PM Modi at post-Budget webinar on MSME: Industry should take big steps in manufacturing, take advantage of opportunities available

Prime Minister Narendra Modi addresses post-Budget webinar on MSME sector.
| Photo Credit: PTI

Prime Minister Narendra Modi on Tuesday (March 4, 2025) asked the industry not to be a “mere spectator” and take advantage of the opportunities available in the global supply chain.

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Highlighting India’s role as a growth engine for the global economy, Mr. Modi urged industries to innovate and integrate into global supply chains.

“Today India provides stable policies and a better business environment. I urge you to take big steps to advance the country’s manufacturing and exports,” he said at a Post-Budget webinar on Regulatory, Investment and Ease of Doing Business Reforms.

Mr. Modi said industry should look for manufacturing innovative products using R&D which has demand overseas, and this will push exports.

“Today the world needs a trusted partner… Industry should not be a mere spectator, should seek opportunity in the global supply chain: Modi said, adding today India has become a growth engine for the global economy… The country has proved its resilience during hard times also.

Mr. Modi stressed the need to develop new modes of credit delivery for MSMEs to ensure they receive low-cost, timely credit. He pointed out that the Production-Linked Incentive (PLI) scheme across 14 sectors has led to investments of over ₹1.5 lakh crore and production worth ₹13 lakh crore.

Reiterating the government’s commitment to improving the ease of doing business, the Prime Minister said over 40,000 compliances at the Centre and state levels have been scrapped, making it easier for businesses to operate. He also noted that states play a crucial role in attracting investments, with investors preferring states that implement progressive policies.

Calling the Union Budget a game-changer, Mr. Modi said it had exceeded people’s expectations and laid a strong foundation for economic growth. He encouraged the industry to focus on research and development to manufacture innovative products with high demand overseas, ultimately boosting exports and strengthening India’s position in the global market.

(With PTI inputs)