Modi’s remarks come as US-India trade tensions escalate following steep tariff hikes, with upcoming talks in China expected to focus on reviving key commodity flows.
India’s Prime Minister Narendra Modi used his Independence Day address to push for deeper self-reliance and unveil fresh tax reforms, just days after U.S. President Donald Trump doubled tariffs on Indian goods to 50% over its continued oil trade with Russia.
Speaking from New Delhi’s Red Fort, Modi urged citizens to produce high-quality goods domestically and achieve self-sufficiency in energy, minerals, technology, and defense, warning against rising “economic selfishness” worldwide, according to a Bloomberg report.
The 103-minute speech took place against the backdrop of worsening trade tensions that New Delhi has branded as “unfair, unjustified, and unreasonable.”
The tariff hike, which analysts say could cost India nearly 1% of GDP, has also prompted a diplomatic reset with Beijing.
Modi will visit China for the Aug. 31–Sept. 1 Shanghai Cooperation Organisation summit, his first in seven years, where discussions on resuming key trade in rare earth magnets, fertilizers, and pharmaceuticals are expected.
The Prime Minister said the government will roll out “next-generation” Goods and Services Tax reforms by October to lower the burden on businesses, particularly small and medium enterprises.
He also pledged a “new normal” in security policy, rejecting nuclear blackmail and vowing an indigenously built precision defense system.
A new task force will be established to implement time-bound policy changes, with Modi describing the moment as an opportunity to “visualize big dreams” and “make history.”
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