Budget Session Day 1: PM Modi Highlights EU FTA As Boost For Youth & Manufacturers

Economic Survey: As Parliament convened for the Budget Session, Prime Minister Narendra Modi used his address to underline what he called a “very positive” start to the new quarter, linking India’s recent Free Trade Agreement with the European Union to larger economic aspirations for the country, its youth, and its manufacturing sector.

Speaking to the media ahead of proceedings, the Prime Minister highlighted the significance of the trade pact and urged Indian manufacturers to take advantage of fresh access to European markets. The agreement, he indicated, opens doors for Indian goods across 27 EU member countries at a time when India’s global economic positioning is under close watch.

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PM Links EU Trade Pact To India’s Aspirations

PM Modi said, "This quarter has begun on a very positive note. A self-confident India has become a ray of hope for the world today. It has also become a centre of attraction. At the beginning of this quarter, India and the European Union signed a Free Trade Agreement."

#WATCH | Budget session | PM Narendra Modi says, "It is natural for the attention of the country to be towards the Budget. But the identity of this Government has been reform, perform and transform. Now, we have swiftly taken off on 'Reform Express'. I express gratitude to all… pic.twitter.com/p9JpR7teTf

— ANI (@ANI) January 29, 2026

He described the pact as aligned with India’s long-term goals and the ambitions of its younger population. Emphasising the opportunity for the domestic industry, he called on manufacturers to raise their competitiveness and supply quality products suited for international markets.

PM Modi said, "This Free Trade for Ambitious India, Free Trade for Aspirational Youth, Free Trade for Aatmanirbhar India. I am confident that, especially the manufacturers of India, will use this opportunity to enhance their capabilities..."

President’s Address Sets Tone For Session

Referring to President Droupadi Murmu’s address to the joint sitting of both Houses a day earlier, the Prime Minister said it reflected the confidence and expectations of the people.

He said, "The President's Address yesterday was the expression of the trust of 140 crore Indians, an account of their capability and of the sketch of their aspirations, especially of the youth. For all MPs, the President also said several things to guide them. At the beginning of the session and 2026, the expectations expressed by the President - I am confident that all MPs took this seriously..."

The remarks come as lawmakers prepare for detailed debates and legislative business during the session, which traditionally includes discussions on the government’s economic roadmap.

Economic Survey In Focus Ahead Of Budget

Beyond the political messaging, attention is now turning to the Economic Survey, scheduled to be presented on January 29. Prepared under the supervision of the Chief Economic Adviser, the Survey offers a detailed review of economic performance during the financial year and outlines the outlook for the coming year.

Unlike the Union Budget, which lays out taxation and spending measures, the Survey provides the analytical assessment of growth, inflation, employment, trade, and public finances that shapes expectations around fiscal policy.

With global economic conditions fluctuating and domestic growth facing both opportunities and challenges, the document is expected to offer critical insight into how the government assesses India’s economic trajectory at this stage.