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

With India no longer featuring a single company among the world's top 100 firms, the Congress on Tuesday launched a sharp attack on the Narendra Modi government, alleging that foreign investors were losing faith in Indian markets and warning that continued economic weakness could deepen unemployment and hurt businesses across sectors.

In a post on X, the party said the absence of any Indian company from the global top 100 reflected what it described as the impact of the Centre's economic policies. The Congress alleged that major foreign investors were withdrawing money from Indian markets and claimed that confidence in the government's economic management had weakened.

Describing the development as “very bad news” for the economy, the party warned that if current trends continued, unemployment could worsen, companies could face mounting losses and job opportunities could decline further.

“Foreign investors have lost faith in the Indian stock market. Major foreign investors are pulling money out of the Indian market. Investors no longer trust the Modi government,” the Congress said in the post.

The party further alleged that economic and foreign policy failures had contributed to the situation and claimed that timely intervention by the government could have prevented the deterioration.

“India no longer has a single company in the world's top 100 companies,” it said, adding that the country's economic challenges reflected deeper policy shortcomings.

The government had not immediately responded to the allegations.

SP joins Opposition attack

SP president and former Uttar Pradesh chief minister Akhilesh Yadav also criticised the government's economic policies, alleging that corruption and commission-based practices had weakened businesses and affected production across multiple sectors.

In a post on X, Yadav claimed that agriculture, manufacturing and industrial activity had suffered, adversely impacting sectors ranging from banking and insurance to information technology, transportation, textiles, healthcare and consumer goods.

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

He further claimed that inflation had reduced market demand, leading to slower production and job losses, while unemployment had risen sharply over the past decade.

Yadav also alleged that insufficient government recruitment, rising fuel prices and weaknesses in foreign policy had compounded economic challenges. He criticised the implementation of GST (Goods and Services Tax), alleging corruption and administrative inefficiencies.

Political sparring over economy

The remarks come amid continuing political debate over employment generation, inflation, manufacturing growth and investment trends.

While opposition parties have accused the government of failing to generate sufficient jobs and strengthen domestic industry, the Centre has repeatedly maintained that India remains one of the fastest-growing major economies in the world and has highlighted infrastructure expansion, manufacturing incentives, digitalisation initiatives and welfare programmes as key drivers of growth.

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