- 1 year ago
The big talking point of this episode of News Today is the escalating tariff war following the United States' imposition of 50 percent tariffs on India.
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00:00Good evening, hello and welcome. You're with the news today, your prime time destination, news, newsmakers, talking points, news without the noise.
00:08We have plenty on the show tonight, but first, let's bring you, as always, what's our big talking point?
00:16How can India defang Trump's tariffs?
00:19Among my special guests tonight will be Dr. Raghuram Rajan, the former RBI governor and leading economist.
00:25He'll tell us what's the rationale behind the Trump tariffs and how should India respond?
00:31We'll also have exporters joining us from the ground and ground reports from across the country.
00:37But first, as always, it's time for the nine headlines at night.
00:43India is hit with a total 50% tariffs by the United States.
00:48This time, Donald Trump repeats his claims as he spoke to Prime Minister Modi and an attack on Pakistan ended in five hours.
00:58Prime Minister Modi in Parliament had denied speaking to Trump.
01:02The opposition wants an explanation.
01:04Even as the tarot wars escalate between New Delhi and Washington, top government sources say communications channels open between India and the United States.
01:16Positive signals on both sides as the RBI meets various sectors.
01:21Exporters are in a quandary over what happens to them, say livelihoods will be lost.
01:27Cabinet gives a green signal to submit a bid for the Commonwealth Games 2030 pre-028 for the Gujarat Government of India wins bid.
01:42Ahmedabad-Gandhi Nagar could be the venue.
01:48Tamil Nadu Chief Minister M.K. Stalin joins Rahul Gandhi in his Bihar Vote Adhikar Rally.
01:55Stalin, speaking in Tamil, takes on the Modi government.
01:59The BJP hits back, says Stalin has spoken ill of Biharis.
02:03Bihar's Deputy Chief Minister takes an intruder jive.
02:09At least 34 people are dead in the Vaishno Devi landslide.
02:13Survivors claim no warning was issued by authorities before calamity.
02:17IAF continues rescue ops across the Jammu region.
02:21Home Minister Amit Shah felicitates security personnel involved in Operation Mahadev praises their bravery.
02:31The soldiers had gunned down the Pahlgaam butchers.
02:38Brutal assault by TVK Chief Vijay's bouncer lands.
02:42The actor turned Neta in trouble.
02:45Vijay booked after complaint by Kada, who was thrown off the stage in a Madurai rally.
02:51Another picture of unity amongst the Thakre cousins on Gadeh Chaturthi.
03:00Dhols, Aarti and festivities.
03:02Is there a possible political alliance next between the Thakre cousins in Mumbai on the cards?
03:09Ten people shot in U.S. mass shooting in Minneapolis Catholic School.
03:18Trump says FBI is on the ground.
03:21The U.S. President prays for the victims.
03:23But first to the story that's breaking at the moment.
03:44The latest on that big tariff war between India and the United States.
03:48Sources now telling India today that communication channels remain open between New Delhi and Washington.
03:55And there are still positive signals that can be built upon.
03:59Sources claiming that the government is now working on what is being described as a multi-pronged strategy.
04:05And the Reserve Bank of India team is meeting the various affected sectors.
04:09Because remember, several exporters claim that their businesses are going to shut down because of these tariff restrictions.
04:17Sources claiming that there will be an attempt made also to reach out to other markets.
04:22Joining me now is Senior Editor Maria Shakir.
04:26Maria, the fact is that the government of India has not officially responded to the tariffs that have come in place from today.
04:33It's all source based.
04:35Does the government have a clear plan in place?
04:38Or is the option more wait and watch to see what Donald Trump does next?
04:43Yes, sir.
04:43So the sense certainly within the government right now, Rajdeep, is that there is quiet confidence.
04:49And at the same time, they are waiting and watching as to how Washington will react.
04:54Because if you look at the statement which came in from the Treasury Secretary of the United States,
04:59he also said that given the nature of stakes that are between the two countries,
05:04it is almost in the interest of both the nations that they should look at trade talks to ensure that it goes in the logical direction.
05:14But having said that, the indication from the government as far as the sources are concerned, Rajdeep,
05:18is that yes, 50% tariffs have kicked in from today.
05:24But as far as the trade talks between the two countries are concerned,
05:27the channel of communication is open.
05:29Remember, the negotiators from Washington were expected in New Delhi this week.
05:34And that did not really happen.
05:35The sense was that there is a total impasse,
05:38that there is a complete breakdown of communication between the two sides.
05:41That is not happening.
05:42What we are told is that there are concerns on both the sides,
05:45that there are positive signals on both the sides.
05:47And at the same time, the government of India is looking at newer markets.
05:52What sources are telling us is that EFTA has been signed,
05:55and it will come into effect sometime next month.
05:58And as far as negotiations with the European Union is concerned,
06:01that is also at an advanced stage.
06:03But of course, at the moment, New Delhi very quietly waiting and watching
06:08as to how the signals emerge from Washington.
06:11That's right.
06:16Waiting and watching to see what Donald Trump does next,
06:19because you never know what Donald Trump will do next.
06:22Maria, of course, will be there with more on her bulletin at 10pm.
06:26Okay.
06:27It's time for an exclusive now.
06:29My special guest this evening is a very special one.
06:39Privileged to be joined by Dr. Raghuram Rajan,
06:42former Reserve Bank of India governor,
06:44former chief economist of IMF,
06:46and of course a professor at the Chicago's Booth School of Business,
06:51and one of the world's leading voices on economics.
06:55I appreciate, Dr. Rajan, you joining us.
06:58You join us at a time on a day
07:00which is being described as Tea Day, Tariff Day.
07:03The tariffs have kicked in, U.S. tariffs 50% on India.
07:08Your first reactions to what has happened
07:10with these tariffs kicking in at 50%,
07:14including that 25% penalty for India buying Russian oil.
07:19Well, it's unfortunate.
07:22It is deeply distressing that this should have happened.
07:26It is a blow to U.S.-India relationships.
07:31It is certainly very, very harmful for small Indian exporters,
07:38our shrimp producers, our textile manufacturers.
07:42Lots of workers will be sort of hurt by this.
07:46Their livelihoods will be in jeopardy.
07:48It's also a problem for the U.S.
07:52Buying goods with a markup of 50%
07:55to the extent that some of them are still sent across
07:59with these kinds of tariffs
08:00is harmful for the U.S. consumer.
08:04So this is an event which should not have happened.
08:08Unfortunately, it has.
