PM Narendra Modi urged Indians on Saturday to collectively reduce dependency on foreign nations.
Speaking at the ‘Samudra se Samriddhi’ event in Bhavnagar, Gujarat, he emphasised that the future of 140 crore Indians cannot be entrusted to external forces, nor should national development rely on foreign dependency.
Earlier, during his Independence Day address from the Red Fort, PM Modi outlined his vision for a self-reliant India.
“In a world of rising economic self-interest, we must focus on strengthening India’s capabilities, expanding opportunities, and empowering citizens. These reforms mark the beginning of an accelerated phase of governance transformation, ensuring India is more resilient, inclusive, and globally competitive,” he said.
Indian entrepreneurs and politicians have supported the Prime Minister’s call for a more self-reliant economic strategy, particularly in response to global pressures and trade uncertainties.
Global Trade Trends Reinforce Self-Reliance
Recent reports from UNCTAD, WTO, and IMF have highlighted a global shift toward protectionism, prompting nations to prioritise domestic resilience. UNCTAD described a ‘tectonic shift’ in US tariff policy as ‘a departure from rules that have underpinned the international trading system for 30 years’.
The report recommended that vulnerable economies diversify export markets, invest in value-added production, and strengthen alliances within multilateral and regional trade blocs.
Fitch’s economic monitor noted a global slowdown in trade volume growth during the second quarter of 2025, following an initial surge caused by ‘front-loading’ ahead of new tariffs.
The volatility in global steel markets, according to Fitch, underscores why nations are increasingly considering self-reliance as a strategic imperative.
Analyses from Oxford Economics and Motilal Oswal suggest that while US tariff actions disrupt trade, they also compel countries and businesses to reassess supply chains and diversify markets, core principles of self-reliance.
Motilal Oswal highlighted that India can use strategic import duties to reduce dependency on foreign goods and boost local manufacturing, aligning with the ‘Atmanirbhar Bharat’ initiative.
Atmanirbhar Bharat Abhiyan and Domestic Manufacturing
Since 2014, PM Modi’s government has increased tariffs and offered production-linked incentives (PLIs) to promote domestic manufacturing and attract foreign investment.
The US imposed a 27% tariff on Indian goods during Donald Trump’s tenure, which some analysts viewed as a catalyst for India to pursue greater economic sovereignty.
Launched in 2020, the Atmanirbhar Bharat Abhiyan emphasised self-reliance through structural reforms and PLI schemes, aiming to strengthen India’s domestic industries and reduce foreign dependency.
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