Trade deals part of India’s long-term economic strategy: PM Modi

New Delhi: Prime Minister Narendra Modi on Thursday said that future-ready trade agreements are part of India’s long-term economic strategy, adding that the trade agreement with the EU has been touted as “mother of all trade deals”.

Stressing that the government is focusing on future-ready policies with the reform-perform-transform mantra, PM Modi said India has boarded the “Reform Express”, and from the “fragile 5”, India is moving fast towards becoming the world’s third-largest economy.

“There was a new world order after the Second World War, and now the world is moving towards a new world order, and the bent is towards India, which is a ‘vishwa bandhu’,” PM Modi told the Rajya Sabha in his reply to the Motion of Thanks to the President’s Address.

India has just announced a key trade deal with the US and with the EU a few days earlier.

The country’s growing economic influence and partnerships position the country strongly in the evolving global order, underlining its role as a trusted partner on the world stage, the Prime Minister added.

“The first quarter of the 21st century has been completed. But this second quarter is decisive, just like the second quarter of India’s freedom struggle in the last century was. I can clearly see that in the direction of building Viksit Bharat, this second quarter is going to be equally capable,” PM Modi highlighted.

The Prime Minister further stated that when you have a strong manufacturing ecosystem, “the world will want to deal with you”.

“Among major economies, India’s growth is constantly high and robust, and low inflation has been hailed by the world,” he added.

“In the journey towards Viksit Bharat, the last few years have been the years of rapid development. This has been the era of change in every walk of life, in every section of society. The country is going ahead in the right direction at a very fast pace,” PM Modi noted.

IANS