PM Modi Highlights India's Strategic Trade Negotiations and Budget 2026
Prime Minister Narendra Modi, in a recent address, asserted that India is now negotiating trade agreements from a position of strength, a stark contrast to the approach during the United Progressive Alliance (UPA) government's tenure. He lauded the 2026 budget for reinforcing this economic prowess, marking a significant shift in the nation's global trade stance.
Critique of UPA Era Trade Policies
PM Modi criticized the previous UPA administration, led by the Congress party, for what he described as weak and compromising trade negotiations. He argued that under the UPA, India often entered into pacts that did not sufficiently protect national interests, leading to unfavorable terms in international agreements. This, he claimed, undermined India's economic sovereignty and growth potential during that period.
Strengthened Position Under Current Government
In contrast, Modi emphasized that his government has prioritized a robust and strategic approach to trade deals. He highlighted that India now engages in negotiations with a focus on mutual benefit and protection of domestic industries, ensuring that agreements align with the country's economic goals. This shift, according to the Prime Minister, has been instrumental in enhancing India's global trade footprint and attracting foreign investment.
Key achievements cited include:
- Successful renegotiation of existing trade pacts to better serve Indian interests.
- New agreements with major economies that prioritize sectors like technology and manufacturing.
- Increased emphasis on digital trade and intellectual property rights in negotiations.
Praise for Budget 2026
PM Modi specifically commended the 2026 budget, presented by Finance Minister Nirmala Sitharaman, for its role in bolstering India's economic resilience. He noted that the budget's provisions, such as increased allocations for infrastructure and export promotion, directly support the government's trade strategy. The Prime Minister stated that these measures ensure India remains competitive on the global stage, enabling stronger negotiation positions in future trade talks.
The budget has been widely praised for its focus on sustainable growth and innovation, which Modi linked to enhanced trade capabilities.
Implications for India's Economic Future
This address underscores the government's commitment to positioning India as a key player in global trade. By leveraging economic strength, Modi aims to secure more favorable terms in international agreements, potentially boosting exports and creating jobs. The critique of the UPA serves to highlight the perceived improvements under his administration, framing the current policies as a necessary correction to past weaknesses.
As India continues to navigate complex global trade dynamics, the Prime Minister's remarks signal a continued emphasis on assertive and strategic economic diplomacy, with the 2026 budget acting as a foundational pillar for this approach.
