Prime Minister Narendra Modi on Saturday reiterated that the welfare of farmers, small industries, and youth remains a central priority for his government, as India moves steadily towards becoming the world’s third-largest economy.
His remarks came just days after US President Donald Trump announced a 25% tariff on Indian goods starting 7 August.
Addressing a rally in Varanasi, PM Modi acknowledged rising global economic uncertainty and called for national unity and a focus on self-reliance.
“There is an atmosphere of global instability. All countries are focusing on their individual interests. India is going to become the third biggest economy in the world, and this is why India will have to stay alert as far as its economic interests are concerned,” the Prime Minister stated.
Trump’s tariff announcement includes additional penalties for India’s continued energy trade with Russia.
However, Indian government sources clarified on Saturday that there has been no pause in Russian oil imports.
“India prioritises national interests and market forces when making energy purchases. We do not have any reports of Indian oil firms halting Russian imports,” noted a source.
Earlier, the Ministry of External Affairs reaffirmed that India and the United States maintain a comprehensive global strategic partnership.
The MEA described the relationship as one based on democratic values and long-standing cooperation, resilient despite changes and challenges.
Additionally, PM Modi urged citizens to respond to global challenges by strengthening domestic manufacturing.
“Those who want the best for the country and want to see India as the third biggest economy in the world should leave their differences aside and instil a resolution for ‘swadeshi’ products. We will buy only those things that are made by Indians. We need to embrace Vocal for Local,” the Prime Minister further stressed.
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