08:09I'll come to the impact it's having in a moment,
08:16but just to understand,
08:18do you believe there's any rational explanation
08:21for what Donald Trump has done?
08:23Is he weaponizing tariffs as an instrument of foreign policy?
08:28Or is he someone who's an ideologically committed
08:32to the idea of high tariffs
08:35and in a way protecting American businesses?
08:41Well, I think there is a complicated set of rationales
08:45for these tariffs.
08:47Not the specific ones on India,
08:49but generally Donald Trump's love for tariffs.
08:52I think certainly he believes
08:55that a current account deficit, trade deficit,
08:59is evidence that other countries
09:03are taking advantage of the United States
09:05rather than, you know, they're buying goods,
09:08they're sending goods cheaply to the United States
09:11with the U.S. consumer benefits from.
09:14So this has been an old view of his, right,
09:17from, you know, Japan in the 1980s.
09:20And he has always believed
09:23that tariffs are a way of leveling the playing field.
09:27A second factor has been more recently
09:30the view that somehow tariffs
09:33will be a tax paid by outsiders
09:35and not by the U.S. consumer.
09:39And therefore, it's a cheap way of getting revenues,
09:43which can then help offset some of the tax cuts
09:46that he has made.
09:49A third one, which you see a lot of nowadays,
09:53is it's punitive.
09:55So it can be a way for the U.S.
09:59to essentially use force
10:02when it doesn't want to use its military.
10:06So I think there's some aspects of each of these
10:10in the tariffs that are applied to different countries.
10:14And unfortunately, of course,
10:17the reality is that other countries suffer.
10:20But specifically on India,
10:26when I look at the tariffs on Asian nations,
10:29we are way above now.
10:30We are 50 percent.
10:31Bangladesh, Sri Lanka, Taiwan, Vietnam,
10:34all at 20 percent.
10:35With China, there's still negotiations on
10:38at various levels.
10:39But it almost seems as if India in particular
10:41has been singled out.
10:43Is that something that should worry us?
10:45Because that's what you said at the outset.
10:47A relationship, in a way,
10:49has been completely upended.
10:50It's almost as if India in particular
10:52is being punished in some way.
10:54It is.
10:56I think there's no two questions about that.
11:00And to some extent,
11:02my discussions with foreign ministry officials
11:07suggest that there was an agreement
11:11which was on the cards
11:12which would have brought India in with tariffs
11:16which were more like the Asian tariffs,
11:19more in line with them.
11:21And so we wouldn't look different
11:23and we would be on a level playing field.
11:25Of course, there was a hope
11:27that the special Modi-Trump relationship
11:30would yield something even better.
11:33But at least we would not look worse
11:35if that had played out.
11:37Something changed
11:38in between the negotiations
11:40that were going on
11:42that seemed to be going on reasonably
11:44and the sudden outbursts
11:47which have led to Peter Navarro
11:49writing a piece in the Financial Times
11:52accusing India of being an outlier
11:54in enabling Russia.
11:57The fact that Turkey and China
11:59have not been similarly tariffed
12:01for enabling Russian oil sales
12:04or, you know, for that matter,
12:05the European Union
12:06for buying energy products from Russia.
12:10But also the fact that
12:13the Indian tariffs have been set at 25,
12:15the base tariffs,
12:17even while other countries
12:20are much lower in Asia,
12:23making India disadvantaged.
12:24We had hoped
12:26that India would actually find
12:28some advantage from these tariffs
12:29vis-a-vis other Asian producers.
12:32And in fact, it's gone the other way.
12:34So the relationship clearly
12:35has broken down.
12:38Yeah.
12:40Go ahead.
12:43No, so what according to you
12:46explains that?
12:47The fact that
12:48India has been penalized 25%
12:52for these Russian oil purchases.
12:56Do you believe
12:56that's a red herring?
12:58Do you believe
12:59that that is something
12:59that was in India's interest
13:01to import oil
13:03from Russia
13:04at cheap prices?
13:06The Americans,
13:07Navarro and others
13:08are calling it profiteering.
13:09What's your own view?
13:10Should countries
13:11have the sovereign right
13:12to decide
13:13on these issues?
13:15Or was that where
13:16perhaps India misread
13:18what the United States
13:19and the Trump administration
13:20intended to do?
13:22I think
13:23we are beyond
13:25issues of fairness,
13:27sovereignty, etc.
13:29We are talking about
13:31a situation
13:31where it is a power play,
13:33but it's not just
13:35a simple power play
13:36driven by the exigencies
13:38of the moment.
13:39It's also
13:40what goes on
13:41in the American
13:43president's mind.
13:45And that is,
13:46you know,
13:48a complex
13:49set of issues
13:50which everyone
13:52is trying to divine.
13:53What clearly seems
13:54to have happened
13:55is at some point
13:57the president
13:59has decided
14:00that India
14:02is,
14:03you know,
14:05a country
14:06which is not playing
14:07by the rules
14:08that he says
14:09and
14:11needs to be singled out.
14:13Navarro would not
14:14write in the Financial Times
14:15without permission.
14:18And he has been
14:19permissioned.
14:20The point,
14:22however,
14:22is that,
14:24you know,
14:25it is an exercise
14:26of power.
14:27There's no point
14:27talking about fairness,
14:29this, that.
14:31You know,
14:31yes,
14:33we do have the right
14:34to buy oil
14:34from whoever we want.
14:36But,
14:37if there is
14:39a country
14:40which is applying
14:41pressure on us,
14:42weaponizing tariffs,
14:43as you've said,
14:44we have to ask ourselves
14:46how much we benefit
14:47from buying this oil.
14:49Who benefits in India?
14:51After all,
14:51there are refiners
14:52who are making
14:53excess profits.
14:54Do they still
14:56make those excess profits?
14:57Should we take
14:58some of those
14:59excess profits
14:59and benefit
15:00some of the exporters
15:02who are being hurt
15:03by the fact
15:04that they're buying
15:05oil from Russia?
15:06I mean,
15:07all these are questions
15:08that arise.
15:10I think fairness,
15:11we can talk
15:12till the cows come home
15:13about fairness,
15:14but that's not the issue
15:14at play here.
15:15It's interesting
15:20the way you're putting it
15:21because you've got China
15:23on the other hand
15:24which continues
15:25to be the largest
15:26importer of Russian oil.
15:28China is not being
15:29penalized
15:30and India is,
15:30but you're making
15:31an interesting point there
15:32suggesting that
15:33the profiteering
15:34of Indian corporates
15:35through
15:36refining oils,
15:39Reliance and others
15:40while now
15:42exporters,
15:43small exporters
15:44of shrimps,
15:45gems and jewelry
15:45and others
15:46take the hit.
