Prime Minister Narendra Modi urged citizens to buy locally made good to cushion the economy during heightened global uncertainty.
The comments came days after Trump slapped a 25% tariff on Indian exports to the US and imposed higher duties on several countries, stoking concerns about a slowdown in global growth and market volatility. He didn't refer to US tariffs directly in his speech at a rally in the northern state of Uttar Pradesh on Saturday.
“The world economy is going through many apprehensions, there is an atmosphere of instability,” he said. “Now, whatever we buy, there should be only one scale: we will buy those things which have been made by the sweat of an Indian.”
Modi's renewed emphasis on domestic manufacturing and consumption echoes his long-standing “Make in India” initiative. However, the message has taken on new urgency after the US tariffs.
The US president recently accused India of maintaining disproportionately high tariffs, compared with other Asian nations, and warned of further penalties, citing India's ongoing energy and defense deals with Russia.
Modi underscored the importance of shielding India's economic interests during uncertain global conditions.
“The interests of our farmers, our small industries and the employment of our youth are of paramount importance,” he told the rally.
India has to remain vigilant about its economic interests, when other countries are focusing on their own interests, he said.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
