00:00In a contest between the United States and China, the single most valuable asset is Indian
00:13data.
00:16If the Americans want to remain a superpower, please understand what I am saying, it is
00:24very profound what I am saying.
00:26If the Americans want to remain a superpower, and if the Americans want to protect their
00:32dollar, the key to that is Indian data.
00:38Why?
00:40Because the Chinese have a data pool of 1.4 billion people.
00:45And you can take European data, you can take African data, you can take American data,
00:49add it all up.
00:51It does not compete with Chinese data.
00:55So the real fight that is taking place, I am saying what is our strength?
01:00I am saying if India is going to go to the table, then what do we put on the table?
01:04What do we say?
01:05Listen, this is what we put on the table.
01:07And what we put on the table, it's beautiful, what we put on the table is our people.
01:17Their wisdom, what they do, their likes, dislikes, their imagination, their fear, this suddenly
01:27in the 21st century has got value.
01:30In the 20th century it had no value.
01:33I remember so many people saying that population is a weight, population is a disaster.
01:39No, population is the biggest asset you can have.
01:42It's a strength.
01:43But it's only a strength if you recognize that data is important.
02:01Now, what is surprising to me?
02:07What happened in the deal?
02:10If we were, if the India, first thing, second thing we would say, President Trump, if you
02:20want access to this data, then please understand that you are going to talk to us as an equal.
02:37Second thing we would say, Mr. Trump, please understand that our energy security is our energy security.
02:50And no matter what happens, we are going to protect our energy security.
02:57And the third thing we would say is, President Trump, we understand that you have a voter
03:05base, agricultural voter base.
03:09We understand that you need to protect your farmers, but we will also protect our farmers.
03:18Now let us talk.
03:21Meaning we would go there as equals.
03:26We would not be made equal to Pakistan.
03:32And if President Trump decided that Pakistan army chief is going to have breakfast with him,
03:40then we would have to, we would have something to say about that.
03:44Now what has happened?
03:47You've done a trade deal.
03:50It's small.
03:52It's written small in the back.
03:55Now let me tell you what is written about data.
03:58Our most valuable asset.
04:04The thing that is going to transform India in the 21st century, the thing that is going
04:09to make us a superpower in the 21st century, this is what the Modi government has done with
04:16our data.
04:18Number one, we give up control over our digital trade rules.
04:27Number two, there is no need for data localization.
04:35Number three, free data flow to the United States.
04:40Number four, limit on digital tax.
04:44Number five, no need to disclose any source code.
04:48The finance minister is smiling.
04:50She likes to smile.
04:52She likes to smile a lot.
04:5420 year free tax holiday to anybody who wants it, to the big tax company.
05:01This is what you've done on data.
05:05Second, no, I'll come to that, brother.
05:09Second, what have you done on tariffs?
05:14At the beginning, 3% was the average.
05:243% was the average.
05:27It has now gone up to 18%.
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