Modi Urges Private Sector to Drive Next Growth Phase

Prime Minister Modi calls for increased private sector investment to drive innovation-led, globally-competitive growth, emphasizing the importance of research and development, and infrastructure expansion. He highlights the government's focus on capital expenditure and infrastructure, urging private companies to match these efforts for sustained economic success.

Prime Minister Narendra Modi has called on India's private sector to step up its investment activities and play a pivotal role in the nation's next phase of innovation-driven, globally-competitive growth.

In an interview with PTI, Modi highlighted the government's significant infrastructure investments as a strong foundation for future development. The recent budget raises capital expenditure significantly, focusing on infrastructure development, including rail, road, digital, and energy sectors.

However, Modi emphasized that achieving the desired economic growth requires the private sector to aggressively invest in research, adopt new technologies, and enhance supply-chain efficiency. He underscored that sustained productivity growth must be shared fairly among stakeholders to ensure socially legitimate growth.

(With inputs from agencies.)