- 5 months ago
This episode of 5ive Live focusses on the escalating trade tensions between India and the United States following President Donald Trump's imposition of additional tariffs, bringing the total levy to 50% on Indian goods.
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00:00Trump Tariffs vs BRICS Block
00:09India-US Trade Talks Paused
00:12BRICS Nation Unite Against Trump
00:16Russia-Brazil-China Back India
00:21Prime Minister To Visit China For SEO Summit
00:26Countering Trump Brick By Brick
00:29That is our top focus on 5 Live
00:32Good evening and welcome to 5 Live
00:36I'm Pooja Oshali, thank you for tuning in
00:39Now while the world is talking about what Trump is up to
00:42especially with regard to tariff
00:44I'm going to tell you in this bulletin what India is up to
00:46vis-a-vis Russia and China
00:48Are we looking at a new global order?
00:59As US President Donald Trump's tariff tyranny continues
01:06Prime Minister Modi is also stepping up engagement on the side
01:10with fellow BRICS nations
01:11He is soon set to meet the Chinese Premier at the SEO Summit
01:15Now this could be the first step as is being seen by the experts
01:19toward pushing back against what many are now calling a bully Trump
01:23Can the group break Trump and his rhetorics brick by brick so to say
01:29In this special report, let's take a look of how BRICS is where our eyes will be
01:33There is no let-up in the tension between India and the United States over tariffs
01:43After President Donald Trump imposed additional 25% tariffs on India
01:48taking the total levy to 50%
01:50India is now exploring all other avenues
01:53New Delhi has a series of meetings lined up with leaders of BRICS nations
01:58Prime Minister Narendra Modi and Brazilian President Lula da Silva spoke over the phone on Thursday
02:04Brazil confirmed tariffs, trade and other global issues were discussed by the two leaders
02:09Trump incidentally has imposed the highest US tariffs in the world on India and Brazil at 50% each
02:16What President Trump is doing is tacit
02:24He wants to dismantle multilateralism where agreements are made collectively within institutions
02:30and replace it with unilateralism where he negotiates one-on-one with other countries
02:36I just want to warn Trump that tariffs will not lead anywhere
02:41Things will become more expensive for the Brazilian people
02:45Things will become more expensive for the American people
02:48Things will become more expensive for the world
02:51Brazil's open support for India comes just ahead of the Prime Minister's visit to China
03:02for the Shanghai Cooperation Organization Summit
03:05The PM is also likely to hold bilateral ties with Chinese President Xi Jinping
03:09Meanwhile, National Security Advisor Ajit Doval met Russian President Vladimir Putin on Thursday
03:18President Putin himself is expected to visit India sometime this year
03:23These developments come at a time when Trump has said that he wants a dispute over tariffs resolved
03:28Do you expect increased trade negotiations, you know, since you've announced the 50% tariff?
03:34No, not until we get it resolved
03:36And it's been deported that Indian Prime Minister Modi is set to visit China for the first time in seven years
03:42And Chinese Foreign Minister Wan-Ni has criticized the U.S. Taliban's imports on countries
03:46Including Brazil and India
03:48So are you concerned that China and other BRICS countries are trying to take the lead in organizing a kind of pushback against U.S. trade measures?
03:57Well, what I can say in terms of India is the President has been very clear in terms of the concerns he has
04:02Regarding the trade imbalance, regarding the concerns he has when it comes to the purchase of Russian oil
04:07As the trade war rages on, the BRICS bloc is resisting Trump's unreasonable tariff tyranny
04:14Bureau Report, India Today
04:16Is the tide turning?
