“Dependence is a recipe for disaster”: PM Modi calls for economic autonomy in I-day address

Prime Minister Narendra Modi, in his address to the nation on India’s 79th Independence Day, delivered a message that was both urgent and forward-looking. Against the backdrop of growing trade tensions with the United States, he called for sweeping reforms and a renewed focus on self-reliance.

“Dependence on other countries is a recipe for disaster,” Modi said, speaking from the Red Fort. “To protect our interests, India must stand on its own feet.”

The Prime Minister’s remarks came just a day after India received a sovereign credit rating upgrade from S&P Global — the first since 2007 — a development seen by many as a vote of confidence in the country’s economic management. Modi used the moment to announce the creation of a special task force that will be responsible for designing and implementing what he described as “next-generation reforms” aimed at strengthening India’s economic foundations.

Business leaders responded positively, with many calling for deeper policy overhauls. Mahindra Group Chairman Anand Mahindra said India should take this opportunity to streamline how investments are handled. “A truly effective single-window clearance system would be a game changer,” he noted.

Tensions with the U.S. have intensified recently following the imposition of steep tariffs on Indian goods — in some cases as high as 50%. The move has triggered concern within India’s export sector and added pressure on the government to explore alternative markets and strengthen domestic demand.

Modi’s emphasis on “Aatmanirbhar Bharat” — or self-reliant India — has been a consistent theme in recent years. But in his Independence Day speech, he broadened its meaning. “Self-reliance is about safeguarding our freedom in all dimensions — economic, strategic, and social,” he said, suggesting that resilience must be built into every level of national planning.

To support domestic consumption, Modi announced that the government would look into reducing Goods and Services Tax (GST) rates on certain products ahead of Diwali. The goal, he said, is to put more money in the hands of consumers and help revive demand during the festive season.

Addressing the manufacturing sector, he encouraged businesses to focus on producing goods that are both affordable and globally competitive. He used the phrase “Dum kaam par dum zyada” — roughly translated as “more strength in less effort” — to capture the idea of smarter, more efficient production.

He also touched on India’s strategic goals, highlighting the need for energy security and technological independence. Citing sectors such as semiconductors, defense aviation, and critical minerals, Modi said the country must invest in its own capabilities rather than rely heavily on global supply chains.