Trump Mocks, India Roars Back: India 'Fastest-Growing' Economy, Not 'Dead'

(MENAFN- Live Mint) The Central government has hit back at United States President Donald Trump for his“dead economy” remark at India over its business ties with Russia, saying India is“fastest-growing” economy and would be the third largest in a few years.

Addressing the Lok Sabha, Union Minister of Commerce and Industry Piyush Goyal said India came out of the 'Fragile five' economies in less than a decade and became the fastest-growing economy in the world, in an apparent response to Donald Trump.

He said,“In less than a decade, India came out of 'Fragile Five' economies and it has now become the fastest-growing economy of the world. On the basis of the hardwork of reforms, farmers, MSMEs and industrialists, we have come in the top 5 economies of the world from the 11th largest economy.”

“It is expected that we would be the third largest economy in a few years. Today, global institutions and economists see India as a bright spot in the global economy,” he said.

TRUMP'S DEAD ECONOMY JIBE AT INDIA

The government's statement came hours after Donald Trump appeared to mock India for its ties with Russia, saying they can take their“dead economies down together .”

He said,“I don't care what India does with Russia. They can take their dead economies down together, for all I care. We have done very little business with India, their Tariffs are too high, among the highest in the World.”

“Likewise, Russia and the USA do almost no business together. Let's keep it that way, and tell Medvedev, the failed former President of Russia, who thinks he's still President, to watch his words. He's entering very dangerous territory!”

After Donald Trump slapped 25 per cent tariff on India on Wednesday, July 30, India responded to it and said New Delhi was“studying its implications” . India also said that New Delhi was taking steps“necessary to secure our national interest”.

India said the central government has taken note of the duty on bilateral trade and is“studying its implications”. India also said that it remains committed to“fair, balanced, mutually beneficial” trade agreement with the US.

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