Prime Minister Narendra Modi stated that India remains a beacon of hope for the world due to its strong economy. He said that as India emerges as a beacon of hope, rapid economic development has become essential for achieving the vision of "Viksit Bharat" (Developed India).
Speaking in a post-budget webinar on the theme "Sustaining and Strengthening Economic Growth," through video conferencing, Mr. Modi said that today, the world is looking for reliable and resilient manufacturing partners. He added that India has the opportunity to become a key player in this direction.
Prime Minister Modi emphasized that the government's intention and resolve are clear: to build more, produce more, connect more, and export more. He said that India has entered into free trade agreements with many countries, opening up vast opportunities for the nation. He added that it is everyone's responsibility to maintain high quality standards, and that products should meet global standards.
Prime Minister Modi urged industries to increase investment in research and development and to focus on quality. He said that to achieve real change, industries, financial institutions, and state governments must work together to make this a reality.
He mentioned that the budget includes provisions for the "Biopharma Shakti" mission, which aims to establish India as a global hub for biologics and next-generation therapies. He said that the mission seeks to position the country as a leader in advanced biopharma research and manufacturing.
Prime Minister Modi stated that a major transformation is taking place in the global economy today. He said that markets are no longer solely focused on cost, but also on sustainability. He added that industries that invest early in clean technologies will gain better access to emerging markets in the years ahead.
Mr. Modi said that the reforms introduced by the government in the MSME sector are showing a wide impact. He said that developing a high-capacity transport system, better coordination between railways, highways, ports, airports, and waterways, and expanding multi-modal connectivity are essential to reduce logistic costs.