Economy Survey 2026: Ahead of Budget Session, PM Modi calls India a ‘ray of hope’, highlights EU trade pact, and reform push
ADVERTISEMENT
Prime Minister Narendra Modi on Thursday underscored India’s strong growth momentum, describing the start of the current quarter as “very positive”, and saying a self-confident India has emerged as “a ray of hope for the world today.”
Addressing the media ahead of the Budget Session 2026, Modi said India has become a centre of global attention, pointing to the recently signed Free Trade Agreement (FTA) between India and the European Union (EU) as a key milestone. He said the pact reflects the country’s positive direction and the bright future of Indian youth.
“This quarter has begun on a very positive note. A self-confident India has become a ray of hope for the world today. It has also become a centre of attraction,” the Prime Minister said, adding that the India-EU FTA signals promising opportunities ahead.
Significance of India-EU pact
Highlighting the significance of the agreement, Modi described it as “Free Trade for Ambitious India, for Aspirational Youth, and for Aatmanirbhar India.” He expressed confidence that Indian manufacturers would use the agreement to strengthen their capabilities, calling it a major step towards a confident, competitive and productive economy.
January 2026
Netflix, which has been in India for a decade, has successfully struck a balance between high-class premium content and pricing that attracts a range of customers. Find out how the U.S. streaming giant evolved in India, plus an exclusive interview with CEO Ted Sarandos. Also read about the Best Investments for 2026, and how rising growth and easing inflation will come in handy for finance minister Nirmala Sitharaman as she prepares Budget 2026.
Reform agenda
The Prime Minister said the upcoming Union Budget would reflect the government’s reform agenda, reiterating that the administration’s identity has been defined by “reform, perform and transform.” He thanked Members of Parliament for their contributions in accelerating what he termed the government’s “Reform Express.”
Modi also highlighted that all government decisions remain human-centric, even as India adapts to technological change. “In all our decisions, the progress of the country is our goal. But all our decisions are human-centric,” he said, stressing the need to balance technology with sensitivity and inclusiveness.
Reflecting on the passage of one-fourth of the 21st century, Modi said the next 25 years would be critical to achieving the goal of Viksit Bharat by 2047. He also hailed Finance Minister Nirmala Sitharaman, noting that she would present the first Budget of the second quarter of the century and her ninth consecutive Union Budget, calling it a proud moment in India’s parliamentary history.
Modi said, "The President's Address yesterday was the expression of the trust of 140 crore Indians, an account of their capability and of the sketch of their aspirations, especially of the youth. For all MPs, the President also said several things to guide them. At the beginning of the session and 2026, the expectations expressed by the President - I am confident that all MPs took this seriously."