Trade key to strengthening India’s economy: Rajnath Singh

Defence Minister Rajnath Singh said India’s economy cannot thrive without trade and business activity, urging support for indigenous production. Speaking at a Lucknow event, he credited the Aatmanirbhar Bharat push for strengthening both India’s economy and defence manufacturing capabilities.

Lucknow: Defence Minister Rajnath Singh has emphasised that the country’s economy cannot be strengthened without trade, highlighting that economic growth relies on the spending capacity of individuals and the pace of business activities.

Addressing the Vyapari Milan Sammelan organised under the Aatmanirbhar Bharat Abhiyan’s ‘Har Ghar Swadeshi, Ghar Ghar Swadeshi’ campaign by the Lucknow BJP on Friday, Singh urged trade associations and office-bearers to meet at least once a year to discuss issues collectively, noting that many problems are resolved more efficiently through coordinated efforts.

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“In terms of trade, without business, the country’s economy cannot be strengthened. Until people have money in their pockets and trade activities accelerate, the pace the economy needs cannot be achieved,” Singh said.

The Lok Sabha MP from Lucknow recalled that Prime Minister Narendra Modi, upon assuming office, emphasised promoting indigenous production, following the strong advocacy of Mahatma Gandhi for swadeshi.

“If we want to make India a strong nation, elevate its global stature, and solve poverty and unemployment, we must adopt the path of indigenous production; otherwise, these goals cannot be achieved,” he said.

Singh emphasised the critical role of traders in the economy, likening them to veins and arteries in the human body that circulate blood.
“If business stops, the entire economic system comes to a halt. Trade and commerce must always continue,” he added.

The Union minister cited his recent interactions in Australia, noting that the country has fewer retail traders than India, and officials, including the prime minister and deputy prime minister there, appreciated India’s growing economic strength. “They said they wish to achieve what India is progressing towards,” he added.

Referring to India’s defence manufacturing capabilities, Singh highlighted Hindustan Aeronautics Limited’s branch in Nasik, which produces Tejas Mark 1A 4.5-generation fighter aircraft.

“Earlier, we had to import almost everything, but now fighter jets are being manufactured in India,” he said.

He further said India’s defence sector has grown rapidly, with imports and transactions of military equipment continuing, whereas earlier, even minor items were imported from abroad.

“When I became defence minister, total production was around Rs 45,000-46,000 crore. Now, production has reached nearly Rs 1.5 lakh crore,” he said.