PM Narendra Modi Urges Indian Industry to Seize Global Opportunities, Boost Manufacturing and Exports

New Delhi, March 4: Prime Minister Narendra Modi on Tuesday called upon Indian industries to proactively seize global opportunities, emphasizing that India has emerged as a trusted global partner for high-quality products amid worldwide supply-chain disruptions.

Speaking at a post-Budget webinar focusing on Regulatory, Investment, and Ease of Doing Business Reforms, PM Modi highlighted India's position as a resilient growth engine even in times of global economic uncertainty.

"Our country is capable, our industry is capable—this is a great opportunity for us," Modi emphasized, urging industry leaders not to remain passive spectators but to actively identify and harness opportunities arising from international demand.

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India’s Resilience Amid Global Economic Challenges​

Modi pointed out the significant global shift towards India, noting that economic uncertainties and geopolitical tensions have led countries worldwide to seek dependable partners.

He underscored:

"Today, India is a growth engine for the global economy. Every country wants to strengthen its economic partnership with India. Our manufacturing sector must capitalize on these opportunities."

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Reiterating the government’s consistent efforts over the past decade towards economic reforms, transparency, financial discipline, and inclusive growth, Modi affirmed continued government support for industry players.

Manufacturing as India's Backbone​

The Prime Minister highlighted manufacturing as crucial to India's industrial growth and exports, encouraging industry stakeholders to identify new product segments with global demand that can be effectively manufactured in India and subsequently exported.

Stressing the critical role of Research & Development (R&D), Modi advised:

"Industry should focus on manufacturing innovative products and adding value through R&D."

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Leveraging Strength in Labour-Intensive Sectors​

Recognizing India's strengths in labour-intensive industries such as toys and footwear, PM Modi recommended merging traditional craftsmanship with modern technology to elevate India to global leadership in these sectors.

"By combining traditional craft with modern technology, we can achieve global leadership, significantly increase exports, and create substantial employment opportunities," he added.

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Encouraging Competitive Federalism​

Addressing state governments directly, Modi urged them to accelerate ease-of-doing-business reforms to attract more investments. He highlighted the importance of competitive federalism, suggesting states compete with progressive policies to become attractive investment destinations.

"States should compete amongst themselves," he stated. "Those adopting progressive policies will naturally attract greater investment."

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Through this call-to-action, PM Modi sought to inspire industry confidence, fostering a collaborative approach between government and industry to enhance India's global competitiveness and economic prosperity.