Expressing concern over the stock market crash following US President Donald Trump’s imposition of tariffs, the Congress party on Monday questioned the Modi government’s “conspicuous silence” on addressing the fallout of the ongoing trade war.
In a video message on X, Congress spokesperson Supriya Shrinate said, “Indian stock markets opened at the lowest level since Covid happened in 2020.”
She said, “Within the first five minutes, 19 lakh crore worth of market cap had been eroded. Helpless investors have nowhere to turn to Mr Modi and Mr Shah, who were openly advocating and giving stock market tips, are mum”.
She claimed that the tariff imposed by President Trump on India will devastate the country’s economy and job creation.
She said, “Countries all over the world, including China, EU, France, Spain, Britain, Brazil, Canada and Australia, have spoken against this tariff and have even promised help for their industries and companies that will be at the receiving end of the tariff imposed. But no such word of assurance, no word of protest from the Indian government.”
“Mr. Modi, staying conspicuously silent is no longer an option,” she added.
Meanwhile, party general secretary Jairam Ramesh on his social media handle X mocked the “friendship” between Prime Minister Narendra Modi and US President Donald Trump, remarking, “It is no wonder that Mr. Modi and Mr. Trump describe themselves as good friends. Both are experts in giving their economies self-inflicted wounds.”
“Nov 8, 2016 was demonetisation. April 2, 2025 was the bizarre reciprocal tariffs. Markets are reacting predictably in a tariffying manner,” he said.
