Fact Check: Was a Financial Emergency Declared in India Due to Donald Trump’s 25% Tariff?

A false claim circulating on Pakistani social media alleges that India has declared a financial emergency following a $60 billion market wipeout due to a 25% tariff announced by Donald Trump. This article examines the truth behind these claims. The PIB Fact Check team has debunked the assertion, confirming that no financial emergency has been declared. The backdrop involves comments from Trump and Commerce Minister Piyush Goyal regarding India’s economic standing and trade relations. Trump’s statements on Truth Social indicated the tariff was a response to India’s trade with Russia. Goyal has emphasized India’s strong economic growth and its rise in the global rankings. The Ministry of Commerce and Industry is in discussions with stakeholders to assess the situation. Trump’s announcement of the tariff has been perceived by experts as a negotiation tactic.