PTI
New Delhi
Prime Minister Narendra Modi on Thursday asserted that the country was emerging as a “ray of hope” for the world and pointed to the free trade pact with the European Union, saying it for an “ambitious India” and manufacturers should seize this opportunity to enhance capacities.
Addressing the media at the beginning of the Budget session of Parliament, Modi said India was moving rapidly on the Reform Express and thanked parliamentarians for contributing their positive energies to the unveiling of reforms.
Modi said even his critics acknowledge the government’s focus on last-mile delivery and this tradition will continue with the next generation reforms.
India’s democracy and demography, he said, offer great hope for the world. He asserted that the present time is not for disruption but for solutions, not for obstacles but for resolution.
The Prime Minister said the Budget session marked the culmination of the first quarter of the 21st century and the beginning of the next quarter.
“The year has begun on a very positive note, with a confident India emerging as a ray of hope and a centre of attraction for the world,”” he said.
Modi said the Free Trade Agreement (FTA) between India and the European Union at the start of this quarter reflected the bright future of India’s youth and the promising directions ahead. “This agreement is free trade for an ambitious India, for aspirational youth, and for an Atmanirbhar Bharat (self-reliant India),” he said.
The Prime Minister expressed firm belief that India’s manufacturers will seize this opportunity to enhance their capacities.
Modi said the “mother of all deals” with the European Union has opened up a vast market and Indian goods will reach there at lower costs. He asked industry leaders and manufacturers to guard against complacency and instead focus on quality.
Entering this open market with the best quality products will not only earn profits from buyers across 27 EU countries but also win their hearts, creating a long-lasting impact for decades, the prime minister said. He noted that companies’ brands, aligned with the nation’s brand, will establish new prestige.
India and the European Union on Tuesday announced the conclusion of negotiations for the FTA, described as ‘mother of all deals’, under which 93% of Indian shipments will enjoy duty-free access to the 27-nation bloc, while import of luxury cars and wines from the EU will become less expensive.
The deal, concluded after negotiations spanning about two decades, will create a market of about 2 billion people across the world’s fourth-largest economy, India, and the second-largest economic bloc, the EU.
The Prime Minister said the focus of his government has always been human-centric and for all-round development of the country. He said while India will compete with technology, absorb it, and accept its strengths, the government will never compromise on human-centric systems.
