Prime Minister Narendra Modi on Friday called on industry to step up investment and innovation, while urging financial institutions to provide practical solutions and strengthen market confidence to help realise the goal of a developed India. 

Addressing a post-Budget webinar on ‘Technology, Reforms and Finance for Viksit Bharat’, Modi said that when the government, industry and knowledge partners work together, “reforms translate into results” and “announcements on paper turn into achievements on the ground”. 

Highlighting the government’s infrastructure push over the past decade, he said public capital expenditure has risen sharply, from about ₹2 lakh crore 11 years ago to over ₹12 lakh crore in the Union Budget 2026–27. He said the high allocation sends a strong signal to the private sector to come forward with renewed vigour and leverage the opportunities created under the latest Budget. 

“India Inc should come forward with fresh investment and innovation. Financial institutions should help design practical solutions and improve market confidence,” the Prime Minister said. 

India’s resilience over the past decade was not accidental: PM

The Prime Minister noted that India’s resilience over the past decade was not accidental but the result of conviction-driven reforms. He added that the government has consistently simplified processes and made it easier to do business in the country. 

Proposing closer collaboration among stakeholders, he suggested the creation of a clear “Reform Partnership Charter” involving the government, industry, financial institutions and academia. Such a charter, he said, would become an important document in achieving the goal of Viksit Bharat by 2047. 

Budget should not be viewed as a short-term trading document: Modi

Highlighting the broader vision behind fiscal policy, the Prime Minister said the national Budget should not be viewed as a short-term trading document. “It is a policy road map,” he said, adding that its effectiveness must be assessed on solid and substantive parameters rather than short-term metrics. 

Meanwhile, India and Israel have hinted renewed urgency in concluding their long-pending Free Trade Agreement (FTA), following wide-ranging talks between Prime Minister Narendra Modi and his Israeli counterpart Benjamin Netanyahu in Jerusalem aimed at strengthening strategic and economic cooperation. 

Modi said India would soon give final shape to a “mutually beneficial” trade pact with Israel, saying that expanding economic engagement will be central to the next phase of bilateral ties.