FM tears into Trump’s “dead economy” jibe, says India growing fast and on course to Viksit Bharat goal

Tearing into the “dead economy” jibe of US President Donald Trump against India, finance minister Nirmala Sitharaman today said India is moving fast on multiple economic parameters and it is able to stand up, speak and defend itself globally because of its strong macro-economic fundamentals. FM said India is on course to the Viksit Bharat goal by 2047.

“All of us should believe in ourselves and in our economy. Internationally, when people bully us, we have to have our numbers before us. And we, as Indians, who are contributing to the economy should have the faith that we are achieving these goals ourselves and not get swayed by those who say your economy is not up to it,” Sitharaman said during a lecture at the Delhi School of Economics today.

Referring to India specific comments made by Trump almost two months back when the US administration imposed penal tariffs on India for purchasing crude oil from Russia, Sitharaman said people from outside may taunt us but we need not decry our own efforts.  

“Who can tell this population of 140 crore people, who are pushing from tenth to fifth to third largest economy soon, that you are dead. So, it is all right for people to taunt us from outside, but within the country we should not decry what the people of the country are achieving,” said Sitharaman.

“We are in a time when India is moving fast on so many different parameters. Largely they are all economic. Of course with its population and geographic location in the global map India has strategic significance. But India is standing distinctly on its feet is because of its economic strength,” she said.

“I am not saying we have become developed. Viksit Bharat is ahead of us, but we are on course. We are now able to stand and say that our economy is strong enough, and why I am wrong if I am able to protect my interest. We are able to articulate all this because of the strength of our economy,” she added.  

FM said India has other strengths as well such as strong defence force, young population, innovation, startups, and IT sector. “But everything put together, what is making us literally stand out is the fast movement from tenth largest economy in 2014 to fifth, fourth and now sooner the third largest economy. And that is the strength with which India can make sure it can speak and stand for itself and defend itself in the global world,” she said.

“Unless ones macroeconomic fundamentals are sound and strong, one would never be able to stand up and speak. We are doing remarkably well in pushing the economy further and further. And that is why as a country we were able to get out 25 million people out of multi-dimensional poverty. It is our own people’s contribution. Let us not be pessimistic,” she added.