Prime Minister Narendra Modi on Sunday (Feb 15) said that Union Budget 2026 reflects India’s “yearning to become a developed nation” and described the Budget as not a “now or never” moment born out of compulsion but a “we are ready moment” born out of preparation and inspiration.
In an interview with PTI, the Prime Minister addressed the recent trade deal, stating that “political stability, political predictability restored investor confidence in India.” He added that “Stronger manufacturing, services, MSMEs enable India to negotiate trade pacts from a position of strength.”
Responding to opposition criticism of India’s trade agreement with the United States, Prime Minister Modi asserted that “Our FTAs are designed to expand market access for MSMEs in textile, leather, chemicals, handicrafts, gems and other sectors.”
Addressing the defence sector and the increased spending allocation in the recent Budget, Modi said, “The government has a duty to modernise the defence sector in line with current realities.”
Despite the government’s sustained emphasis on self-reliance in defence manufacturing, India has recently decided to purchase 114 Rafale jets from France. Modi added that the government would do whatever it takes to support and strengthen the country’s armed forces.
Criticising the opposition, PM Modi slammed “UPA-era mismanagement” that left India unable to negotiate from a position of strength, adding that “During UPA rule, talks would begin and then break down; a little real substance was achieved despite long negotiations.”
He declared that the government is committed to reforms and it has displayed it in letter and spirit.
PM hailed the private sector as “critical for the next phase of economic transformation” and called for “decisive response” from them. He said the private sector must focus less on protecting margins and “invest aggressively in R&D supply chain,” emphasising that the next leap of Vikist Bharat will depend on “bold investment by the private sector, innovation, long-term capacity, and global competitiveness.”