Indian Prime Minister Narendra Modi has called on the country to move towards “self-reliance” and boost its manufacturing of products, including fertilizers, jet engines and electrical vehicle batteries.
His plea formed part of Modi’s address celebrating India’s Independence Day in New Delhi yesterday.
Modi said that “farmers, fishermen, cattle rearers are our top priorities. Modi will stand like a wall against any policy that threatens their interests. India will never compromise when it comes to protecting the interests of our farmers.”
The comments follow the imposition by the United States of a 25% tariff on Indian goods, due to a breakdown in trade negotiations between the United States and India when the United States sought to open up India’s farming market to outside imports.
Modi urged Indian shopkeepers to display boards for “Swadeshi” products, using the Hindi word for goods made in India. Modi claimed that Indian semiconductor chips would be available on the market by the end of this year and that India was pushing for self-reliance in the production of critical minerals.
Some supporters of Modi’s BJP party have called for a boycott of US companies, as part of efforts to counter the effects of these tariffs and boost local consumption.
Modi also announced that there would be a lower goods and services tax starting in October, to encourage more local consumption.
In recent years, relations between the United States and India have warmed after reaching a low point during the 1970s, when India drifted closer to the Soviet Union while the United States backed India’s rival Pakistan.
Since 2000, however, relations began to improve, with the United States seeking to position India as an ally against China. This warming of relations, however, appears to have hit a difficult spot in the wake of these failed trade negotiations.
[Image: By Kremlin.ru, CC BY 4.0, https://commons.wikimedia.org/w/index.php?curid=60775594]