Prime Minister Narendra Modi made a special appeal to the private sector and said that they should focus less on profits. Apart from this, he also expressed his views regarding future economic changes. PM Modi has given this interview to PTI news agency. This is the first interview given after the deal with America, EU and Union Budget 2026.
PM Modi said that the private sector will play an important role in promoting the next phase of India’s economic transformation. He also emphasized on issues like digital growth and defense modernization. Apart from this, he has said that big investments as per the capacity of innovation and industry are necessary to achieve the vision of developed India.
PM Modi has said that along with industrialization and urbanization, many youth from rural areas want to go to cities and work in globally connected industries. For them, only revolution in manufacturing and services can fulfill their expectations.
Previous governments did not work in manufacturing sector: PM Modi
He said that these should have been taken care of before our government came to power. Unfortunately, not much was done in this direction during the previous governments. But we have changed our method. Manufacturing has always been central to our vision of a developed India. No country can progress rapidly by just being a consumer. They will have to become high quality producers at the global level.
For this, Make in India was started. Production linked incentive schemes with targeted interventions have been introduced over time. With these efforts, the base of India’s industry is being rebuilt. We are being added to global value chains. Employment is being created on a large scale. We are helping our youth develop the necessary skills for this. Their results are also visible.
India has broken previous export records: Narendra Modi
PM Modi said that India’s export of goods has broken previous records. After a decade, India is the second largest mobile phone manufacturing country in the world. Earlier India used to import all its mobile phones. He said that famous phone brands from all over the world are being made in India. Defense manufacturing is increasing.
He said that India is a reliable supplier of pharmaceuticals. Our electronics manufacturing has also increased. Similar progress can be seen in textiles, engineering goods, and chemicals. This change is clearly visible in those sectors which were once taken very lightly.
Also said that apart from this, export of toys in India has increased rapidly in the last decade. Everyone knows that the startup revolution has come in India because of our young innovators. We have grown from just a few hundred startups to more than 2 lakh startups within a decade. Often we think of tech startups, but there are many manufacturing related startups among them. This is creating employment opportunities for our youth. The increase in manufacturing has created a large number of jobs for our youth.
Budget 2026 takes manufacturing strategy forward: Narendra Modi
Apart from this, he said that the budget takes forward the 2026 manufacturing strategy. This will strengthen this area. Overall, Budget 2026 is about strengthening the manufacturing ecosystem, creating an environment by bringing together value addition and skill-scale. The end result will be self-reliance and large-scale job creation. However, there is a request from the dynamic private corporate sector that Indian firms should invest more in research and development. Frontier technology should be adopted. The capacity of the supply chain should be increased. One should compete for quality and productivity rather than product profits.
