We are doing very well: RBI Governor Malhotra on Trump's ‘dead economy' jibe
'We have a very robust growth rate of 6.5 per cent. In fact, as per International Monetary Fund (IMF), it (India's growth) is 6.4 per cent, and 3 per cent growth rate for the world…we are contributing about 18 per cent (to global growth), which is more than the US, where the contribution is expected to be much lesser, I think about 11 per cent. We are doing very well and we will continue to further improve,' Malhotra said when asked for his comment on Trump's reference to the Indian economy as'dead'.
Last week, Trump wrote on his social media platform Truth Social that he did not care if India and Russia 'take their dead economies down together'. A day earlier, Trump slapped a 25 per cent tariff on India, along with an additional but unspecified 'penalty' for importing energy and defence goods from Russia, which was revealed to be another 25 per cent additional levy Wednesday.
Recently, the International Monetary Fund (IMF), in an update to its World Economic Outlook report, raised its gross domestic product (GDP) growth forecast for India to 6.4 per cent for both 2025-26 and 2026-27.
The IMF has projected the global GDP growth at 3 per cent in 2025 and 3.1 per cent in 2026, up from 2.8 per cent and 3 per cent, respectively, predicted in April.
In the policy announced on Wednesday, the RBI retained the real GDP growth for FY26 at 6.5 per cent, amid uncertainty on account of higher tariff by the US and geopolitical tensions.
Malhotra said Indian economy holds bright prospects in the changing world order drawing on its inherent strength, robust fundamentals, and comfortable buffers.
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