PM Narendra Modi Calls For Industry Push At Post Budget Webinar On Economic Growth

Prime Minister Narendra Modi on Tuesday addressed the second installment of the post-Budget webinar series on the theme “Sustaining and Strengthening Economic Growth” and called for collective efforts to accelerate India’s development.

Recalling the previous session, the Prime Minister said the first webinar was a huge success and yielded valuable suggestions on Budget implementation.

He said the current webinar is closely linked to continuously powering the country’s economic growth. Referring to shifting global supply chains, he noted that India’s strong economy has emerged as a ray of hope for the world.

"The rapid progress of the economy is a huge foundation for a ' developed India '," Shri Modi said.

Reiterating the government’s vision, he underlined the mantra of “Build more, produce more, connect more, and export more”.

"Certainly, the discussions that will take place among you today and the suggestions that will emerge from these discussions will play a major role," he said.

The Prime Minister said manufacturing, logistics, MSMEs and urban centres are interconnected pillars of a single economic framework. He said manufacturing boosts exports, while competitive MSMEs drive flexibility and innovation.

"this year's Budget has given a lot of strength to all these pillars," Shri Modi said.

He cautioned that policy direction alone will not deliver results without active participation from industry, financial institutions and state governments. He urged stakeholders to focus on increasing production, improving output and making cost structures more competitive.

"Your suggestions in these directions will be important in taking development to every corner of the country," he said.

Highlighting efforts to strengthen manufacturing, he said the government is working to remove bottlenecks and build core competencies.

"The focus on areas like dedicated rare earth corridors and container manufacturing is aimed at strengthening the business ecosystem," Shri Modi said.

Referring to the ‘Biopharma Shakti Mission’ announced in the Budget, he said it aims to position India as a global hub for biologics and next generation therapies.

"We want to move towards leadership in advanced biopharma research and manufacturing," Shri Modi said.

He observed that the world is seeking reliable and resilient manufacturing partners amid changing global dynamics. He urged stakeholders to invest with confidence, adopt advanced technologies, increase research spending and maintain global quality standards.

"India has the opportunity to play this role with strength," he said.

On Free Trade Agreements, he said these pacts have opened vast opportunities and placed new responsibility on Indian industry to focus on quality and consumer preferences.

"Only then will we be able to tap the opportunities created by FTAs," Shri Modi said.

On MSMEs, he said recent classification reforms have removed the fear of expansion among small enterprises. He stressed that their true potential will be realised when they compete globally.

"Now is the time for MSMEs to further enhance their productivity, raise their quality standards and connect with digital processes and robust value chains," he said.

The Prime Minister described infrastructure and logistics as key pillars of national development, supported by record capital expenditure in the Budget. He cited expansion of high speed rail, multimodal connectivity and ship repair facilities as steps towards greater efficiency.

"The real benefits of this infrastructure will be realized only when industry and investors align their strategies accordingly," he said.

On urbanisation, he said India’s growth is linked to effective planning and management of cities and invited suggestions on how Tier II and Tier III cities can become new growth centres.

Referring to sustainability, he said global markets now assess environmental impact alongside cost. He described the ‘Carbon Capture, Utilisation and Storage Mission’ as an important initiative and urged businesses to adopt clean technology.

"Industries that invest in clean technology on time will get better access to new markets in the years to come," Shri Modi said.

Calling for collective ownership of the goal of a developed India, he urged participants to move beyond discussion and deepen collaboration with the government.

"Every suggestion you make and every experience you have has the potential to bring about great results on the ground," he said.