04:24It's a big statement that has come in from China vis-a-vis India
04:27China welcoming Indian Prime Minister Narendra Modi to China
04:30For the Shanghai Cooperation Organization
04:32This is the challenge in summit
04:34Supported, and I'm going to now quote from the statement from China's Foreign Ministry
04:39China welcomes Prime Minister Modi to China for the SCO summit
04:43We believe that with the concerted effort of all parties
04:46The Tianjin summit will be a gathering of solidarity, friendship and fruitful results
04:51SCO will enter a new stage of high quality development
04:55And of course featuring these top leaders
04:57So that's the big statement that has come in from Chinese Foreign Ministry
05:01Saying not only welcoming Prime Minister Modi
05:03But believing that a gathering of solidarity
05:07Listen to the words
05:08Gathering of solidarity, friendship and fruitful results
05:12Remember China also did face a certain high tariff threat
05:16Even though it was eventually pulled back
05:18Russia is facing threats and sanctions
05:21And then of course now India
05:23First with 25% and an additional 25% tariff being imposed
05:27India Today's editor, India Today Global
05:30Pranay Upadhyay joins me for the latest on that
05:32Pranay, how should one look at China's Foreign Ministry statement
05:36We may not be able to trust them fully
05:39But do you think it's about a tight turning
05:41Possibly against Trump
05:43China might be trying to have an exhibition of solidarity
05:49China might be trying to express solidarity with India
05:53On this tariff sanctions by US President Donald Trump
05:56But on the other side
05:59Look, we also have to look at the fact
06:01That China is also dealing with the United States
06:04And if you have heard US President Donald Trump
06:06Saying that his talks with China are progressing well
06:09On 31st of July
06:11The reciprocal tariff list
06:12Which was issued by the White House
06:14Doesn't mention about China
06:16So nobody knows how much tariffs they are paying right now
06:19So it sounds, you know, it sounds easy to hear that
06:27You know, they are expressing solidarity with India
06:29But on the other side
06:30Yes, you rightly pointed out that we can't trust
06:32And also, as far as this statement is concerned
06:35That they are, you know, they want to welcome Prime Minister Narendan Modi
06:38Yes, they are a host of Shanghai Cooperation Organization
06:41And in Tianjin, the summit meeting is scheduled
06:44In all likelihood, Prime Minister Narendan Modi is, you know, scheduled to travel to Tianjin
06:50And this will be his, you know, first visit after 7 years
06:53Especially after the Galwan incident
06:55So, this visit, if happens
06:57Definitely China has expressed the intention
07:00That this visit is going to improve the bilateral relation between India and China
07:04And definitely, Prime Minister Narendan Modi will be visiting China after 7 years
07:08Because last he visited, pre-COVID and in 2018, April 2018
07:14When he went to Wuhan
07:15And then, at that point of time
07:18Chinese President Xi Jinping and Prime Minister Narendan Modi had an informal summit
07:21So we do not know whether this time they will have an informal summit
07:24Or will we be reinstating the process or the, you know, engagement of informal summit
07:31Between the two leaders
07:32But yes, China, if you see the activities by the Chinese embassy
07:36In New Delhi, the Chinese Foreign Ministry statement
07:38They are very actively reacting to what is happening between India and United States
07:44So, you know, you have to take it with a pinch of salt
07:47And at least the USA, I'm sure, is also watching what is unfolding
07:49Stay on with me, Pranay
07:51I'll come back to you in just a short while
07:53Because we have some more news coming in
07:54Let's take a look at this
07:56This is what sources are telling India today
07:58What would be India's strategy specifically
08:00Let's take a look at that
08:01No decision on India-US defence deals after the tariff hike
08:07The big scoop on India today right now
08:10We are telling you about the defence deals that India is planning with the USA
08:15Could there be a pullback on that?
08:17The status quo on defence procurement is maintained
08:21No decision on cancelling defence deals with America so far
08:25And I say this because there had been a certain speculation in the last few hours, if not days
08:31That India could pull back from certain big defence deals
08:34No formal confirmation on defence minister's visit to America also
08:38And that means for now, the deals continue
08:42My colleague Shivani Sharma joins me on that big breaking news
08:45She's been closely tracking the defence sector
08:47I believe that this is with the speculation for the Boeing and other defence deals as well Shivani
08:54What are you picking up about how and why for now India says
09:00We are keeping it on hold, it's maintained
09:02The status quo is on, we are not cancelling it
09:05See Pooja, what the sources have told India today
09:09Specifically after these reports have been emerging
09:11And the speculations about a number of deals
09:13Including the PA ties for the levy that are on the table
09:16Including other deals that are also under planning
09:20So what the sources have told India today is that
09:23There is no reaction as of now from India when it comes to the defence deals
09:27Whatever which was going on is still going on in a similar manner
09:31So no decision has been taken
09:33Especially after Donald Trump has announced a high tariff against India
09:38And defence deals are not impacted as of now
09:42But yes, certainly the situation remains fluid
