PM Modi’s Call for Economic Self-Reliance

In response to U.S. President Donald Trump’s recent imposition of a 25% tariff on Indian exports, Prime Minister Narendra Modi has emphasized the importance of ‘swadeshi’ or locally made products. Speaking at a rally in Varanasi, PM Modi highlighted the current global economic uncertainties and urged Indian citizens to prioritize domestic goods. He stressed that India’s path to becoming the world’s third-largest economy hinges on safeguarding its economic interests and supporting local industries.

The Global Economic Context

PM Modi noted the volatility in the world economy, which is prompting nations to focus on their own interests. He underscored that India must remain vigilant about its economic priorities, particularly concerning its farmers, industries, and employment opportunities for young people. The Prime Minister assured that the government is actively working to protect these interests.

Citizen Responsibility and ‘Vocal for Local’

Emphasizing citizen responsibility, PM Modi called on Indians to resolve to buy ‘swadeshi’. He urged political leaders and parties to advocate for this cause, reinforcing the idea that purchasing locally made products supports national growth. The Prime Minister introduced the mantra ‘vocal for local’, encouraging people to choose products crafted by Indian hands.

Appeal to the Business Community

PM Modi extended a special appeal to business owners and shopkeepers, urging them to sell local products amidst global uncertainty. He described this commitment as true service to the nation and a tribute to Mahatma Gandhi’s vision of self-reliance. The Prime Minister believes that collective efforts towards ‘swadeshi’ will pave the way for a developed India.

Government’s Strategic Response

Following Trump’s tariff announcement, which included a disparaging remark about India and Russia’s economies, the Indian government is assessing the situation. Commerce Minister Piyush Goyal informed Parliament that negotiations for a bilateral trade agreement are underway. The Ministry of Commerce and Industry is consulting with stakeholders to evaluate the impact and ensure measures are in place to protect India’s national interests.