Vocal for Local: PM Modi urges people to embrace 'swadeshi' spirit amid 'global economic uncertainty'
You Might Also Like:
PM Modi transfers Rs 20,500 crore under PM Kisan Yojana, inaugurates several development projects in Varanasi
(You can now subscribe to our
(You can now subscribe to our Economic Times WhatsApp channel
Prime Minister Narendra Modi on Saturday called on citizens to adopt the spirit of " swadeshi " and support locally-made products , stressing that true service to the nation lies in promoting indigenous goods , especially amid "global economic uncertainties".Addressing a public meeting in his parliamentary constituency Varanasi, Modi said, "As we talk about economic progress, I want to draw your attention to the current global scenario."The world economy is facing instability and uncertainty. In such times, countries are focusing solely on their own interests. India, too, is on the path to becoming the world's third-largest economy and must remain alert to its own economic priorities."The prime minister's renewed push for 'swadeshi' (indigenous) comes amid the US announcing tariffs on exports from about 70 nations, including India.According to the White House order, India now faces tariffs of 25% for its exports to the US.Emphasising that farmers, small industries, and employment for youth are the top-most priorities for the government, Modi said, "The government is doing everything possible in this direction. But as citizens, we too have responsibilities."Calling for a national movement to support local products, the prime minister said, "This is not just about Modi saying it, every Indian should say this -- if we want India to become the third-largest economy, every political party and every leader, keeping aside their hesitations, must work in the nation's interest and awaken the spirit of swadeshi among the people."He also urged people to be conscious consumers, saying, "Whatever we buy, we should ask ourselves -- has an Indian toiled to make this? If it has been made by the sweat of our people, with their skills, that product is swadeshi for us. We must adopt the mantra of ' Vocal for Local '."Making a special appeal to traders and shopkeepers, the prime minister said, "At a time when the world is going through uncertainty, let us take a pledge to sell only swadeshi goods from our shops and markets. Promoting made in India goods will be the truest service to the country."With the festival and wedding seasons approaching, the prime minister encouraged people to ensure that all new purchases are made in India.He recalled how many citizens changed their wedding plans from abroad to India after his earlier appeal."The feeling of swadeshi in every action will define our future. This will also be a true tribute to Mahatma Gandhi. Only through collective effort can we fulfil the dream of a developed India," Modi said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News18
14 minutes ago
- News18
JSW Cement IPO: Rs 3,600-Crore Issue Opens August 7; Check Key Dates, Financials & More
Reported By : Last Updated: August 03, 2025, 11:47 IST JSW Cement To Launch Rs 3600 Cr IPO On August 07. JSW Cement IPO: The Sajjan Jindal-led JSW Group and backed by private equity firms Apollo Global and Synergy Metals, JSW Cement, is set to raise Rs 3,600 crore through its initial public offering (IPO), opening on August 7. The offer will remain open for subscription till August 11, while the anchor book for institutional investors will open on August 6. The total issue size is lower than the previously proposed Rs 4,000 crore, as per the latest red herring prospectus (RHP). The allotment of JSW Cement will be finalised on August 12, and JSW Cement shares will debut on the BSE and NSE on August 14. If launched, this would mark the first IPO from a large Indian cement player since Nuvoco Vistas' Rs 5,000 crore listing in August 2021, which was backed by the Nirma Group. It also comes less than a year after JSW Infrastructure's public listing in October 2023—the first IPO from the JSW Group in 13 years. JSW Cement's IPO plans arrive at a time of heightened consolidation and competitive intensity in India's cement sector, which has seen a series of mergers and acquisitions involving top players like UltraTech Cement (Aditya Birla Group) and the ACC-Ambuja combine (Adani Group). JSW Cement had earlier acquired Shiva Cement in 2017, which now acts as a clinker supplier—a key ingredient in cement manufacturing—for the parent company. The IPO is being managed by a consortium of investment banks including JM Financial, Kotak Mahindra Capital, Jefferies, Axis Capital, Citi, Goldman Sachs, DAM Capital, and SBI Capital Markets. Khaitan & Co is acting as the company's legal counsel. GMP for JSW Cement IPO has not started yet. JSW Cement's Expansion Plans JSW Cement focuses on manufacturing green cementitious products such as portland slag cement, portland composite cement, and ground granulated blast furnace slag. The company also produces ordinary portland cement and a range of allied