Political stability helped India seal major trade deals: PM Narendra Modi

Prime Minister Narendra Modi

• Political stability has boosted investor confidence in India
• India has signed FTAs with 38 nations to expand market access
• PM Modi criticizes UPA era for weak trade negotiations

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Prime Minister Narendra Modi has said that political stability and predictability have played a key role in restoring investor confidence in India, even as the country signs a series of major trade agreements.

In an interview with news agency PTI on Sunday, Prime Minister Narendra Modi underlined that stable governance has strengthened India’s economic credibility globally.

“Political stability and political predictability have restored investor confidence in India,” PM Modi said, referring to the recent spate of trade deals signed by the country.

Highlighting India’s negotiating position in free trade agreements (FTAs), the prime minister said the country’s growing economic strength has enabled it to approach such pacts from a position of advantage.

“Stronger manufacturing, services, and MSMEs have enabled India to negotiate trade pacts from a position of strength,” he said, noting that India has concluded FTAs with 38 nations.

Prime Minister Narendra Modi said India’s free trade agreements (FTAs) are being structured to widen global market opportunities for key domestic sectors, particularly small businesses.

“Our FTAs are designed to expand market access for MSMEs in textiles, leather, chemicals, handicrafts, gems and other sectors,” PM Modi said.

Prime Minister Narendra Modi also took a dig at the previous UPA government’s handling of the economy, suggesting it had weakened India’s negotiating strength on the global stage.

“The economic mismanagement during the UPA era left India in a position where it could not negotiate with confidence,” PM Modi said.

Prime Minister Narendra Modi criticised the previous UPA government’s track record on trade negotiations, saying that discussions often failed to translate into meaningful outcomes.

“During UPA rule, talks would begin and then breakdown; a little real substance achieved despite long negotiations,” PM Modi said.

Emphasising his government’s policy direction, the Prime Minister added that reform remains central to its economic approach.

“Reform is the commitment of the government, something it has shown in letter and spirit,” PM Modi told PTI.