PM Modi urges industry to step up, leverage global opportunities

Prime Minister Narendra Modi on Mar 4 urged Indian industries to take bold steps in manufacturing and exports, emphasizing the need for innovation and deeper integration into the global supply chain.

Speaking at a post-budget webinar on Regulatory, Investment, and Ease of Doing Business Reforms, he called on businesses to seize emerging opportunities rather than remain "mere spectators."

"Today, India provides stable policies and a conducive business environment. I urge industries to take decisive action to expand manufacturing and exports," Modi said.

He highlighted India’s position as a global growth engine and a trusted partner in international trade, underscoring the country’s resilience during challenging times.

Modi stressed the importance of research and development (R&D) to create innovative products with strong global demand, thereby driving exports. He also highlighted the need for improved credit access for MSMEs, advocating for new mechanisms to ensure affordable and timely financing.

Referring to the Production-Linked Incentive (PLI) scheme, Modi noted that incentives across 14 sectors have already attracted over ₹1.5 lakh crore in investments, leading to ₹13 lakh crore worth of production. He also pointed to the government’s reforms in reducing bureaucratic hurdles, with over 40,000 compliances scrapped at both central and state levels to enhance ease of doing business.

Emphasizing the role of states in driving investment, Modi urged them to adopt progressive policies that appeal to investors. He described the Union Budget as a game-changer, exceeding expectations and laying a strong foundation for economic expansion.

Modi’s message was clear: India's industry must be proactive in driving economic growth by embracing innovation, increasing exports, and solidifying the nation’s standing as a reliable global player.