PM Modi urges industry to seize FTA opportunities
Prime Minister Narendra Modi on Tuesday urged industry leaders to step up investments, embrace emerging technologies and prioritise research to leverage the opportunities offered by Free Trade Agreements (FTAs) with various nations.
Addressing the second webinar on Budget 2026-27, the PM said, the world is now looking for reliable and resilient manufacturing partners, and India has the opportunity to play this role and enhance the country’s participation in the global supply chain.
“Those days of being frugal in research are over . We must ensure quality in line with global standards. As I often say, when opportunities arise to move ahead, we must have only one mantra — Quality, Quality, Quality,” the PM said. ‘In such a situation, he said, “Our responsibility is that we should never compromise on quality. If there is one area where we must apply maximum strength, intelligence, and focus, it is quality. Our products must meet global standards,” he said. ‘Our direction is clear. Our resolve is clear. Build more, produce more, connect more, and now the need is to export more,’ he said.
He urged participants at the webinar to prioritise key issues such as ways to increase manufacturing and production, make cost structures more competitive, accelerate investment flows, and ensure that development reaches every corner of the country.
Stressing that manufacturing, logistics, MSMEs, small and cottage industries, and even small and large cities appear as separate pillars of the economy, he said they are all interconnected.
‘Strong manufacturing creates new opportunities and boosts exports. Competitive MSMEs promote flexibility and innovation. Better logistics reduce costs. Well-planned cities attract both investment and talent. This year’s budget has strengthened all these pillars significantly,’ he said.
Observing that the reforms made in MSME classification have had a wide impact, he said, ‘enterprises no longer fear that expanding their business will deprive them of government benefits. Continuous efforts have been made to improve MSMEs’ access to credit, promote technology upgrades, and build capacity.’
However, he said, the real impact of these efforts will be visible only when MSMEs actively participate in competition with the aim of winning.
Now is the time for MSMEs to increase productivity, raise quality standards, adopt digital processes, and integrate into strong value chains. Your suggestions in this direction will be extremely important, he added.
Highlighting the importance of infrastructure and logistics, he said, they serve as fundamental pillars of our growth strategy.This year’s budget proposes a record level of capital expenditure to support these priorities, he said.
