"Economy is resilient": BJP leaders counter Rahul Gandhi's 'dead economy' post
These affirmations come after Congress leader Rahul Gandhi in a X post on Thursday echoed US President Donald Trump's view that the Indian economy was 'dead', and targeted Prime Minister Narendra Modi.
The Maharashtra Chief Minister attached the latest IMF World Economic Outlook report, wherein it projected India's growth in 2025 and 2026 at 6.4 per cent -- the highest among the fastest major economies.
The IMF report pegged the US's growth at 1.9 per cent and 2.0 per cent, respectively. For China, the rates were pegged at 4.8 per cent and 4.2 per cent, respectively.
Fadnavis attributed this projected economic growth to the 'visionary leadership' of Prime Minister Narendra Modi.
'Under the visionary leadership of Hon PM Narendra Modi Ji, India continues its steady and resilient economic growth, earning global recognition among emerging market and developing economies,' he wrote on X.
'These projections place India among the top emerging market and developing economies with consistent performance over the years,' he added, referring to the latest IMF projections. 'This is the result of focused governance, structural reforms and unwavering commitment to a Viksit Bharat.'
On similar lines, attaching the same IMF report, Union Minister Hardeep Puri also lauded the country's growth journey.
'India is at the forefront of the global economy! Despite uncertainties prevailing worldwide, India will remain the fastest-growing economy. These figures are a strong response to those who lack faith in India's capabilities. This pace indicates that India will soon further strengthen its position among the world's leading economic powers,' Minister Puri wrote on X, in Hindi.
Assam Chief Minister Himanta Biswa Sarma had also earlier this week shared the same IMF report to affirm that India's economy was set to 'grow as a robust economy and is poised to be the fastest growing emerging market in 2025 and 2026 as well.'
In September 2022, India had surpassed the UK to become the fifth-largest economy in the world.
India has made quite a turnaround, climbing the ladder of economic growth. This can be gauged from the fact that it was ranked 11th in 2013-14, and India has now positioned itself to become the fourth-largest economy soon.
In 2013, India was placed in the league of 'Fragile 5' economies. The term 'Fragile 5' was coined by a Morgan Stanley analyst and refers to a set of five emerging countries, including India, whose economies were not doing well. The other four countries were Brazil, Indonesia, South Africa, and Turkey.
To realise the vision of 'Viksit Bharat' or a developed nation dream by 2047, India will need to achieve a growth rate of around 8 per cent at constant prices, on average, for about a decade or two, the Economic Survey document for 2024-25 tabled on January 31 asserted.
On expected lines, the Indian economy grew by 6.5 per cent in real terms in the recently concluded financial year 2024-25. In 2023-24, India's GDP grew by an impressive 9.2 per cent, continuing to be the fastest-growing major economy.
According to official data, the economy grew 8.7 per cent and 7.2 per cent, respectively, in 2021-22 and 2022-23. (ANI)
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Canada News.Net
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"America is pushing India towards Russia and China": Foreign affairs expert Subhash Goyal
New Delhi [India], August 6 (ANI): Foreign affairs expert Subhash Goyal has criticised US President Donald Trump's decision to impose an additional 25 per cent tariff on India over its purchase of Russian oil, warning that the move will damage trade ties and hurt both Indian and American consumers. 'Look, India and Russia have a very old relationship. And Russia is a trusted friend of ours. If we're importing oil from Russia, the reason for that is that we have to look at our oil security in our agriculture sector and transport sector. And it is not that we are doing it only through Russia, but we are doing it from 10-15 countries. And the European Union is also doing it through Russia in a large number, but all the sanctions are being imposed on India,' Goyal told ANI. 'So, I don't understand what the strategy is, but this will cause a lot of loss to our exports. Our exports are more than $100 billion, and our exports will be reduced by at least $30-40 billion. And the sectors like electronics or steel, which already account for 50% of our exports, will not be affected so much. Or if they are excluding pharmaceuticals, then it will not be affected so much. But still, our neighbouring countries like Bangladesh, Sri Lanka and Vietnam will be subject to 10% tariffs. Singapore also has a 10% tariff. So, either our exporters will have to route through there. And more than us, the American industry and the American consumers will be more affected,' he added. Goyal stressed that the US depends significantly on Indian goods and services, including in the technology sector. 'Because, look, today there are medicines and other things which a lot of industry depends on Indian goods. Our software industry, all their technology, at this time, 30-50% are of Indian origin. Whether it is Microsoft, Google, Apple, or any big company, they have a lot of software development and manufacturing units in India. So, what will happen with this is that America is pushing India towards Russia and China,' he said. Highlighting the geopolitical implications, he added, 'Because, in Asia-Pacific, India was a partner of America, which was a balance, which was reducing China's influence in Asia-Pacific. So, India was countering it. So, for so many years, American diplomacy has increased relations with India, joint military exercises have taken place. So, all those things will go on the back burner. And I think that American consumers will start protesting.' Citing the impact on tourism and bilateral relations, Goyal said, 'Because, look, now the tourists in America -- first the tourists from Canada used to come. First they upset Canada, so the tourists from Canada stopped coming. They upset Europe a lot, so the tourists from the European Union stopped coming. And because of the war in Europe, the condition of America is a bit worse. So, the