PM maps road to ‘atmanirbharta'

Makes swadeshi push in face of US tariffs and announces next-gen reforms, deepwater energy hunt, defence shield project

- ARCHIS MOHAN New Delhi, 15 August

With economic self-interest now the global order of the day, Indians must not wallow in crisis but instead build strength and standing, Prime Minister Narendra Modi declared from the ramparts of the Red Fort in his Independence Day address on Friday.

Facing stiff US tariffs, Modi appealed to the nation to embrace "swadeshi", and set out his government's drive towards "atmanirbharta"—self-reliance—in everything from jet engines and EV batteries to fertilisers.

In a 103-minute speech, among the longest of his dozen Independence Day addresses since 2014, he spoke about the government's efforts to slash India's energy import bill, which runs into trillions of rupees, and announced a National Deep Water Exploration Mission to hunt for oil and gas.

A task force, he said, would be set up to recommend "next-generation reforms" to overhaul the laws, rules and procedures that govern economic life, working within a strict time-frame.

Even as he prepared the country to face economic challenges because of the 50 per cent US tariff, there was a sweetener. The government will roll out next-generation GST reforms, Modi said, to cut the tax burden on ordinary people, make daily necessities cheaper and boost growth. "It will be a double Diwali gift for you," he promised, with micro, small, and medium enterprises (MSMEs) and small entrepreneurs set to benefit.