India’s growth continues despite global ‘economic selfishness’, says PM in dig at Trump tariffs

Prime Minister Narendra Modi on Tuesday said India’s economy is doing better than expected, even as many countries are facing problems because of 'economic selfishness.' His remarks came as an indirect reference to US President Donald Trump, who had earlier increased tariffs on Indian goods by 50 per cent under his 'Make America Great Again' policy.

India’s strong economic growth

Speaking at Semicon India 2025 in Delhi, Modi pointed to the latest GDP figures, saying, “Once again, India has performed better than all predictions and assessments. When the global economy is facing concerns and challenges created by selfish policies, India has still managed to record 7.8 per cent growth. Government data released last Friday showed India’s economy expanded 7.8 per cent year-on-year in April-June, up from 7.4 per cent in the previous quarter. This was the fastest pace in five quarters, achieved despite the new tariffs from the US.

Semiconductors and US tariff penalties

During his address at the conference, Modi said the world has confidence in India and wants to work together on building the future of semiconductors. At the event, he was also handed the first chips manufactured in India. Trump had in August first imposed a 25 per cent duty on Indian imports and later added another 25 per cent citing India’s purchase of Russian oil. India has consistently stated that these tariffs are 'unjustified.'