products including ready-mix concrete, construction chemicals, waterproofing compounds, and screened slag. As of March 2024, the company had an installed grinding capacity of 20.60 million metric tonnes per annum (MMTPA) and clinker capacity of 6.44 MMTPA. According to the DRHP, proceeds from the fresh issue will be utilised for setting up a new integrated cement plant in Nagaur, Rajasthan, repaying debt, and general corporate purposes. Swipe Left For Next Video View all Founded in 2009 in southern India, JSW Cement currently operates seven plants across the country. The company aims to more than double its grinding capacity to 40.85 MMTPA and clinker capacity to 13.04 MMTPA in the coming years. Its long-term target is to reach a total cement production capacity of 60 MMTPA. Disclaimer: The views and investment tips by experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions. Varun Yadav Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst... Read More Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst... Read More Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! view comments News business » ipo JSW Cement IPO: Rs 3,600-Crore Issue Opens August 7; Check Key Dates, Financials & More Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy. Read More
India.com
14 minutes ago
- India.com
EPFO Employer Contribution Unveiled: 7 Must-Know Facts That Could Change Your PF Game
photoDetails english 2940698 Updated:Aug 03, 2025, 11:15 AM IST Who Needs to Enroll in EPF? 1 / 7 All companies with 20 or more employees must register for the Employees' Provident Fund (EPF) scheme as mandated by the EPFO. This helps workers build retirement savings. How Is the Contribution Calculated? 2 / 7 Both the employee and employer contribute 12 percent each of the employee's basic salary to EPF every month. Employee's Contribution Breakdown 3 / 7 The entire 12 percent from the employee's basic salary goes into their own EPF account. This full amount earns annual interest and grows over time. Understanding Employer's Contribution 4 / 7 Although the employer also contributes 12 percent, it is not contributed entirely to the employee's EPF account. The employer's contribution gets split into different EPF-linked schemes. Employer's Contribution Split 5 / 7 Of the employer's 12 percent: 8.33 percent goes to the Employees' Pension Scheme (EPS) 3.67 percent goes to the Employees' Provident Fund (EPF) Why Employer's PF Contribution Appears Less Than Employee's 6 / 7 For example, if you contribute Rs 2,000 monthly to your EPF, the employer contributes Rs 2,000 as well, but only Rs 611 (3.67 percent) goes to your EPF account. The rest goes to the pension scheme (EPS). How to Check Your Contributions 7 / 7 You can view detailed contributions made by both you and your employer in your EPFO member passbook. This shows the split and helps track your retirement benefits.
India.com
14 minutes ago
- India.com
Get Rs 7000 monthly without paying anything, Modi government launches new LIC scheme for...; check eligibility criteria
LIC- File image LIC Bima Sakhi Yojana: In a matter of good news for half of the Indian population, the Life Insurance Corporation of India, under the leadership of the Modi government has launched a new scheme named the Bima Sakhi Yojana under which subscribers will receive Rs 7000 monthly without paying any premium. Dedicated to women empowerment, the LIC scheme gives women an opportunity to become LIC agents and earn the monthly stipend along with proper training. LIC Bima Sakhi Yojana: What's the eligibility criteria? Under the LIC Bima Sakhi Yojna, selected members between the age of 18 to 70 will work as LIC agents and get a fixed sum of Rs 7000 monthly for the first year. Thereon, the agents will get Rs 6000 on a monthly basis from second year onwards provided that at least 65 percent of the policies opened during the first year should remain active. LIC Bima Sakhi Yojana: Who are not eligible? Notably, the women who are retired corporation employees, former agents, relatives, husband or wife, children, parents, siblings and in-laws of LIC employees will not be eligible for the scheme. What is the Bima Sakhi Yojana? The Bima Sakhi Yojana, also known as the Bima Sakhi Scheme, is an initiative by the Life Insurance Corporation of India (LIC) aimed at empowering women and promoting financial literacy and insurance awareness. The scheme is open to women aged between 18 and 70 who have passed at least the 10th standard. How will Bima Sakhi Yojana help Indian women? Under this programme, selected women receive specialised training and a monthly stipend for the first three years, helping them build a career as LIC agents. As per a report by IANS, the scheme is designed to equip women with the knowledge and skills needed to promote life insurance products effectively in their communities. Notably, one of the key goals of the Bima Sakhi Scheme is to improve financial literacy among women, enabling them to spread awareness about insurance within their local areas. (With inputs from agencies)
