India Should Accept Reality: Rahul Gandhi Says Trump Tariffs ‘Has Blown Lid of Illusion’

New Delhi: Congress MP and Leader of Opposition Rahul Gandhi took a dig at Prime Minister Narendra Modi on Monday as Indian stock markets crashed in response to US President Donald Trump ’s escalating global tariff war. 

Gandhi, in a post on social media platform X, blamed both Trump’s trade policies and the Indian government's economic handling, stating, “Trump has blown the lid off the illusion. Reality is biting back. PM Modi is nowhere to be seen.”

The Congress leader said, “India has to accept reality. We have no choice but to build a resilient, production-based economy that works for all Indians,” he said.

Gandhi's remarks come as Trump’s aggressive trade measures particularly his tariffs on China and reciprocal duties on countries including India have rattled global markets. 

Sensex and Nifty Plunge in Sharpest Decline in Months

The Indian stock market bore the brunt of the global turmoil, with the BSE Sensex crashing 2,226.79 points or 2.95% to close at 73,137.90. Intra-day, it sank as much as 3,939.68 points or 5.22%, hitting a low of 71,425.01.  

The NSE Nifty mirrored the slump, falling 742.85 points or 3.24% to end at 22,161.60, after touching a low of 21,743.65—down 5.06%.

The panic wasn’t limited to India. Major Asian indices suffered major losses, with Hong Kong’s Hang Seng plummeting over 13%, Japan’s Nikkei 225 falling nearly 8%, China’s SSE Composite sliding more than 7%, and South Korea’s Kospi dropping over 5%. European markets also faced heavy selling pressure, with declines of up to 6% being recorded in key indices.