NEW DELHI: Prime Minister Narendra Modi says recent free trade agreements have opened massive opportunities, placing responsibility on Indian industry to emphasise quality. Addressing a Budget webinar on ‘Sustaining and Strengthening Economic Growth’, Modi stressed researching international consumer preferences to create user-friendly products.
Speaking about MSMEs, Modi noted classification reforms have removed expansion fears among small enterprises. He emphasised MSMEs entering global competition, increasing productivity, raising quality standards, and connecting with digital processes.
Modi said manufacturing, logistics, MSMEs, and urban centres are interconnected pillars of a single economic structure. India’s robust economy is a beacon of hope as global supply chains reshape. “The rapid progress of the economy is a massive foundation for a ‘Viksit Bharat’,” he remarked, adding that manufacturing drives exports while competitive MSMEs foster flexibility and innovation.
He highlighted the budget’s focus on manufacturing, infrastructure, and logistics, and urged stakeholders to prioritise increasing manufacturing and production. “The focus on sectors like Dedicated Rare Earth Corridors and container manufacturing is aimed at bolstering the trade ecosystem,” he said.
PM Modi also highlighted ‘Biopharma Shakti Mission’, aiming to position India as a global biopharma hub for next-generation therapies.