PM Modi Lauds EU and US Trade Agreements as Milestones for Global Confidence
Prime Minister Narendra Modi on Thursday expressed strong optimism regarding India's recently signed trade deals with the European Union and the United States. Speaking in the Rajya Sabha during the debate on the motion of thanks on the President's address, Modi asserted that these pacts significantly bolster global "stability and pace of progress." He emphasized that the international community now views India as a trusted and reliable trading partner, marking a pivotal shift in economic diplomacy.
Trade Deals Seen as Catalysts for Youth Empowerment and Economic Growth
Modi highlighted that the trade agreement with the EU has already instilled greater confidence in worldwide stability. Following the pact with the US, he noted, there is enhanced assurance not only in stability but also in the acceleration of developmental progress. "It is a good sign for the world," Modi declared, adding that the primary beneficiaries of these agreements will undoubtedly be the youth of India. He pointed out that India's large and dynamic youth population represents a valuable "youth talent pool" equipped with dreams, determination, and the capability to achieve them, positioning the country uniquely amid global demographic shifts where many developed nations face aging populations.
Criticism of Congress and Past Governance Failures
In a pointed critique, Modi slammed the Congress party for its inability to secure similar trade pacts during its tenure in government. He questioned why Congress-led administrations failed to ink such agreements, suggesting that the party will eventually have to account for its actions that allegedly eroded international trust in India's capacity to deliver. Modi accused Congress of being overly focused on "vote bank politics" while neglecting economic priorities, stating, "Neither did they have a vision or will. That is the reason that the country had to suffer so much."
During his 97-minute speech, which commenced amid opposition sloganeering, Modi detailed how a substantial portion of his energy has been dedicated to rectifying past mistakes made by Congress governments. He stressed the importance of rebuilding global confidence in India's economic and strategic capabilities.
Focus on Future-Ready Investments and Strategic Sectors
Modi underscored significant investments in emerging and critical sectors that form the backbone of India's growth strategy. He specifically mentioned advancements in artificial intelligence, quantum computing, critical minerals, space technology, and deep-sea exploration. The Prime Minister called for a renewed push towards quality manufacturing, innovation, and research to drive sustainable development.
"I can see very clearly that the second quarter of the 21st century is going to be critical for India's progress at a rapid pace towards achieving the goal of 'Viksit Bharat'. Therefore, we have to only keep moving forward and not look back," Modi asserted, outlining a forward-looking vision for the nation.
Opposition Protest and Parliamentary Dynamics
The Prime Minister's address was initially met with protests from opposition members, who alleged that Leader of the Opposition in the Rajya Sabha, Mallikarjun Kharge, was denied permission to speak by Chairman C P Radhakrishnan. Despite the disruptions, Modi continued his speech undeterred, at one point pausing to take a dig at Kharge, suggesting he could continue raising slogans while seated. The opposition eventually staged a walkout from the House.
Expanding Global Trade Footprint
Modi revealed that India is actively engaging in future-ready trade deals with multiple nations. In recent days, the country has signed trade agreements with nine major countries, including what he described as the "mother of all deals" with the 27-nation European Union bloc. While the treaty with the US has yet to be formally signed, Modi's remarks are seen as an indication that differences between the two sides have been resolved, with a formal announcement expected next week.
These developments reflect India's assertive stance on the global economic stage, aiming to leverage its demographic dividend and technological prowess to forge partnerships that promise mutual growth and stability.
