Congress MP Rahul Gandhi on Monday took potshots at Prime Minister Narendra Modi after the stock markets crashed over the tariff war initiated by Donald Trump, saying the US President had “blown the lid of the illusion”. Claiming the Prime Minister was “nowhere to be seen”, Gandhi argued that India would have to accept the reality that it had no choice but to build a production-based economy.
Reacting to the crash, Congress MP and Leader of Opposition Rahul Gandhi criticized Prime Minister Narendra Modi’s silence during the financial turbulence, attributing the market collapse to Trump’s aggressive economic stance.
“Trump has blown the lid off the illusion. Reality is biting back. PM Modi is nowhere to be seen,” Gandhi wrote on X.
He further urged a shift in economic strategy: “India has to accept reality. We have no choice but to build a resilient, production-based economy that works for all Indians.”
Trump’s tariff actions against China and other nations, including India, have disrupted investor confidence globally. Asian markets mirrored the meltdown, with Hong Kong’s Hang Seng plunging over 13%, Japan’s Nikkei 225 nearly 8%, and South Korea’s Kospi more than 5%.
European stocks also took a hit, sliding up to 6% amid fears of a prolonged trade war and economic slowdown.
In a separate statement from Patna, Gandhi reinforced his criticism: “The US president has led to a tumble in the stock market. Less than 1% of the people here have their money invested in the stock market, which means the stock market is not a field for you. Unlimited money is made in it, but you don’t get the benefit of it.”
With investor sentiment rattled and political leaders trading blame, questions loom over the future trajectory of Indian markets.
With inputs from PTI, ANI