MUMBAI/NEW DELHI: You have read about it in history books and several decades later, you are seeing it play out in the form of hashtags on social media and witty brand campaigns-call for swadeshi is back, thanks to Trump tariffs. Only this time, brands are leading the charge. From homegrown companies taking jibes at American rivals through ad campaigns to brands urging loyalty to desi labels, firms are riding on the swadeshi mood to market their products. Such strategies do not always translate into sales because when Indians shop, they look for value, not typically the brand tag. But some amount of moment marketing doesn’t harm, especially ahead of the festive season.

“Such marketing moves by brands are more of an opportunism but Indians are very arm-chair patriotic. If by buying a local product, they think they are being patriotic, they will do it. Such campaigns tend to work in small towns, they rally behind such products,” said Abhijat Bharadwaj, chief creative officer at Dentsu Creative Isobar.Whether it is, Amul’s ‘Swadeshi Swad’ and ‘Made in India…iski tariff karo’ ads and posts on social media platforms such as X or Dabur’s ‘Made in India for Indians’ ad, pitching consumers to make ‘The Swadeshi Choice’, vocal for local is the brand flavour of the season. “Amidst tariff imposition by the USA, India stands strong,” said Amul in a recent post on X. Some corporate chiefs have also backed the call for swadeshi. “Be vocal for local, Buy Swadeshi, Build India,” Gautam Singhania, chairman and managing director at Raymond, which will celebrate its centenary this month posted recently. Several Indian brands today are not only making in India but also taking local products global. In fact, many global brands are expanding their India sourcing capabilities and setting up shops here. Call it an irony but India is now America’s biggest smartphone source, having shipped more smartphones to the US than any other country in Q2 2025, data from Canalys showed.Brands are tapping into the sentiment to strategise. Godrej Enterprises Group (GEG) will focus on its range of AI-enabled smart appliances and IoT-enabled digital locks made locally this festive season. The vocal for local sentiment reflects a powerful shift in India’s consumer mindset, one that celebrates homegrown innovation and self-reliance, said Sumeet Bhojani, head of brand & strategic insights at GEG. “If the stiff tariff issue settles down or the 50% tariff is brought to a much more reasonable number, even this moment shall pass. If not, expect a fair number of Indian brands coming to the fore either overtly, covertly or subliminally and each one wanting to establish their identity,” said business and brand strategy specialist Harish Bijoor, adding that consumers may or may not embrace the moment. Be Indian, buy Indian has been tried many times in India but consumers will not get easily swayed to buy a brand just because of its Indian roots. “They will buy for value. Patanjali had tried the local vs MNC pitch but it didn’t work,” said branding and advertising coach Ambi Parameswaran. Unless there is a crusade to join, nationalism in personal consumption is not an active driver for consumers, added Sandeep Goyal, chairman at Rediffusion.

The India-UK Free Trade Agreement (FTA) signed on July 24 by Prime Ministers Narendra Modi and Keir Starmer will cut trade tariffs from 15% to 3% and is expected to bolster business confidence in a volatile global environment, British MPs were told on Monday.UK Business and Trade Secretary Jonathan Reynolds briefed the House of Commons on the pre-ratification process for the Comprehensive Economic and Trade Agreement (CETA), highlighting its potential impact ahead of full implementation, PTI reported.“This agreement drops the average Indian tariff on UK products from 15% to 3%, with duties falling by around £400 million at entry, rising to £900 million after staging,” Reynolds said. “It is expected to increase bilateral trade by £25.5 billion, raise UK GDP by £4.8 billion, and boost wages by £2.2 billion annually. In an increasingly unstable world, this deal provides businesses with confidence as they grow and expand.”The FTA secures preferential access to India’s federal procurement market, guarantees opportunities for UK service suppliers, and simplifies trade through improved customs and digital processes, Reynolds added. Specific regional gains include £190 million for the West Midlands and Scotland and £210 million for the North West, supporting the UK’s high-growth sectors.Reynolds also informed MPs about the commissioning of the Trade and Agriculture Commission, the Food Standards Agency, and Food Standards Scotland, whose reports under Section 42 of the Agriculture Act 2020 are needed before Parliament can ratify the agreement.Parallel negotiations on the Double Contribution Convention, agreed alongside the FTA to prevent temporary foreign workers from duplicating social security contributions, will also follow the standard parliamentary process.The India-UK CETA, signed during Modi’s UK visit, aims to double bilateral trade to $120 billion by 2030. While implementation in India requires only Cabinet approval, ratification in the UK is expected to take up to a year. In the House of Lords, junior minister Baroness Maggie Jones briefed peers on the progress of the FTA.

Former Reserve Bank deputy governor Michael Patra on Monday said corporate India is a “missing actor” in the country’s growth story, stressing that the economy can accelerate beyond 8% if businesses step up investments.“Now we are seeking to head back [to 8%]. The most important missing actor in this is corporate India, which is not investing enough,” Patra said at an Elara Capital event, PTI reported.He noted that growth slipped to 6.5% in FY25 due to a cyclical correction but the Q1FY26 print of 7.8% suggests momentum is building toward the 8% mark.Patra identified demand uncertainty as a key factor deterring corporates from investing, since firms are unsure of revenue growth from fresh capacity creation. He added that while exports may not be a dependable driver in the current environment, a boost to consumption followed by investments could set off a virtuous cycle for the economy.He also said inflation management was essential to sustain consumption growth, defending RBI’s post-Covid rate hikes as necessary for long-term stability. On the external front, he played down the impact of US tariffs, suggesting targeted government support to affected sectors.The former monetary policy head pointed out that banks are becoming increasingly inactive, with loans moving to alternative channels and deposits flowing into mutual funds. He also suggested adding one more member to the Monetary Policy Committee to address concerns over the governor’s casting vote, while ruling out the inclusion of liquidity management in its remit as it requires real-time action.Patra flagged structural challenges in labour markets, noting that over half of India’s workforce is not in the right jobs. He emphasised the need to overhaul education, raise women’s participation in the labour force, boost infrastructure spending, and embrace global integration.On long-term risks, he cautioned: “Climate change is a big challenge before an India, which can halt all our ambitions,” adding that the issue is not acknowledged seriously enough.