Inking New Pacts
Earlier govts were scared of signing trade pacts with developed nations, says PM Modi
This story was originally published at 22:16 IST on 13 February 2026
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NEW DELHI – Prime Minister Narendra Modi Friday said that the earlier Indian governments were scared of signing trade deals with developed countries but his government shed off that reluctance and signed multiple free trade agreements. He claimed that the developed world was not interested in dealing with a "fragile five" economy "stuck in policy paralysis".
"India's FTAs are being discussed and analysed across the world. One may ask why the trade deals that we are signing today could not be signed before 2014?" Modi said while speaking at an event hosted by media channel ET Now here.
"The governments that came before us were not confident enough to deal with the developed world. They feared that the developed countries will dump their products in our markets, because India's manufacturing base was weak," Modi said.
He said that the United Progressive Alliance government could work out comprehensive trade agreements with only four countries. On other hand, the trade deals struck by his government cover 38 countries from different regions of the globe. "We can do it because India has developed a strong ecosystem of manufacturing over the past 10 years. Today's India is brimming with confidence and ready to compete with the world," Modi said.
India recently signed a free trade agreement with the European Union and reached a framework of bilateral trade agreement with the US. The latter is being criticised by the Opposition and several independent analysts as being heavily tilted in US' favour and being detrimental to India's economic interests.
Modi said in the past, reforms were undertaken only under compulsion but that "mindset" has changed now, and his government was taking up reforms "as conviction, not compulsion".
He also took a swipe at the opposition leader for being sceptical of his government vision for 2047. He said that the world was going to see revolutionary changes especially thanks to artificial intelligence, but India is ready to take up this challenge. End
Reported by Asim Khan
Edited by Akul Nishant Akhoury
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