New Delhi : Prime Minister Narendra Modi on Tuesday addressed the second edition of the Budget Webinar series centred on the theme “Sustaining and Strengthening Economic Growth,” highlighting the government’s roadmap for accelerating India’s economic momentum and strengthening key sectors.
Referring to the success of the first webinar held earlier, the Prime Minister said it generated valuable suggestions for effective implementation of the Union Budget provisions. He noted that the current session builds on that momentum and focuses on reinforcing long-term economic growth.
The Prime Minister observed that as global supply chains undergo significant realignment, India’s strong economic performance has emerged as a source of confidence for the world. He said the rapid pace of economic development is laying a solid foundation for the vision of Viksit Bharat (Developed India).
Reiterating the government’s guiding principles, he highlighted the focus on “Build more, produce more, connect more, and export more,” adding that discussions and recommendations from the webinar would play an important role in shaping future policy implementation.
Underlining the interconnected nature of economic sectors, the Prime Minister said manufacturing, logistics, MSMEs and urban development function as mutually reinforcing pillars of growth. While manufacturing drives exports, competitive MSMEs contribute to innovation and flexibility within the economy. He noted that the current Budget has strengthened these sectors to support sustained expansion.
At the same time, the Prime Minister stressed that policy initiatives alone are not sufficient without active participation from industry, financial institutions and state governments. He urged stakeholders to focus on enhancing manufacturing output, improving productivity and making cost structures globally competitive.
Highlighting specific initiatives, the Prime Minister spoke about efforts to strengthen the manufacturing ecosystem and remove existing bottlenecks, including the development of dedicated rare earth corridors and container manufacturing capabilities to support trade.
He also drew attention to the Biopharma Shakti Mission announced in the Budget, which aims to position India as a global hub for biologics and advanced therapies by boosting research and manufacturing in the sector.
Commenting on global economic shifts, the Prime Minister said many countries are seeking reliable manufacturing partners and encouraged businesses to invest in advanced technologies, research and high-quality production standards to seize emerging opportunities.
On Free Trade Agreements (FTAs), he said these agreements are opening new markets and called on Indian industry to prioritise quality and understand the needs of international consumers in order to maximise the benefits.
Discussing the MSME sector, the Prime Minister noted that recent classification reforms have reduced concerns about expansion among small enterprises. While government support in credit and technology continues, he emphasised the need for MSMEs to enhance productivity, adopt digital processes and integrate into global value chains.
The Prime Minister also highlighted infrastructure and logistics as central pillars of the growth strategy, supported by record capital expenditure in the Budget. Expansion of high-speed rail networks, multimodal connectivity and ship repair facilities, he said, will improve efficiency and competitiveness.
On urban development, he said the country’s future growth will depend on effective planning of cities and invited suggestions on how Tier-II and Tier-III cities can emerge as new engines of economic growth.
Addressing sustainability, the Prime Minister noted that global markets are increasingly factoring in environmental responsibility along with cost considerations. He cited the Carbon Capture, Utilisation and Storage Mission as a key initiative and urged industries to integrate clean technologies into their business strategies.
Concluding his address, the Prime Minister called for collective ownership in achieving the vision of a developed India and encouraged participants to translate discussions into actionable outcomes in partnership with the government.