15:47Do you believe
15:48therefore that
15:49there needs to be
15:49a complete rethink
15:50on this policy now?
15:53I think it's worth
15:54considering how much
15:55we benefit from it
15:56and how much
15:57we are losing.
15:59And again,
16:00I think insisting
16:01on sovereignty,
16:02et cetera,
16:03is fine
16:05from the perspective
16:06of our rights
16:08but at this point
16:10it's a real power play
16:11and we need to ask
16:13who's benefiting
16:14from this
16:14in the country,
16:15who's hurting
16:16and on net
16:17is the country benefiting.
16:19The price of Russian oil
16:20today is not that different
16:22from the market price of oil.
16:24Remember,
16:24we were importing
16:25only 2% from Russia
16:27before
16:28these sanctions
16:29were applied on Russia
16:30and it became convenient
16:32for us to buy Russian oil.
16:33As many have said,
16:35with the connivance
16:36of the Americans.
16:38Now that the Americans
16:39have turned,
16:40I think it's worth asking
16:41how much does this benefit us
16:43and who is it going to
16:45and do we need
16:46to continue this
16:47or can we quietly
16:48shut down this
16:51and move towards
16:52buying oil on the market
16:54if it doesn't cost us
16:55that much
16:56while it costs us
16:57enormous amounts
16:58in tariffs,
16:59it is certainly
17:00a policy question
17:01worth asking.
17:02Again,
17:03I'm not in any doubt
17:05about the sovereignty question
17:06but the policy question
17:08can be quite different.
17:13Yes,
17:13but there will be those
17:14listening to you,
17:15Dr. Rajan,
17:16you emphasize the word
17:17we quietly reduce
17:18our dependence
17:19on Russian oil
17:20but can we do it
17:21quietly in this environment?
17:22It will be seen
17:23as India succumbing
17:24to political pressure.
17:25So it's not just
17:26an economic question,
17:27it's also now
17:27a political question,
17:29obviously,
17:29the power play
17:30that you're talking about.
17:32I think the question
17:33is more easily resolved
17:36if we ask ourselves
17:37who's paying the price
17:38for this purchase
17:40and who's getting
17:41the benefits.
17:42And if we equalize
17:44by taking from those
17:45who are benefiting
17:46to giving those
17:47who are paying the price,
17:49maybe that itself
17:50will reduce the incentive
17:52to go purchasing
17:53this Russian oil.
17:54I mean,
17:54let's face it,
17:55there is a cost
17:56being paid today
17:57for buying Russian oil.
17:58There's a benefit from it
18:00and we need to ask
18:01ourselves as a country
18:02how this is playing out.
18:08Let's turn then
18:09to the impact
18:10that it's had.
18:10The immediate impact
18:11has been on exporters
18:12and there is a sense
18:15that this also,
18:16while exporters
18:17are taking a hit,
18:19textiles,
18:20shrimps,
18:21leather,
18:22there is also a belief
18:23that this could be
18:24an opportunity
18:25A, to diversify
18:26our export basket,
18:27look well beyond America.
18:29There are others
18:30who believe
18:30this is an opportunity
18:31to come closer
18:32to BRICS,
18:33to China,
18:35to Russia,
18:35carve out new
18:36trade alliances.
18:37What's your sense?
18:38Is there an opportunity
18:39in this crisis
18:41that looms over us?
18:44I think there is,
18:46you know,
18:47a wake-up call.
18:48We should not be dependent
18:50on anybody
18:51to a large extent,
18:52right?
18:53And that goes for China,
18:54that goes for Russia,
18:55that goes for the United States.
18:57Trade has been weaponized.
19:00It's no longer
19:01according to WTO rules.
19:04Similarly,
19:05investment will be weaponized.
19:07Finance will be weaponized.
19:09So I think
19:09the Prime Minister
19:10is right
19:11in saying,
19:11for example,
19:12in rare earths,
19:13we should look
19:14to whether
19:15we can be held up
19:16and what our
19:16alternative sources
19:18of supply are,
19:18including domestic ones.
19:20But we should do this
19:21for every commodity,
19:24both the ones
19:24that we're,
19:25every good
19:26that we're exporting,
19:28but also goods
19:29that we're importing
19:29to see our vulnerabilities
19:31and plan ahead
19:32to ensure
19:33our vulnerabilities
19:34are reduced.
19:35Yes,
19:36we will have some friends,
19:38but make sure
19:39there are multiple friends
19:40who can supply us
19:42rather than being dependent
19:43on one friend
19:44who might turn.
19:45And I would say,
19:47you know,
19:47this also means
19:48that we can work
19:50with traditional adversaries
19:53or people who haven't,
19:55countries that haven't proved
19:56reliable in the past,
19:58but don't be too dependent
20:00on anyone.
20:05So that would presumably
20:07include China
20:07because till a few months ago,
20:10we were talking about
20:11India becoming part
20:12of a China plus one strategy
20:14as an alternative
20:15for a global supply chain
20:19that we could compete
20:20with the Chinese.
20:21Are we now saying
20:22that this may well
20:23be an opportunity
20:24rather than compete
20:24to actually collaborate
20:25with the Chinese
20:26to see ourselves
20:27as part of some kind
20:28of a new trade axis
20:30if the Americans
20:31are going to,
20:32as we are saying,
20:33repeatedly weaponize
20:34tariffs against us?
20:36I think tariffs
20:37can be weaponized
20:38by anybody.
20:39So I would say
20:40let us form
20:42whatever relationships
20:43make sense,
20:44but don't be dependent
20:47on any one relationship.
20:49By all means,
20:51work with the Chinese.
20:52Invite Chinese investment
20:53and get them to share
20:54some of their technology
20:55with us
20:56because there's a lot
20:57to be learned
20:58from the Chinese.
20:59But make sure
21:00that you're not dependent
21:01on them,
21:01that you have alternatives
21:03and those alternatives
21:04can be strengthened
21:06in times when the Chinese
21:08and you don't get along.
21:10I think this
21:11is a version
21:13of real politics
21:14which we really need
21:16to think carefully about
21:17in every area.
21:19We have to make sure
21:20we are reasonably diversified
21:22because as we become
21:24stronger as an economy,
21:26more and more countries
21:28will become wary of us.
21:30And it is really important
21:31at that point
21:32that we have
21:33multiple alternatives,
21:35including,
21:36I wouldn't say entirely,
21:38but including
21:39some self-dependence.
