'Trump is going batshit insane': Capitalmind CEO trashes claim of ‘one-sided’ trade with India

Amid rising tensions over U.S. tariffs on Indian goods, Capitalmind CEO Deepak Shenoy criticized Donald Trump’s claim that trade with India has been a “one-sided disaster,” calling the former president’s argument both factually wrong and reckless.

“The US has a trade surplus with India in services,” Shenoy posted on X, pushing back against Trump’s claim that the U.S.-India trade relationship has been a “totally one-sided disaster.” “We just buy a lot more from China, just like America does,” he added.

Trump’s comments came shortly after Prime Minister Narendra Modi met with Chinese President Xi Jinping and Russian President Vladimir Putin, and days after the U.S. imposed a 50% tariff on Indian goods. “They sell us massive amounts of goods… but we sell them very little,” Trump said on Truth Social, calling the relationship “a totally one-sided disaster.”

Shenoy challenged that narrative, pointing out that India had shifted oil imports toward the U.S. once Washington lifted export restrictions. “We actually diverted a lot of oil purchases to the US after they removed some stupid rule,” he wrote.

He also explained India’s hesitance to buy U.S. military hardware: “We don’t buy American defense products much because they support Pakistan.”

Shenoy accused Trump of trying to inflame a relationship that has otherwise been seen as a strategic partnership. “Trump is alienating India,” he said. “And we really want to get to a situation where we don’t have to care.”

The tariff hike has triggered criticism even in Washington. Democrats on the House Foreign Affairs Committee slammed Trump for “hurting Americans and sabotaging the US-India relationship.”

Shenoy also flagged long-standing trade frictions originating in the U.S., including textile tariffs and non-tariff barriers like FDA rulings on Indian pharmaceutical companies. “The US has had a lot of tariffs… for ages,” he said.