PM Modi Calls For Swadeshi Push Amid 25% Tariff Announcement By Donald Trump
Speaking at a rally in his Lok Sabha constituency of Varanasi on Saturday, PM Modi underlined the growing uncertainty in the global economy and stressed that India must safeguard its economic priorities as it approaches the milestone of becoming the world's third-largest economy.
'Today, the world economy is going through many ups and downs. There is an atmosphere of uncertainty. In such a situation, every country is focusing on its interests. India is also going to become the third-largest economy in the world and, therefore, has to be alert to its economic interests. Our farmers, our industries, employment for our young people, their interests – all of these are paramount for us. The government is making every effort in this direction,' Modi said.
He urged citizens to take ownership of the country's economic progress, encouraging them to support Indian-made goods in their everyday purchases.
'But, as citizens of the country, we also have some responsibilities... This is something not just Modi but everyone should keep saying. Anyone who wants to make India the third-largest economy in the world, any political party, any leader, should speak in the country's interest and instil in people that they need to resolve to buy 'swadeshi'... When we decide to buy anything, there should be only one measure: We are going to buy those things which an Indian has sweated to make. Anything that has been made by the people of India, using the skill of the people of India, by the sweat of the people of India, is 'swadeshi' for us. We will have to adopt the 'vocal for local' mantra,' he said.
Calling for a renewed focus on the 'Make in India' initiative, Modi made a special appeal to the business community and retailers to prioritise local products during this period of economic flux.
'And today, I would like to make a special request to my brothers and sisters from the business world, to shopkeepers, that when the world is going through such uncertainty, we will sell only local products. This resolution will be true service to the country... 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,' he added.
The Trump administration's tariff announcement, made on Wednesday, was accompanied by a disparaging remark labelling India and Russia as 'dead economies.' The Indian government has responded cautiously, stating it is evaluating the consequences of the move and will take necessary action to protect national interests.
Commerce Minister Piyush Goyal, addressing Parliament on Thursday, confirmed that bilateral trade negotiations with the United States are ongoing and reiterated the government's commitment to shielding Indian stakeholders from adverse external impacts.
"The implications of the recent developments are being examined by the government. The Ministry of Commerce and Industry is engaged with all stakeholders, including exporters and industry, to take feedback on their assessment of the situation. The government attaches the utmost importance to protecting and promoting the welfare of our farmers, workers, entrepreneurs, exporters, MSMEs and all sections of industry. We will take all necessary steps to secure and advance our national interest," Goyal said.
As geopolitical tensions and trade uncertainties continue to unfold, the Modi government appears set to double down on its domestic production and consumption strategies, positioning 'swadeshi' as both an economic and nationalistic imperative.
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