Days after US President Donald Trump labelled India a “dead economy,” Prime Minister Narendra Modi on Saturday said that the country must remain alert to its “own economic priorities” amid the instability and uncertainty facing the world economy. He urged Indians to stand firm on economic nationalism and self-reliance.
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Speaking at a public rally in Varanasi’s Banauli village, Modi underscored that India is on track to become the world’s third-largest economy amid growing international uncertainty.
“In such times, countries are focusing solely on their own interests. India, too, must remain alert to its own economic priorities,” Modi said, invoking a renewed push for Swadeshi. “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.”
The remarks come days after Trump announced a 25 per cent import tariff on Indian goods, effective August 7, and warned of further penalties for India’s ongoing purchase of Russian crude oil and military equipment. In a post on Truth Social, Trump said: “They (Russia and India) can take their dead economies down together, for all I care.”
After Trump’s statement, India’s response was measured. Commerce Minister Piyush Goyal told Parliament on Thursday that India remains the world’s fastest-growing major economy and is widely expected to emerge as the third-largest globally in the near future.
In his speech Saturday, Modi framed the global economic instability as a moment of opportunity for India. “The feeling of Swadeshi in every action will define our future,” he said. “This will also be a true tribute to Mahatma Gandhi. Only through collective effort can we fulfil the dream of a developed India.”
He urged citizens to become conscious consumers and adopt the ‘Vocal for Local’ mantra. “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.”
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The prime minister also called on all political parties to unite behind the goal of national economic advancement. “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,” he said.
