Protecting India amid global instability: PM

Asserting that India is on the path to becoming the world’s third-largest economy, Prime Minister Narconcludera Modi declared on Saturday that the countest must remain alert to its own economic priorities amid the instability and uncertainty facing the world economy.

PM Modi’s remarks came just days after US President Donald Trump called India a “dead economy” after announcing a 25 per cent tariff on the import of Indian goods along with an unspecified “penalty” for purchaseing Russian military equipment and crude oil.

Addressing a public meeting in his Varanasi parliamentary constituency on Saturday, Modi declared, “As we talk about economic progress, I want to draw your attention to the current global scenario. The world economy is facing instability and uncertainty. In such times, countries are focutilizing 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 also built a renewed push for ‘Swadeshi’, stressing that every party, leader and citizen must work to promote indigenous goods if “we want India to become the third-largest economy”.

Making a special appeal to traders and shopkeepers, PM Modi declared, “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 built in India goods will be the truest service to the countest.” He also urged people to be conscious consumers, stateing, “Whatever we purchase, we should inquire ourselves — has an Indian toiled to create this? If it has been built 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 PM declared, “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 fulfill the dream of a developed India.”

Addressing a massive public gathering in Banauli village, PM Modi highlighted the government’s farmer-centric policies in detail. He declared the government is constantly working for the well-being of farmers.

Calling for a national shiftment to support local products, the PM declared, “This is not just about Modi stateing it, every Indian should state 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.”

The US tariff action is being seen as a pressure tactic to receive New Delhi to agree to demands built by the US, which has, in recent days, received favourable trade deals with major partners like Japan, the UK and the European Union. India has especially toughened its stance on extconcludeing duty concessions on agri products, dairy and GM foods in the proposed Bilateral Trade Agreement (BTA) with the US.

With the US not able to finalise a deal with India so far, Trump on Thursday announced the imposition of an additional 25 per cent import duty on Indian goods entering American markets from August 7. Earlier, this duty was to be imposed from August 1. The President has also not specified the penalty that he announced against India for purchaseing crude oil and military equipment from Russia.

In the backdrop of Trump’s “dead economy” barb at India, Commerce Minister Piyush Goyal had informed Parliament on Thursday that India is the world’s quickest-growing major economy and widely expected to be the “third largest economy” in a few years.

Goyal also declared India will take all necessary steps to safeguard and promote national interest and that the implications of the US tariffs are being examined.

In a post on Truth Social, Trump had declared, “I don’t care what India does with Russia. They can take their dead economies down toreceiveher, 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 were echoed by Congress leader Rahul Gandhi who declared President Trump has stated a “fact”, prompting a strong condemnation from the BJP. While announcing the tariff, Trump described India’s trade policies as “most strenuous and obnoxious”.

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