Big businesses are growing bigger but it’s not helping the economy grow: Congress

Targeting the Narendra Modi government over its handling of the economy, the Congress on Monday (July 7, 2025) said the industry’s share in GDP is shrinking, but big businesses are gaining strength.

In a post on X, Congress general secretary (communications) Jairam Ramesh accused the government of focusing on big businesses, saying that the growth of such business groups is not accelerating economic growth.

Mr. Ramesh claimed that concentration of resources is one of the main causes of inflation due to rising prices.

“While tall claims continue to be made by the PM and his drumbeaters on industrial growth, three facts are incontrovertible - Industry’s share in GDP has been declining, just as concentration in industry has been increasing. This has raised prices for consumers and is one of the main sources of inflation,” he said in the post.

The Congress leader said within the ‘G25’ in Indian business, there is a ‘G5’ whose share is increasing at the expense of the remaining ‘G20’.

“Big business groups are growing even bigger but that is not accelerating economic growth — in fact, it may be doing the reverse,” he said, citing an article in a newspaper.

“Governments must bet big on small and medium business. Instead, the Modi Government is fixated on big business,” Mr. Ramesh added.