Modi refuses to buckle under Trump tariff pressure, hails India-Russia ties as 'time tested'
&imwidth=600&imheight=450&format=webp&quality=medium "Modi refuses to buckle under Trump tariff pressure, hails India-Russia ties as 'time tested'")
Prime Minister Narendra Modi Photograph: (narendramodi.in)
PM Modi also highlighted how his government took the step of removing those earning up to Rs 12 lakh annually from the income tax, under the GST 2.0 reforms.
The Trump tariff pressure on India does not seem to work much as Prime Minister Narendra Modi hailed India-Russia ties at the UP International Trade Show (UPITS) in Greater Noida. Speaking during the inauguration, PM Modi called Russia a "time-tested partner".
"I am happy that more than 2,250 exhibitors are displaying their products and services. Russia is the partner country of this year's trade show. We are strengthening a time-tested partnership through this trade show," said Modi at the trade show.
He highlighted that an assault rifle-manufacturing facility is being built in Amethi district's Korwa by Indo-Russian Rifles Pvt. Ltd, which is a joint venture of Indian DPSUs and Russia's Concern Kalashnikov and Rosoboronexport. The factory will be able to produce over 6,00,000 AK-203 assault rifles.
"Our forces want to reduce their dependence on other nations. We are developing a vibrant defence sector in India... Very soon, in the factory set up with the help of Russia, we will begin manufacturing the AK-203 rifles. A defence corridor is being built in UP," PM Modi said.
PM Modi also spoke on GST reform saying it is an ongoing process that it will strengthen the Indian economy further, and lead to greater savings for the people.
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“We are not going to stop here… As the economy strengthens further, the tax burden will keep going down… With countrymen’s blessings, reforms in GST will continue,” the Prime Minister said at the trade show.
He also highlighted how his government at the Centre took the step of removing those earning up to Rs 12 lakh annually from the income tax, under the GST 2.0 reforms.
Modi also pointed to the efforts being taken to develop a vibrant defence sector and create an ecosystem where every component is indigenously made.
