FTAs signed with 38 countries in a strong position, PM Modi said – India’s position has become stronger due to increased economic strength.

New Delhi. Prime Minister Narendra Modi Has said that India has signed Free Trade Agreements (FTA) with 38 countries not under any pressure, but in a strong and confident position. He says that in the last few years, there has been a significant increase in India’s economic capacity, production power and global credibility, the direct effect of which has been seen in trade negotiations.

News agency Press Trust of India In a detailed interview to (PTI), the Prime Minister said that India is now emerging as not just a big market, but a reliable and competitive economic partner.

Strong economic base becomes India’s strength

The Prime Minister said that the manufacturing sector of the country is continuously expanding. Manufacturing in India has gained new momentum due to campaigns like ‘Make in India’ and Production Linked Incentive (PLI) schemes. With this, India has started playing a more important role in the global supply chain.

He said that India’s services sector—which includes IT, finance, healthcare and professional services—has made its mark across the world. Similarly, the MSME (Micro, Small and Medium Enterprises) sector has emerged as the backbone of the country’s economy.

According to the Prime Minister, the strength of these three sectors gave India the confidence to negotiate better terms in trade negotiations.

What will be the benefits of trade agreements?

The Prime Minister said that the objective of free trade agreements is not only to increase imports and exports, but also to provide easy access to global markets for Indian industries.

From these agreements:

• There is a reduction in the duties (tariffs) imposed on Indian products.

• Exporters get new markets.

• Foreign investment is encouraged.

• New employment opportunities are created.

He said that India is making such agreements in which protection of the interests of domestic industries has been given priority.

Confidence increased due to political stability and policy clarity

Prime Minister Modi stressed that political stability in the country and clear direction of policies (political predictability) have strengthened the confidence of investors.

He said that when the government is stable and policies are clear, investors feel comfortable in making long-term plans. This is why there has been an increase in Foreign Direct Investment (FDI) in India and global companies are considering India as a safe and promising destination for investment.

India’s credibility getting strengthened on the global stage

The Prime Minister also said that today India’s voice has become more influential than ever on global platforms. India is not only an emerging economy but is also playing its role as a partner in global development.

According to him, the free trade agreements signed with 38 countries are proof that India is now in a position to set terms in trade negotiations, and not just accept them.