Prime Minister Narendra Modi stated on Saturday that the new interim trade agreement with the United States exemplifies the increasing trust that the international community is placing in India. Speaking at a gathering of Indian diaspora in Kuala Lumpur, Modi articulated that recent trade agreements mark a significant shift in India’s global economic standing, transforming the country from merely a large market to a center for investment and trade.

During his address to an audience estimated at around 10,000 people, he remarked, “Whether it is the UK, UAE, Australia, New Zealand, Oman, EU, or US, countries are entering into trade agreements with India. Trust has become India’s strongest currency.”

India’s Transition to a Trusted Investment Hub

The Prime Minister emphasized that India has evolved from being viewed solely as a consumer market to being recognized as a reliable partner in growth for various nations. He elaborated on how the framework of the recently proposed trade agreement signifies the depth and dynamism of India-US relations. Modi expressed gratitude towards the US administration for its commitment to enhancing bilateral ties, specifically acknowledging President Trump’s role in fostering a robust partnership between the two nations.

He articulated that this agreement is pivotal for ‘Make in India’, opening new avenues for multiple sectors including agriculture, entrepreneurship, micro, small, and medium enterprises (MSMEs), startups, and fisheries. Furthermore, Modi highlighted the potential for large-scale job creation, particularly for women and young professionals.

Strengthening Innovation and Supply Chains

In his address, the Prime Minister also underscored the shared commitment between India and the US to promote innovation. He noted that the new framework aims to deepen investment and technology partnerships, which will strengthen resilient and trusted supply chains and contribute to broader global economic growth.

“As India makes strides towards realizing a ‘Viksit Bharat’, we remain dedicated to establishing forward-looking global partnerships that empower our citizens and contribute to collective prosperity,” he stated.

Political Reactions and Implications for Parliament

Modi’s optimistic outlook on the recent trade deals, particularly the significant agreements with the EU and the US, has created a positive atmosphere within the ruling coalition. The Prime Minister celebrated these developments in both a closed meeting with MPs from the governing alliance and his speech in Parliament, viewing them as affirmations of India’s rising economic stature on the world stage.

However, as Parliament reconvenes on Monday, the opposition parties, including Congress, are expected to raise concerns regarding the trade agreement with the US. They have accused the government of compromising India’s interests in these negotiations.

Long or Short, get news the way you like. No ads. No redirections. Download Newspin and Stay Alert, The CSR Journal Mobile app, for fast, crisp, clean updates!