21:45But, you know,
21:46you use the word
21:47self-dependence
21:48in the last few days,
21:48a lot of talk
21:49about Make in India,
21:51about strengthening
21:52our Swadeshi spirit,
21:53Swadeshi 2.0.
21:55Now, in the past,
21:57this government
21:57in particular
21:58has been accused
21:58of being excessively
21:59protectionist,
22:00the Modi government,
22:01and trying to push
22:02Make in India
22:03but not fully succeeding
22:04in that.
22:05Do you believe
22:05that that is the direction
22:07to go in
22:07or is this an opportunity
22:09in a way
22:09to break some
22:10of those protectionist barriers
22:11to open ourselves
22:13much more to the world
22:14and compete
22:16by just improving
22:18the ease
22:20of doing business
22:21in this country?
22:22This provides,
22:23much like 1991
22:24did, strangely enough,
22:26an opportunity
22:26to reform Indian businesses
22:28as well,
22:29make them more competitive.
22:30You know my predilection here.
22:34It is for the latter.
22:36It is an opportunity
22:38for us to open up,
22:41become members
22:43of various supply chains,
22:44not just the ones
22:45that run into the U.S.,
22:47but also across the world.
22:49Japan can be a good partner
22:50in many new activities
22:53because Japanese firms
22:54have invested tremendously
22:56in India.
22:57We need to also
22:58create more opportunities
23:01for our own firms,
23:03right?
23:04And that means
23:05doing all the reforms
23:07we've talked about.
23:07GST reforms
23:08are just one step,
23:10but the ease
23:11of doing business
23:12is something
23:12we've talked about
23:13a long time.
23:15It has to move
23:16from the drawing board
23:17to actual implementation.
23:19Our business people
23:19have to feel
23:20that doing business
23:21is actually easier
23:23rather than
23:24it's just some numbers
23:25in some charts
23:26that the finance ministry
23:28puts up.
23:30So I think
23:30this requires real work.
23:32I mean, remember,
23:33two budgets ago,
23:35one and a half budgets ago,
23:36we got the announcement
23:37that there'd be a committee
23:38which would ease
23:39doing business.
23:41What has it actually proposed?
23:42Why is it
23:43that we're not seeing
23:44more of those proposals
23:45actually make their way
23:47through the central government,
23:49but also the state government?
23:50I think I'm exactly
23:52on the same page
23:53as you are
23:53when I say
23:54this is an opportunity
23:56for significant reforms,
23:58enhancing the pace of growth,
24:00enhancing the ease
24:01of doing business
24:02and enhancing
24:03the level playing field
24:05in India
24:06for our small and medium,
24:08even large businesses
24:09to compete with each other,
24:11generate that growth.
24:16You know,
24:17in conclusion,
24:18Dr. Rajan,
24:18I recall
24:19speaking to your
24:20a couple of months ago
24:21and that time
24:21there was a relative
24:22uncertainty
24:23over what impact
24:24tariffs would have
24:25on growth rates
24:26across the world.
24:27There was talk
24:28of America slipping
24:29into a recession.
24:30That talk is still there
24:31of a third of the American economy
24:33slipping into recession.
24:35There is talk now
24:37of tariffs
24:37having some kind of
24:38an impact
24:39on some of India's
24:40growth projections.
24:41What's your sense?
24:42Are we heading
24:43for uncertain times
24:44and possibly
24:45a U.S. recession?
24:47How do you see it?
24:49Because Donald Trump
24:49seems to be,
24:50don't worry,
24:52be happy.
24:54I think the consequences
24:55of all the policy
24:58changes that have been
24:59made in the first
25:01half of this year
25:02will show up
25:02in the second half.
25:04Almost surely
25:05we will see
25:06higher inflation
25:07in the United States.
25:09Almost surely
25:09we will see
25:10slower growth.
25:12And of course,
25:12the jury is still out
25:14on what we'll see
25:14on interest rates
25:15because the Fed
25:16is being pummeled
25:17right now
25:17through a variety
25:19of pressures
25:20from the administration.
25:22But also,
25:23the Fed is very wary
25:24of what's going to happen
25:25in the labor market.
25:27But broadly,
25:28I think
25:28the consensus,
25:30which I don't disagree with,
25:31is higher inflation,
25:33lower growth
25:33in the United States
25:34in the rest of the year.
25:36Now,
25:36what happens is,
25:38what matters
25:39is how this affects
25:40the policies
25:42that the administration
25:43is putting out.
25:44Right now,
25:45it seems as if
25:46there is no downside
25:47to these policies.
25:49And it's all upside.
25:50More revenues
25:51being generated
25:52from the tariffs
25:52that the administration
25:54has applied.
25:56And as yet,
25:57no significant
25:58slowdown in growth.
26:00Now,
26:01we have to wait
26:02and see
26:02if what economists
26:03predict
26:04actually comes out.
26:06The U.S. administration
26:08is discounting
26:09what the economists
26:10predict
26:11and say
26:12it'll be wonderful.
26:14Let's see.
26:14In conclusion,
26:20net-net,
26:21what would you say
26:22therefore
26:22should India's approach
26:24be in the near term?
26:26Is it to be cautious,
26:27wait and watch?
26:28Because who knows,
26:28Donald Trump
26:29may get up
26:30from the right side
26:31of the bed tomorrow
26:32and suddenly decide
26:33that he wants to again
26:34upturn U.S. policy.
26:35So,
26:36should we be cautious,
26:37wait and watch?
26:37or should we respond
26:39in anger
26:40in some form
26:40and retaliate?
26:41Is it in our best interest
26:43to just wait this out
26:44over the next few months?
26:45I think it is best
26:48to keep negotiating
26:50to see how
26:52we can
26:53rectify the situation.
26:56I think 50% tariffs
26:59is in neither country's interest.
27:01We should certainly
27:02enlist U.S.
27:04friends,
27:05including,
27:06for example,
27:07shrimp importers
27:07who are seeing
27:08their costs go up,
27:11get them to also
27:12talk to the administration.
27:14I think it is
27:15quite important
27:16to see that
27:17we somehow
27:18get to the year
27:19of the president.
27:20We have a new ambassador
27:21for the United States
27:22who's a friend
27:23of the president.
27:24Talk to him also.
27:25But I think broadly
27:26try and rectify
27:27the situation.
27:29And I think
27:30it's important here
27:31not to make
27:32the situation worse
27:33by,
27:34you know,
27:35reacting in anger.
