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India to become third largest economy despite global instability — PM

Narendra Modi also stressed the importance of supporting domestic production and promoting the "Made in India" initiative

NEW DELHI, August 2. /TASS/. India is on track to become the world's third-largest economy, despite global instability, Prime Minister Narendra Modi said after US President Donald Trump's statements about the country’s "dead economy."

"There is an atmosphere of global instability in the world. All countries are focused on their own interests. India is set to become the world's third-largest economy, which is why it must be vigilant about its economic interests," the prime minister emphasized.

Modi also stressed the importance of supporting domestic production and promoting the "Made in India" initiative.

"We will buy only what Indians produce. We must support local producers," the prime minister emphasized.

Earlier, US President Donald Trump said that despite friendly relations between the two countries, the US has relatively little trade with India because tariffs are "far too high, among the highest in the world." The US president pointed out that India has always purchased most of its military equipment from Russia and is also, along with China, is also the largest buyer of Russian energy resources. According to Trump, India will pay a 25% tariff in this regard. The US leader later stated that he does not care about the economic and trade ties between India and Russia, calling their economies "dead.".

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