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Beyond the slogan
Financial Express Hyderabad
|August 05, 2025
PM's renewed push for Swadeshi is inspiring, but going local, simply for the sake of it, could backfire
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AGAINST A BACKDROP of waning globalisation and multilateralism, Prime Minister Narendra Modi has made a renewed push for Swadeshi, exhorting Indians to buy and sell only locally made goods. The appeal comes in the backdrop of a huge turbulence in the global economy and the US slapping a harsh 25% tariff as well as an added penalty. US President Donald Trump may believe the Indian economy is "dead", but the huge local demand is a big plus and makes us the fastest-growing market for a range of goods and services. Modi's public advice is also in line with his 2020 emphasis on self-reliance under the banner of Atmanirbhar Bharat.
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