As Indian stock markets face sharp declines due to rising global trade tensions, Karnataka Deputy Chief Minister and senior Congress leader DK Shivakumar has demanded a statement from Prime Minister Modi on the matter. Congress has also sought an all-party meeting to discuss the market turmoil triggered by the United States’ reciprocal tariffs.“The Honorable Prime Minister should come out with a clear stand, he should comment on this issue because the Indian market has to be protected,” said Karnataka Deputy Chief Minister DK Shivakumar, urging Prime Minister Narendra Modi to respond to the ongoing turmoil in the Indian stock market.
Shivakumar’s remarks come in the wake of global market volatility triggered by the reimposition of tariffs by US President Donald Trump. These tariffs, which have the potential to disrupt global trade, have led to sharp decline in stock markets across the world, including India.Highlighting this the Karnataka Deputy CM said, “The Prime Minister must break his silence and take immediate steps. This is not about politics. This is about protecting our economy and our people.”
All-Party Meeting Needed
The senior Congress leader has also urged the Prime Minister to discuss the tariff concerna with all parties. He added "He (PM) should call an all-party meeting to discuss on this issue, how to safeguard the Indian industry.”
Impact on Small Investors
“This is affecting a lot of common man, it is not individuals losing the share, there are small small people who have purchased shares and they are losing lot of money on this,” DK Shivakumar said.“There are small small investors, people who have invested their hard-earned money, and they are losing everything,” he added.
Call for Urgent Action
Talking about the likely impact of US tariffs on Indian businesses, the Karnataka Deputy CM said, “We have to safeguard the Indian industry. The Indian market has to be protected. The Indian investor has to be protected.”
