Experts take a dig at Trump's 'dead economy' jibe

Economists and market experts have welcomed the latest GDP numbers. According to the data released by the Ministry of Statistics and Programme Implementation, real GDP for the April-June quarter of FY25-26 is estimated to have grown by 7.8%. This is higher than the growth rate of 6.5% recorded during the same quarter last fiscal. Here are some of the comments from experts posted on social media, regarding the first quarter’s GDP estimates for this fiscal year.

Union commerce minister Piyush Goyal wrote in a post on X, “India's strong 7.8% GDP growth in Q1 of FY 2025-26 is a fitting response to naysayers and pessimists like Rahul Gandhi.”

Speaking to PTI, Goyal added that the economic progress made by the country is a resounding response to pessimists’ who believe India is a dead economy.

“India is full of resilience, confidence…[and will] continue to be the fastest growing economy in the world for the next 22 years. We have huge opportunities all over the world and… our exports will continue to grow. We’ll do higher exports this year than last year,” he added.

He said that with strong domestic demand and the upcoming GST reforms, Indian industry will gain greater confidence, while international players and companies worldwide will be more inclined to expand their business with India.

In a post on X, economist and professor Shamika Ravi, who is also a member of the Economic Advisory Council to the PM, wrote, “India’s GDP growth beating expectations, again and again. “Dead”ly news for global growth.”

Meanwhile, market expert Nilesh Shah lauded the country’s performance, and emphasised on the role select sectors such as IT and Auto have played in supporting this growth.

“Q1 FY 26 GDP growth came way ahead of expectations at 7.8 % driven by government spending and consumption rebound. The number is remarkable as just three segments Cement, Sea Cargo and IIP capital goods showed higher growth than last year. What is remarkable is the journey over last 34 years between 1990 and 2024. While GDP is up ~ 12 times, there are sectors like IT, Auto, Railway Cargo, Air travel which has expanded massively,” he wrote in his post on X.

“Steel, Cement has grown in line with industrial economy growth Coal has constrained power production despite coal imports Tourism has been severely constrained by Hotel Rooms availability Agri production is way ahead of population growth resulting in overflowing granaries,” he added.

Taking a dig at U.S. president Donald Trump’s remarks on the Indian economy, Union minister Kiren Rijju wrote, “who is that person who said, ‘Indian Economy is a ‘Dead Economy’?”

Similarly, author and internet personality Anand Ranganathan praised the country’s economic performance, citing metrics such as GST collections, the manufacturing PMI, and the Sensex to support his point.

“Last year saw India's highest ever GST collection: $270 billion; highest ever vehicle sales: 25 million; highest ever Manufacturing PMI: 59.8; highest ever Forex reserves: $704 billion; highest ever Sensex: 85900. And now Q1 GDP zooms to 7.8%. Tell-tale signs of a dead economy,” he wrote.