Indian Economy Defies Criticism, Remains Strong

Finance Commission Chairman Arvind Panagariya rebutted former US President Donald Trump's 'dead economy' remark about India, emphasizing a 7% growth rate. While Trump criticized India's economic state, Commerce Minister Piyush Goyal highlighted India's transformation into a major developing economy and anticipated further growth.

Amidst criticism from former US President Donald Trump, Finance Commission Chairman Arvind Panagariya reaffirmed the resilience and growth of the Indian economy. Trump had labeled India as a 'dead economy,' a claim that Panagariya dismissed citing a consistent 7% growth rate.

Speaking at the Business Today India@100 event, Panagariya emphasized that such growth figures are impossible for a 'dead economy,' pointing out expansion in dollar terms as well. Commerce & Industry Minister Piyush Goyal also bolstered this view in Parliament, stating that India significantly contributes to global economic growth and is on track to becoming the world's third-largest economy.

In response to US tariffs, Indian officials underscored their commitment to global trade, acknowledging some protectionist policies but asserting the economy's openness. As the discourse continues, India's transformation over the past decade remains a point of pride, shifting from a 'Fragile 5' status to becoming a key driver of global economic growth.

(With inputs from agencies.)