India's trade agreements are the result of confidence and reforms - PM Modi (file photo)
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PTI, New Delhi. Prime Minister Narendra Modi said the recent trade agreements are the result of a more competitive domestic industry, a confident approach and open-mindedness. Before talking about trade deals, it is important to remember where the country stood a decade ago.
Taking aim at the previous UPA government, he said that due to its economic mismanagement, India could not present its position strongly in trade negotiations and not a single negotiation could reach a conclusion.
The Prime Minister, in an interview with PTI, also listed his top three priorities for the next three decades ranging from trade deal, general budget, defense reforms, role of women in a developed India. Modi said the trade agreements India has signed with Australia, New Zealand, Britain, 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 much lower duty than other countries.
no concrete conclusion could be drawn
The previous UPA government tried to make some trade deals during its rule, but the journey was full of uncertainty and instability. Mainly due to their economic mismanagement, India could not present its position strongly. He did not create a conducive environment for the talks to conclude. The conversation would start and then stall and no concrete conclusion could be reached.
After coming to power, we led economic revival through policy-based governance, strengthened the economic structure and built a rules-based system. When we ensured political stability, policy predictability and a reform-centric approach, the world became willing to invest in India. Modi said the reforms undertaken by his government have helped both India's manufacturing and services sectors and boosted productivity and competitiveness among MSMEs.
India's emergence as a confident, competitive and fast-growing economy has led many countries to pursue trade agreements with India. “We now have FTAs with 38 partner countries, which is a huge milestone in India's trade history,” he said.
A special feature of these trade agreements is that they are spread across several continents and include countries with different economic strengths. There is a new confidence in our country. Our national character has come to the fore even in times of various challenges and we are a shining ray of hope even in difficult global circumstances.
never satisfied due to nature
The Prime Minister said that the NDA government is committed to reforms, which it has truly demonstrated. The common people are benefiting a lot from his government's "Reform Express". His top three priorities for the next three decades will be continued structural reforms, increased innovation and greater ease of governance. Modi also said that by nature he is never satisfied because he believes that public life requires a kind of creative restlessness, a constant desire to do more, to improve faster and to serve better.
No budget was prepared from the point of view of accounting.
The Prime Minister said that short-term populist announcements were deliberately avoided in the recently presented Union Budget. Instead, record capital allocations were made to infrastructure to promote jobs and sustainable growth. Modi said his government has used its tenure to plug structural gaps left by previous governments, undertake major reforms and lay the foundation of a developed India. This budget represents the next level in that journey.
He said, "None of our budgets have been made with the view of creating a common ledger account... If one looks closely at my approach in 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.
Citing new incentives in the budget to boost investment in data centres, Modi also pitched 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 technological revolution. The Prime Minister said, “We invite data from the entire world to come to India!”
Companies should invest with courage
The Prime Minister said 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 credible and socially responsible engines of growth. The Prime Minister appealed to the progressive private sector to invest more rapidly in R&D, adopt latest technology, strengthen supply chain capabilities and compete on the basis of quality and productivity rather than secure profits.
Women will play an important role in developed India
Modi said that women will play the most important role in making a developed India and the government's initiatives will strengthen them. It is a matter of pride that in the last few years, Indian women have been progressing in different fields of science and technology. Be it space or start-up. She 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 are feeling inspired by this success.
Benefits of defense reforms seen in Operation Sindoor
On increase in defense budget and military modernisation, Modi said the benefits of a decade of defense reforms were clearly visible during 'Operation Sindoor' and said India has to be prepared at all times to deal with security challenges. As a country that is playing an increasingly important role in the world, India has the responsibility to modernize its defense sector as per the current reality.
Chyawanprash is a part of every Indian's life, it reduces diseases and increases energy.