tourists from India will also stop coming. Because India's visa is waiting for a year. And Indian tourists will also go there, because businessmen combine tourism and business.' On the trade front, he said, 'And if there is no business in America, they say that necessity is the mother of invention. So, we will have to find new markets. There are markets in South America, Africa, Japan, Australia, Asian countries. And we will have to increase our trade with China and Russia. So, we have just signed a favourable trade agreement with the UK. So, I think this geopolitical situation is changing the world. And in this, India will definitely lose exports. But more than us, America and America's goodwill are losing.' He added, 'Look, there will be a short-term difference in tariffs. But in the long term, our products are good. We will get more markets. And there are more than 200 countries in the world. America is only one country. Okay, America's economy is our largest importer, but this does not mean that we will be completely dependent on America.' Criticising Washington's trade policy, Goyal said, 'America is kicking its feet because America's influence in the world is decreasing with tariffs. Now, in retaliation, we will also impose tariffs on American products. So, this is a trade war. Trump is starting tariffs all over the world. And this is not good for international trade and peace in the world. So, I pray to God that good sense will prevail. And now, there is going to be a delegation from America for trade negotiations. And I hope that in those trade negotiations, mutually beneficial tariffs will be decided.' Echoing criticism of the move, the Ministry of External Affairs (MEA) on Wednesday termed the United States' decision to impose additional tariffs on India over its oil imports from Russia as 'unfair, unjustified and unreasonable,' asserting that New Delhi will take 'all actions necessary to protect its national interests.' In an official statement, the MEA said, 'The United States has in recent days targeted India's oil imports from Russia. We have already made clear our position on these issues, including the fact that our imports are based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India.' 'It is therefore extremely unfortunate that the US should choose to impose additional tariffs on India for actions that several other countries are also taking in their own national interest,' the statement added. 'We reiterate that these actions are unfair, unjustified and unreasonable. India will take all actions necessary to protect its national interests,' the MEA stressed. This came after US President Donald Trump on Wednesday signed an Executive Order imposing an additional 25 per cent tariff on imports from India. According to the order issued by the White House, Trump cited matters of national security and foreign policy concerns, as well as other relevant trade laws, for the increase, claiming that India's imports of Russian oil, directly or indirectly, pose an 'unusual and extraordinary threat' to the United States. After the order, the total tariff on Indian goods will be 50 per cent. While the initial duty becomes effective on August 7, the additional levy will come into effect after 21 days and will be imposed on all Indian goods imported into the US, except for goods already in transit or those meeting specific exemptions. The Executive Order also allows for modifications based on changing circumstances, including potential retaliation by other countries or steps taken by Russia or India to address the national emergency. 'Accordingly, and as consistent with applicable law, articles of India imported into the customs territory of the United States shall be subject to an additional ad valorem rate of duty of 25 per cent,' the order stated. 'This rate of duty shall be effective with respect to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern daylight time 21 days after the date of this order, except for goods that (1) were loaded onto a vessel at the port of loading and in transit on the final mode of transit prior to entry into the United States before 12:01 a.m. eastern daylight time 21 days after the date of this order,' the order added. (ANI)
Global News
2 hours ago
- Global News
Trump admin set to restore, reinstall Confederate statue burned in 2020 protest
The National Park Service announced Monday that it will restore and reinstall a statue of Albert Pike, a Confederate general, that was toppled and set on fire on Juneteenth, the day marking the end of slavery in the United States, in 2020. The statue will be restored and replaced by October in line with U.S. President Donald Trump's pushback on recent efforts to reframe America's historical narrative. 'The restoration aligns with federal responsibilities under historic preservation law as well as recent executive orders to beautify the nation's capital and re-instate pre-existing statues,' the National Park Service said in a news release. Pike's statue will resume its previous position in Washington's Judiciary Square, a few blocks from the U.S. Capitol. It was the only outdoor statue of a Confederate military leader in the nation's capital. Story continues below advertisement 'Originally authorized by Congress in 1898 and dedicated in 1901, the statue honors Pike's leadership in Freemasonry, including his 32 years as Sovereign Grand Commander of the Ancient Rite of Scottish Freemasonry,' the National Park Service added. 'The statue has been in secure storage since its removal and is currently undergoing restoration by the National Park Service's Historic Preservation Training Center.' Site preparation to repair the statue's damaged masonry plinth will begin shortly, 'with crews repairing broken stone, mortar joints and mounting elements.' Cheering demonstrators jumped up and down as the 3.4-metre statue of Pike — wrapped with chains — wobbled on its high granite pedestal before falling backward, landing in a pile of dust on June 19 in 2020, as part of mass protests following the death of George Floyd at the hands of Minneapolis police. Protesters then set a bonfire and stood around it in a circle as the statue burned, chanting, 'No justice, no peace!' and 'No racist police!' Story continues below advertisement Trump quickly posted about the toppling on X (then Twitter) in 2020, calling out D.C. Mayor Muriel Bowser and writing: 'The DC police are not doing their job as they watched a statue be ripped down and burn. These people should be immediately arrested. A disgrace to our Country!' View image in full screen The only statue of a Confederate general, Albert Pike, in the nation's capital, appears on the ground after it was toppled by protesters and set on fire in Washington on June 20, 2020. Maya Alleruzzo / The Associated Press Confederate statues around the United States were toppled in similar protests, while several military bases named for Confederate leaders were renamed. