India world's most 'dashing and dynamic' economy, some people not liking it: Rajnath Singh
Raisen (MP), Aug 10 (PTI): Defence Minister Rajnath Singh on Sunday described India's economy as the world's most "dashing and dynamic" and said some people who have the attitude of "we are everyone's boss" are not liking it.
Singh's comments come amid high tariffs announced by US President Donald Trump on goods imported from India.
The speed with which India is moving ahead, no power in the world can stop it from becoming a big power globally, Singh said in his address after performing bhoomi pujan of a rail coach manufacturing unit of the Bharat Earth Movers Limited (BEML) in Madhya Pradesh's Raisen district.
''Today, if any country has a dashing and dynamic economy, it is India's economy,'' he asserted.
The defence minister, without naming anyone, said some people are not liking the rapid development of India and are unable to digest it.
"They think that we are everyone's boss and how is India moving forward so fast? Many people are trying to do something, so that when things made by the hands of Indians in India go to countries of the world, they become more expensive than the things made in those countries, and they become so expensive that the people of the world do not buy them," he said.
In 2014, India was at the 11th position in terms of the economy. Today, India is counted among the top four countries of the world (in terms of economy), Singh said.
"If any country has a rapidly growing economy, it is our India," he added.
"It means that the country is moving forward and its people are also moving ahead, because if the countrymen do not move forward, India cannot move forward," he said.
Singh said that earlier, things related to defence production were made in the world, by foreigners, and India used to buy from them.
"But today, many of these things are not only being made on the Indian soil, not only by the hands of Indians, and we are not only fulfilling our needs but we are also exporting to other countries of the world. Countries of the world are buying our goods," he said.
Singh said when Narendra Modi became the prime minister in 2014, only Rs 600 crore worth of Indian defence products were exported to other countries.
"But now, we are exporting defence products of more than Rs 24,000 crore to countries of the world. This is the power of India. This is the new defence sector of the new India," he pointed out.
Singh also mentioned about the terrorist attack in Jammu and Kashmir's Pahalgam, in which 26 persons were killed in April, and said India gave a befitting reply to Pakistan, referring to the Indian military's Operation Sindoor.
"People were killed (by terrorists) after being asked to identify their religion. We cannot kill people after asking their religion. We do not believe in murder. We do not even kill ants. We have resolved that we will kill people (terrorists) not by looking at their religion, but by looking at their deeds," he said.
Singh said that India's clear stand is that "we will not spare anyone who instigates us."
Referring to the rail coach unit, the minister said it is a big gift for the Raisen and Vidisha region in MP and will provide employment to 5,000 persons.
Madhya Pradesh is moving ahead rapidly in terms of industries as the state has recently received an investment proposal of more than Rs 30 lakh crore, he noted.
"If the leadership is excellent, development happens rapidly. I think that after a few years, people will start calling Madhya Pradesh a modern state," Singh said.
When this unit is ready, the surrounding area will also develop rapidly, he added.
Earlier, Singh performed the bhoomi pujan of the BEML's rail coach unit to be built at a cost of Rs 1,800 crore at Umaria village in Raisen district.
The project has been named BRAHMA (BEML Rail Hub for Manufacturing) and its initial production capacity will be 125 to 200 coaches per year, which is targeted to be increased to 1,100 coaches per year in five years, as per officials.
MP Chief Minister Mohan Yadav, Union Agriculture Minister Shivraj Singh Chouhan and other dignitaries attended the bhoomi pujan programme organised at the Dussehra Ground in Obedullaganj near Umaria.
A video message of Railway Minister Ashwini Vaishnaw was broadcast during the programme.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
India proposes preferential trade agreement with Mexico to deal with high tariffs
New Delhi (PTI): India has proposed a preferential trade agreement (PTA) with Mexico to help domestic exporters deal with the steep tariffs announced by the South American country, a top government official said on Monday.
Mexico has decided to impose steep import tariffs - ranging from about 5 per cent to as high as 50 per cent on a wide range of goods (about 1,463 tariff lines) from countries that do not have free trade agreements with Mexico, including India, China, South Korea, Thailand and Indonesia.
Commerce Secretary Rajesh Agrawal said that India has engaged with the country on the issue.
"Technical level talks are on...The only fast way forward is to try to get a preferential trade agreement (PTA) because an FTA (free trade agreement) will take a lot of time. So we are trying to see what can be a good way forward," he told reporters here.
While in an FTA two trading partners either significantly reduce or eliminate import duties on maximum number of goods traded between them, in a PTA, duties are cut or removed on a limited number of products.
Trading partners of Mexico cannot file a compliant against the decision on imposing high tariffs as they are WTO (World Trade Organisation) compatible.
The duties are within their bound rates, he said, adding that their primary target was not India.
"We have proposed a PTA because its a WTO-compatible way forward... we can do a PTA and try to get concessions that are required for Indian supply chains and similarly offer them concessions where they have export interests in India," Agrawal said.
ALSO READ: Mexico's Congress approves higher tariffs on goods from India, China and non-FTA nations
Citing support for local production and correction of trade imbalances, Mexico has approved an increase in MFN (most favoured nation) import tariffs (5-50 per cent) with effect from January 1, 2026 on 1,455 tariff lines (or product categories) within the WTO framework, targeting non-FTA partners.
Preliminary estimates suggest that this affects India's around USD 2 billion exports to Mexico particularly -- automobile, two-wheelers, auto parts, textiles, iron and steel, plastics, leather and footwear.
The measure is also aimed at curbing Chinese imports.
India-Mexico merchandise trade totalled USD 8.74 billion in 2024, with exports USD 5.73 billion, imports USD 3.01 billion, and a trade surplus of USD 2.72 billion.
The government has been continuously and comprehensively assessing Mexico's tariff revisions since the issue emerged, engaging stakeholders, safeguarding the interests of Indian exporters, and pursuing constructive dialogue to ensure a stable trade environment benefiting businesses and consumers in both countries.
ALSO READ: Search operation ends in Anjaw truck accident, 20 bodies recovered
Federation of Indian Export Organisations (FIEO) Director General Ajay Sahai has said that Mexico's decision is a matter of concern, particularly for sectors like automobiles and auto components, machinery, electrical and electronics, organic chemicals, pharmaceuticals, textiles, and plastics.
"Such steep duties will erode our competitiveness and risk, disrupting supply chains that have taken years to develop," Sahai said, adding that this development also underlines the little urgency for India and Mexico to fast-track a comprehensive trade agreement.
Domestic auto component manufacturers will face enhanced cost pressures with Mexico hiking duties on Indian imports, according to industry body ACMA.
