Former NITI Aayog CEO Amitabh Kant said on Friday (July 08, 2025) that India is not ‘dead economy’, but is the fastest moving economy in the world and is moving towards becoming the third largest economy.

Former CEO Amitabh Kant reacted a strong reaction to US President Donald Trump calling India a dead economy at the BT India summit. He said that whenever a crisis comes, India always helps. This is an opportunity when we can move forward by taking steps to eliminate existing rules, procedures and regulations.

The economy increased due to digitization and infrastructure

Amitabh Kant gave credit for the rapid growth of the Indian economy, digitization and growth in infrastructure, saying that India has digitized its economy in such a way that no country has yet done. We have implemented major reforms like GST (GST) and Loeling Disability Code (IBC).

He further said that there should be talk of electrification, collective housing or 88,000 km in the country. Like the construction of roads more than India, other countries have not yet developed such a large scale infrastructure.

India ahead in terms of fast payment

Regarding digital payment in India, former CEO Amitabh Kant said that 1.5 billion people are not digital identity in any other country of the world, we are also ahead in terms of fast payment. This gives great boost to development.

Let us know that US President Donald Trump has announced a 50 percent tariff on India, which is doubled from the 25 percent tariff declared last month. Trump wrote on his social media, ‘India is our friend, but his tariffs are the highest in the world. Their non-modern trade rules are also very strict. Also, India buys the most military equipment and energy from Russia, which is not good at this time.

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US President Donald Trump is giving threats to increase the tariff again on India. Trump said that India is helping Moscow in the Ukraine war by purchasing oil from Russia. Prior to the announcement of tariff on India, Trump called the Indian economy a dead economy, to which the Reserve Bank of India (RBI) governor Sanjay Malhotra has given him a response.

‘India’s contribution more than America’

RBI Governor Sanjay Malhotra said that the Indian economy is doing very well and is contributing more than America in the development of the world. According to the report of the news agency PTI, the RBI Governor said that we are contributing to about 18 per cent of the world’s development, which is more than the US that contributes about 11 per cent.

‘For us the interests of the citizens of the country are at the top’

Sanjay Malhotra said that India’s economy is expected to grow at a rate of 6.5 per cent in 2025, while the global growth rate is expected to be 3 per cent. The Governor of the Reserve Bank of India said on Wednesday (6 August 2025) that the interest and welfare of the citizens of the country is at the top for us. The citizens of the country, especially people standing on the lowest section of the society, are the root cause of our existence.

Sanjay Malhotra said that even if India is forced to buy oil from any other country other than Russia, our domestic inflation will not be affected. He also indicated that if needed, the government can give relief to the common people by cutting the fee.

He said, ‘The interest and welfare of the citizens of India is paramount in RBI. The people of India are the root cause of our existence with people standing at the lowest rung. Keeping this in mind, we are taking many steps in the interest of citizens.

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US President Donald Trump last week announced additional punitive action on imposing 25 per cent high tariffs on India and doing business with Russia, causing a stir all over the world. He also said that I do not care what India does with Russia. They can further drop their dead economy. The reaction of Canadian Business Tycoon Kirk Lubimov has come about Trump’s statement.

Testband company chairman Kirk Lubimov, while criticizing Turmp’s strategy on Twitter, wrote, ‘Trump is now taking the fastest growing economy in the world to fight with India. This is a big geopolitical mistake. Lubimov believes that the importance of India is not only economic, but also to balance China’s influence in the supply chain. He suggested Trump that he should cooperate with Canada and India instead of controlling India with nail-hills so that global resources can be balanced.

I’ve said it before, and i’ll say it again;

The biggest problem with Donald Trump’s Tariff approach is that it has zero consider to geopolitical strategy.

Trump is now picking a fight with India, one of the fastest growing economies in the world with prime minister, modi, modi,… pic.twitter.com/a0i7jnom6w

– kirk lubimov (@kirklubimov) August 2, 2025

Trump described India as a dead economy

Trump not only described India as a dead economy, but also severely criticized India’s high tariff policies. He alleged that India imposes the world’s highest tariff on American goods. America’s trade with India is limited due to tariffs and restrictions. India’s trade with Russia weakens the US ban policy. This stance came at a time when India has become the second largest buyer of crude oil from Russia. Earlier this part was less than 1%, which has now exceeded 35%.

India’s response- we grow fast economy

The Government of India immediately responded to this statement based on diplomatic and facts. Commerce and Industry Minister Piyush Goyal said in Parliament that India is now the fastest growing major economy in the world and is soon to become the third largest economy in the world. According to Goyal, India’s contribution to Global GDP is around 16%. The flexible economic policies and structural reforms of the country have made India a global growth engine.

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