Trump Tariff War / Trump's wrath on India's rich, the bigwigs had to pay a heavy price

Trump Tariff War: The impact of Donald Trump's aggressive tariff policies has not been limited to the billionaires of China or Europe. Its echo is now clearly visible in the wealth of big industrialists around the world, including India. Since Trump's return in the year 2025, there has been an atmosphere of instability in global trade and concern among investors. This has had a direct impact on the Indian stock market and the wealth of the country's top industrialists.

Wealth of India's billionaires fell by $ 30.5 billion in 2025

Since the beginning of the year, the total wealth of India's leading industrialists has declined by about $ 30.5 billion (about Rs 2.6 lakh crore). This decline not only indicates a huge correction in the stock market, but also shows that India is not untouched by Trump's policies.

Which billionaire suffered how much loss?

Mukesh Ambani: The net worth of Ambani, India's richest man, has declined by $ 3.42 billion. Shares of Reliance Industries remained stable, but Jio Financial Services declined 24%, extending the losses.

Gautam Adani: Adani's wealth has declined by $6.05 billion. Major stocks like Adani Enterprises have declined by about 9%.

Shiv Nadar: HCL Technologies founder Shiv Nadar suffered the biggest decline of $10.5 billion this year. The slowdown in the IT sector and volatile behavior of investors were the main reasons behind this.

Savitri Jindal: Jindal Group Chairperson Savitri Jindal's wealth has declined by $2.4 billion.

Dilip Sanghvi: Pharma giant and founder of Sun Pharma has lost $3.34 billion this year. Regulatory pressure and competition in the pharmaceutical sector weakened the performance.

Azim Premji: Even though Premji is no longer actively involved in the business, Wipro's weak performance has affected his wealth.

Major reasons for the decline

Foreign investor selling: Due to high valuations, FIIs have distanced themselves from Indian stocks, due to which the market witnessed huge volatility.

Trump's tariff policy: Global trade tensions increased, which shook investor confidence and increased the risk in emerging markets like India.

Geopolitical uncertainty: Issues like Russia-Ukraine war, China-Taiwan dispute further deepened the volatility in global markets.

Domestic economic challenges: Sluggish industrial production, decline in rural demand and inflation affected India's growth.

Wide decline in stock market

• Sensex and Nifty: 4.5% decline so far.
• BSE Midcap: 14% decline.
• Smallcap index: 17% decline.

Way forward

India's GDP growth forecast for the financial year 2024-25 has come down to 6.6% from 7% earlier. However, analysts believe that if domestic demand improves, inflation is controlled and the government maintains policy stability, the markets could see a gradual recovery.