"Economic Selfishness On The Rise": PM Modi Amid Trump Tariff Tensions

His remarks came amid rising tensions between the US and India over the former's escalation of tariff to 50 per cent on Indian goods.

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Prime Minister Narendra Modi at Red Fort on Friday.

In a clear message to citizens in the face of the US's tariff and penalty threats, Prime Minister Narendra Modi on Friday said India is "unstoppable" and it is time for the country to prove its mettle in the global markets with quality products.

Addressing the nation on the occasion of Independence Day, Mr Modi said India will also not compromise on the interest of farmers and not accept any detrimental policies.

His remarks came amid rising tensions between the US and India over the former's escalation of tariff to 50 per cent on Indian goods. 

"This is the time to script history. We have to rule the world market. We have to lower production costs. It is time to prove our mettle in global markets with quality products," the Prime Minister said from the ramparts of the Red Fort. 

'Daam Kam, Dum Zyada (less price, higher quality) should be the mantra (goal). Economic selfishness is on the rise. Don't worry about the other county. It is time to move ahead and meet our goals," he added.

He said the need of the hour is to take a resolve for building a 'samarth Bharat (strong India)', just like the country's freedom fighters had envisioned a "free India". "We should not waste our energy in belittling others, our focus should be on strengthening ourselves," he said.

"The past decade focused on reform, perform and transform; now we have to focus on greater goals. We want our traders, shopkeepers to display boards for 'Swadeshi' products. If you need any change in government policies, do let me know," he said, as he pushed for "Made in India" products under the Centre's flagship campaign.

India has to broaden its horizons, the world will take note of our progress, the Prime Minister said. "We must chart our own path. We have weeded out unnecessary compliances. India is unstoppable and this is an opportunity to dream big," he said. 

Mr Modi also said his government will not tolerate any anti-farmer policies. "Modi will stand like a wall for the farmers. I will not abandon my farmers. Farmers contribute a lot to our economy, they have made India top producer of several commodities," he said. 

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Officials earlier said that India has not caved in to the US pressure in trade talks to provide more access to the country's agriculture and dairy sectors.

On August 6, US President Donald Trump escalated his tariff offensive against India by slapping an additional 25 percent duty and subsequently doubling it to 50 percent on Indian goods over New Delhi's continuous imports of Russian oil.

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India condemned the "unfair, unjustified and unreasonable" move that is likely to hit sectors such as textiles, marine and leather exports hard. Prime Minister Narendra Modi on Thursday said New Delhi would not back down in the face of economic pressure. 

With this action singling out New Delhi for the Russian oil imports, India will attract the highest US tariff of 50 percent along with Brazil. Both Russia and China, among others, have slammed Mr Trump for exerting illegal trade pressure on India.

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