09:45So India is not cancelling any deals that it was into with the United States
09:52And remember Pooja, there were a lot of speculations
09:54After US President Donald Trump had announced about these tariffs
09:58Especially when it comes to F-35
10:00So let us clarify that there was no process into which India had proceeded
10:07When it comes to the F-35 procurement
10:09There was no mention, there was no formal formulation on this deal
10:14Except for one mention when the President had mentioned
10:17When Prime Minister was there in the United States
10:19Because you know there is a proper structure
10:21A proper process that is being followed
10:24When a weapon system or a platform or an aircraft is to be procured from another country
10:31So when we did not get into any formal deals
10:34There is no point of cancelling these
10:36And besides this, there are a number of projects
10:39There are still negotiations are going on for
10:42And I have been speaking and keeping a close track on this
10:46Especially after these reports have been coming
10:48And also can India react in a haste right now
10:52Especially on some of the big deals that may benefit us eventually
10:55Stay on with me Shivani
10:57I want to bring in Pranay also here
10:58Pranay, I am sure there is a lot of pressure on the Indian government
11:01Especially Prime Minister Modi
11:03To act in a certain way
11:04So that we look like we are not intimidated
11:07By Donald Trump's antics and rhetoric
11:09When it comes to defence deals
11:11What are you picking up about India's strategy
11:13And especially where Trump is going to pile on with more pressure
11:17You know, Pooja, that the way US President Donald Trump
11:22Pushed the envelope of F-35 fighter jets
11:26Though as Shivani rightly pointed out
11:28That we have a well structured process
11:31To acquire any platform from any foreign vendor
11:34Or any foreign government
11:36So obviously we are going to follow that process
11:39But as far as the other platforms are concerned
11:41We know for the fact that
11:42You know, the additional order of P-8Is
11:44The maritime reconnaissance aircraft
11:46The upgrade order for C-17s
11:49The additional order of C-130Js
11:51So that was all scheduled
11:53And also a big agreement
11:55For another, for several, next 10 years
11:58To be signed between India and United States
12:00Which is a defence partnership agreement
12:02So we do not know
12:03There are no confirmation on that
12:05Because last time
12:06When Raksamati Rajnath Singh
12:08Had a, you know, phone call
12:09With his defence counterpart
12:11His US counterpart
12:13Pete Hegseth
12:13It was agreed
12:14That soon both countries are going to sign
12:17A defence partnership agreement
12:18For next 10 years
12:20So we have to see
12:21That how that thing progress
12:23Because India and United States
12:24They have the defence technology initiative
12:27DTTI
12:27They have, you know
12:29Other spheres of defence partnership
12:31We have, you know
12:33For the Tejas programme
12:35We have, like, you know
12:37Engine deal
12:38Which is there
12:39From the GE
12:40So there are various aspects of it
12:43We have to see that
12:44You know
12:45Are we putting all the defence acquisition
12:47From United States on hold
12:48That is going to be a very big thing
12:50And that will have a very long term
12:52And I am sure there are deliberations
12:54Discussions
12:54Because Pujain
12:55Last few years
12:56Go ahead
12:56Finish your point
12:5724 billion dollar worth of
12:59Military hardware and defence equipments
13:01India has bought
13:01India has purchased
13:02From the United States
13:03So we have to be mindful
13:04About those things
13:05Because you will be
13:06Requiring the
13:07Follow on orders
13:08As well as the maintenance
13:09Of those platforms
13:10Alright
13:11Thank you very much Shivani
13:12For now
13:13Pranay please stay on with me
13:14So remember that
13:15There will be a lot of issues
13:16On the sidelines as well
13:17Trump of course
13:18Is going on a rant
13:19On a daily basis
13:21However
13:21India will have to think through
13:22About how it wants to go
13:24At least across with the deals
13:25That will benefit us eventually
13:27Now the fact is
13:28That United States of America
13:29Is the world's largest economy
13:31Right now
13:31India is fourth largest economy
13:33Of the world presently
13:34How do we then counter Trump
13:37Brick by brick
13:38And I say that
13:39Literally
13:40And of course
13:41With regard to the
13:42Brick summit
13:42Now the economic diversification
13:45That hedges against
13:46US trade shocks
13:47And dollar risks
13:48So this is where
13:49It comes in about
13:50India's strategy
13:51There could be
13:52A multilateral leverage as well
13:53Boosting India's stature
13:55In the global south
13:56So you see how
13:57There are countries
13:57In the global south
13:58Of which India
13:59Is being seen as the big voice
14:01Autonomy in finance
14:03Building alternatives
14:05To dollar dependence
14:06Now this also
14:08Ruffled feathers
14:09For the Trump administration
14:10Is there another currency
14:12Or a certain system
14:13Financially
14:14That some of these countries
14:15In the bricks
14:16Are beginning to build
14:17But there is need for caution
14:19Avoid over reliance
14:22On the bricks
14:23Because there is
14:24After all
14:25China's influence
14:26That needs to be looked at
14:27We know that
14:28China will like to become
14:29Friendly with India
14:31In the next few years
14:32Especially with regard to
14:33How the global order
14:33Is coming in
14:34But we also know
14:35If it's expansionist
14:36Aggressive nature
14:37Especially with our border issues
14:39Pranay comes in here
14:40Pranay let's talk about that