27:37I think
27:39our foreign
27:39establishment
27:40can do the right,
27:43can follow
27:44the right approach,
27:45which many countries
27:46have,
27:46of trying to work
27:48with the administration
27:49to rectify issues.
27:50But I think,
27:51as you said,
27:52it is also
27:53a wake-up call
27:53for us.
27:54Let us not
27:55become overly
27:56dependent on
27:57any single country.
27:59Let us ensure
28:00we're part
28:00of the global
28:01supply chains
28:02across the world.
28:04Let us look
28:04east.
28:05Let us look
28:05to Europe.
28:06Let us look
28:07to Africa,
28:08including
28:09what we're
28:10already doing
28:11with the U.S.
28:13And let us
28:14unleash
28:15those reforms
28:15which we
28:16absolutely need
28:17to do in India
28:18to get to
28:19that 8,
28:198.5% growth
28:21which we need
28:21to employ our youth.
28:22That is something
28:23we've been
28:24talking about
28:24for a long time.
28:26This may be
28:26the wake-up call
28:27to get us
28:28to do that.
28:33Dr. Raghuram Rajan
28:34for perhaps
28:35giving us
28:36a wake-up call
28:37all the way
28:38there from Chicago.
28:40Always a pleasure
28:41talking to you.
28:42Thank you so much
28:43for joining me
28:43here today
28:44on the news today.
28:45Thanks very much.
28:56Okay, we've been
28:57hearing from experts
28:58but let's turn
28:59to the situation
29:00on the ground.
29:01Which are the
29:01industries that have
29:02been affected
29:03the most?
29:04Gems and jewellries,
29:05textiles,
29:07shrimp exporters
29:08and our livelihoods
29:10of ordinary workers
29:12in these industries
29:13now at stake.
29:14Take a look
29:15at the ground reality
29:16of Trump's
29:17tariffs impact
29:18on India.
29:22Donald Trump's
29:2450% tariff
29:25on India
29:25has kicked in.
29:27While sectors
29:28like pharma,
29:29electronics
29:29and energy
29:30are exempted,
29:32textiles,
29:33leather goods,
29:34gems,
29:34seafood
29:35which are
29:35vulnerable
29:36are feeling
29:37the pinch.
29:39For Tirupur,
29:40the textile hub
29:40of Tamil Nadu
29:41which is recovering
29:42after a series
29:43of setbacks
29:44like COVID
29:45pandemic
29:45and Ukraine,
29:47the tariffs
29:47pose a new challenge.
29:49With over
29:492,500 exporters,
29:51the town is
29:52India's knitwear
29:53capital
29:54and has reasons
29:55to worry.
29:56Here is why.
29:58At a 50%
30:00tariff rate,
30:01an Indian-made
30:02shirt that once
30:03sold at $10
30:04will now cost
30:05American buyers
30:06$16.40,
30:09far costlier
30:10than $13.20
30:11from Bangladesh
30:13or $12
30:14from Vietnam
30:15or $14.20
30:17from China.
30:182,500 exporters
30:20and 20,000
30:20standalone units
30:21currently running
30:23in Tirupur,
30:23contributing
30:24about 68%
30:27of nations'
30:28knitwear export.
30:28Tirupur exporters,
30:29we can divide them
30:30into three
30:32classifications.
30:33one classification
30:34is completely
30:35doing the business
30:38only with the
30:39American buyers.
30:40So the worst
30:40affected
30:41factories
30:44are the first
30:44category.
30:45In the coming
30:45months,
30:46if this
30:46situation continues,
30:49the first
30:49and second
30:50category factories
30:52will look
30:53for the new
30:54markets.
30:55The carpet
30:57sellers of
30:58Mirzapur
30:58are keeping
30:59their fingers
30:59crossed.
31:00The US
31:01is a big
31:01market for
31:02the industry
31:02which employs
31:03thousands of
31:04artisans.
31:05leather is
31:28another sector
31:28which is at
31:29risk.
31:30Kolkata has
31:30450 exporters.
31:32The trio
31:32group is
31:33among the
31:33big names.
31:34The US
31:35tariff could
31:35force many
31:36of them
31:36to change
31:37strategy.
31:38We expect
31:40the government
31:40to step in.
31:42During COVID
31:42days, we have
31:43seen the
31:43government
31:44stepping up
31:45the support
31:45to our
31:47industry.
31:47Coming back
31:48to the
31:48industry,
31:48what will
31:49the industry
31:49do?
31:50They will
31:50probably look
31:51at newer
31:52markets.
31:53They will
31:53probably try
31:54and reroute
31:56their exports
31:57through other
31:58markets which
31:59have lower
32:00tariffs.
32:02The factory
32:02in Kanpur
32:03makes toys.
32:04Toy exporters
32:05had gained
32:06from Trump's
32:07first term
32:07after he
32:08imposed tariffs
32:09on China.
32:09This time,
32:10it is a
32:11different story.
32:11Exporters are
32:29pinning hopes
32:29on the
32:29government
32:30bailout.
32:31Diversification
32:32of market
32:32deals with
32:33other trading
32:34blocks.
32:35But they
32:35fear relief
32:36could take
32:37time.
32:38Bureau
32:38Report,
32:39India Today.
32:41Okay,
32:43let's then
32:44go to our
32:44guests at
32:45the moment.
32:45Naresh Gujral
32:46is joining
32:46me.
32:46Naresh Gujral
32:47of course
32:47has been a
32:48former MP
32:49of the
32:49Akali Dal
32:50but importantly
32:50he's also
32:51former chairman
32:52of the
32:52Commerce
32:53Committee
32:53of Parliament
32:53and an
32:54exporter
32:54himself.
32:55Ajay
32:56Saha is
32:56Director
32:56General
32:57and CEO
32:57of
32:57Federation
32:58of
32:58Indian
32:58Export
32:59Organization.
33:00I appreciate
33:00both of
33:01you joining
33:01us.
33:01I want to
33:02come to
33:02you Mr.
33:02Gujral
33:02first.
33:04What's
33:04your sense?
33:05Is this
33:05a tipping
33:06point for
33:07many of
33:08you who
33:08over the
33:09years looked
33:09America as
33:10a primary
33:11market?
33:11Is this
33:11a moment
33:12to diversify
33:13or what
33:14is the
33:15how would
33:16you describe
33:16what's
33:17happened over
33:17the last
33:1824 hours?
33:23Rajdi,
33:25diversification
33:26is a word
33:27very easy
33:28to use.
33:29It takes
33:30years and
33:30years to
33:31build a
33:32market.
33:33We started
33:34building for
33:35the garment
33:36industry at
33:37least from
33:3875 onward.
