NEW DELHI, 12 Apr: Though the world is on edge because of the tariffs imposed by US President Donald Trump, Indian economy remains self-reliant and will likely suffer minimal impact, the BJP said on Saturday.
Addressing a press conference at the party headquarters, BJP spokesperson Syed Zafar Islam also claimed that the Mudra Yojana greatly benefited the MSME sector.
“After President Trump’s tariffs, there is concern and uncertainty regarding the global economy across the world. Every country is worried about the impact of these tariffs and the direction in which the global economy will head – whether it will shrink or stagnate. Amidst all this, India is the only country that has emerged as a strong, stable, and self-reliant economy on the global stage,” he said.
“The impact on India will be extremely minimal. India will absorb this shock and use it as an opportunity to move forward. If you look at high-frequency data, it clearly shows the strength of the Indian economy – whether it’s strong capital expenditure or sustained growth momentum,” Islam said.
The spokesperson said ever since the BJP came to power in 2014, Prime Minister Narendra Modi has been working on an economic transformation.
“One of his first steps was launching the Jan Dhan Yojana to connect people with the banking system. Today, over 53 crore people are linked to this scheme, and around 70 percent of them are women.
“Following that, he introduced the Mudra Yojana, which has now become a global model for supporting small businesses and entrepreneurship,” he said.
Islam said that before 2014, the sector contributed around 15 percent to the economy.
“Today, that has risen to 20 percent. Notably, 50 percent of Mudra loan accounts are held by SC, ST, and OBC entrepreneurs, empowering those who were long kept on the margins,” he said. (PTI)