14:42We know that
14:43NSA
14:43Is presently in Russia
14:45Met Vladimir Putin
14:47We also understand
14:48Prime Minister's
14:49Visit to China
14:50How do you think
14:51This is going to become
14:52Perhaps a new order
14:53Do you see that
14:54Do you think that is possible
14:56At this juncture
14:57And how should India
14:58Proceed really
14:59To at least counter
15:00The USA hegemony
15:01You know Pooja
15:03I think India
15:04Is going to continue
15:05The strategic autonomy
15:06Of foreign policy
15:07What we have been
15:08Persuying for last
15:09For last many years
15:11Yes
15:12Because for India
15:14Russia is a privileged
15:16You know special
15:17Strategic partner
15:18US is a comprehensive
15:20Global strategic partner
15:21For you know
15:22This may be
15:22This may be
15:23A temporary phase
15:24Between India
15:25US relation
15:25But as far as
15:27The investment
15:27In this relationship
15:28Is concerned
15:29Both Democratic Party
15:31And Republican Party
15:32Have invested
15:33In US
15:34In India as well
15:35The India-US partnership
15:37Has enjoyed
15:37Bipartisan support
15:39You know
15:39Be it UPA government
15:40Or be it NDA government
15:41So we have to
15:43Navigate this situation
15:44I do not see
15:44A realignment
15:45Of Indian foreign policy
15:46But yes
15:47As far as
15:48The NSA
15:49Ajit Doval's
15:50Visit to Moscow
15:51Is concerned
15:51Russian President
15:52Vladimir Putin
15:53Is slated to
15:54Visit India
15:55By the end
15:57Of this year
15:57And these are
15:58The preparatory meetings
15:59This is a usual
16:00Usual process
16:01Indian foreign minister
16:02External affairs minister
16:03S.J. Shankar
16:04Is also
16:04Scheduled to visit
16:06I think
16:06Later this month
16:08Or early next month
16:09He will also
16:11Be visiting
16:11And if prime minister
16:13Travels
16:13The indications
16:14We are getting
16:14Is that he might
16:15Also go to Japan
16:16Which is also
16:18A quad partner
16:19For India
16:19So India
16:20Will always try
16:21And balance
16:22The relationship
16:22Because we have
16:23Long pursued
16:24The non-aligned movement
16:25Or like we are not
16:26In ally position
16:27Or any one camp
16:29Right since
16:30From the cold war era
16:31To this era
16:33Of multipolarity
16:34India is a strong
16:35Advocate of multipolarity
16:36Cold war to multipolarity
16:38And how India
16:39Will head here
16:40Remember India
16:40Right now
16:40Not just about
16:41An independent nation
16:42But fourth largest economy
16:44And is building
16:44In itself
16:45The kind of
16:46Atmanirbhar Bharat
16:47That we are becoming
16:48To have our own policy
16:49In place as well
16:50Pranay thank you very much
16:51Appreciate you joining us
16:52For the latest on that
16:53But here's the fact
16:54That has the Trump
16:56Administration
16:57Not really looked at
16:58Tariff increased
16:59Against India
17:00Sure
17:00But doesn't that mean
17:02That it will also
17:03Be a burden
17:04On American taxpayer
17:06They will also
17:07Have to empty
17:08Their wallets
17:08When they buy
17:09Indian
17:10Imports that come in
17:12Textiles and clothing
17:14The bilateral trade
17:15On this sector
17:16Between India
17:17And the US
17:18In 2024-25
17:19Was about
17:1910 billion dollars
17:21But the prices
17:22In USA
17:23May also surge
17:24Up to 60%
17:25After the tariff
17:26Is increased
17:26On Indian products
17:27Carpet and furniture
17:29Remember some of
17:30These things
17:31Are very crucial
17:32And not available
17:34In the market
17:34For America
17:35The bilateral trade
17:36Then was about
17:362.32 billion dollars
17:38Price may surge
17:39Up to 50% again
17:40The Americans
17:41Will have to empty
17:42Their wallet on that
17:43Jewelry and gems
17:45Very crucial
17:45Bilateral trade
17:46Was about
17:4612 billion dollars
17:48In 2024-25
17:49Between India
17:50And the USA
17:50Again
17:51Price may surge
17:52In the USA
17:53Up to 52%
17:55Machinery and electronics
17:57Bilateral trade
17:58Was about
17:589 billion dollars
17:59Between both nations
18:00Again
18:0152% surge
18:02Is expected
18:03In the USA
18:04When the products
18:04Arrive
18:05Organic chemicals
18:06On that
18:07The trade
18:07Was about
18:082.34 billion dollars
18:09And again
18:10There could be
18:11A surge
18:11In America
18:12To about
18:1255%
18:13Even shrimps
18:15Seafood
18:15Bilateral trade
18:16Was about
18:172.24 billion dollars
18:19Prices in the USA
18:20May surge
18:20Up to 50%
18:22So we are
18:22Quoting
18:23From different
18:23Sectors
18:24That there
18:24Could be
18:25An increase
18:25On India
18:26Products
18:27With a kind
18:27Of level
18:28Of bilateral
18:29Trade
18:29That happens
18:30When the
18:30Products
18:31Reach the USA
18:32Will that
18:33Hit the wallets
18:33Of Americans
18:34As well
18:35What are
18:36Our top
18:36Leaders
18:36Saying
18:37And these
18:37Are
18:38Remember
18:38Exclusive
18:39Conversations
18:39That have
18:40Happened
18:40Through the
18:40Day
18:41Listen
18:41In to
18:41Union
18:42Minister
18:42Nitin
18:43Gadkari
18:43About
18:44The
18:44Imposition
18:44Of
18:44Additional
18:45Taxes
18:45By
18:46Donald
18:46Trump
18:47Speaking
18:47To
18:48India
18:48Today
18:48Television
18:49At
18:49The
18:49Business
18:50Today
18:50Summit
18:51You
18:57Have
18:57Talked
18:58About
18:59Exports
18:59You
19:00Do you
19:00think
19:00That
19:01What
19:01In
19:02America
19:04Is
19:04There
19:05Is
19:07Is
19:07Any
19:07Dispatch
19:08Our
19:09Economy
19:09And
19:09Our
19:09Exports
19:10See
19:11I
19:11Tell
19:11You
19:11One
19:11About
19:12America
19:14And
19:14Policy
19:15Is
19:16Tip
19:16Not
19:16But
19:18I
19:18Tell
19:19You
19:20When I became a minister, the number of our Atobel sector was the 7th number of our Hindustan's Atobel sector.
