New Delhi [India], March 4 : Prime Minister Narendra Modi said that MSMEs play a transformative role in the economic growth of India. Government is committed to nurturing and strengthening this sector, during his virtual address at the Post Budget Webinar 2025 on Tuesday.
To further streamline regulations, the Prime Minister announced the formation of a committee to review regulations in the non-financial sector. "A decision has also been taken to constitute a committee to review regulations in the non-financial sector. We aim to make them modern, flexible, and people-friendly. The industry will play a crucial role in this exercise."
He stated, "Today, the country has been witnessing an unprecedented consistency in government policies for over a decade. Over the past 10 years, India has demonstrated its commitment to continuous reforms, financial discipline, transparency, and inclusive growth.'
He added, "The assurance of consistency and reforms has brought a new sense of confidence within our industry. I assure every stakeholder associated with manufacturing and exports that this continuity will remain steadfast in the years to come."
He further assured the industry of the government's dedication to ensuring policy continuity, particularly for manufacturing and exports, "The assurance of consistency and reforms has brought a new sense of confidence within our industry. I assure every stakeholder associated with manufacturing and exports that this continuity will remain steadfast in the years to come."
Highlighting India's growing global economic stature, PM Modi remarked, "Today, every country in the world wants to strengthen its economic partnership with India. Our manufacturing sector must step forward to maximize the benefits of this partnership."
Reaffirming the government's efforts toward self-reliance, he said, "We have advanced the vision of Aatmanirbhar Bharat and accelerated the pace of reforms. Our efforts have minimized the economic impact of COVID-19, helping India emerge as one of the fastest-growing economies."
Speaking on the success of the Production Linked Incentive (PLI) scheme, PM Modi highlighted its impact across 14 sectors.
He said, "Today, 14 sectors are benefiting from our PLI scheme. Under this scheme, more than 750 units have been approved, attracting an investment of over Rs1.5 lakh crore, resulting in production worth over Rs13 lakh crore and exports exceeding Rs5 lakh crore. This demonstrates that if our entrepreneurs are given opportunities, they can excel in every new sector."
PM Modi reaffirmed India's position as a key driver of global growth. "Today, the world sees India as a growth centre," he said, urging industries to seize emerging opportunities and drive economic expansion.
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