The no-confidence motion tabled in Parliament by an Opposition coalition ended in a comfortable 325-126 majority for the government. The debate closed with Congress leader Rahul Gandhi giving Prime Minister Narendra Modi a warm, if somewhat unexpected hug. ‘Opp wins hug of war’ was the Indian Express front-page headline (July 21)
India’s shame
Barely a fortnight ago, Arun Jaitley BJP’s senior leader and finance minister, likened the late Indira Gandhi’s Emergency of 1975-77 to the rule of Adolf Hitler will have come to haunt him and his party with the mob lynching that were reminiscent of Nazi mobs in Berlin lynching Jews in Berlin and looting their businesses. The spectacle in India disgraced the nation and moved the Supreme Court to fire a broadside at the government for the mobocracy on display. Condemning the lawlessness, the Bench instructed the central and state government to pass and implement laws as a priority, as deterrents to such criminality. When Parliament convened for its Monsoon session, there was uproar as Opposition speakers laid into the government for negligence and complicity.
Sadly, Muslims have been the principal targets of these unruly mobs, whether for alleged cow slaughter or beef eating. Rumours are circulated through the internet and these turn viral, which was the object of the exercise (Times of India, Indian Express TV channels July 12, 18).
Ministers facilitate mobsters in jail
Union Minister Jayant Sinha and Jharkhand Minister Giriraj Singh lauded the the vigilantes in prison. Jayant Sinha subsequently expressed regret at his error of judgment. It was more than just that. It was collusion with criminality. Prime M Minister Modi should have demanded his resignation, and was remiss in not doing so. Giriraj Singh should have been sacked. Silence is a message much to be deplored. Fine words on tolerance and democratic values sound hollow. (Times of India July 8).
US third-largest car market for India
India has surged in the US passenger car market to occupy third place among its competitors at the end of financial year ending March 31, 2018. With $3 million worth of exports, India failed to find a place in the top car markets in the previous financial year ending March 31, 2017. Its surge in the US is thus extraordinary, to say the least (Business Standard July 16).
India’s GDP above France, set to overtake UK
India is now the world’s sixth biggest economy, pushing past France and set to overtake Britain by the end of the current 2018.
Financial year ending March 31, India’sGDP at $2.60 trillion shades behind the UK’s at $$2.62 trillion. India has doubled its GDP during the past decade to power ahead of Brazil ($2.06 trillion, Italy ($1.9)3 trillion and Canada ($1.65 trillion). However, India’s population dwarfs those of the above mentioned countries, with 1.3 billion, second only to China’s estimated 1.4 billion (Business (July 12).
No capitulation to US pressure
India has informed the US that its defence acquisitions from Russia, most notably the latter’s S-400 missile system is to go ahead regardless. Defence Minister Nirmala Sitharaman told correspondence during the briefing that India would not participate in the joint research of the Russia’s Fifth Generation Fighter Aircraft, but preferred to buy the planes directly from Russia when they were ready for export. With India’s Tejas aircraft still not ready for Full Operation Clearance (FoC), India’s decision is surely wise (Indian Express July 14).
India to stand by Iran
‘There are many routes by which Iran and India can cooperate in important fields especially in energy and (the development of the Iranian port of) Chahbahar.,’ said Iran’s Deputy Foreign Minister Abbas Araghchi during a visit to India for talks with Indian foreign secretary Vijay Gokhale. . .
Pressure
‘I have a very good sense that cooperation between the two countries would continue. Of course there are difficulties, but we have to work hard to face these challenges,’ he told Indian reporters in New Delhi. Iranian officials disclosed that they were informed by the European leaders that India and the EU would work in tandem to save the nuclear power deal with Tehran, now under threat from US sanctions (Times of India July 17).
India, Korea to deepen industrial ties
The visit to India of South Korean President Moon Jae-in and his wife Kim Jung was an opportunity to deepen Indian-Korean economic and political ties. President Moon played a seminal role in defusing tensions between North Korea and the United States with his outreach to his North Korean counterpart President Kim Jong-un, whom US President Donald Trump had initially derided but later embraced as a partner for peace on the Peninsula.
