Prime Minister Narendra Modi announced India’s signing of free trade deals with 40 countries and highlighted recent strides in manufacturing, energy, and technological innovation as the country seeks a more prominent role in the global economy.
India has signed free trade agreements with 40 countries, Prime Minister Narendra Modi said in his Independence Day address from the Red Fort, presenting the deals as evidence that the country is gaining greater weight in the global economy. He said international markets were increasingly recognising India’s capabilities, and linked that external momentum to the government’s wider push for self-reliance and industrial growth.
The speech placed trade policy alongside a broader industrial story. Over the past 12 years, Modi said, India has seen sharp increases in defence production, khadi and village industry output, electronics manufacturing, railway coach production and mobile phone manufacturing. He also pointed to progress in digital technology and innovation as part of what he described as a stronger economic base.
Modi argued that domestic capability is now central to India’s global ambitions, particularly in areas such as semiconductors and energy. He said three semiconductor plants have already begun operating and will produce for export, while several more are expected to come online over the next seven to eight years. That comes as the manufacturing sector continues to expand: Moneycontrol reported that India’s manufacturing PMI stood at 54.2 in June 2026, indicating continued expansion, while IBEF said capacity utilisation in the sector rose to 75.6% in the third quarter of fiscal 2025-26. Macrotrends also estimated that India’s manufacturing output reached $532.92 billion in 2025.
Energy security was another theme of the address. Modi said India had kept fuel, gas and fertiliser supplies steady during the West Asia crisis, which he framed as a test of the country’s resilience. He also said India has set a target of 200 GW of nuclear energy and is building five new reactors, while highlighting progress in fast breeder nuclear technology, piped gas access and solar coverage for households. The overall message was that India’s next stage of growth will depend on deeper industrial capacity, stronger energy systems and a larger role in global trade.
Disclaimer: This content is intended for informational purposes only. Readers are advised to exercise their own judgement, conduct due diligence, or consult a qualified expert before acting on any information provided.
