{"id":355361,"date":"2025-07-31T07:15:06","date_gmt":"2025-07-31T12:45:06","guid":{"rendered":"https:\/\/tehelka.com\/?p=355361"},"modified":"2025-07-31T07:16:32","modified_gmt":"2025-07-31T12:46:32","slug":"indian-economy-will-be-third-largest-says-goyal-after-trumps-dead-economy-comment","status":"publish","type":"post","link":"https:\/\/tehelka.com\/indian-economy-will-be-third-largest-says-goyal-after-trumps-dead-economy-comment\/","title":{"rendered":"\u2018Indian economy will be third largest,\u2019 says Goyal after Trump\u2019s \u2018dead economy\u2019 comment"},"content":{"rendered":"\n

They (India and Russia) can take their dead economies down together, for all I care, said Trump; everyone knows Indian economy is a dead economy, said Rahul Gandhi; he also\u00a0claimed that an India-US trade deal will happen and Trump will define it, and PM Modi will do what American President tells him<\/strong><\/em><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

On a day of fast moving geopolitical and economic developments, Commerce Minister Piyush Goyal said that India will protect its national interest while pursuing any trade deal with world economies.\u00a0 The suo moto comments in the Parliament followed\u00a0US President Donald Trump announcing a 25% tariff on India which will come into effect from August 1.<\/p>\n\n\n\n

Goyal said the government is studying the implications of the tariff announcements and what seemed like a response to Trump\u2019s jibe that India is a \u2018dead economy\u2019, Goyal said the Indian economy will soon become the third largest in the world in terms of GDP size and is currently the world\u2019s fastest growing major economy. <\/p>\n\n\n\n

In a span of few years India has gone from being the world’s 11th largest to the fifth largest, he also said.<\/p>\n\n\n\n

\u201cIn less than a decade, India came out of \u2018Fragile Five\u2019 economies and it has now become the fastest-growing economy of the world. On the basis of the hard work of reforms, farmers, MSMEs and industrialists, we have come in the top five economies of the world from the 11th largest economy. It is expected that we will be the third largest economy in a few years. Today, global institutions and economists see India as a bright spot in the global economy,\u201d Goyal said.<\/p>\n\n\n\n

Meanwhile, the ministry is engaged with all stakeholders including exporters and industry, for feedback\/ assessment of the situation.<\/p>\n\n\n\n

India \u2018dead economy,\u2019 says Trump  <\/strong><\/p>\n\n\n\n

While the 25% tariff on all goods imported from India will affect nearly all Indian exports to America, Trump also mentioned an unspecified penalty linked to India\u2019s ongoing trade with Russia, particularly in oil and arms.<\/p>\n\n\n\n

In a post on Truth Social, he talked of the penalty for procuring crude and defense equipment from Russia. India is also a part of BRICS which is a threat to the Dollar, he said.  However, negotiations will continue with India<\/p>\n\n\n\n

Later he said that the US has done very little business with India, and also that Russia and the US do almost no business together.<\/p>\n\n\n\n

\u201cI don\u2019t care what India does with Russia. They can take their dead economies down together, for all I care. We have done very little business with India, their Tariffs are too high, among the highest in the World. Likewise, Russia and the USA do almost no business together. Let\u2019s keep it that way, and tell Medvedev, the failed former President of Russia, who thinks he\u2019s still President, to watch his words. He\u2019s entering very dangerous territory!\u201d he said<\/p>\n\n\n\n

Opposition slams PM Modi<\/strong><\/p>\n\n\n\n

Leader of Opposition in the Lok Sabha Rahul Gandhi added saying that everyone knows Indian economy is a dead economy and that he was glad that Trump stated a fact.<\/p>\n\n\n\n

\u201cTHE INDIAN ECONOMY IS DEAD. Modi killed it. 1. Adani-Modi partnership 2. Demonetisation and a flawed GST 3. Failed \u201cAssemble in India\u201d 4. MSMEs wiped out 5. Farmers crushed Modi has destroyed the future of India\u2019s youth because there are no jobs,\u201d he wrote on X<\/p>\n\n\n\n

Later, speaking with reporters in the Parliament House Complex, he said, \u201cI am glad President Trump has stated a fact. Everyone knows the Indian economy is a dead economy, everyone except the Prime Minister and Finance Minister.\u201d<\/p>\n\n\n\n

\u201cYou don\u2019t know the Indian economy is a dead economy? Do you have any confusion? The whole world knows the Indian economy is dead and the BJP has destroyed it to help Adani. Why are you all looking surprised?\u201d he in turn posed to those who asked him the question.  <\/p>\n\n\n\n

Gandhi also claimed that an India-US trade deal will happen and Trump will define it, and PM Modi will do what the American President tells him  .<\/p>\n","protected":false},"excerpt":{"rendered":"

They (India and Russia) can take their dead economies down together, for all I care, said Trump; everyone knows Indian economy is a dead economy, said Rahul Gandhi; he also\u00a0claimed that an India-US trade deal will happen and Trump will define it, and PM Modi will do what American President tells him On a day […]<\/p>\n","protected":false},"author":187,"featured_media":355362,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[36],"tags":[18411,18342,16631,19726],"_links":{"self":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/355361"}],"collection":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/users\/187"}],"replies":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/comments?post=355361"}],"version-history":[{"count":3,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/355361\/revisions"}],"predecessor-version":[{"id":355365,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/355361\/revisions\/355365"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/media\/355362"}],"wp:attachment":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/media?parent=355361"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/categories?post=355361"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/tags?post=355361"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}