Prime Minister Narendra Modi, while addressing a public rally in Varanasi on Saturday, said India is on track to becoming the world's third-largest economy. He urged the country to stay focused and "vigilant" about protecting its economic interests.
“India is set to become the world’s third-largest economy… therefore, India must remain vigilant about its economic interests. Our farmers, our small industries, employment for our youth… their interests are paramount for us. The government is making every effort in this direction," he said.
Calls for Unity and Support for Local Products
Referring to the global economic instability, PM Modi said the government is working tirelessly for the nation's best interests. He encouraged all political parties and citizens to support Indian-made goods.
“Those who want the best for the country and want to see India as the third biggest economy in the world, be it any political party, should leave their differences aside and instil a resolution for ‘swadeshi’ products. We will buy only those things that are made by Indians. We need to become vocal for local,” he added.
Trump’s Harsh Remarks Stir Political Reactions
The prime minister's remarks come after U.S. President Donald Trump sparked a fresh debate with a controversial post on social media. In his statement, Trump called India a “dead economy” while discussing its ties with Russia. He had recently imposed a 25% tariff on nearly all imports from India.
Trump wrote, “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 also criticized Russia and mocked former Russian President Dmitry Medvedev, calling him “a failed former President” and warned him against making bold statements.
Rahul Gandhi Echoes Trump’s Criticism
Congress leader Rahul Gandhi used Trump’s remark to attack the Modi government. “I am glad President Trump has stated a fact. Everyone knows the Indian economy is a dead economy, everyone except the Prime Minister and Finance Minister,” he said.
However, some Congress leaders and allies appeared to distance themselves from his statement.
Government Defends Economic Performance
In response to these criticisms, the Indian government defended the country's economic progress. Commerce Minister Piyush Goyal, during a speech in Parliament, stated that India is now one of the top five global economies and continues to grow rapidly.
“In less than a decade, India came out of ‘Fragile Five’ economies and it has now become the fastest-growing economy of the world. On the basis of the hard work of reforms, farmers, MSMEs and industrialists, we have come in the top five economies of the world from the 11th largest economy,” Goyal explained.
He emphasized, “It is expected that we will be the third-largest economy in a few years. Today, global institutions and economists see India as a bright spot in the global economy.”
Despite criticism from global leaders and opposition voices, the Indian government remains confident in its economic growth path. PM Modi's call to support local products and unity across political lines reflects his broader goal of strengthening India's position on the world stage.