The Aryavarth Express
Ahmedabad: Karnataka’s Deputy Chief Minister, DK Shivakumar, has urged Prime Minister Narendra Modi to take a firm stance on the recent fluctuations in the stock market, which have been caused by the Trump administration’s imposition of tariffs.
Shivakumar emphasised the need to protect the Indian industry and safeguard the market, highlighting the significant financial losses experienced by ordinary people. “PM Modi should take a clear stand on this issue. The Indian market needs protection, and he should convene an all-party meeting to discuss the matter,” said Shivakumar. “This is affecting the common people, as they are losing substantial amounts of money.”
The tariffs imposed by former U.S. President Donald Trump have caused ripples in global markets, leading to higher prices, reduced imports, and slower economic growth.
Congress MP Shashi Tharoor also weighed in on the issue, noting that the Trump administration’s tariffs have had a destabilising effect on the global economy. Tharoor pointed out that while India’s stock market has seen a decline of 3%, the U.S. market experienced a far more significant 9% drop. “It’s a dismaying situation. The tariffs have shaken the world economy and created numerous negative factors globally. Many countries are now facing fears of a recession,” Tharoor said.
He added that India’s main hope lies in negotiating a bilateral trade agreement with the United States to navigate these turbulent economic times. Tharoor also acknowledged that other countries, facing even higher tariffs, are now in the process of negotiating, further complicating the global trade landscape.
The situation remains unpredictable, and Indian leaders are hoping that effective diplomacy can help mitigate the impact of these tariff policies.
