No Indian company in world's top 100, Congress and SP target Centre over state of economy

With no Indian company currently features among the world's top 100 firms, the Congress on Tuesday launched a fresh attack on the Centre's economic policies, alleging that foreign investor confidence in Indian markets has weakened and warning of adverse consequences for jobs and business activity.

The criticism was echoed by the SP (Samajwadi Party), which accused the government of pursuing policies that had damaged manufacturing, investment and economic growth.

In a post on X, the Congress said that no Indian company now figured among the world's top 100 companies and claimed that foreign investors were increasingly withdrawing money from the Indian stock market.

“Indian stock markets have lost the confidence of foreign investors. Large foreign investors are pulling money out of the Indian market,” the party said.

The Congress alleged that declining investor confidence reflected a lack of faith in the Narendra Modi government's economic management and described the trend as a worrying development for the country's economy.

The party further claimed that if the situation continued, unemployment could worsen significantly, companies could face mounting financial stress and employment opportunities could shrink.

The Congress also criticised the Centre's economic and foreign policy decisions, alleging that timely intervention could have prevented the current situation.

“Narendra Modi has caused immense damage to India and the Indian economy,” the party alleged in the social media post.

The government had not immediately responded to the allegations.

Akhilesh Yadav joins criticism

SP president and former Uttar Pradesh chief minister Akhilesh Yadav also targeted the Centre over economic issues, alleging that corruption and commission-based practices had weakened businesses across sectors.

In a post on X, Yadav claimed that the government's policies had adversely affected agriculture, manufacturing and industrial production, resulting in difficulties for a wide range of sectors, including banking, insurance, information technology, transportation, textiles, healthcare, consumer goods and services.

“This is the adverse impact of the BJP's corrupt economic policies,” Yadav alleged.

He further claimed that small traders and local businesses had suffered because of changing market conditions and what he described as policy failures. According to Yadav, jewellers, medical shops, grocery stores and other small enterprises had faced increasing challenges in recent years.

The SP leader alleged that rising inflation had reduced consumer demand, contributing to an economic slowdown, lower production and job losses.

Opposition raises concerns over employment, inflation

Yadav also claimed that unemployment had increased sharply over the past decade and alleged that insufficient recruitment to government jobs had compounded the problem.

According to him, inflation, higher fuel prices and rising input costs had increased the cost of goods and services, placing additional pressure on households and businesses.

He further alleged that India's exports had suffered because of shortcomings in foreign policy and claimed that economic management had weakened the country's overall financial position.

The SP leader also criticised the implementation of GST (Goods and Services Tax), alleging corruption and administrative inefficiencies.

The remarks by the Congress and the SP come amid continuing political debate over employment generation, inflation, manufacturing growth and foreign investment trends.

The Centre has repeatedly maintained that India remains one of the fastest-growing major economies in the world and has highlighted infrastructure development, manufacturing incentives, digitalisation initiatives and welfare programmes as key drivers of economic growth.

However, opposition parties have continued to question the government's economic record, arguing that growth has not translated into adequate employment opportunities and improved household incomes.

The government had not issued an immediate response to the latest allegations made by the Congress and the SP.