Is the Welfare of Farmers and Small Industries a Top Priority for PM Modi Amid US Tariffs?
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Synopsis
PM Modi stresses the importance of prioritizing farmers and small industries as India prepares for growth. Amid US tariffs, he calls for unity in supporting local products. Discover how these developments could shape India’s economic landscape.
Key Takeaways
- The government prioritizes the welfare of farmers and small industries.
- India aims to become the world's third-largest economy.
- US tariffs on Indian goods are set to impact trade relations.
- Emphasis on 'swadeshi' products and local purchasing.
- India's energy imports are determined by national interests.
Varanasi, Aug 2 (NationPress) The well-being of farmers, small industries, and the youth continues to be the government's “top priority” as the nation aims to become the world’s third-largest economy, stated Prime Minister Narendra Modi during a rally here on Saturday. This announcement comes in light of US President Donald Trump’s intention to impose 25 percent tariffs on Indian goods starting August 7.
PM Modi emphasized the strength of the Indian economy, asserting that the nation must remain vigilant about its economic interests while promoting ‘swadeshi’ products.
“In the current global climate of instability, countries are prioritizing their individual needs. India is on the verge of becoming the third largest economy globally, and thus, we must stay alert regarding our economic interests,” the Prime Minister remarked.
This week, Trump declared reciprocal tariffs of 25 percent on Indian imports and additional penalties for purchasing Russian oil.
Despite Trump’s claims regarding India's oil purchases from Russia, government sources clarified on Saturday that there has been no halt in these imports. They stated, “India's energy procurement is driven by national interests and market dynamics. Reports of Indian oil firms ceasing Russian imports are unfounded.”
On Friday, the Ministry of External Affairs (MEA) reiterated that India and the US maintain a strong global strategic partnership based on mutual interests, democratic values, and resilient people-to-people connections that have endured various challenges.
PM Modi assured citizens that the government is dedicated to acting in the nation’s best interests.
“Those who seek the best for our country and wish to see India as the third largest economy should set aside differences and champion ‘swadeshi’ products. We must prioritize buying goods made by Indians and embrace the ‘vocal for local’ movement,” he urged during his address.
Point of View
I emphasize the importance of unity and resilience in the face of external economic pressures. The government's focus on farmers and local industries not only aligns with national interests but also strengthens India's position as a major global player.
NationPress
07/10/2025
Frequently Asked Questions
What is PM Modi's stance on farmers and small industries?
PM Modi has reiterated that the welfare of farmers, small industries, and youth is a top priority for the government as India progresses towards becoming the third-largest economy.
What tariffs did Trump announce for India?
President Trump announced a 25 percent tariff on Indian goods, set to take effect on August 7.
Is there a pause in India's oil imports from Russia?
Government sources confirmed that there is no halt in oil imports from Russia, countering Trump's claims.
How does the government plan to support local industries?
The government encourages the purchase of 'swadeshi' products and supports the 'vocal for local' initiative to boost domestic industries.
What is the significance of the India-US partnership?
The India-US partnership is anchored in shared interests and democratic values, and has withstood various challenges and transitions.
