India’s Prime Minister Narendra Modi has pledged to pursue an “atmanirbhart” or self-reliant development path, citing US tariffs as a major concern. The move comes after the US raised duties on Indian steel and aluminum products by 50% amid trade tensions.
Modi announced his vision for a self-sufficient India in a speech earlier today, highlighting the need for domestic industries to become more competitive. This comes ahead of a visit from US President Donald Trump later this month, where they are expected to discuss trade relations.
India has been working to reduce its reliance on foreign imports and promote local production, particularly in key sectors such as textiles and automotive. The government aims to boost domestic manufacturing and create jobs through various initiatives and policies.
Source: https://www.ft.com/content/b04ac590-34da-4408-b477-28bedfac7103