19:28Now, 6-7 months ago, we went back to Japan and came to the 3rd number.
19:34The first number of America is 78 lakh crores, the second number of China is 49 lakh crores, and in Hindustan is 22 lakh crores.
19:45Now, I will tell you an interesting thing, that our Atobel sector has 4.5 crores of U.A.O.
19:54and the government and the government are the biggest revenue in GST.
20:01Our country is the biggest export in this sector.
20:05And our two-billar industry, Bajaj, TVA, Ciro, Honda, this is 50% production.
20:13Now, the chairman of Mercedes, I met a month before a month.
20:17And now, they converted to electric and said that we are manufacturing center in Hindustan.
20:23Now, the cars of Maruti Suzuki, their cars, Toyota, Hyundai, they have big exports.
20:32Now, there has been a big change in our country.
20:36In our country, electric, ethanol, methanol, biodiesel, LNG, CNG, and hydrogen,
20:43alternative fuel and biofuel, there has been a big work.
20:46Our country will be 22 lakh crores.
20:49Now, the new technology, what is the problem?
20:52What is the problem?
20:53What is the problem?
20:54You will remember, because you are interviewing me from 11 years old.
20:57And in this work, in your work,
21:00I was asked for a friend,
21:02I was asked for a friend of mine,
21:05that if it will be closed on the electric cars,
21:08then you will have to kill us.
21:11Now, this was the beginning of the time.
21:14People were confused.
21:15Now, it was so popular in electric cars,
21:18that there is a waiting list of electric cars.
21:20Electric buses are 50,000 in the country.
21:23In this country, the requirement is 1,000,000.
21:25Electric tractor, electric truck,
21:27all the electric trucks are coming.
21:29Now, I will tell you the best thing,
21:32that in the battery chemistry,
21:34the price of lithium-ion battery,
21:36when we started electric vehicles,
21:38it was 150 dollars per kilowatt per hour.
21:42And today, in our country,
21:44the price of 55 dollars per kilowatt per hour.
21:48That means, the battery of electric battery is low.
21:51In one bus, the battery was 40,000,000.
21:55Now, you understand that it will be 1.30,000.
21:58So, it is not far away,
21:59that the price of petrol, diesel and electric vehicles
22:02will be reduced.
22:04The hydrogen is also coming back.
22:06Now, in the battery chemistry,
22:08lithium-ion, zinc-ion,
22:10aluminum-ion, sodium-ion,
22:12our young girl is doing so good,
22:15that they are doing so new research,
22:18that I believe that we have the market of the world.
22:21We have a little bit on one or two countries,
22:23we have a little bit on that.
22:25In our whole African country,
22:26we have two wheelers,
22:28in Sri Lanka, in Bangladesh,
22:30we have two wheelers,
22:31we have two wheelers,
22:32we have a tractor.
22:33So, in the future,
22:34in the automobile sector,
22:36I went to the construction equipment conference,
22:40and I called all OEM and said,
22:43that the government is standing behind all the people.
22:46There are difficulties.
22:47There are difficulties in the semiconductor.
22:49So, we have prepared this for this.
22:53Now, the problem is,
22:54we have 1200 tons of lithium-ion.
22:59Now, we have a new mining policy,
23:02we are trying to make a new mining policy,
23:04that our mining mentor and the Prime Minister said,
23:07that we will get this quickly,
23:09because we have lithium,
23:11we are importing lithium.
23:12We have gold,
23:14we are importing gold.
23:15So, we will start with our country,
23:17and we will start with our country,
23:19and we will start with our mining.
23:21And we will start with 1200 tons of lithium,
23:23which we think is more than ever.
23:25So, this will be prepared in our country.
23:27So, I feel like it is,
23:28in every region,
23:29I am telling you,
23:30with me,
23:31I am telling you.
23:32In hydrogen,
23:34in our flex engine car,
23:36I have been sitting in your hotel.
23:38It is the first Innova car.
23:40It is standing down.
23:42It is 100% of bioethanol,
23:44it is 60% of bioethanol,
23:47and we will start with the average of petrol,
23:50so,
23:51it will be 25 liters of petrol.
23:53That means,
23:54it is the benefit of consumers,
23:55it is the benefit of production,
23:56it is the benefit of imports,
23:57it is the benefit of farmers,
23:59it is the benefit of farmers.
