Indian companies should increase investment: PM Modi
Delhi: Prime Minister Narendra Modi on Friday urged Indian companies to leverage the central government’s Budget 2026-27 announcements to their advantage and increase investment and innovation.
He also said that the time has come for the private sector to take growth to the next level to meet global competition. Speaking at a post-Budget webinar titled “Technology, Reforms and Finance for a Developed India” on Friday, Prime Minister Modi said:
Public capital expenditure, which was ₹2 lakh crore 11 years ago, has now increased to over ₹12 lakh crore. The increase in public capital expenditure in successive budgets and strong policy action by the central government have laid a strong foundation for economic growth.
The major announcements made in the Budget 2026-27 signal a renewed impetus for private sector investment. Therefore, Indian companies should come forward with new investments and innovations. Financial institutions and analysts should help provide practical solutions and build market confidence. The country’s growth strategy: Infrastructure and innovation require massive financial support. The project approval system should be strengthened, and the quality of assessments should be improved.
The country’s growth strategy has relied on record-breaking capital expenditure over the past 10 years. To attract private investment, spending on highways, railways, ports, airports, telecommunications infrastructure, and energy infrastructure has been significantly increased. However, significant investments from the private sector remain.
Reform Express: The country’s progress over the past 10 years has been driven by promising reforms. Continuous efforts have been made to improve the ease of doing business. Institutions have been strengthened through technology-driven governance. The country is still on the path of reforms. To accelerate this ‘Reform Express,’ attention should be paid not only to policy but also to operational aspects.
Artificial intelligence (AI) technology and data analytics should be used extensively to improve transparency, speed, and accountability.
Prime Minister Modi stated that formal, close collaboration between the government, industry, and intellectual partners is essential to ensure that reforms translate into results and announcements into achievements.
Reform Action Plan: Instructions to MinistersPrime Minister Modi has directed all Union Ministers to prepare an action plan for reforms to be undertaken in the ministries under their responsibility in the coming years, official sources said on Friday.
This instruction has been issued as part of the ‘Express Reforms’ policy to simplify procedures and enhance technological administrative capacity.
The Cabinet Secretariat has sent out specific forms to central ministries to report on their past achievements and future reform plans; in these forms, ministers have reportedly been asked to clearly outline key reform points.
Sources said Prime Minister Modi has directed all central ministries to immediately focus on reform priorities.
