PM Modi credits ‘political stability and political predictability’ for boost in investor confidence. India News

Prime Minister Narendra Modi on Sunday said that the private sector will be pivotal in steering India’s next stage of economic transformation. Emphasizing structural reforms, digital expansion and defense modernisation, he also strongly criticized the previous UPA government’s performance.

He noted that substantial industry investments in innovation and capacity building will be essential to realize the vision of Viksit Bharat.

PM Modi highlighted the series of trade agreements that India has recently concluded with several countries, including the United States and the European Union.

In an excusive interview with news agency PTI, PM Modi said that reform has remained a fundamental pledge of his government, both in “letter and spirit”, adding that consistent policies and firm decision-making have powered substantial progress.

In the interview, PM Modi said the private sector would be critical to the next phase of India’s economic transformation and called for a “decisive response” from industry, urging business leaders to share productivity gains fairly with workers.

He asserted that the journey towards Viksit Bharat would depend on bold private investment in innovation, long-term capacity creation and global competitiveness, while encouraging companies to focus less on protecting margins and instead invest aggressively in research and development, supply chains and quality enhancement.

Highlighting trade policy, he said India’s free trade agreements are designed to expand market access for MSMEs in textiles, leather, chemicals, handicrafts, gems and other sectors.

PM Modi described data centers as a major source of employment for India’s youth and invited global data firms to establish operations in the country, adding that India has emerged as a global digital leader due to foundational reforms that transformed transactions through the Unified Payments Interface platform.

He said India is laying the groundwork for a robust artificial intelligence ecosystem by expanding computing power and data center infrastructure, while also undertaking the most extensive infrastructure push in its history with a focus on future readiness.

Stressing national security, he said the government has a duty to modernize the defense sector in line with present realities and will take all necessary steps to strengthen the country’s armed forces.

PM Modi further stated that political stability and predictability have restored investor confidence, contrasting this with the UPA era, when negotiations often began but broke down with limited tangible outcomes.

He also affirmed that the welfare of women guides every decision of his government, expressing his conviction that women will play the most significant role in building Viksit Bharat.