24:00So, overall,
24:01we are looking forward to this country.
24:05I feel like the whole world is for us,
24:08and we have an expectation,
24:10that in the world,
24:12the quality of the quality,
24:14and the reward of giving cost,
24:16is in very little,
24:17less than two countries.
24:19But in those countries,
24:20Bharat,
24:21will be moving all the way,
24:23and the world market will get us,
24:25and our economy will become successful.
24:28That is my faith.
24:29So, stay tuned,
24:31through the evening,
24:32we are going to bring you,
24:33important exclusive conversations,
24:35with top leaders,
24:36and of course,
24:37the business honchos.
24:38India Today's consulting editor,
24:39Rajdeep Sardisai,
24:40meanwhile,
24:41spoke exclusively to Congress,
24:42to Nandpuram,
24:43MP Shashi Tharoor,
24:44who also led the diplomatic delegation,
24:46to the USA,
24:47on Trump tariffs,
24:48and how India should deal,
24:50with the United States of America.
24:51Listen in to this exclusive candid conversation.
24:59Shashi Tharoor,
25:01Senior Congress MP,
25:02and Chairperson,
25:04of the Standing Committee,
25:05on External Affairs.
25:07Appreciate your joining us,
25:08Dr. Tharoor.
25:09You've taken a very strong stand,
25:10on what America has done.
25:12You seem to suggest,
25:13that if the United States,
25:14puts 50% tariffs on India,
25:16India should retaliate,
25:18with equal tariffs on United States.
25:20You want to explain your position,
25:22Dr. Tharoor?
25:23Well, I mean,
25:24Mr. Trump likes to speak,
25:26about reciprocal tariffs.
25:28That is reciprocity.
25:29So, if indeed,
25:30on the 27th of August,
25:3350% kicks in,
25:34I see absolutely no reason,
25:36why India should not,
25:38insist on reciprocity.
25:41That's the principle that's involved.
25:43But that's a subsidiary point,
25:45Rajdeep.
25:46There's still three weeks to go,
25:47almost.
25:48And we need to put those three weeks,
25:50to good use,
25:51by negotiating effectively,
25:52which I believe,
25:53our negotiators are going to do.
25:55But we'll have to do this,
25:56obviously,
25:57with a certain amount of,
25:58shall we put it bluntly,
26:00a certain amount of resolve,
26:02that if necessary,
26:03we're going to have to walk away.
26:05We are simply far too proud,
26:07an independent a country,
26:08to be allowing ourselves,
26:10to be subject to being browbeaten,
26:12or bullied by anybody.
26:14And as far as I'm concerned,
26:16these may be merely,
26:17idiosyncratic negotiating tactics.
26:20You all know that Mr. Trump,
26:22has a reputation,
26:23for clinching deals,
26:24in somewhat unusual ways.
26:26And this may merely be,
26:28a way of putting pressure on us.
26:30But nonetheless,
26:31the way it was done,
26:32was demeaning,
26:33and belittling,
26:34with the kind of language used.
26:36Secondly,
26:37it was unfair,
26:38because now,
26:39we have even China,
26:40which buys,
26:41far more oil and gas,
26:42and has a far bigger,
26:44trade relationship,
26:45with the US,
26:46with the Russians.
26:48China is going to be,
26:50at 30% on the 27th of August,
26:52and we're going to be,
26:53at 50%.
26:54So, I mean,
26:55it's just,
26:56completely upending,
26:57the entire notion,
26:59of a strategic relationship,
27:01with India,
27:02versus a competitive rivalry,
27:03with China.
27:04To my mind,
27:06if Mr. Trump,
27:07can cast us,
27:08so lightly to the winds,
27:10then we do have,
27:11some serious rethinking,
27:12to do as a country.
27:18There are two parts,
27:19from what you've said,
27:20that I want to come to,
27:21one by one.
27:22The first,
27:23is,
27:24you seem to suggest,
27:25retaliatory tariffs,
27:26as a way,
27:27to sort of,
27:28look up,
27:29and stand up,
27:30to the bully.
27:31Now,
27:32I've spoken to a number,
27:33of economists,
27:34of war,
27:35let's keep,
27:36the temperature down,
27:37let's cool things down.
27:38Do you agree,
27:39that that could be,
27:40one way to do,
27:41things,
27:42because the moment,
27:43you get into,
27:44retaliatory tariffs,
27:45then you're getting,
27:46into a,
27:47a tariff war,
27:48that can spiral,
27:49out of control.
27:50So that's the first part,
27:51that I want to ask you.
27:52Radheep,
27:53okay,
27:54so on that,
27:55let me say,
27:56first of all,
27:57I'm not suggesting,
27:58any immediate reaction.
27:59I'm not even suggesting,
28:00that we should,
28:01immediately announce anything.
28:02All I'm saying,
28:03we are literally,
28:04one of two countries,
28:05on the entire planet,
28:06that's paying 50%.
28:08You can be pretty sure,
28:09that the bottom,
28:10is going to drop out,
28:11of our exports,
28:12to America anyway.
