India negotiated recent trade agreements with global partners from a “position of strength”, PM Modi said, crediting stronger manufacturing and MSMEs for boosting the country’s bargaining power.
Prime Minister Narendra Modi on Sunday said India negotiated recent trade agreements with the United States, the European Union and other nations from a “position of strength”, crediting stronger manufacturing and the MSME sector for enhancing the country’s bargaining power.
In an interview with PTI, the prime minister said political stability and policy predictability have restored investor confidence and strengthened India’s economic credibility as it signs multiple free trade agreements with global partners.
Manufacturing, services boost negotiating confidence
PM Modi said India’s expanding manufacturing and services base has enabled it to approach trade negotiations with greater confidence. He added that recent FTAs are designed to expand market access for MSMEs across sectors such as textiles, leather, chemicals, handicrafts and gems.
Referring to the previous United Progressive Alliance government, Modi alleged that economic mismanagement during that period weakened India’s negotiating position and led to trade talks that often stalled without concrete outcomes.
Earlier, Commerce and Industry Minister Piyush Goyal said India finalised several free trade agreements in recent years, with negotiations also under way or planned with partners including Chile, Peru and Canada.
Defence modernisation and rising allocation
The prime minister reiterated that his government remains committed to modernising and strengthening India’s defence forces in line with evolving security realities, pointing to an increase in defence spending. In the Union Budget 2026–27, the government allocated Rs 7.85 lakh crore to the Ministry of Defence, marking a 15 percent rise from the previous budget.
PM Modi said the urgency around national security has become a collective national resolve and that India continues to demonstrate resilience across multiple challenges while remaining a bright spot of growth amid difficult global conditions.
Budget reflects governance priorities: PM
Praising the Union Budget 2026, PM Modi said it avoids populism and focuses on record capital expenditure to boost infrastructure, employment and sustainable growth. He described the budget as a reflection of the Centre’s governance approach and long-term priorities, adding that it represents the next phase of reform momentum and aims to equip India’s youth for a rapidly changing global environment.
PM Modi calls for private sector investment
PM Modi also urged the private sector to make bold investments to help India progress towards the goal of Viksit Bharat. He said outdated infrastructure has no place in a developed nation and that the government has transformed the sector through large-scale, next-generation projects.
He emphasised that infrastructure expansion reflects a strategic choice to invest in productivity, employment generation and future economic capacity rather than short-term populist measures, with a focus on improving quality of life, creating jobs for young people and accelerating national development.
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