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy The Pike statue has been a source of controversy over the years. The former Confederate general was also a longtime influential leader of the Freemasons. Pike's body is interred at the D.C. headquarters of the Scottish Rite of Freemasonry, which also contains a small museum in his honour. The statue was built at the request of masons who successfully lobbied Congress to grant them land for the statue as long as Pike would be depicted in civilian, not military, clothing. Story continues below advertisement Congresswoman Eleanor Holmes Norton called the move by the National Park Service 'odd and indefensible' in a statement Monday. 'Pike served dishonorably, misappropriated funds, and was ultimately imprisoned by his fellow troops,' she wrote. Norton said she would introduce legislation to remove the statue permanently and place it in a museum. 'I've long believed Confederate statues should be placed in museums as historical artifacts,' she said, 'not remain in parks and locations that imply honor.' NPS' decision to restore and reinstall the statue of Confederate Albert Pike is indefensible. Pike served dishonorably, misappropriated funds, and was ultimately imprisoned by his fellow troops. I'll reintroduce my bill to remove the statue. More: — Eleanor #DCStatehood Holmes Norton (@EleanorNorton) August 4, 2025 On Tuesday, Defense Secretary Pete Hegseth announced that another statue commemorating the Confederacy would also be returned to Arlington National Cemetery. The statue, which Hegseth referred to as 'The Reconciliation Monument,' was removed in 2023. Story continues below advertisement Hegseth said the Arlington statue 'never should have been taken down by woke lemmings. Unlike the Left, we don't believe in erasing American history — we honor it.' I'm proud to announce that Moses Ezekiel's beautiful and historic sculpture — often referred to as 'The Reconciliation Monument' — will be rightfully be returned to Arlington National Cemetery near his burial site. It never should have been taken down by woke lemmings. Unlike… — Secretary of Defense Pete Hegseth (@SecDef) August 5, 2025 In 2022, an independent commission recommended that the memorial be taken down as part of its final report to Congress on the renaming of military bases and assets that commemorate the Confederacy. The statue, unveiled in 1914, features a bronze woman, crowned with olive leaves, standing on a 32-foot pedestal, and was designed to represent the U.S. South. Some of the figures on the statue include a Black woman depicted as 'Mammy' holding what is said to be the child of a white officer and an enslaved man following his owner to war. Story continues below advertisement View image in full screen An enslaved woman depicted as a 'Mammy' on the Confederate Memorial at Arlington National Cemetery on Dec. 15, 2023, in Arlington, Va. Bonnie Jo Mount/The Washington Post via Getty Images Trump issued an executive order entitled 'Restoring Truth and Sanity to American History' in March. It decried post-Floyd efforts to reinterpret American history, stating, 'rather than fostering unity and a deeper understanding of our shared past, the widespread effort to rewrite history deepens societal divides and fosters a sense of national shame.' 0:36 George Floyd protests: Demonstrators throw statue of Christopher Columbus into a lake in Richmond The order targeted the Smithsonian network of museums as having 'come under the influence of a divisive, race-centered ideology.' It also instructed the Interior Department to restore any statue or display that was 'removed or changed to perpetuate a false reconstruction of American history, inappropriately minimize the value of certain historical events or figures, or include any other improper partisan ideology.' Story continues below advertisement — With files from The Associated Press
Winnipeg Free Press
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Trump will highlight Apple's plans to invest $100 billion more in US, raising total to $600 billion
WASHINGTON (AP) — President Donald Trump on Wednesday is expected to celebrate at the White House a commitment by Apple to increase its U.S. investments by an additional $100 billion over the next four years. 'Today's announcement with Apple is another win for our manufacturing industry that will simultaneously help reshore the production of critical components to protect America's economic and national security,' White House spokeswoman Taylor Rogers said. Apple had previously said it intended to invest $500 billion domestically, a figure it will now increase to $600 billion. Trump in recent months has criticized the tech company and its CEO, Tim Cook, for efforts to shift iPhone production to India to avoid the tariffs his Republican administration had planned for China. While in Qatar earlier this year, Trump said there was 'a little problem' with Apple and recalled a conversation with Cook in which he said he told the CEO, 'I don't want you building in India.' India has incurred Trump's wrath, as the president signed an order Wednesday to put an additional 25% tariff on the world's most populous country for its use of Russian oil. The new import taxes to be imposed in 21 days could put the combined tariffs on Indian goods at 50%. As part of the Apple announcement, the investments will be about bringing more of its supply chain and advanced manufacturing to the U.S. Apple Inc., which is based in Cupertino, California, didn't immediately comment Wednesday. Bloomberg News first reported the announcement of Apple's additional investment commitment.
