Prime Minister Narendra Modi on Saturday said India has finalised free trade agreements (FTAs) with 40 countries, underscoring the country’s expanding economic reach and increasing participation in global markets.
Addressing the nation from the Red Fort on Independence Day, Modi said the international community was increasingly recognising India’s capabilities and cited the trade agreements as evidence of the country’s growing role in the global economy.
He said India’s abilities were gaining wider recognition and that the country had concluded FTAs with 40 nations.
Modi made the remarks while highlighting India’s economic progress over the past 12 years and its efforts to strengthen domestic capabilities while simultaneously expanding its role in global trade and manufacturing.
INDIA’S EXPANDING GLOBAL PRESENCE
Modi said India had accelerated its progress over the last 12 years, with the country’s growing capabilities visible across manufacturing, technology and international trade.
He pointed to growth in defence production, electronics manufacturing and mobile phone production, as well as advances in digital technology and innovation.
According to Modi, defence production has nearly quadrupled over the past 12 years, while output in the khadi and village industries sector has increased almost fivefold. Electronic manufacturing has expanded nearly seven times, modern railway coach production has risen 21-fold and mobile phone production has grown 33 times.
The Prime Minister said the expansion of domestic manufacturing was helping India establish a stronger position in the global economy.
FROM SELF-RELIANCE TO GLOBAL MARKETS
Modi’s reference to FTAs came as part of his broader emphasis on an Atmanirbhar Bharat, with the government working to strengthen domestic production while increasing India’s participation in international markets.
He also highlighted efforts to develop strategically important sectors, including semiconductors and energy.
According to Modi, three major semiconductor plants have already begun operations, with their output also expected to be exported. He said another five to eight semiconductor facilities could become operational over the next seven to eight years.
He stressed the importance of semiconductor technology in the modern digital economy, noting that chips are essential for electronic products, medical equipment, transportation systems and other sectors.
Modi said India’s semiconductor initiative was an important component of the country’s journey towards self-reliance and would contribute to the broader goal of building a Viksit Bharat.
ENERGY SECURITY REMAINS A PRIORITY
Modi also pointed to India’s ability to maintain energy supplies during the West Asia crisis, saying the situation demonstrated the significance of self-reliance.
He recalled concerns that the crisis could result in shortages of petrol, diesel and LPG, but said government measures ensured uninterrupted supplies of fuel, gas and urea.
According to Modi, India was able to counter attempts to use essential systems as leverage during the crisis because of its growing self-reliance.
He also said India has set a target of generating 200 GW of nuclear energy and is establishing five new nuclear reactors. The country, he added, has crossed a significant milestone in fast breeder nuclear technology, which he described as an important step towards achieving greater self-sufficiency in nuclear fuel.
Piped gas is now available to 1.75 crore households, while more than 50 lakh households are benefiting from solar energy, Modi said.
INDIA’S NEXT STAGE OF DEVELOPMENT
Modi said India could no longer afford to pursue limited ambitions and called for larger goals backed by stronger determination.
He argued that countries are not always held back by a shortage of resources, but can sometimes be constrained by limitations in their thinking.
According to Modi, expanding India’s capabilities in manufacturing, technology, energy and international trade will be essential to achieving the country’s broader economic objectives.
