Prime Minister Narendra Modi on Thursday said India’s economic trajectory remains “strong and attractive” despite global disruptions, US tariffs, and the steep hike in H-1B visa fees. Speaking at the inauguration of the Uttar Pradesh International Trade Show (UPITS) 2025 in Greater Noida, he underscored the nation’s push toward self-reliance and reforms.
“Bharat jaise desh ko kisi par nirbhar rehna, ab manzoor nahi hai… Despite the global disruptions and uncertainties, India’s growth is attractive. Disruptions don’t hinder us; we look for new directions even in those circumstances,” Modi told industry leaders and delegates.
The Prime Minister highlighted Atmanirbhar Bharat (self-reliant India) as the guiding mantra for future growth. He pointed to the rollout of GST 2.0 and exemptions for individuals earning up to ₹12 lakh annually as measures aimed at boosting household savings and easing the tax burden.
“As the economy strengthens further, the tax burden will keep going down. With countrymen’s blessings, reforms in GST will continue,” Modi said, adding that recent structural reforms have laid new foundations for long-term resilience.
Modi also announced that production of AK-203 rifles will soon begin at a newly established factory in Uttar Pradesh, developed in collaboration with Russia. He said every component of India’s defence ecosystem must proudly carry the ‘Made in India’ label, reinforcing his government’s focus on domestic manufacturing and defence indigenization.
Modi’s remarks come amid growing friction in India-US trade relations. Earlier this month, President Donald Trump announced a $100,000 H-1B visa fee, sparking anxiety among Indian tech workers and companies. India, which accounted for 71% of H-1B approvals last year, is the hardest hit.
Additionally, the Trump administration imposed an extra 25% tariff on Indian exports as a penalty for New Delhi’s continued purchase of Russian oil. With the new levies, India now faces 50% tariffs on shipments to the US one of the steepest in the world.
India has dismissed the tariffs as “unjustified and unreasonable.”
Despite the headwinds, Modi urged international investors to remain confident in India’s trajectory. The RBI recently stated that GST reforms will boost ease of doing business, lower retail prices, and strengthen consumption. Merchandise exports between April and August 2025-26 also showed resilience, with key sectors like smartphones and pharmaceuticals largely shielded from tariffs.
Modi closed his address with a call for innovation, investment, and research, saying: “Every product that can be made in India should be made in India. Our growth story is not only strong but also unstoppable.”
