PM says economy strong, seeks self-reliance in tech

India is the world's fastest-growing major economy and is rapidly moving towards becoming a global leader, Prime Minister Narendra Modi said in Bengaluru on Saturday, days after US President Donald Trump described the country's economy as "dead" amid escalating trade tensions between the two nations.

- Arun Dev

Addressing a public gathering after inaugurating the 19-kilometre Yellow Line of the Bengaluru Metro, Modi said India was on track to become one of the world's top three economies as he credited the country's economic momentum to the central government's "reform, perform, transform" approach.

"India is currently the fastest-growing major economy in the world. In the past eleven years, India's economy has risen from the 10th position to the top five

globally and is rapidly progressing towards becoming one of the top three economies," he said.

The PM's endorsement of the country's economic growth came after Trump, on July 30, announced 25% punitive tariffs on Indian goods entering America for purchasing Russian oil. A day later he again targeted India, saying, "I don't care what India does with Russia... They can take their dead economies down together, for all I care." On August 6, he signed an executive order imposing an additional 25% tariff on Indian goods. India has called the American actions "unfair, unjustified and unreasonable".

and said it will take all actions necessary to protect its national interests.

In his address, Modi also called for the country to accelerate its self-reliance in the technology sector as he pressed for a stronger "Tech Atmanirbhar Bharat".