Prime Minister Narendra Modi highlighted that India’s decade-long reforms have revealed its core strengths, leading to increased global trust and interest in trade deals with the country. Developed economies are now actively engaging with India on trade pacts, underpinned by domestic capabilities in manufacturing, services, and resilient economic institutions.
Prime Minister Modi addressed a high-profile event in New Delhi, emphasising that India’s strategic focus on building domestic capabilities has transformed its global trade outlook. He noted that countries are now approaching India for comprehensive trade deals, a shift from earlier years when India lacked negotiating leverage.
Key Highlights
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India’s decade of structural reforms and institution-building has strengthened its economic fundamentals and global trade appeal.
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Developed nations are increasingly seeking trade agreements with India, reflecting confidence in India’s market and growth trajectory.
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The government’s strategy has been to cultivate domestic strength and engage with 38 developed economies before concluding major trade agreements, protecting key sectors like MSMEs, farmers, and fishermen.
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India’s manufacturing, services, and MSME sectors now form core bargaining power that enables negotiations from a position of strength.
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Historical barriers to trade pact finalisations have diminished as India’s economic confidence and policy predictability improve global investor trust.
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Significant trade engagements such as the India–European Union Free Trade Agreement — reducing tariffs on over 90% of trade goods — illustrate expanding opportunities for Indian exports and investment partnerships.
Outlook And Implications
With these developments, India is positioned not just as a global manufacturing hub but as a trusted partner for comprehensive trade and economic cooperation. Continued focus on capability building and multilateral engagements may further deepen India’s integration into global value chains, boosting exports and foreign investment in the years ahead.
Sources: Press Trust of India, Newsonair.gov.in, Moneycontrol, Wikipedia.