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‘Rely on data’: Nirmala Sitharaman counters Trump's ‘dead economy’ remark in Lok Sabha
Nirmala Sitharaman said India is the fastest-growing major economy, which grew at 8.2 per cent in the September quarter.
Finance minister Nirmala Sitharaman on Monday made an indirect reference to US President Donald Trump during her speech in the Lok Sabha, as she outlined India’s economic performance and pushed back against Opposition criticism.
Responding to demands from Opposition members for her reaction to Trump’s earlier remark describing India as a “dead economy,” Sitharaman said assessments of the country’s economic health should be based on credible data rather than individual comments, regardless of who makes them.
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“So somebody said something somewhere, however important that somebody is, we should not depend on that but rely on data available within the country and also data coming from elsewhere. Rely on data,” she said in the House.
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Trump had, in July, termed India a “dead economy” while expressing dissatisfaction with New Delhi’s decision to continue purchasing oil from Russia. Sitharaman, without naming him, highlighted key indicators and milestones to underline what she described as India’s sustained economic growth over the years.
'Can a dead economy grow at 8.2 per cent?'
She cited India’s 8.2 per cent economic growth and sovereign rating upgrades by global agencies to argue that such developments would not be possible if the country were a “dead economy.” Sitharaman said India remains the fastest-growing major economy, recording an 8.2 per cent expansion in the September quarter.
The finance minister said that over the past decade, the Indian economy has transitioned from a phase of “external vulnerability to external resilience.”
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“Every institution is raising our growth outlook for this year and the forthcoming year. There are clear expressions from the IMF recognising India’s growth, and no dead economy gets a credit rating upgrade by DBRS, S&P and R&I,” Sitharaman said while replying to the Supplementary Demands for Grants for 2025–26 in the Lok Sabha.
Questioning the Opposition’s narrative, she asked, “Can a dead economy grow at 8.2 per cent? Can a dead economy get credit rating upgrades?”
The Reserve Bank of India last week revised its GDP growth projection for FY26 upward to 7.3 per cent from an earlier estimate of 6.8 per cent. India posted growth of 8.2 per cent in the September quarter and 7.8 per cent in the June quarter.
Sitharaman also highlighted the expansion of manufacturing, noting that the number of mobile phone manufacturing units in India has risen from just two in 2014–15 to about 300 in 2024–25.
She further told the House that India has emerged as a net exporter in key sectors such as electronics, pharmaceuticals, engineering goods and defence. “When you are a net exporter, you are exporting more than what you are importing,” she said
