Modi Urges Industry to Drive Next Phase of Growth

Prime Minister Narendra Modi on March 3 addressed the second installment of the Post Budget Webinar series themed “Sustaining and Strengthening Economic Growth,” urging industry leaders and stakeholders to convert policy direction into measurable outcomes. Reflecting on the success of the first webinar, he noted that constructive suggestions had strengthened the implementation roadmap of Budget provisions.

Highlighting India’s position amid reshaping global supply chains, the Prime Minister described the country’s robust economy as a “beacon of hope” and a strong foundation for building a ‘Viksit Bharat.’ He reiterated the government’s core mantras—“Build more, produce more, connect more, and export more”—stressing that manufacturing, logistics, MSMEs, and urban development function as interconnected pillars of a unified economic structure.

Modi underlined that while the Budget has reinforced these pillars, meaningful progress requires active participation from industry, financial institutions, and state governments. He urged stakeholders to focus on enhancing manufacturing competitiveness, rationalizing cost structures, and expanding production capacity. Initiatives such as Dedicated Rare Earth Corridors and container manufacturing were cited as steps to strengthen the trade ecosystem.

The Prime Minister also spotlighted the ‘Biopharma Shakti Mission,’ aimed at positioning India as a global hub for biologics and next-generation therapies. He encouraged businesses to adopt advanced technologies, invest in research, and uphold global quality standards to seize opportunities created by Free Trade Agreements.
On MSMEs, Modi said recent classification reforms have eased expansion concerns, calling on small enterprises to improve productivity, embrace digital processes, and integrate into global value chains. He emphasized that record capital expenditure on infrastructure—spanning high-speed rail, multi-modal connectivity, and ship repair facilities—will yield results only if industry strategies align accordingly.

Addressing sustainability, he highlighted the Carbon Capture, Utilisation and Storage Mission and urged industries to integrate clean technologies to remain globally competitive. Concluding, the Prime Minister called for “collective ownership” to transform policy intent into on-ground growth.