PM Modi’s remarks got here simply days after U.S. President #Donald Trump known as #India a “dead economy” after asserting a 25% tariff on the import of #Indian items together with an unspecified “penalty” for getting Russian army tools and crude oil.
Addressing a public assembly in his parliamentary constituency #Varanasi on Saturday (August 2, 2025), Mr. Modi mentioned, “As we speak about financial progress, I need to draw your consideration to the present world situation.
“The world economy is facing instability and uncertainty. In such times, countries are focusing solely on their own interests. #India, too, is on the path to becoming the world’s third-largest economy and must remain alert to its own economic priorities.”
The prime minister additionally made a renewed push for ‘Swadeshi’, stressing that each occasion, chief and citizen should work to advertise indigenous items if “we want #India to become the third-largest economy”.
‘Sell solely Swadeshi items’
Making a particular attraction to merchants and shopkeepers, the prime minister mentioned, “At a time when the world is going through uncertainty, let us take a pledge to sell only Swadeshi goods from our shops and markets. Promoting made in #India goods will be the truest service to the country.”
He additionally urged folks to be aware shoppers, saying, “Whatever we buy, we should ask ourselves — has an #Indian toiled to make this? If it has been made by the sweat of our people, with their skills, that product is Swadeshi for us. We must adopt the mantra of ‘Vocal for Local’.”
“The feeling of Swadeshi in every action will define our future. This will also be a true tribute to #Mahatma Gandhi. Only through collective effort can we fulfil the dream of a developed #India,” Mr. Modi mentioned.
The prime minister, who was addressing an enormous public gathering on Saturday in #Banauli village, highlighted the federal government’s farmer-centric insurance policies intimately.
He mentioned the federal government is continually working for the well-being of farmers.
Calling for a nationwide motion to help native merchandise, the prime minister mentioned, “This is not just about Modi saying it, every #Indian should say this — if we want #India to become the third-largest economy, every political party and every leader, keeping aside their hesitations, must work in the nation’s interest and awaken the spirit of Swadeshi among the people.”
Demands made by U.S.
The U.S. tariff motion is being seen as a stress tactic to get New Delhi to conform to calls for made by the U.S., which has, in current days, bought beneficial commerce offers with main companions like Japan, the UK and the European Union.
#India has particularly toughened its stance on extending obligation concessions on agri merchandise, dairy and GM meals within the proposed bilateral commerce settlement (BTA) with the U.S.
With the U.S. not in a position to finalise a cope with #India to date, Mr. Trump on Thursday introduced the imposition of an extra 25% import obligation on #Indian items getting into American markets from August 7.
Earlier, this obligation was to be imposed from August 1. The President has additionally not specified the penalty that he introduced in opposition to #India for getting crude oil and army tools from Russia.
‘Fastest rising main financial system’
In the backdrop of Mr. Trump’s “dead economy” barb at #India, Commerce Minister Piyush Goyal had instructed Parliament on Thursday that #India is the world’s fastest-growing main financial system and extensively anticipated to be the “third largest economy” in a number of years.
Mr. Goyal additionally mentioned #India will take all obligatory steps to safeguard and promote nationwide curiosity and that the implications of the US tariffs are being examined.
In a put up on Truth Social, Mr. Trump had mentioned, “I do not care what #India does with Russia. They can take their useless economies down collectively, for all I care.
“We have done very little business with #India, their #Tariffs are too high, among the highest in the World.”
His remarks have been echoed by Congress chief Rahul Gandhi who mentioned President Trump has said a “fact”, prompting a powerful condemnation from the BJP.
While asserting the tariff, Trump described #India’s commerce insurance policies as “most strenuous and obnoxious”.
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