President Moon, in the aftermath of this crisis and its resolution, at least for now, decided to exploit the moment to extend South Korea’s diplomatic explorations southwards to India and South Asia.
South Korea’s Rise
The Republic of South Korea’s Rise from destitution following the devastation of the Korean War (1950-53) to its current First World status as an industrial giant is an astonishing achievement worthy of any age. The South Korean footprint in India (with that of Japan ) has grown spectacularly and is set to achieve even greater heights, given the growth of the Indian economy.
India and Korea, not speak of Asia’s other countries, east, west, north and south are adjusting to the shift in the tectonic plates of global power. Prime Minister Modi and his distinguished guest had much to discuss about present ground realities and a troubled, unfolding future.
Digitisation prospects
According to a Google and KPMG report, Indian businesses in select verticals will unlock around $39 billion worth of export opportunities by 2022, up from $16 billion in 2017. The report titled, ‘Indian Brands Going Global: A $39 billion opportunity, points to travel, media, entertainment, consumer brands, and real estate as the key areas that are likely to yield the greatest dividends (Business Line July 20)
Bandhan Bank shines bright
While some of India’s biggest banks are mired in distress, newcomer West Bengal’s Bandhan Bank in three short years has been moving from strength to strength. Its first quarter (April-June 2018) net profit has surged by 48 per cent net profit of Rs 482 crore, up from Rs 327 crore for same quarter in 2017. The bank’s loan book has registered a 52 per cent rise. According to C.S. Ghosh, Managing Director and CEO, the bank will focus on the retail and MSME sectors to grow its loan book going forward (Business Line July 19).
Missile tracking ship
India’s nuclear missile tracking ship, which is to become part of an elaborate missile shield, is at present undergoing harbor trials before its launch in December. The VC 11184, an Ocean Surveillance Ship will serve the National Technical Research Organization and has taken four years to build (Economic Times July 19).
Russian helicopters for IAF
Following the acquisition of Russian S-400 Trumf air defence missile system, India is to acquire 48 Russian Mil-17-VS helicopters for an estimated $1.2 billion. ‘Other deals with Russia will follow,’ said an Indian official. Rosoboronexport, a subsidiary of Rostech State Corporation, has an order backlog of around $45 billion (Business Line July 14).
Advice to Rahul
Prithviraj Chauhan, the former Congress Chief Minister of Maharashtra, has advised Party President Rahul Gandhi to stop Modi bashing and spell out his party’s policies for India (Business Line July 16) (Times of India July 9).
Mauritian route to Africa
India and Mauritius are set to reduce tariffs for itemized commodities as a prelude to a wider free trade agreement (FTA), and thence pave the way for Indian goods and services to the African continent. As Mauritius is party to a host of free trade agreements with African states, including the latest with the 44 nation African Union FTA, India is betting big that a FTA alignment wi9th Mauritius would open the doors to the lucrative African markets. Not only does Mauritius have FTAs with Africa, it boats a Generalized System of Preferred Preferences with Japan, along with various trade deals with Switzerland, Kazakhstan, Belarus and Russia, with China looking in from the outside, it has to consider China’s moves as well.
Geopolitics
An Indian official noted: ‘Geopolitical reasons for signing a trade pact with Mauritius are also important as we cannot allow China to have a greater influence there’ (Business Line July 16)
Seminal deal
In a landmark event in the outskirts of New Delhi, Prime Minister Modi and President Moon Jae-in inaugurated the South Korean Samsung Electronics plant – the world’s largest mobile telephone manufacturing site. ‘The Samsung announcement is good news, but it must be seen as a one-off at present,’ said Vivek Dahejia, Associate Professor, Economics, Carlton University, Canada. The best clearly is yet to come (Business Line July 20)
Fake news
An extracted paragraph from Indrani Bagchi’s edit page article in the Times of India (July 16):
In Afghanistan, for instance, Russia could be persuaded to stop or slow down weapons to Taliban, which is severely impacting Indian security interests.
US and Afghan government sources say arms supplies to the Taliban have emanated from Pakistan.