33:39government
33:40of India
33:41was promoting
33:42exports.
33:43At that
33:44stage
33:44exporters
33:46were getting
33:46up to
33:4635 to
33:4738 percent
33:48cash incentives,
33:51duty drawbacks,
33:52licenses.
33:53Only then
33:54slowly could
33:55we make a
33:56dent in
33:56the market
33:56and it's
33:57taken almost
33:58five decades
33:59to break
34:00into the
34:00US market.
34:02Same is
34:03the case
34:04for other
34:04products.
34:06It doesn't
34:06happen overnight
34:07that you
34:07press a button
34:08and you
34:08say diversification.
34:09Of course
34:10all the
34:11exporters
34:11have been
34:11trying to
34:12diversify.
34:13Europe is
34:14sick.
34:15There are
34:15very few
34:16orders coming
34:16in from
34:17there.
34:18Where do
34:18you diversify?
34:19Africa?
34:21China?
34:23It's not
34:23easy.
34:25The main
34:25thing is
34:26US is a
34:27huge market
34:28and we
34:29cannot afford
34:30to let
34:30go.
34:31go.
34:32Once you
34:32vacate that
34:33space,
34:34somebody else
34:34will come
34:34and fill
34:35the void
34:35and it
34:36will be
34:36impossible
34:37to get
34:37market share
34:38back.
34:38So it's
34:39important that
34:41the government
34:42supports its
34:43exporters
34:43today and
34:44immediately so
34:46that factories
34:47don't close
34:47down,
34:48doesn't lead
34:49to mass
34:49unemployment
34:50which will
34:51mean social
34:53chaos,
34:54which will
34:54mean GDP
34:57going down,
34:58which will
34:58mean rupee
35:00taking a
35:02tumble.
35:03It has so
35:03many repercussions
35:06and the job
35:08losses are going
35:09to be in
35:09millions,
35:10I can tell you
35:10that.
35:11because most
35:12of these
35:12industries that
35:13your people
35:13were naming
35:14earlier are
35:15all labour
35:16intensive
35:17industries which
35:18give employment
35:19to unskilled
35:20or semi-skilled
35:21people.
35:22They can't
35:22find jobs
35:23anywhere.
35:24We saw
35:24their plight
35:25after COVID
35:27or earlier
35:28when demonetization
35:30took place.
35:31So this is
35:31a huge blow
35:33and I hope
35:34and through
35:36your channel
35:36I would like
35:37to impress
35:38upon the
35:38government.
35:39Please act
35:40quickly.
35:41These people
35:42need support.
35:43We can't
35:44afford to
35:44have our
35:44factories
35:45closing down.
35:47At the same
35:47time Rajdeep,
35:48I want to
35:49point out
35:49that buying
35:51oil from
35:52Russia has
35:54saved this
35:54country.
35:54Let me take
35:56that to Dr.
35:57Sahai because
35:58let me just
36:01take that for
36:01a moment to
36:02Ajay Sahai.
36:03Because Ajay
36:04Sahai, here you
36:05are hearing
36:05Naresh Gujaral
36:06saying lakhs
36:06of jobs,
36:07millions of
36:07jobs will be
36:08lost.
36:08Give us a
36:09ballpark figure
36:09because there
36:10are those
36:12who believe
36:12why, is it
36:15as serious
36:16a crisis as
36:17Mr. Gujaral
36:18is making it
36:19out to be
36:20that if the
36:21U.S.
36:21market imposes
36:22these tariffs
36:22that destroys
36:23lots of Indian
36:24small businesses,
36:26how true is
36:27that?
36:27Let us look
36:28into the big
36:29picture.
36:29Our export to
36:30the U.S.
36:31last year
36:31was around
36:32$88 billion.
36:33in the first
36:34five months
36:35we have
36:36clocked around
36:3720% plus
36:38growth to
36:38the U.S.
36:40and still
36:4045% of my
36:42export to
36:42U.S.
36:43will not be
36:44impacted of
36:45tariff.
36:45So we are
36:46talking about
36:47a scenario
36:47where for
36:48roughly half
36:48of the year
36:49plus we have
36:50already made
36:50the exports.
36:51The challenge
36:52is for the
36:52balance six
36:53months and
36:53where 45%
36:55is not
36:55impacted.
36:56But at the
36:57same time
36:5755% is
36:59getting impacted
36:59which will
37:00be in the
37:01range of
37:01$20 billion
37:02plus.
37:03But at the
37:04same time
37:04it is not
37:05that exports
37:06will not
37:06take place.
37:07We have
37:08talked to
37:08a number
37:08of exporters
37:09who are
37:09supplying to
37:10the brands.
37:11Brands
37:12probably have
37:12the margin
37:13where they
37:13can absorb
37:1450% tariff.
37:15It will be
37:16difficult for
37:16them to
37:17shift the
37:18supply chain
37:18as they
37:19have very
37:19strict social
37:20compliance norms
37:21also.
37:23But when
37:23the issue
37:24comes to
37:25the finalization
37:26of order,
37:26let us say
37:27for summer
37:27season,
37:28for the
37:28April or
37:29for the
37:29footwear
37:29sector,
37:30there are
37:31the challenges.
37:32We are
37:32actively
37:32engaged with
37:33the government.
37:34We are
37:34also requesting
37:35the government
37:36that let us
37:37look into
37:37retaining the
37:38U.S.
37:38market because
37:39as Mr.
37:39Gujaral says,
37:40once the
37:41market is
37:41lost,
37:42it is very
37:42difficult to
37:43recover the
37:44market.
37:44So that is
37:45the priority
37:46as of now
37:46for us.
37:47And I am
37:48pretty sure
37:48that the
37:48government
37:48will come
37:49forward to
37:50help the
37:50exporter in
37:51this scenario.
37:52We are
37:52also meeting
37:53the different
37:53authorities in
37:54this connection.
37:55So far the
37:56response has
37:57been positive
37:57and entirely
37:58agree with
37:58Mr.
37:59Gujaral that
38:00we need
38:00solutions very
38:01quickly.
38:02you know
38:07but Mr.
38:07Gujaral I
38:08keep also
38:08hearing talks
38:09today of
38:09Swadeshi 2.0.
38:11I heard an
38:11MP from the
38:12Amadmi Party
38:13saying we
38:13must boycott
38:14American goods.
38:15I mean
38:16rationality would
38:17demand to
38:17find solutions.
38:19Do you
38:19believe that
38:20the time has
38:21come?
