Congress leader Rahul Gandhi on Monday slammed Prime Minister Narendra Modi and called for India to focus on building a resilient, production-based economy that benefits all citizens amid US tariffs issue.
“Trump has blown the lid off the illusion. Reality is biting back. PM Modi is nowhere to be seen. India has to accept reality. We have no choice but to build a resilient, production-based economy that works for all Indians,” Rahul said.
Global asset markets, including those in India, have been experiencing volatility following US President Donald Trump’s recent reciprocal tariff declaration. Financial markets worldwide witnessed significant declines, particularly after Trump’s extensive trade tariffs, raising concerns about potential trade conflicts and worldwide economic downturn.
Speaking in Patna earlier during the day, Lok Sabha leader of opposition said that the US president has caused the stock market to tumble. “The US president has led to a tumble in the stock market. Less than 1 per cent of the people here have their money invested in the stock market, which means the stock market is not a field for you. Unlimited money is made in it, but you don’t get the benefit of it,” Rahul said, addressing the Samvidhan Suraksha Sammelan in Patna.
Indian stock markets ended the previous week negatively, impacted by Trump’s reciprocal tariffs and related ambiguities. The Sensex experienced a substantial decline of approximately 2,100 points during the week.
Following his re-election, President Trump has maintained his position on tariff reciprocity, stating that the United States would implement equivalent tariffs to those imposed by other nations, including India, to promote equitable trade.
In the coming period, market attention will shift towards the RBI monetary policy decisions and the forthcoming corporate earnings announcements.
