NATIONAL: Rahul Gandhi Criticizes PM Modi, Calls for Economic Overhaul
In the wake of global financial turbulence triggered by US tariff announcements, Congress leader Rahul Gandhi launched a strong critique of Prime Minister Narendra Modi, urging India to pivot toward a resilient, production-driven economy.
“The illusion is shattered. Reality is striking back. PM Modi is missing in action. India must wake up and build an economy that works for every citizen,” said Gandhi on Monday, highlighting growing economic concerns.
Tariff Shockwaves Rattle Global Markets
Global financial markets, including India’s Sensex and Nifty, faced intense pressure following US President Donald Trump’s declaration of reciprocal tariffs. This move has rekindled fears of a full-blown trade war and a potential global economic slowdown.
In India, the Sensex plunged over 2,100 points in the past week, mirroring the anxiety seen across major stock exchanges around the world.
“Stock Market Doesn’t Represent You”: Gandhi in Patna
Speaking at the Samvidhan Suraksha Sammelan in Patna, the leader of the opposition in Lok Sabha emphasized that the stock market’s rise and fall doesn’t benefit the common Indian.
“Less than 1% of Indians are invested in the stock market. Massive wealth is generated, but it doesn’t reach you,” Gandhi told the crowd, reinforcing his call for inclusive economic reforms.
Trump’s Re-Election and Hardline Trade Stance
Following his re-election, President Trump reaffirmed his tough trade position. He reiterated that the United States would mirror tariffs imposed by other countries, including India, to ensure “fair and balanced trade.”
This posture has escalated tension among trading partners and injected further uncertainty into global financial markets.
India’s Economic Focus Shifts to RBI and Earnings Season
As the dust settles from the tariff tremors, investor focus in India will now turn to two crucial events: the Reserve Bank of India’s (RBI) upcoming monetary policy decisions and Q1 corporate earnings reports. Both will offer insights into India’s economic trajectory amid global headwinds.