'India won't bow down to pressure; 4-trillion-dollar economy strong enough....', say sources after Trump's 'dead economy' remark

Following US President Donald Trump's "dead economy" remark about India, a government source said that the country is a strong USD 4 trillion economy which can withstand any pressure and that the Indian government stands firm in the wake of a 25 percent tariff slapped by the States administration, India TV reported. 

"The government believes that the Indian economy is strong enough to withstand the tariff decision by the United States. India is a 4 trillion dollar economy, and we must safeguard the interests of our farmers and MSMEs," a government source told India TV, affirming that "pressure tactics hold no meaning" and that "whatever is in the national interest will be done". 

Meanwhile, Union Minister of Commerce and Industry Piyush Goyal said today in the Parliament that the government will take all necessary steps to safeguard the interests of the nation. "Government gives utmost priority to the safeguarding of welfare of farmers, labourers, entrepreneurs, industrialists, exporters, MSMEs and stakeholders of the industrial sector. We will take all necessary steps to safeguard our national interest. The Government is confident that we will continue our swift journey of inclusive and consistent development towards the goal of Viksit Bharat 2047. Aatmanirbharta ki ore Bharat aatmavishwas se badh raha hai," he said, as quoted by news agency ANI. 

'Dead economies...'

Earlier today, Donald Trump claimed that he "doesn't care what India does with Russia" and that the two nations can take their "dead economies" down together."I don't care what India does with Russia. They can take their dead economies down together, for all I care. We have done very little business with India, their tariffs are too high, among the highest in the world. Likewise, Russia and the USA do almost no business together. Let's keep it that way, and tell Medvedev, the failed former President of Russia, who thinks he's still President, to watch his words. He's entering very dangerous territory!" Trump said in a post on Truth Social.

The comments come a day after Trump announced a 25 per cent tariff plus a penalty on India for trading with Russia. "Remember, while India is our friend, we have, over the years, done relatively little business with them because their Tariffs are far too high, among the highest in the World, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any Country". The US President cited India’s trade ties with Russia as a reason to impose a penalty on New Delhi.

“Also, they have always bought a vast majority of their military equipment from Russia, and are Russia's largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE - ALL THINGS NOT GOOD! INDIA WILL THEREFORE BE PAYING A TARIFF OF 25%, PLUS A PENALTY FOR THE ABOVE, STARTING ON AUGUST 1st. THANK YOU FOR YOUR ATTENTION TO THIS MATTER. MAGA!"