'Invest More In R&D To Drive Viksit Bharat’s Next Leap': PM Modi To Private Sector

Last Updated:February 15, 2026, 18:46 IST

In an interview to PTI, the Prime Minister said that Budget 2026 reflects India’s yearning to become a “developed nation”.

Prime Minister Narendra Modi said the private sector must focus less on protecting profit margins and invest more aggressively in R&D, supply chains and quality.

He said that private sector is critical for next phase of economic transformation, requesting ‘decisive response’ from them.

In an interview with news agency PTI, the Prime Minister said that Budget 2026 reflects India’s yearning to become a “developed nation".

“Budget not a ‘now or never’ moment born out of compulsion but a ‘we are ready’ moment born out of preparation, inspiration," he said.

He referred to the Free Trade Agreements with 38 countries and said that stronger manufacturing, services and MSMEs allow India to negotiate trade deals from a position of strength.

The Prime Minister also targeted UPA-era “economic mismanagement“ which left India unable to negotiate from a position of confidence. “During UPA rule, talks would begin and then breakdown, a little real substance achieved despite long negotiations," he said.

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