Varanasi, Aug. 3 -- Asserting that India is on the path to becoming the world's third-largest economy, Prime Minister Narendra Modi said on Saturday that the country must remain alert to its own economic priorities amid the instability and uncertainty facing the world economy.

PM Modi's remarks came just days after US President Donald Trump called India a "dead economy" after announcing a 25 per cent tariff on the import of Indian goods along with an unspecified "penalty" for buying Russian military equipment and crude oil.

Addressing a public meeting in his Varanasi parliamentary constituency on Saturday, Modi said, "As we talk about economic progress, I want to draw your attention to the current global scenario. The world economy is f...