Prime Minister Narendra Modi has urged industry leaders to significantly ramp up investments and prioritise research and development (R&D) to accelerate India’s manufacturing expansion and strengthen global competitiveness.
Addressing business representatives at a high-level interaction, Modi stressed that sustained capital expenditure, technological innovation and value addition are critical to positioning India as a leading manufacturing hub. He called on corporates to move beyond incremental growth and invest in advanced technologies, automation and product innovation.
The Prime Minister highlighted that global supply chains are undergoing a structural shift, creating fresh opportunities for India to scale up production across sectors such as electronics, pharmaceuticals, renewable energy equipment and defence manufacturing. He emphasised that higher R&D spending would enable Indian firms to climb the value chain and reduce import dependence in key segments.
Modi also encouraged greater collaboration between industry and academia to foster innovation ecosystems and develop skilled talent aligned with emerging industrial needs. He noted that policy initiatives aimed at improving ease of doing business, infrastructure development and logistics efficiency are designed to support long-term manufacturing growth.
Industry leaders reportedly discussed the need for stable policy frameworks, faster regulatory clearances and enhanced export support to fully leverage global market opportunities.
The Prime Minister reiterated the government’s commitment to working closely with the private sector to achieve ambitious manufacturing and export targets, underscoring that innovation-driven growth will be central to India’s economic trajectory in the coming decade.