PM Modi Calls Budget 2026 a Launchpad for Developed India, Urges Private Sector to Act Boldly

PM Modi Calls Budget 2026 a Launchpad for Developed India, Urges Private Sector to Act Boldly​

Prime Minister Narendra Modi on Sunday described the Union Budget 2026-27 and a series of recently concluded global trade agreements as the foundation for India’s journey toward becoming a Developed India. Speaking in an extensive interaction, he urged the private sector to take more aggressive and bold steps in the next phase of economic transformation.

Budget 2026-27 Reflects Long-Term Vision​

According to the Prime Minister, the latest budget is not a routine financial exercise but part of a broader strategy built over decades. He said that his approach to governance has consistently focused on continuity of purpose, step-by-step implementation, and a long-term national vision.

Calling productive spending a hallmark of his administration, Modi stated that the Union Budget 2026-27 deliberately avoids short-term populism. Instead, it channels record capital expenditure into infrastructure, with the objective of generating jobs and driving sustainable growth.

He emphasized that the budget aims to strengthen the manufacturing ecosystem, expand value addition, and bring skill and scale together. The ultimate goal, he said, is self-reliance and large-scale job creation.

“This is not a now or never moment born out of compulsion. It is a we are ready moment born out of preparation and inspiration,” he said, describing the budget as a reflection of India’s aspiration to become a developed nation.

India Expands Trade Footprint with 38 FTAs​

Highlighting India’s growing global trade engagement, Modi said the country now has free trade agreements with 38 partner nations, describing it as an unprecedented milestone in India’s trade history.

He pointed to recently concluded landmark trade deals with the European Union and the United Kingdom, which secured tariff reductions and expanded market access for goods and services. India has also reached an understanding with the United States to ease tariff friction and deepen trade engagement.

These agreements, he said, have been negotiated from a position of strength, supported by stronger manufacturing, services, and MSMEs. The deals span continents and include countries of varying economic strengths, reinforcing India’s integration into global supply chains.

The Prime Minister credited political stability and policy predictability for restoring investor confidence and enabling India to negotiate from a stronger footing.

Three Pillars for the Next Three Decades​

Modi outlined three key priorities for the coming decades:

• Continued structural reforms to improve competitiveness and productivity
• Deeper innovation across technology, manufacturing, and services
• Simpler governance to allow citizens and businesses to operate with greater ease and trust

He acknowledged the progress made so far under what he called the Reform Express but said he is never fully satisfied. Public life, he noted, requires constructive restlessness and a constant drive to improve.

Private Sector Must Lead the Next Leap​

Looking ahead to the 2047 vision of Developed India, Modi said the next leap will depend heavily on the private sector’s willingness to invest boldly in innovation and long-term capacity building.

He urged corporate India to increase investment in research and development, adopt frontier technologies, deepen supply-chain capabilities, and compete on quality and productivity rather than protected margins.

“Policy can only create the enabling framework,” he said, adding that durable competitiveness must rest on innovation, efficiency, and scale.

He also stressed the importance of sharing productivity gains fairly among workers, shareholders, and owner-managers. Rising real wages, skill upgrading, and stable employment, he said, are essential for sustaining domestic demand and social cohesion.

Women at the Core of Developed India Vision​

Modi asserted that women will play the most important role in the creation of a developed India. He emphasized that empowering women remains central to the country’s long-term growth trajectory.

Defense Modernization and Digital Infrastructure Push​

Addressing the rise in defense spending and military modernization, the Prime Minister said the impact of a decade of defense reforms was visible during Operation Sindoor. He underlined that India must remain prepared at all times to deal with evolving security challenges.

He also highlighted fresh budget incentives aimed at accelerating investments in data centers and positioning India as a global hub for digital infrastructure and artificial intelligence. Modi said India is ready to host global data flows and lead the next wave of technological transformation.

Global AI Impact Summit in New Delhi​

The remarks come ahead of the Global AI Impact Summit scheduled from February 16 to 20 in New Delhi. The summit will bring together heads of state and government, technology leaders, policymakers, investors, and innovators from more than 60 countries.

Among those expected to attend are French President Emmanuel Macron and Brazilian President Luiz Inácio Lula da Silva, along with other global leaders.

As India prepares to host this global gathering, the Prime Minister’s message is clear: the policy framework is in place, global trade doors are opening wider, and the next decisive push must come from industry, innovation, and national ambition aligned toward the goal of Developed India by 2047.