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‘Swadeshi push’ | PM Modi: India to be 3rd largest economy, must be vigilant about own interests

The remarks come days after President Trump announced a 25 per cent import tariff on Indian goods, effective August 7, and warned of further penalties for India’s ongoing purchase of Russian crude oil and military equipment.

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Speaking at a public rally in Varanasi’s Banauli village, PM Narendra Modi underscored that India is on track to become the world’s third-largest economy amid growing international uncertainty. (Express File Photo by Anil Sharma)Speaking at a public rally in Varanasi’s Banauli village, PM Narendra Modi underscored that India is on track to become the world’s third-largest economy amid growing international uncertainty. (Express File Photo by Anil Sharma)
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Days after US President Donald Trump called India a “dead economy”, Prime Minister Narendra Modi on Saturday said India was on its way to becoming the world’s “third-largest economy” and must remain vigilant about its economic interests amid the “instability and uncertainty” that the global economy is facing.

Addressing a public meeting in his parliamentary constituency of Varanasi, Modi said: “As we talk about economic progress, I want to draw your attention to the current global situation… The global economy is currently facing multiple uncertainties and an atmosphere of instability. In such a scenario, countries across the world are focusing on their own interests. India is on the path to becoming the world’s third-largest economy. So we, too, must remain vigilant about our economic interests.”

At a time when India has been resisting giving duty concessions to the US on agriculture and dairy sectors — a key US demand in the trade talks with India — Modi emphasised that the welfare of farmers, small industries and youth employment was a top priority for his government. He highlighted the government’s farmer-centric policies and said they were constantly working for the well-being of farmers.

The PM also made a renewed push for ‘Swadeshi’, emphasising that every party, leader and citizen must work to promote indigenous goods if “we want India to become the third-largest economy”.

Making a special appeal to traders and shopkeepers, he said: “At a time when the world is going through uncertainty, let us take a pledge to sell only Swadeshi goods from our shops and markets. Promoting Made-in-India goods will be the truest service to the country… 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 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.”

Calling for a national movement to support local products, he said: “This is not just about Modi saying it, every Indian should say this — if we want India to become the third-largest economy, every political party and every leader, keeping aside their hesitations, must work in the nation’s interest and awaken the spirit of Swadeshi among the people.”

“Every choice we make in favor of Swadeshi will shape the future of the country. With everyone’s effort, the dream of a developed India will come true. From now on, let’s pledge to buy and decorate our homes with only Indian-made products,” he said.

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Modi’s remarks come just days after Trump announced a 25 per cent tariff on Indian goods from August 7, along with an unspecified penalty for its defence and energy imports from Russia. In a post on Truth Social earlier this week, Trump had said, “I don’t care what India does with Russia. They can take their dead economies down together, for all I care… We have done very little business with India, their tariffs are too high, among the highest in the world”. He had termed India’s trade policies as “most strenuous and obnoxious”.

In Varanasi, Modi also talked about other rural schemes including the PM Dhan-Dhaanya Krishi Yojana, PM Fasal Bima Yojana, Lakhpati Didi campaign and the Drone Didi initiative.

He said that under the PM-Kisan Samman Nidhi, nearly Rs 3.75 lakh crore had been transferred directly to farmers’ accounts so far. In Uttar Pradesh alone, 2.5 crore farmers have received over Rs 90,000 crore, including Rs 900 crore to farmers from Varanasi, he said. “You have elected such a strong MP that Rs 900 crore has come directly into your accounts,” he said.

“Our government is working with full strength to transform the lives of farmers, increase their income, and reduce the cost of cultivation, We stand firmly with farmers from seed to market,” he said.

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The PM inaugurated and laid the foundation stone for 52 projects worth around Rs 2,200 crore during his one-day visit to the city.

– With PTI inputs from Varanasi

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  • donald trump India Narendra Modi United States
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