28:13Because,
28:14how many people,
28:15who are importing,
28:16Indian goods,
28:17in America,
28:18going to be prepared,
28:19going to be prepared,
28:20to pay 50% premium,
28:21when our competitors,
28:22including Vietnam,
28:23Indonesia,
28:24even Pakistan,
28:25and Bangladesh,
28:26are 20% or lower.
28:2719% in some cases,
28:2915% in some.
28:30So,
28:31why would anyone,
28:32buy anything from India,
28:33at that point,
28:34if we are at 50?
28:35So,
28:36in any case,
28:37at that point,
28:38I think we should,
28:39make it very clear,
28:40that,
28:41if you do this to us,
28:42we will do it to you.
28:43If we don't,
28:44we are essentially,
28:45what is the point,
28:46of being cool,
28:47when you've got,
28:48a 50% tariff on you?
28:52I now take you back,
28:53to the business today's summit,
28:55titled,
28:56India's Future.
28:57Regarding how,
28:58US President,
28:59Donald Trump,
29:00also took the dead economy,
29:01dig at India,
29:02after slapping,
29:03the 25% tariff,
29:04here's what,
29:05former Neeti Aayog CEO,
29:06Amitabh Kanth,
29:07had to say,
29:08on this,
29:09exclusive conversation,
29:10at the summit.
29:13You know,
29:15you have spent,
29:16a lifetime,
29:17in government,
29:18you also organized,
29:19the G20 summit,
29:20you led that,
29:21massively successful event.
29:23What went wrong,
29:24from that high,
29:26of India's diplomacy,
29:27at the global stage,
29:29to this low,
29:30of,
29:31President Trump,
29:32unfairly,
29:33calling India,
29:34a dead economy?
29:35So,
29:36first of all,
29:37let me,
29:38put some facts,
29:40before,
29:41your audience.
29:42India is,
29:43India is,
29:44anything but,
29:45a dead economy,
29:46because India is,
29:47the fastest growing,
29:48large economy.
29:49We are,
29:50the fourth largest,
29:51economy,
29:52in the world.
29:53We will,
29:54shortly be,
29:55the third largest,
29:56economy,
29:57in the world.
29:58More than,
29:59anything else,
30:00India's,
30:01carried out,
30:02very major,
30:03structural,
30:04reforms,
30:05in its,
30:06economy.
30:07The goods,
30:08and services tax,
30:09we've,
30:10also,
30:11digitized,
30:12our economy,
30:13enormously.
30:14We've,
30:15been,
30:16building,
30:17our infrastructure,
30:18in a very big way,
30:20which no other country,
30:21has done,
30:22in terms of,
30:23housing,
30:24toilets,
30:25providing electricity,
30:26connection,
30:27to our citizens,
30:28water connection,
30:29for our citizens,
30:30plus,
30:31building about,
30:3288,000 kilometers,
30:33of road.
30:34the country,
30:35has done that,
30:36in recent times.
30:37We've also,
30:38gone green,
30:39in a very big way.
30:40No,
30:41no other country,
30:42in the world,
30:43has a digital identity,
30:44for its,
30:451.5 billion people,
30:46plus,
30:47the highest number,
30:48of,
30:49fast payments,
30:50that we do.
30:51We do about,
30:5245% of the real time,
30:53fast payments,
30:54in the world.
30:55So these,
30:56there's been a huge,
30:57huge impetus,
30:58to growth.
30:59So we have anything,
31:00but a,
31:01dead economy.
31:02And,
31:03it's not that,
31:04India misread,
31:05Trump,
31:06but,
31:07I think,
31:08Trump has,
31:09misread,
31:10India.
31:11And,
31:12I think,
31:13in the long run,
31:14the second point,
31:15I want to say,
31:16is that,
31:17actually,
31:18if you look at,
31:19free trade,
31:20the biggest,
31:21beneficiary,
31:22of free trade,
31:23has been,
31:24the United States,
31:25of America.
31:26It controls,
31:2726% of the global GDP.
31:29It,
31:30has 48% of the market,
31:31capitalization,
31:32with 4% of the population.
31:34So,
31:35if anyone,
31:36has benefited,
31:37from free trade,
31:38from the existing,
31:39world orders,
31:40the United States,
31:41of America.
31:42It's moved on,
31:43from traditional,
31:44manufacturing,
31:45to a post industrial,
31:46society.
31:47And,
31:48therefore,
31:49it's become,
31:50an innovative,
31:51society,
31:52which has been,
31:53driving,
31:54growth,
31:55through research,
31:56and development.
31:57very big,
31:58beneficiary,
31:59all its companies,
32:00have been,
32:01very big,
32:02beneficiary,
32:03of free trade.
32:04Also,
32:05remember,
32:06the pharma,
32:07and agriculture sector,
32:08especially,
32:09dairy,
32:10have been,
32:11kept out,
32:12India,
32:13will do everything,
32:14to protect,
32:15especially,
32:16its agriculture sector.
