Trump made a big mistake about India, economist Bhanumurthy gave a befitting reply, read the whole news
India global economy There is an attractive site in and has remained the fastest growing big economy for the last three years. In such a situation, US President Donald Trump’s calling India’s economy ‘dead’ is absolutely wrong. NR Bhanumurthy said this on Sunday by famous economist and director of Madras School of Economics. He said that unlike other major economies, the Indian economy is largely based on domestic factors. With the huge domestic market and growing digital market, the risk on the growth front is limited on the growth front due to uncertain global economic conditions.
It is noteworthy that after the announcement of imposing a 25 percent fee on India and ‘fine’ for trade with Russia, Trump wrote on a social media platform last week, “I don’t care what India does with Russia.” I don’t mind how they can take their ‘dead economies’ down. “Bhanumurthy said,” The US President’s statement is absolutely wrong. If we look at the global economy, India is definitely a ‘attractive place’ in a threatened global economy. India is the fastest growing big economy for the last three years, whose inflation rate is less than three percent. All other criteria such as current account deficit (CAD), public loans, foreign exchange reserves, are all indicating a strong economy. ”
We will soon become the fourth economy
He said, “With excessive poverty almost termination, we will soon become the fourth largest economy. Similarly, whatever economic criteria you look at, India is not seen in a weak position. ”According to official data, retail inflation in June was reduced to a six -year low of 2.10 percent. This is less than the satisfactory level (four percent) of the Reserve Bank of India. At the same time, the current account deficit was 0.6 percent of GDP in the last financial year 2024-25. Similarly, foreign exchange reserves rose $ 2.70 billion to $ 698.19 billion in the week ended 25 July. The famous economist said, “Unlike other major economies, the Indian economy is largely based on domestic factors. With the huge domestic market and growing digital market, the risk on the growth front is limited on the growth front due to uncertain global economic conditions. In addition, since a large part of investment is supported by domestic savings (current account deficit less than one percent), the impact of global risk is limited. ”
Need to pay attention to manufacturing sector
He said, “Although we need more attention to the expansion of manufacturing sector to create more employment for our growing youth.” Asked if our economy is sufficiently strong to face the challenges related to fees, Bhanumurthy said, “In the global world, in the global world, the strength of a economy does not depend only on domestic factors, but also depends on our big economy, rather it is also dependent on the world. How strong the relationship is. No country can take the risk of separation. So far, India’s performance has been excellent in this matter. “He said,” India is more important and India should be at the top in terms of economic stability in large economies. ” India has increased business relations with many countries and has also created a strong voice of the global South. But if he has to grow at a rate of six to seven percent annually, he will still have to depend on the global economy. In the absence of global growth, we will probably be able to increase only at the rate of only five to six percent.
Concern over the amount of fine
When asked about the impact of US fee on the Indian economy, Bhanumurthy said, “Since India is in a state of surplus in trade with the US, 25 percent of the fee will have an impact on exports.” However, it depends on specific items and requires a specific strategy to deal with it. “He said,” Petroleum and services do not come under the purview of fees and India is strong and competitive in these areas. There is more concern about the fines on import of crude oil (ambiguous amount of fine) from Russia and how India will deal with it is a major challenge. Trade agreement with other countries can be strategically important. Also, India and Russia may be forced to strategic alliances with other trade groups. India has already signed a trade agreement with Britain and also has a close relationship with the European Union. Such business agreements can help India diversify their business while maintaining domestic interests.
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