PM Modi Urges MSMEs: Build, Produce, Connect & Export More for Growth

Addressing a post-Budget webinar on "Sustaining and Strengthening Economic Growth" via video conferencing, the Prime Minister stated that the nation's economic pillars, manufacturing, logistics, and MSMEs, are linked together.

"Our direction and resolve are clear. Build more, produce more, connect more and now we need to export more. It is sure that the suggestions you all give today will play a vital role in this. All of you know that manufacturing, logistics, MSMEs... are the pillars of the economy. They are all interconnected. Such strong manufacturing creates new opportunities," he said.

He noted that strong manufacturing creates new opportunities across these sectors, "We must create user-friendly products to meet these needs; only then will we be able to take advantage of these opportunities. And with the free trade agreement now in place, this highway of development is ready for you," he said.

"Today, India's strong economy remains the world's hope", and emphasised that "rapid economic progress is a major foundation for a developed India," Modi said.

Speaking about global competitiveness, the Prime Minister stressed that, "Now we must invest heavily in research and ensure quality in accordance with global standards. India has signed free trade agreements with many countries. A huge avenue of opportunities has opened up for us" through international trade pacts, making it a national responsibility to never compromise on quality.

"The quality of our products must not only meet the global standard but also surpass it," he stated, advising industries to "study and research the needs of other countries and the expectations of their people" to create products.

Highlighting specific budgetary provisions, the Prime Minister discussed the Biopharma SHAKTI Mission. He said, "The Biopharma SHAKTI Mission has also been announced in the Budget. The aim of this mission is to make India a global hub for biologics and next-generation therapies. We want to become leaders in advanced biopharma research and manufacturing. Today, the world is looking for trustworthy and resilient manufacturing partners."

He identified the current reshaping of the global supply chain as a critical moment for India to solidify its position.

The Prime Minister also called for a collaborative effort between industry, financial institutions, and state governments to implement ground-level changes. "To bring about ground-level changes, industry, financial institutions, and state governments must work together to make it a reality. I expect all of you to give priority to topics such as how to increase manufacturing and production, how to make the cost structure more competitive, how to accelerate the flow of investment, and how to develop the remotest regions of India. Your suggestions will be extremely important in achieving all of this," Modi said.

- ANI