Prime Minister Narendra Modi has come out swinging against Trump’s latest tariff threat urging India to buy and sell local goods. He said that the nation needs to remain alert to its economic goals, especially at a time when the world economy is going through ‘uncertainty and instability’. Trump had announced a 25% tariff on Indian goods last week and with the country buying Russian oil, more sanctions are expected to follow.
Taking note of the situation, PM Modi said that the world is going through “unstable” times and most countries are prioritising their own interests. He added that as India moves closer to becoming the world’s thrid-largest economy, it must stay focussed and protect its own economic priorities. His remarks came just two days after Trump described India as a “dead economy” along with Russia.
While talking about the importance of supporting Indian-made goods, PM Modi called for a renewed commitment to ‘Swadeshi’. He said every Indian, be it a citizen, trader, or leader, should come forward to support indigenous products.
PM Modi vs Trump
After announcing 25% duty on Indian goods, Trump also mentioned a “penalty” for countries purchasing Russian oil and military hardware, of which India is a key benefactor. The 25% tariff announcement by Washington has raised concerns in India and is being viewed as a way to pressure the country into agreeing to US trade terms.
Speaking on the same lines, PM Modi has appealed to shopkeepers in particular, saying, “In these times of global uncertainty, let us pledge to stock and sell only Swadeshi products in our shops and markets. Supporting Made-in-India goods is one of the most genuine ways we can serve the nation.”
The tariff move has raised concerns in India and is being viewed as a way to pressure the country into agreeing to US trade terms.
He also encouraged people to be thoughtful while buying products. “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. We must adopt the mantra of ‘Vocal for Local’.”
The PM further emphasised that adopting Swadeshi values is a tribute to Mahatma Gandhi and crucial for India’s growth. “The spirit of Swadeshi in all our actions will shape the future of our nation. It will serve as a genuine tribute to Mahatma Gandhi. Together, through united efforts, we can realise the vision of a developed India,” PM Modi said.
Farmers also a priority, says PM
Addressing the crowd in Banauli village, Modi highlighted various farmer-friendly initiatives taken by the government. He said that improving farmers’ welfare remains a top priority and that the government is consistently working in their interest.
Modi made a strong appeal for a national-level movement to support local businesses and products. He said this should not just be his message, but something that resonates with every Indian. “This isn’t just something Prime Minister Modi should say — it’s something every Indian must believe in. If we truly want India to become the world’s third-largest economy, then every political party and every leader must rise above their differences, put the nation first, and inspire a spirit of Swadeshi among the people.”
Trade dispute with the US escalates
The latest round of tariffs from the US is seen as a way to pressure India into agreeing to Washington’s terms in an ongoing bilateral trade negotiation. The US has already signed favourable trade agreements with countries like Japan, the UK and the European Union.
Initially scheduled for August 1, the US will now impose a 25% import duty on Indian products from August 7. US President Trump has also warned of a penalty for India over its oil and defence purchases from Russia, although the specifics of this penalty have not been disclosed yet.