Prime Minister Narendra Modi has given the first interview after the Union Budget and trade deal with America and European Union. Speaking to news agency PTI, PM Modi said that India’s strong manufacturing sector, service sector and MSME (Micro, Small and Medium Enterprises) sector enabled us to enter into Free Trade Agreements (FTAs) with 38 countries on our own terms.
PM Modi told the purpose of FTA
On the trade deal, PM Modi said that political stability, political predictability restored the confidence of investors in India. He said that the objective of our free trade agreement is to expand market access for small and medium enterprises in textile, leather, chemical, handicrafts, jewelery and other sectors. He said, ‘This year’s budget reflects India’s desire to become a developed nation. The budget is not a ‘now or never’ opportunity born out of compulsion, rather it is a ‘we are ready’ moment born out of preparation and inspiration.
PM Modi spoke on increase in defense budget
Referring to the increase in the defense budget, PM Modi said, ‘The government will do whatever it takes to help and strengthen the country’s defense forces. It is the responsibility of the government to modernize the defense sector according to the current situation. Taking aim at the Congress-led UPA government, PM Modi said, ‘They have not left India in a position to negotiate with confidence. During the UPA government, talks used to start and then break off, but despite long talks, no concrete result could be achieved.
PM Modi said, ‘Private sector should pay less attention to saving margins. They should invest in research and development, supply chain and quality. The next leap forward for developed India will depend on private sector investment in innovation, long-term capability and global competitiveness.
