Social Media Rumors About India Withdrawing €500 Billion from UK Economy Proven False

A misleading YouTube video claiming that India has withdrawn €500 billion from the United Kingdom’s economy has gained significant traction across social media platforms, despite being entirely fabricated.

The video, published on October 28 by an unverified channel called ‘Kingdom Unveil,’ bore the sensationalist title: “1 MIN AGO: India PULLS £500 Billion from UK Economy — Starmer BEGS for Mercy!” The content quickly spread across multiple social media platforms, with many users sharing it as factual breaking news.

However, a closer examination reveals the content to be completely fictional. The video’s own description explicitly states that the narrative is “entirely fictional,” though this disclaimer appears to have been overlooked by many who shared the content. There is no credible evidence from any reputable financial news source, government statement, or economic report suggesting that India has withdrawn any such amount from the British economy.

The false claim comes at a time of heightened attention on UK-India relations. The two nations have been engaged in protracted negotiations over a potential free trade agreement since January 2022. The talks have experienced several delays and complications under both the previous Conservative government and current Labour administration led by Prime Minister Keir Starmer.

Financial experts note that the claimed figure of £500 billion is implausibly large. For context, such an amount would represent approximately 20% of the UK’s entire gross domestic product, which stood at £2.5 trillion in 2023. A financial maneuver of this magnitude would trigger immediate global economic repercussions, extensive news coverage from mainstream financial outlets, and formal government responses.

Dr. Rakesh Mohan, former Deputy Governor of the Reserve Bank of India, told our correspondent: “A transaction of this magnitude would be impossible to hide and would cause immediate, severe disruption in global currency markets. The fact that no financial institution has reported unusual activity confirms this is purely fictional.”

The spread of such misinformation highlights growing concerns about the viral nature of economic falsehoods on social media. Research from the Reuters Institute for the Study of Journalism indicates that economic misinformation can spread up to six times faster than corrections or factual reporting, particularly during periods of market uncertainty or political transition.

Bilateral economic relations between the UK and India remain significant, with total trade in goods and services between the two countries amounting to £34.2 billion in the year ending June 2023, according to the UK’s Department for International Trade. India ranks as the UK’s 12th largest trading partner, while the UK is one of the largest G20 investors in India.

The fabricated video emerges as both nations continue working toward strengthening economic ties despite Brexit-related complications. Prime Minister Starmer’s government has repeatedly emphasized the importance of the UK-India relationship, particularly as Britain seeks to diversify its trade relationships following its departure from the European Union.

Officials from both countries have declined to comment specifically on the viral misinformation, though diplomatic sources indicate that negotiations continue constructively toward an eventual trade agreement that could potentially increase bilateral trade significantly in coming years.

Social media platforms have been criticized for their slow response in labeling or removing the misleading content, which continues to circulate despite being debunked.

Experts advise users to verify information through multiple credible sources before sharing economic or political claims, particularly those making extraordinary assertions about international financial movements.