In a virtual post-Budget webinar on Tuesday, Prime Minister Narendra Modi suggested to India's industry leaders and MSMEs to follow a new strategy of building, making, connecting, and exporting. In the webinar, in which the topic was "Sustaining and Strengthening Economic Growth," the Prime Minister said that manufacturing, logistics, and MSMEs are the interconnected engines of the national economy, and their combined strength is critical to India's global ambitions.
The Prime Minister was clear that with numerous Free Trade Agreements (FTAs) now in place, the "highway of development" is open for Indian businesses. However, he issued a firm reminder that global success hinges on quality. "Our products must not only meet global standards but surpass them," he said, adding that businesses must proactively research the specific needs and expectations of international consumers to remain competitive. He noted that as global supply chains are being reshaped, the world is looking for "trustworthy and resilient" manufacturing partners—a role he believes India is uniquely positioned to fill.
One of the highlights of the discussion was the newly announced Biopharma SHAKTI Mission. With a dedicated outlay of ₹10,000 crore— this mission aims to position India as a hub for biologics and next-generation therapies. This shift in focus from generic drugs to cutting-edge biopharmaceuticals promises to help the country capture a larger share of the global market and deliver affordable cutting-edge solutions to its citizens.
Concluding the session, the Prime Minister called for a "collective ownership" of these economic goals. He stressed that ground-level changes can only be achieved if the industry, financial institutions, and state governments work in lockstep. He urged stakeholders to focus on reducing cost structures and accelerating investment flows, particularly into India's remotest regions, to ensure that the march toward a "Viksit Bharat" (Developed India) is truly inclusive.
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