Prime Minister Narendra Modi
| Photo Credit: ANI
Prime Minister Narendra Modi on Tuesday (March 4, 2025) outlined key measures to boost entrepreneurship and manufacturing in India, emphasizing the need for industries to seize global opportunities and drive exports. Speaking at a post-Budget webinar on the MSME sector, he announced that five lakh first-time entrepreneurs, including women and those from SC-ST communities, will be eligible for loans of up to ₹2 crore.
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Highlighting India’s role as a growth engine for the global economy, Mr. Modi urged industries to innovate and integrate into global supply chains. “The world needs a trusted partner that can produce high-quality products, and Indian businesses should capitalize on this,” he said. He also emphasized that industries must move beyond being spectators and actively seek opportunities in global trade.
Mr. Modi stressed the need to develop new modes of credit delivery for MSMEs to ensure they receive low-cost, timely credit. He pointed out that the Production-Linked Incentive (PLI) scheme across 14 sectors has led to investments of over ₹1.5 lakh crore and production worth ₹13 lakh crore.
Reiterating the government’s commitment to improving the ease of doing business, the Prime Minister said over 40,000 compliances at the Centre and state levels have been scrapped, making it easier for businesses to operate. He also noted that states play a crucial role in attracting investments, with investors preferring states that implement progressive policies.
Calling the Union Budget a game-changer, Mr. Modi said it had exceeded people’s expectations and laid a strong foundation for economic growth. He encouraged the industry to focus on research and development to manufacture innovative products with high demand overseas, ultimately boosting exports and strengthening India’s position in the global market.
Published – March 04, 2025 01:17 pm IST
