‘Bharat ko kisi par nirbhar rehna…’ : PM Modi says 'India's growth is attractive' despite Trump tariff, H-1B concerns
Prime Minister Narendra Modi emphasized India's attractive growth amid global disruptions at the Uttar Pradesh International Trade Show-2025. He highlighted the importance of self-reliance and strengthening India's foundations for future growth, rejecting dependency on others.
Prime Minister Narendra Modi on Thursday said that despite the global disruptions and uncertainties, “India's growth is attractive”.
Addressing the gathering after inaugurating the UP International Trade Show (UPITS), PM said, “Bharat jaise desh ko kisi par nirbhar rehna, ab manzoor nahi hai…Despite the global disruptions and uncertainties, India's growth is attractive. Disruptions don't hinder us, but even in those circumstances, we look for new directions.”
The UPITS-2025 trade show, under the theme “Ultimate Sourcing Begins Here”, is being held from 25 to 29 September.
He added, “Amid all these disruptions, India is strengthening the foundations for the coming decades. Our resolve and mantra is Atmanirbhar Bharat. Nothing can be more helpless than being dependent on others. The more a country stays dependent others, the more its growth is going to stay compromised…”
Modi said that recent structural reforms in GST are set to give new wings to India's growth story and lead to greater savings for the people.
He stated that the government introduced reforms in the indirect tax regime by implementing GST in 2017, a significant step towards strengthening the economy, followed by further reforms in September of this year.
"We are not going to stop here... As the economy strengthens further, the tax burden will keep going down... With countrymen's blessings, reforms in GST will continue," the Prime Minister said.
PM Modi further highlighted several government initiatives, such as exempting individuals earning up to ₹12 lakh annually from income tax and implementing GST 2.0 reforms, stating that these measures will lead to greater savings for citizens.
He also spoke about the development of a robust defence sector, noting that India is building an ecosystem where every component proudly carries the 'Made in India' label. He announced that the production of AK-203 rifles will soon commence at a new factory in Uttar Pradesh, established in collaboration with Russia.
Also Read: H-1B visa fee shock: What it means for India, China, and the US? Who wins, who loses? EXPLAINED
Modi underscored the importance of self-reliance, urging increased investment in research and innovation. He noted that every product that can be manufactured in India should be made in India. Despite global uncertainties and geopolitical tensions, Modi invited international investors, asserting that India' s growth trajectory remains strong and attractive.
US-India relations
PM Modi's statement comes at a time when New Delhi's relationship with Washington DC is facing turbulence. Donald Trump's surprise H-1B visa fee hike of $100,000 (~ ₹90 lakh) triggered a wave of panic, leaving tech giants, including Meta and Microsoft, on the edge.
India was recorded as the largest beneficiary of H-1B visas last year, accounting for 71 per cent of approved beneficiaries.
Trump, in his address to the United Nations General Assembly, said China and India are the "primary funders" of the Ukraine war by continuing to purchase Russian oil.
The Trump administration has imposed an additional 25 per cent tariff on New Delhi as a penalty for its purchases of Russian oil, taking the total levies imposed on India by the US to 50 per cent, among the highest in the world.
India has called the tariffs imposed by the US unjustified and unreasonable.
Meanwhile, the RBI bulletin said on Wednesday that the GST reform will have a positive impact on the Indian economy by promoting ease of doing business, lowering retail prices, and strengthening consumption growth drivers.
On the 50 per cent tariff imposed by the US on Indian shipments, the article said its immediate impact may be sector-specific, given that around 45 per cent of India's merchandise exports to the US are exempted from the tariffs, including sectors constituting major export products, particularly smartphones and pharmaceuticals.
However, despite the elevated trade policy uncertainties, merchandise exports have shown resilience during April-August 2025-26, the report said.
"While the imposition of high US import tariffs brought in some headwinds to the domestic macro-outlook, the developments since then have underscored the resilience of the economy," it said, adding that the S&P sovereign rating upgrade was an acknowledgement of its strong macro-fundamentals.
(This is a developing story)