Daijiworld Media Network - Varanasi
Varanasi, Aug 2: Prime Minister Narendra Modi reaffirmed his government's focus on the welfare of farmers, small industries, and youth, declaring these as core priorities as India advances toward becoming the world’s third-largest economy. His remarks come amid rising global trade tensions, with U.S. President Donald Trump announcing a steep 25% tariff on Indian goods, effective from August 7.
Speaking at a public rally in his parliamentary constituency of Varanasi, PM Modi struck a tone of economic self-reliance, urging citizens to embrace ‘swadeshi’ (locally made) products and adopt a ‘vocal for local’ mindset to safeguard India’s economic interests.
“The world is going through a period of instability. Every country is acting in its own interest. India must stay alert and work with unity to protect our economy. Our journey to becoming the third-largest economy requires strong internal resolve,” he said.
US Tariffs Stir Diplomatic and Trade Concerns
President Trump’s announcement of reciprocal tariffs has added friction to India–US trade ties. The White House also warned of additional penalties if India continues importing oil from Russia. Trump alleged that India may have already stopped buying Russian oil.
However, Indian officials swiftly dismissed that claim. Sources clarified on Saturday that India's energy strategy remains unchanged and continues to be guided by national interests and market conditions.
“There is no halt in Russian oil imports by Indian companies,” government sources said, emphasizing that energy security is not influenced by political pressure.
India–US Ties Remain Strong Despite Disagreements
Despite these trade developments, the Ministry of External Affairs (MEA) reiterated on Friday that the India–US partnership remains robust and rooted in shared democratic values and long-standing people-to-people connections. The strategic relationship, the MEA noted, has stood firm through various global transitions and disagreements.
A Call for Unity and Economic Nationalism
Concluding his speech, PM Modi appealed to citizens to rise above political divides and work collectively toward economic self-reliance.
“If you want to see India rise, support Indian-made goods. Let us commit ourselves to swadeshi products and ensure that every rupee spent strengthens our economy,” he urged.
As global headwinds test India's economic resolve, the Prime Minister's message was clear: self-reliance, unity, and strategic awareness will be key as the country navigates its path to global economic leadership.