Budget Session: President Murmu Sets Reform Agenda, Flags Technology Push And Global Trade Shifts

(MENAFN- Live Mint) New Delhi: President Draupadi Murmu on Wednesday set the tone for the budget session of Parliament by stressing reforms, economic resilience and India's positioning in a rapidly changing global trade and geopolitical landscape. In doing so, she effectively presented the government's report card ahead of the Economic Survey.

Addressing the joint sitting of Parliament, President Murmu highlighted India's push on new-age technology, manufacturing and employment generation, pointing to recent free trade agreements, including the India-EU FTA, as key instruments to integrate India more deeply into global value chains and support domestic manufacturing amid rising protectionism worldwide. She said such agreements would give a fresh impetus to India's manufacturing and services sectors and create new employment opportunities for the youth.

India announced the conclusion of talks for the much-awaited free trade agreement with the EU on Tuesday. The FTA is significant as the EU is India's second-largest trading partner, with bilateral trade coming in at $136.54 billion in FY25.

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Against the backdrop of prohibitory tariffs imposed by the US, the President said India's approach to the world reflected its commitment to open trade, resilience and long-term growth. She said that even amid global uncertainty and shifting geopolitical equations, India continues to move forward with confidence, policy stability and structural reforms.

Citing 'Reform Express' as the defining theme of the NDA government's approach, the President said initiatives ranging from local manufacturing to deep technology adoption were reshaping India's growth trajectory. She underlined India's growing role in emerging technologies, referring to the AI Summit being organised by the country and plans to host a global AI impact summit. She also flagged concerns over deepfake technology and called for collective responsibility to address risks to democracy, social harmony and public trust in the digital space.

Maoist influence shrinking

On internal security, the President said India was witnessing a decisive shift in the fight against left-wing extremism, with Maoist influence shrinking from 126 districts to just eight. Of these, only three remain severely affected, and more than 2,000 people associated with Maoist groups have surrendered, she said. This reflected visible change on the ground, including in Bastar, where tribal youth were increasingly engaging in sports and constructive activities such as the Bastar Olympics and livelihood initiatives for former cadres, she added.

The President also said economic reforms and welfare measures had strengthened household finances, noting that GST registrations of two-wheelers had crossed two crore, income up to ₹12 lakh was made tax-free, and initiatives such as Jan Dhan, Mudra and social security schemes had widened access to finance. She highlighted the expansion of direct benefit transfers, with benefits worth over ₹6.75 trillion transferred directly to beneficiaries in the past year alone.

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She also highlighted labour reforms through the consolidation of laws into four labour codes as steps to protect workers' interests while maximising benefits for women and youth and ensuring ease of compliance and fair wages.

On energy transition, the President described nuclear energy as a vital component of India's future power mix, terming the target of 100 GW by 2047 a historic reform, while also highlighting progress in renewables, including over two million rooftop solar installations under the PM Surya Ghar Muft Bijli Yojana and progress on the 500 GW non-fossil fuel capacity goal.“India is pursuing green growth alongside economic expansion,” she said.

Industrial growth under the production-linked incentive (PLI) schemes, semiconductor units coming up in Assam, infrastructure expansion, new opportunities in Arunachal Pradesh and Tripura, and ongoing work on Mission Sudarshan Chakra were also cited as markers of the government's reform agenda. Record growth in electronics manufacturing, defence production crossing ₹1.5 trillion, rising defence exports, and India's push for self-reliance in critical minerals and shipping also figured prominently in her speech.

Bridging the gap

Stressing India's growing global role, the President said that the country has amplified the voice of the Global South on the world stage, positioning itself as a bridge between developed and developing economies amid rising geopolitical and economic fragmentation.

“India has forged new partnerships and reinforced long-standing relationships across regions such as Africa and Latin America, while also strengthening existing ties, and has consistently expanded its presence on key international platforms including BIMSTEC, the G20, BRICS and the SCO to advance development-oriented priorities and the concerns of emerging economies,” she said.

In complex global circumstances, the President said, India was playing the role of a bridge in the international system, noting that even nations engaged in conflict repose trust in India on important issues. Stressing India's balanced and independent foreign policy, she said the country has consistently prioritised impartiality and humanitarian considerations while remaining firmly guided by the principle of 'India First'.

The past decade has been a cornerstone of India's development journey, she said. The government has remained committed to inclusive growth and, as a result, around 250 million citizens have emerged out of poverty over the past 10 years, she added. During this period, 40 million permanent houses have been built for the poor, and beneficiaries were given possession of 3.2 million houses last year alone, she said.

Echoing the President's views, Rahul Mehta, chief mentor, Clothing Manufacturers Association of India, said the India-EU trade deal would be a game-changer for the textile sector, which is currently facing significant stress from US tariffs.“It is now up to the industry to rise to the occasion and meet the EU market's compliance requirements," he said, adding that if Indian factories, products and processes align with buyer expectations, exports could grow by about 25% over the next couple of years.

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