Story perspectives

Modi: Future-Ready Trade Deals to Empower India's Youth

2/7/2026

Summary

Story summary

Prime Minister Narendra Modi stated in the Rajya Sabha that India is pursuing "future-ready" trade agreements, including major deals with the European Union and the United States.
He said these agreements will particularly benefit youth from urban and rural backgrounds.
Modi criticized past administrations for failures and said the government aims to correct historical mistakes and enhance India's global standing, describing the period as pivotal for development.

History

Historical Context

In 1991, India faced a balance-of-payments crisis, prompting Prime Minister P. V. Narasimha Rao and Finance Minister Manmohan Singh to implement economic reforms that dismantled the License Raj and opened markets to foreign direct investment. This shift led to a dramatic increase in trade, with FDI inflows rising from $0.1 billion in 1991 to over $60 billion by 2020, significantly enhancing India's global economic integration.

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Story summary

Prime Minister Narendra Modi stated in the Rajya Sabha that India is pursuing "future-ready" trade agreements, including major deals with the European Union and the United States.
He said these agreements will particularly benefit youth from urban and rural backgrounds.
Modi criticized past administrations for failures and said the government aims to correct historical mistakes and enhance India's global standing, describing the period as pivotal for development.

1 / 2