Piyush Goyal Defends Trade Decisions Against Trump’s Remarks

In a striking rebuttal to US President Donald Trump’s recent remarks calling India a “dead economy,” Union Minister Piyush Goyal delivered a powerful statement in Parliament during the ongoing Monsoon Session, asserting that India will soon become the third largest economy in the world.

Without directly naming Trump, Goyal’s remarks were seen as a clear response to the former US President’s social media tirade earlier in the day, where he criticized India’s trade policies and its growing ties with Russia. Speaking with conviction, Goyal declared, “India has moved from being the world’s 11th largest economy to the 5th largest in just a few years, and we are not stopping here. Soon, we will become the third-largest economy in the world.”

Piyush Goyal: From Fragile to Frontline

Goyal highlighted the transformative journey of India’s economic landscape. “Within just a decade, India has gone from being one of the ‘Fragile Five’ economies to one of the strongest and most dynamic economic powerhouses globally,” he said, drawing attention to the reforms and resilience that have propelled the country forward.

Citing the contributions of farmers, MSMEs, and entrepreneurs, Goyal credited the people of India for this remarkable growth. “It is the hard work of our citizens that has led to this surge. We are now the fastest growing major economy on the planet,” he emphasized, reinforcing India’s position as a leading global economic force.

What Sparked the Clash?

Earlier in the day, President Trump posted on his platform Truth Social, blasting India for its high tariffs and extensive trade with Russia. “I don’t care what India does with Russia. They can take their dead economies down together. Their tariffs are among the highest in the world,” Trump wrote, adding, “We have done very little business with India… All things not good!”

In a surprise announcement, Trump revealed a 25% tariff on all Indian imports, effective August 1. Additionally, a penalty was declared for India’s continued purchase of Russian crude oil and defense equipment—making India the first country to be sanctioned for its Russian imports.

Piyush Goyal: A Targeted Move?

The timing of Trump’s announcement has raised eyebrows. Just a day prior, Indian officials had revealed that a high-level US trade delegation was set to visit New Delhi later in August to explore a potential trade agreement. The sudden imposition of tariffs is being widely interpreted as a strong-arm tactic to coerce India into compliance with Washington’s strategic and economic demands.

Trump further claimed that India’s trade barriers are “the most strenuous and obnoxious in the world,” and accused New Delhi of making “significant” purchases from Russia, especially in defense and energy sectors.

India’s Strategic Choices

India’s oil imports from Russia have increased dramatically—from a mere 0.2% before the Ukraine conflict to nearly 40% today. With China and India now being the two largest buyers of Russian crude, New Delhi’s stance has drawn growing international scrutiny, particularly from the West.

However, Indian policymakers have repeatedly maintained that their foreign policy and trade decisions are guided by national interest. Goyal reinforced this sentiment in Parliament, stating, “India does not take orders—we make sovereign decisions that best serve our people.”

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