38:21You were
38:21mentioning
38:22something about
38:22Russian oil
38:23when I
38:23interrupted you.
38:24Do you
38:24believe the
38:25time has
38:25come to
38:25re-look at
38:26our priorities,
38:27reset our
38:27priorities now?
38:28No
38:33Radheep,
38:33one thing
38:34I am very
38:35clear about
38:35that no
38:37country
38:37howsoever
38:39powerful it
38:40may be
38:40they cannot
38:41dictate our
38:42foreign policy.
38:43So on that
38:44issue I am
38:46totally with the
38:47government that
38:48we will not
38:48allow any
38:49country to
38:50dictate to
38:51us.
38:52At the same
38:52time what I
38:53was trying to
38:53tell you was
38:54that while
38:56we have been
38:56buying oil
38:56from Russia
38:57what I have
38:59been reading
38:59in the papers
39:00is that we
39:01have saved
39:01roughly 17
39:03billion dollars
39:03in the last
39:04three years.
39:05So we have
39:06the money.
39:07It is not
39:07that we
39:08haven't saved
39:09money.
39:09Now this
39:10is the time
39:11to come to
39:11the aid of
39:12our exporters
39:13and make
39:14sure that
39:15not one
39:16factory closes
39:17down in
39:17any of
39:18the segments.
39:21Labour
39:21intensive
39:22industries
39:23are very
39:24difficult to
39:25set up
39:25because that
39:26means training
39:27and retraining
39:28labour.
39:29It means
39:30retaining buyers
39:31first to
39:32cultivate those
39:32buyers and
39:33then to
39:33retain those
39:34buyers is a
39:34very difficult
39:35task.
39:36And overnight
39:37you cannot
39:37diversify.
39:38It takes
39:39sometimes five
39:40to ten years
39:41to break into
39:42markets.
39:43And today the
39:43fact is where
39:44can we break
39:45in?
39:46Most of the
39:47economies as I
39:48said to you
39:49in Europe
39:49they are not
39:51doing well.
39:52Australia is not
39:52doing that
39:53well.
39:54Japan is a
39:54very small
39:55market.
39:57So you
39:57cannot lose
39:58the American
39:59market.
40:00And yes
40:00while we have
40:02issues with
40:03America today
40:04I am sure
40:04it is only a
40:05matter of
40:05time.
40:06If we support
40:07our exporters
40:08in good time
40:10this issue of
40:13Ukraine and
40:13Russia will be
40:14solved and I
40:15hope then the
40:16punitive taxes
40:17that are being
40:18imposed on us
40:19the tariffs
40:19being imposed
40:21on us would
40:21be removed.
40:26And Rajdeep
40:27may I also add
40:28here.
40:28I wish we had
40:29more time.
40:30We will of course
40:31get you
40:31we will get you
40:33and we will get
40:36other voices in
40:38in the days ahead
40:39but for now I must
40:40leave it there.
40:41I appreciate Mr.
40:42Gujral, Mr.
40:42Sahai for joining
40:43me here on the
40:45news today.
40:45Let me turn
40:46from there to
40:48another of our
40:49big stories.
40:49Rahul Gandhi is
40:51on his big
40:52vote Adhikar
40:53Yatra to
40:54Bihar.
40:55Today there was
40:56a show of
40:56strength with
40:57Tamil Nadu
40:58Chief Minister
40:58M.K.
40:59Stalin joining
40:59him along with
41:00Rahul Gandhi's
41:01sister Priyanka
41:02Gandhi Badra.
41:03Rahul was in
41:03Muzaffarpur where
41:04he once again
41:05reiterated his
41:06charge of vote
41:07chori against the
41:08election commission
41:09and the BJP but
41:10he went a step
41:11further once again
41:12drawing in Donald
41:13Trump claiming that
41:14Trump had now
41:15claimed that
41:16Narendra Modi
41:17agreed to stop
41:18the India-Pakistan
41:20war at five
41:21hours notice after
41:23a phone call from
41:24Donald Trump.
41:25Remember Mr.
41:25Modi has denied
41:26in parliament that
41:27there was any call
41:28that he took from
41:29the US president
41:30during Operation
41:32Sindhu.
41:32Listen for a
41:33moment to what
41:34Rahul Gandhi said
41:35on his vote
41:35yatra.
41:38Trump
41:38has said
41:39today
41:39that
41:40Trump
41:41has said
41:42now there's been
42:08a lot of rhetoric
42:09in recent times
42:11over so-called
42:12vote chori
42:13political battle
42:15lines being drawn
42:16but in Maharashtra
42:18a state that went
42:19to the polls in
42:20November 2024
42:21a case has come
42:23wherein even
42:24before the elections
42:25took place
42:26a candidate from
42:27the Peasants Workers
42:28Party and Opposition
42:29Party had alleged
42:30that more than
42:3185,000 duplicate
42:33voters had been
42:34found in his
42:35constituency in
42:35Panvel and
42:36surrounding areas.
42:39This has triggered
42:40a storm.
42:41Why were these
42:42complaints made
42:43even before the
42:44elections took place
42:45not listened to
42:47by the election
42:48commission?
42:49And is Panvel a
42:50prototype of what's
42:52gone wrong with
42:53electoral rolls in
42:54different parts of
42:55the country?
42:56Today's special report
42:57is on Panvel and
42:59just why this
43:00constituency could
43:01become part of a
43:02wider tug of war
43:04over election
43:05irregularities.
43:06Take a look.
43:14Long before
43:16leader of
43:17opposition Rahul
43:18Gandhi alleged
43:19irregularities in
43:20voter list,
43:22a politician in
43:24Maharashtra has
43:25been fighting a
43:26battle claiming
43:27discrepancies in
43:28the electoral rolls.
43:29The fight began two
43:33months before the
43:342024 assembly
43:35elections in the
43:36state.
43:37Balram Patil,
43:39the Maharashtra
43:39Vikasagadi candidate
43:40from Panvel and
43:42his team studied the
43:43voters' list in
43:44Raigar district.
43:46Patil claims his
43:48team uncovered
43:4885,211 duplicate
43:51voter names across
43:53four constituencies.
43:5425,855 in
43:58Panvel, 27,275 in
44:02Uran, 16,096 in
44:04Iroli, 15,397 in
44:07Belapur and 588
44:09allegedly dubious
44:11entries.
44:12He approached the
44:14subdivisional officer,
44:16also the returning
44:17officer, to remove
44:18duplicate listings.
44:20Patil claims he got
44:21no response,
44:22prompting him to move
44:24the Bombay High
44:36Court.
