President Droupadi Murmu
Credit: PTI Photo
New Delhi: Emphasising that the government is moving ahead on the path of “Reforms Express”, President Droupadi Murmu on Wednesday hailed the conclusion of the Free Trade Agreement (FTA) with the European Union (EU), saying it will give impetus to manufacturing and service sectors besides creating new job opportunities for the youth.
In her address to the joint sitting of Lok Sabha and Rajya Sabha on the first day of Budget Session, she said the economic foundation of the country has grown significantly stronger in the past 11 years and despite various global crises, India has remained the “fastest growing major economy” in the world.
“India has further improved its record in keeping inflation under control. It is directly benefiting the poor and middle-class families of the country. As a result of the policies of my government, the income of citizens has increased, their savings have grown, and their purchasing power has also improved,” she said.
“I congratulate all citizens on the conclusion of negotiations for a free trade agreement with the European Union. It will give impetus to the manufacturing and service sectors in India and also create new employment opportunities for the youth of India,” Murmu said.
She said India is playing the role of a “bridge” in the world, amid the “complex global circumstances prevailing” at present. “Even nations engaged in conflict, express their trust in India on important issues. It is a matter of satisfaction that India has consistently given priority to balance, impartiality, and humanitarian considerations. At the same time, it has remained steadfast in its resolve of ‘India First’,” she said.
She said the manufacturing sector has shown record growth and in a field like that of mobile manufacturing, India has now become the second-largest country in the world. “In the first five months of 2025–26, India’s smartphone export has crossed 1 lakh crore rupees. This year, India has started exporting electric vehicles to more than 100 countries,” she said.
The President said almost the entire rural population is connected by roads with the country adding around 18,000 km of roads in rural areas while Indian railways is “rapidly moving” towards 100% electrification. She also said the metro network has crossed 1,000 km and is now the third-largest in the world.
She said the government is moving forward on the path of ‘Reforms Express’ with old rules and provisions being updated continuously according to future needs. She also said the historic next-generation reform in GST has ensured savings of Rs one lakh crore for citizens.
“Following the reduction in GST, in 2025, registrations of two-wheelers have crossed the mark of two crore, which is a new record in itself,” she said.
She said the investments are increasing in the rapidly growing digital economy, Artificial Intelligence, and data centres. "This new form of economy also has greater energy requirements. Nuclear energy has a major role to play in this direction. The recently enacted SHANTI Act will help achieve the target of 100 gigawatts of nuclear energy by 2047," Murmu said.
The government’s intent is also to reduce imports of agricultural products, she said, adding through the National Missions on Edible Oils, Oilseeds, and Pulses, the nation is moving towards self-reliance in these sectors. As a result of this, she said in 2024–25, the production of oilseed crops has also increased.