Core Viewpoint - The Reserve Bank of India Governor Sanjay Malhotra responded to former President Trump's comments labeling India as a "dead economy," asserting that India's contribution to global economic growth exceeds that of the United States, with India at approximately 18% compared to the U.S. at around 11% [1][3]. Group 1 - Malhotra emphasized India's strong growth trajectory, stating that the country is on a path to further enhance its economic performance [1]. - The International Monetary Fund (IMF) forecasts India's economic growth rate for the fiscal year 2025-2026 at 6.4%, significantly higher than the U.S. growth rate of 1.9% [3]. - In response to Trump's announcement of a 25% tariff on Indian goods, Indian Prime Minister Modi urged citizens to support local products to mitigate economic impacts amid global uncertainties [3]. Group 2 - Trump's comments included criticism of India's high tariffs, which he described as among the highest in the world, and suggested that India's economy is heavily reliant on the U.S. market [3]. - Modi's statements, while not directly addressing Trump, were interpreted as a rebuttal to the notion that India is a "dead economy" and highlighted India's ambition to become the world's third-largest economy [3].

Core Viewpoint - The Reserve Bank of India Governor, Sanjay Malhotra, responded to President Trump's comments labeling India as a "dying economy," asserting that India's contribution to global economic growth exceeds that of the United States, with India at approximately 18% compared to the U.S. at around 11% [1][3]. Economic Growth Projections - The International Monetary Fund (IMF) forecasts India's economic growth rate for the fiscal year 2025-2026 at 6.4%, significantly higher than the U.S. growth rate of 1.9% during the same period [3]. Trade Relations and Tariffs - President Trump announced a 25% tariff on Indian goods starting August 1, citing India's high tariffs as a barrier to trade, while also referring to India as a "dying economy" [6]. - In 2024, the trade volume between the U.S. and India is projected to be approximately $128.8 billion, with India maintaining a trade surplus of $45.8 billion with the U.S. [7]. Political Responses - Indian Prime Minister Modi emphasized India's ambition to become the world's third-largest economy and encouraged citizens to support local products, indirectly responding to Trump's remarks [6]. - The Indian Ministry of External Affairs criticized U.S. accusations regarding India's trade with Russia, asserting that such criticisms lack justification and reaffirming India's commitment to protecting its national interests [6].

Core Viewpoint - The Indian economy is positioned as a strong contributor to global growth, surpassing the United States, despite recent critical remarks from former President Trump labeling it a "dying economy" [1][3]. Group 1: Economic Contributions - The Reserve Bank of India Governor, Sanjay Malhotra, stated that India's contribution to global economic growth is approximately 18%, which is higher than the United States' estimated contribution of around 11% [1][3]. - The International Monetary Fund (IMF) projects India's economic growth rate for the fiscal year 2025-2026 to be 6.4%, compared to the United States' forecast of 1.9% [3]. Group 2: Trade Relations and Responses - Following Trump's announcement of a 25% tariff on Indian goods starting August 1, Modi urged citizens to support local products to mitigate economic impacts amid global uncertainties [3]. - Modi's statements are interpreted as an indirect response to Trump's comments about India's economic dependency on the U.S. market and its classification as a "dying economy" [3].