44:38On October 18th, the Aurangabad bench of the Bombay High Court rejected a similar plea
45:01by Eknath Shinde's Shiv Sena MLA Chandrakant Patil, which he filed for Muktayanagar constituency in Jalgaon.
45:09The court pointed out that election dates were announced and cited the EC's inability to correct electoral rolls in such a short time.
45:18Patil claims that on October 23rd, Panvel's subdivisional officer, Pawan Chandak, rejected his plea, citing the Aurangabad court's decision.
45:31On November 28th, 2024, voting took place in the Maharashtra Assembly elections.
45:55Three days later, the result was declared.
45:57BJP's Prashant Thakur polled 1,83,931 votes.
46:05Balram Patil secured 1,32,840 votes.
46:10The BJP candidate won by a margin of 51,091 votes.
46:16While Patil disputes the outcome, MLA Prashant Thakur rejects the charge of multiple voting.
46:22Partil claims that his request for electoral rolls data and marked voter list from the assembly seats of Panvel,
46:43Urun, Arun, Aroli and Belapur were denied.
46:56He adds that his team analyzed votes cast in Panvel's seat.
46:59The 11,600 people who have released the list from the list from the people who have taken over the voting.
47:13I don't know how many people will come back to the election after the election of the election.
47:31Patil says he submitted his findings to Maharashtra's Chief Electoral Officer and the Chief Election
47:55Commissioner in June 2025 and is awaiting a response.
48:02The controversy over voter duplication has sparked widespread debate.
48:06Baharam Patil's claim points to systemic issues in voter roll management.
48:12But with legal and procedural hurdles, path to resolution remains unclear.
48:18So the question now is whether these allegations will prompt reforms to ensure free and fair
48:23elections in the future, with Cameraperson Sachin Sawant, myself with Vik Bhalekar for India
48:28Today Mumbai.
48:29A troubling story there from Panvel, clearly a need for an investigation.
48:38Let's turn from there to tonight's ground report which is coming from the flood-hit Jammu
48:42region.
48:43At least 34 people, mainly pilgrims, have died on the road to Vaishno Devi even as the region
48:49is battered by rains and rescue operations are underway.
48:53Sunil Bhatji reports from Jammu.
48:56Cloudbursts, landslides, flash floods.
49:15Nature has turned relentless tormentor in the hills of Jammu and Kashmir.
49:20For four straight days, the skies haven't stopped opening up.
49:24Torrential rains have pounded the region.
49:27Flash floods tear through villages.
49:30Bridges crumble like paper, electric poles snap, towers topple.
49:40Several bridges have also collapsed.
49:43One crucial collapse in Jammu city where cars were caught in the rubble.
49:51In Katra, disaster struck.
49:55Rain-triggered landslides hit along the Mata Vaishno Devi pilgrimage route.
50:01Many have lost their lives and several are yet to be rescued.
50:06Crime Minister Narendra Modi condoled the large-scale loss of lives.
50:13Puts and trains have been halted or cancelled after heavy deluge.
50:19While rescue operations are underway, millions remain cut off.
50:25The water level in the Chinab is flowing above the danger mark.
50:29The Solon River threatening habitations and banks of Tawi River.
50:36People who are stuck in flood waters are being rescued.
50:41Indian Army, Jammu and Kashmir police, NDRF, SDRF, CRPF and other agencies are working in
50:48close coordination and no stone is being left unturned when it comes to providing relief to the people.
50:57But situation is alarming.
50:59It continues to rain cats and dogs here in Jammu region.
51:04Jammu and Uddhampur have recorded their worst train fall ever in 24 hours.
51:12People living in low-lying areas have been asked to stay extra vigilant and avoid going
51:17near water bodies.
51:22With Sunil Jeebhat, Euroreport, India Today.
51:26Our thoughts and prayers there with the people of Jammu.
51:29To tonight's Get Real India story or should we call it only in India.
51:32An activist is walking from Mumbai to Goa with one purpose.
51:36He wants to map all the potholes on the road to expose the apathy of civic authorities and
51:43try and find a solution.
51:45Take a look at this unique story.
52:02Mumbai and potholes go hand in hand.
52:05This is NH66 that links the country's financial capital to the tourist hub Goa.
52:13The road is broken at many places.
52:16Images of vehicles negotiating the potholes are viral on social media.
52:23Now an activist has decided to say no more.
52:26Chaitanya Usha Lakshman Patan is on a Rasta Satyagraha walking from Mumbai capturing the highway's
52:33sorry state.
52:34Patal, who is an electronics engineer, started his mission in Raigarh.
52:41Patal, who is an electronics engineer, started his mission in Raigarh.
52:54Patal, who is an electronics engineer, started his mission in Raigarh.
52:58When I was in Raigarh, I was in Raigarh.
53:00I was in Raigarh.
53:01When I started to use online, I started to put people on the road.
53:03They said, we have a lot of questions.
53:05We have a lot of questions.
53:07This is why I took a lot of questions.
53:08I took a lot of questions.
53:09And when I got a CP gram and a count, I thought that I didn't have to stay here.
53:14The Mumbai Goa highway project began over 14 years ago, but is yet to be completed.
53:35The government has set a new deadline on March 2026 for the completion of the highway.
54:00Like everywhere, even this year, to celebrate Ganpati festival from Mumbai, people from
54:06Kunkan area will go to the villages in the same condition.
54:10They will take hours to reach there.
54:12It's said that road making business is a good business in India.
54:17Once you make a road, then there are potholes, then you earn to repair it and then continue
54:21the process till eternity.
54:22And this seems to be the condition with Mumbai Goa too.
54:26It's camera person, Sai Prasad Patil, Mulel Zalte, Mustafa Sheikh for India today.
54:34Some things in India will never change.
54:36Potholes are among them.
54:38Some things will never change for a positive sign too.
54:41And that's Ganesh Chaturthi.
54:42It's Vinayak Chaturthi today, the start of the festivities.
54:46Bappa has come.
54:47He's come to Mumbai and everyone is out there in their festive spirit.
54:51Ganpati Bappa Moriya is the chant that brings the people of Mumbai, rich and poor, all together
55:00to seek the blessings of the elephant god.
55:03I leave you on that note with all those images there and wish each and every one of you a happy
55:09Ganesh Chaturthi.
55:11Puchya Varshi, Lav Karya, we'll say in a few days from now.
55:16Now, just enjoy the festivities.
55:18Stay well, stay safe.
55:20Good night, Shubratri.
55:21Jai Hind.
55:22Namaskar.
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