Invest With Confidence, Modi Tells India Inc
Stressing that India has entered into free trade agreements with numerous countries, he said, these agreements have opened up a wide range of opportunities for the country
New Delhi: Prime Minister Narendra Modi on Tuesday called on industry to step up investment and research to scale up domestic manufacturing, stating that India must position itself as a reliable partner in global supply chains.
Addressing the second webinar on the Union Budget 2026-27, Modi said policy direction alone would not deliver results without active participation from industry, financial institutions and state governments. He urged stakeholders to focus on expanding manufacturing and production while making cost structures more competitive.
“It will leverage the vast opportunities offered by free trade agreements or FTAs with various nations. The world is now looking for reliable and resilient manufacturing partners, and India has the opportunity to play this role decisively to enhance the country’s participation in the global supply chain,” he said.
Stressing the need for higher research spending and adoption of new technologies, the Prime Minister said quality must align with global standards. “For this, all stakeholders must invest with confidence, adopt new technologies, and increase investment in research — 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,” he said.
On free trade agreements, Modi said India had entered into FTAs with several countries, creating new opportunities for domestic industry. “In such a situation, 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.
“We need to study the needs and expectations of other countries and conduct thorough research. We must understand the preferences and comfort of consumers in those markets. In today’s competitive world, quality is what gives us a golden opportunity. We must create user-friendly products tailored to their needs. Only then, India can truly benefit from the opportunities opened by various free trade agreements, which have created a highway of growth for you,” he added.
The Prime Minister said manufacturing, logistics, MSMEs, small and cottage industries, and urban centres function as interconnected pillars of the economy, and that the current Budget had strengthened each of them.
“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.
Highlighting infrastructure and logistics as central to the growth strategy, Modi said the Budget proposed record capital expenditure to support these priorities.
“Our direction is clear. Our resolve is clear. Build more, produce more, connect more, and now there is a need to export more. 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,” he said.
Referring to sectoral initiatives, he said the government was focusing on dedicated rare earth corridors and container manufacturing to strengthen the trade ecosystem. He also cited the announcement of the BioPharma Shakti Mission.
