PM Modi Defends FTAs, Contrasts NDA's 38 Deals with UPA's 4 Amid Global Summit
Prime Minister Narendra Modi on Friday delivered a robust defense of the recent free trade agreements signed by his government, directly addressing and rejecting criticism from political opponents. Speaking at the ET NOW Global Business Summit, the Prime Minister drew a sharp contrast between the current administration's achievements and the previous United Progressive Alliance regime.
From 'Fragile Five' to Global Competitor
Modi asserted that during the UPA dispensation, India was plagued by widespread scams and policy paralysis, which severely limited its international standing. He emphasized that the country was then counted among the 'Fragile Five' economies, a term used to describe emerging markets with weak fundamentals. "Who would have confidence in India when policy paralysis and scams marked its governance," Modi stated in a clear swipe at the previous government.
The Prime Minister highlighted that this environment made it difficult to secure international partnerships, with only four countries willing to sign free trade agreements with India during that period. In contrast, he proudly announced that his government has successfully concluded FTAs covering 38 countries, showcasing a dramatic turnaround in global confidence.
Transformation Through New Policies and Capabilities
To underscore the changes since 2014, Modi detailed how new policies and enhanced capabilities implemented by his administration have driven a comprehensive transformation. "India today is full of self-confidence. It is ready to compete with the world and has built a strong manufacturing ecosystem," he declared, emphasizing the nation's renewed economic vigor.
The celebration of these FTAs at the summit appeared to mark a firm rejection of criticism from the Congress party and other political opponents. Modi expressed confidence that charges against specific trade deals, including those with the United States, would not gain traction given India's current robust position.
Vision for a New Global Order
Looking beyond immediate economic metrics, the Prime Minister shared a broader geopolitical vision. He noted that the post-Second World War global order is now crumbling, paving the way for a new international framework. In this context, Modi positioned India as a pivotal player in the coming century of change.
"India is going to be a big basis of global transformation in this century of change," he asserted, signaling the country's ambition to shape emerging global dynamics. This statement reinforces the government's narrative of India rising as a key economic and strategic power on the world stage.
The address at the ET NOW Global Business Summit served as both a defense of current trade policies and a bold statement of India's evolving global role, contrasting past vulnerabilities with present strengths and future aspirations.
