'Whatever Tariffs Or Tantrums Trump Throws...': India Inc's Harsh Goenka, Others Hails Q1 GDP Surge
Strong domestic demand and a bold infrastructure push continue to fuel India's growth momentum, said Harsh Goenka.
India’s GDP surged 7.8% in the first quarter, cementing its position as the world’s fastest-growing major economy. Chairman of RPG Enterprises, Harsh Goenka used this data to counter US President Donald Trump’s recent “dead economy” jibe, saying that "whatever tariffs or tantrums" may come, the India growth story remains intact.
"Strong domestic demand and a bold infrastructure push continue to fuel momentum, with the latest figures underscoring the country’s resilience against global headwinds," the India Inc. leader said in a post on X.
India's gross domestic product growth, at 7.8% in the April-June period, exceeding the estimate of 6.7% during the quarter under review, according to economists polled by Bloomberg. This is also the highest growth in the last five quarters.
Jyoti Vij, Director General, FICCI told ANI that the GDP growth is a testament to Indian economy’s resilience. She further added that India will be able to navigate the near-term external challenges on the back of strong domestic demand and opening up of new market opportunities.
Not just Goenka even Kyunghoon Kim, Head of India and South Asia Team at Korea Institute for International Economic Policy, said that the economy is 'Very much "alive"!'
Professor Shamika Ravi, Economic Advisor to the Prime Minister in her post on X, said, “Dead”ly news for global growth."
This comes in response to Trump calling India and Russia, “dead economies” and accusing New Delhi of maintaining unfair trade practices.
Trump, earlier this month, launched a tirade against India while announcing additional 25% tariffs on the country for its purchase of Russian crude oil. This is in addition to the so-called reciprocal levies of 25%, taking the cumulative levy to 50%.
“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,” Trump had said in a post on Truth Social.
