PM Modi urges industry to boost investment, prioritise research for stronger manufacturing

Prime Minister Narendra Modi on Tuesday urged industry leaders to step up investments, embrace emerging technologies, and prioritise research to leverage the vast opportunities offered by free trade agreements with various nations. He said the world is now looking for reliable and resilient manufacturing partners, and India has the opportunity to play this role decisively and enhance the country’s participation in the global supply chain. "All stakeholders must invest with confidence, adopt new technologies, and significantly increase investment in research — those days of being frugal in research are over. We must ensure quality in line with global standards. As I often say, when opportunities arise to move ahead, we must have only one mantra — Quality, Quality, Quality." Stressing that India has entered into free trade agreements with numerous countries, he said, these agreements have opened up a wide range of opportunities for the country. "In such a situation, our responsibility is that we should never compromise on quality. If there is one area where we must apply maximum strength, intelligence, and focus, it is quality. Our products must meet global standards," he said. Ongoing West Asia conflict to discourage investment into India, offset trade deal positives: BMI "For this," he said, "We need to study the needs and expectations of other countries and conduct thorough research. We must understand the preferences and comfort of consumers in those markets. In today’s competitive world, quality is what gives us a golden opportunity. We must create user-friendly products tailored to their needs." "Only then can India truly benefit from the opportunities opened by various free trade agreements, which have created a highway of growth for you," he said.

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