to its economic mismanagement. They failed to create a conducive environment for negotiations to reach a conclusion. Negotiations would begin and then stall, leaving no concrete conclusions.
After coming to power, we led an economic revival through policy-driven governance, strengthened the economic structure, and built a rules-based system. When we ensured political stability, policy predictability, and a reform-focused approach, the world became more willing to invest in India. Modi said his government's reforms helped both India's manufacturing and services sectors and boosted productivity and competitiveness among micro, small and medium-sized enterprises (MSMEs).
India's emergence as a confident, competitive, and rapidly growing economy has led many countries to see the benefits of pursuing trade agreements with India. "We now have FTAs with 38 partner countries, which is a major milestone in India's trade history," he said.
"The remarkable thing about these trade agreements is that they span multiple continents and involve countries with varying economic strengths. There is a renewed confidence in our country. Even in times of diverse challenges, our national character has been revealed, and we remain a shining beacon of hope in the face of difficult global circumstances."
Never satisfied by nature
The Prime Minister said the NDA government is committed to reforms, which it has truly delivered. His government's "reform express" is greatly benefiting the common man. His top three priorities for the next three decades will be continued structural reforms, fostering innovation, and further simplifying governance. Modi also said he is never satisfied by nature, believing that public life requires a certain creative restlessness, a constant desire to do more, improve faster, and serve better.
No budget was prepared from the perspective of books of accounts.
The Prime Minister said that the recently presented Union Budget deliberately avoided short-term populist announcements. Instead, record capital allocations were made for infrastructure to boost jobs and sustainable growth. Modi said that his government has used its tenure to address the structural gaps left by previous governments, undertake major reforms, and lay the foundation for a developed India. This budget represents the next level of that journey.
He said, "None of our budgets has been designed with a view to creating a general ledger... If one looks closely at my approach over the last 25 years, it becomes clear that our work is not done in pieces." This year's budget was not a "now or never" moment born out of compulsion, but a "we are ready" moment born of preparation and inspiration. This budget underlines India's "strong desire" to become a developed nation.
Invited data from around the world
Citing new incentives in the budget to boost investment in data centers, Modi also positioned India as a global hub for digital infrastructure and AI. He said the country is ready to host the world's data and lead the next wave of the technological revolution. "We invite the world's data to come to India!" the Prime Minister said.
Companies should invest with courage
The Prime Minister said that the next step towards a developed India by 2047 will depend on how boldly Indian companies invest in innovation, build long-term capabilities and establish themselves as globally competitive, technologically reliable and socially responsible engines of growth. The Prime Minister appealed to the progressive private sector to invest more aggressively in research and development, adopt cutting-edge technologies, strengthen supply chain capabilities and compete on the basis of quality and productivity rather than secure profits.
Women will play an important role in a developed India
Modi said that women will play a key role in building a developed India, and the government's initiatives will empower them. It is a matter of pride that over the past few years, Indian women have been advancing in various fields of science and technology, whether it be space or start-ups. He said that it is a matter of pride for the country that Finance Minister Nirmala Sitharaman has presented nine consecutive budgets, and many women across India feel inspired by this success.
Operation Sindoor shows the benefits of defense reforms
Addressing the increase in the defense budget and military modernization, Modi said the benefits of a decade of defense reforms were clearly visible during "Operation Sindoor," and asserted that India must remain prepared at all times to meet security challenges. As a country that is playing an increasingly important role in the world, India has a responsibility to modernize its defense sector to reflect current realities.
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