US President Donald Trump has imposed an additional 25% tariff on most Indian products, bringing the total to 50%, questioning why India buys cheap oil from Russia and funds Russia’s war against Ukraine. In doing so, he angrily labeled both the Russian and Indian economies as dead economies. Naturally, Modi’s supporters are extremely upset. If such comments came from Pakistan or China, they could easily be ignored or dismissed. But this time, it is Modi’s own friend Trump who has disrespected India’s economy. This is simply unacceptable. Therefore, Modi’s supporters have collectively stepped up to portray India’s economy as strong, vibrant, and dynamic.
Criticism of India’s economy is often heard from economic experts both domestically and internationally. In fact, many economists disagree with the loud claims made by the Modi government about the state of the economy. Meanwhile, opposition parties in the country continuously put the government in the dock over economic issues. But for Trump to nullify his friend Modi’s achievements in this manner! Modi’s supporters cannot accept this.
First, ministers and government officials tried to explain by pointing to stock indices and other economic indicators that the fundamental basis and structure of the economy remain strong. Therefore, there is no reason to worry. A couple of days ago, after the growth rate for the first quarter (April–June) of the current fiscal year was announced, Modi’s supporters began celebrating with open arms, claiming that the economy is performing even better than expected. According to preliminary government data, the growth rate for the first quarter was 7.8%. They believe that with increased demand during the festive season, the second quarter will also see excellent growth. In other words, they are getting a fitting response to Trump’s criticism. Furthermore, from Modi himself to central ministers and government officials, they consistently promote how strong and rapidly developing the economy is. India has surpassed one advanced economy after another to become the world’s fourth-largest economy. In a year or two, it will become the third-largest economy. They also promote that India is the fastest-growing major economy in the world.
It sounds quite pleasing. Supporters are thrilled. But do these promotions truly reflect the real state of the economy? If that were the case, then after overtaking Japan to become the fourth-largest economy, India’s Prime Minister would not have to go to Japan and plead for Japanese investment. Without Japan’s help, bullet trains would not run in India. They would not have to wait for Japan’s technology. Despite its size, India looks up to Japan. Japan, however, does not need India’s capital or technology. Because in all these aspects, Japan is 50 years ahead of India. Unemployed Japanese do not search for jobs in India. Unemployed Indians rush to Japan for work. GDP growth rate or size is not the primary measure of a country’s progress. What matters most is employment, wages, per capita income, advancements in science and technology, progress in education and healthcare, and production of world-class goods. In none of these areas is India in a good position. Therefore, it wilts under Trump’s tariff threats and cannot stand up to them.
