www.universalcurrentaffairs.com

Modi urges Indians to get rid of foreign products amid strained US ties.

Indian Prime Minister Narendra Modi in a public address on Sunday asked citizens to stop using foreign-made products and instead use local ones, pushing for a self-reliant campaign when trade ties with the United States have soured.

After U.S. President Donald Trump imposed a 50% tariff on imported Indian goods, Modi has been urging use of "Swadeshi", or made-in-India goods. His supporters have started campaigns to boycott American brands including McDonald's (MCD.N), opens new tab, Pepsi (PEP.O), opens new tab and Apple (AAPL.O), opens new tab, which are hugely popular in India.

India's population of 1.4 billion is a major market for American consumer goods, often purchased from U.S. online retailer Amazon.com (AMZN.O), opens new tab. Over the years, the reach of U.S. brands has expanded deep into smaller towns.

Modi also asked shopkeepers to focus on retailing made-in-India products, arguing that this will boost the country's economic growth.

In recent weeks, many companies have increased the promotion of local goods.

India's Commerce Minister Piyush Goyal is expected to visit, opens new tab Washington soon for trade talks, a trip that would take place amid efforts to ease strained bilateral ties.

Source: www.reuters.com

Share:

No comments:

Post a Comment

Please Donate to our $. 1/= Developer's Fund

TEnpJEr8raJcS4Soj2cW7mezePKUoLVDkV

Translate

Popular Posts

Blog Archive

Recent Posts