Time to invest, PM tells private firms

PRIME MINISTER NARENDRA Modi on Sunday said the private sector should focus less on protecting profit margins and invest more in research and development, adopt frontier technologies, supply chains, and quality.

- PRESS TRUST OF INDIA

In an interview with PTI, he said the private sector is critical for the next phase of India's economic transformation and called for a "decisive response" from them.

He added that the next leap to Viksit Bharat will depend on bold investment by businesses in innovation, long-term capacity, and global competitiveness.

"Policy can only create the enabling framework. Incentives and tariff preferences can catalyse growth, but durable competitiveness must rest on innovation, efficiency and scale," Modi said.

Modi also said this year's Union Budget reflects India's desire to become a "developed nation.""Budget is not a 'now or never' moment born out of compulsion but a 'we are ready' moment born out of preparation, inspiration," he said.