Amid a flurry of misleading social media posts, the Indian government's official fact-checking unit has dismissed rumours suggesting a financial emergency has been declared in the country. The false claim emerged in the wake of US President Donald Trump's recent announcement of a 25% tariff on Indian goods.
According to a clarification issued by the Press Information Bureau’s Fact Check unit, the viral claim — allegedly initiated by a Pakistani propaganda account — falsely stated that India had slipped into a state of financial emergency after suffering market losses worth $60 billion due to the US tariff move.
The government, in a statement released on Friday, categorically denied the assertion, labeling it as “entirely baseless and fabricated.” The PIB Fact Check clarified that no such emergency has been declared, and India’s financial and constitutional operations remain unaffected.
The misleading post, circulated widely by non-official accounts, claimed that the emergency was declared in response to economic turmoil triggered by the new US import duty, which is scheduled to take effect on August 1.
A Pakistani propaganda account is claiming that a financial emergency has been declared in India following a $60 billion market wipeout due to a 25% tariff announced by Donald Trump.#PIBFactCheck ❌This claim is #Fake ✅ No financial emergency has been declared in India… pic.twitter.com/cJRp1GeeA1— PIB Fact Check (@PIBFactCheck) July 31, 2025
Responding to the viral misinformation, PIB Fact Check wrote on X (formerly Twitter):
“A Pakistani propaganda account is claiming that a financial emergency has been declared in India following a $60 billion market wipeout due to a 25% tariff announced by Donald Trump. This claim is fake.”
The government reiterated that India’s economy remains stable and resilient, urging citizens not to fall for misinformation circulating online.
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