32:17this.
32:22Dr. Aluwali,
32:23the Prime Minister,
32:24in particular,
32:25has drawn a red line.
32:26He said that,
32:27I will,
32:28do whatever it takes,
32:29to protect the interests,
32:30of Indian farmers.
32:31Now,
32:32one of the big sticking points,
32:33for a,
32:34full blown trade deal,
32:35with the United States,
32:36could well be,
32:37in areas of agriculture,
32:38and dairy.
32:39Do you agree,
32:40that,
32:41we,
32:42given the state,
32:43of our economy,
32:44given the fact,
32:45that the farmers constitute,
32:46a constituency,
32:47in this country,
32:48we will always,
32:49need an element,
32:50of protectionism,
32:51for our agriculture,
32:52and dairy sector.
32:53I think,
32:54look,
32:55in every country,
32:56agriculture,
32:57and farmers,
32:58are politically,
32:59very special.
33:00So,
33:01I think,
33:02the idea,
33:03if you're going,
33:04to do reforms,
33:05I think,
33:06there are a lot,
33:07of reforms,
33:08needed in agriculture.
33:09But,
33:10I think,
33:11you should not,
33:12be doing reforms,
33:13in agriculture,
33:14seeing to be pushed,
33:15by others.
33:16Again,
33:17it,
33:18it would not,
33:19surprise me,
33:20at all,
33:21if the,
33:22we,
33:23I,
33:24I hope,
33:25our negotiators,
33:26are telling,
33:27our other side,
33:28that,
33:29look,
33:30agriculture,
33:31is a sensitive subject.
33:32Nothing,
33:33is ever written,
33:34in stone.
33:35But,
33:36this is not,
33:37something,
33:38that should be done,
33:39as a result,
33:40of trade negotiation.
33:41Now,
33:42you know,
33:43agricultural issues,
33:44including,
33:45I think,
33:46things like,
33:47let's say,
33:48allowing GM food.
33:49Now,
33:50you know,
33:51at the moment,
33:52we're not allowing,
33:53Indian farmers,
33:54to benefit,
33:55from GM technology,
33:56because we haven't,
33:57made up our mind.
33:58allowing import,
33:59of GM foods,
34:00from outside,
34:01if you're not,
34:02allowing it,
34:03to be done inside.
34:04But,
34:05I've heard many,
34:06economic commentators,
34:07say that,
34:08agricultural reform,
34:09is necessary.
34:10And,
34:11yet,
34:12when the prime minister,
34:13pushed ahead,
34:14a few years ago,
34:15with farm laws,
34:16the backlash,
34:17that eventually,
34:18forced him,
34:19to push back,
34:20on those same reforms.
34:21So,
34:22is part of the challenge,
34:23even now,
34:24to build that,
34:25political consensus,
34:26first,
34:27and then go ahead,
34:28with the reform.
34:29Even in 1991,
34:30you didn't have,
34:31a political consensus,
34:32when you went ahead,
34:33with the reforms.
34:34So,
34:35what comes first,
34:36reforms,
34:37and then political consensus,
34:38or do you build,
34:39a political consensus,
34:40and then go ahead,
34:41with your reform?
34:42No,
34:43no,
34:44it's quite clear,
34:45abstraction.
34:46Okay?
34:47So,
34:48where there are,
34:49political problems,
34:50you need to work,
34:51in advance,
34:52towards,
34:53solving those problems.
34:54I think we've left,
34:55too many things,
34:56in agriculture,
34:57somehow,
34:58outside discussion.
34:59And,
35:00I think we need to have,
35:01an internal discussion,
35:02on that.
35:03I don't,
35:04somehow,
35:05think that,
35:06these are areas,
35:07which are best pushed,
35:08through trade negotiations.
35:09In the trade area,
35:10there are other things,
35:11we can negotiate,
35:12and that's where,
35:13we should concentrate on.
35:14shockwaves,
35:15across the national capital.
35:16Actress,
35:17Huma Qureshi's cousin,
35:18Asif Qureshi,
35:19a resident,
35:20of the Nizamuddin area,
35:21was brutally,
35:22stabbed to death,
35:23by two brothers,
35:24the accused name,
35:25have surfaced,
35:26Ujwal and Gautam,
35:27after a heated argument,
35:28over parking.
35:29A petty issue,
35:30really.
35:31Now,
35:32according to,
35:33the deceased's wife,
35:34and eyewitnesses,
35:35this scuffle began,
35:36visuals on your screen,
35:37look at that.
35:38Asif Qureshi,
35:39asked for,
35:40inside his house,
35:41to be moved away.
35:42The minor scuffle,
35:43water of words,
35:44quickly turned deadly.
35:4511pm,
35:46Thursday night,
35:47these two young men,
35:48and when I say young men,
35:49literally teenagers.
35:50The brothers,
35:51launched a sudden,
35:52and violent attack,
35:53stabbing Asif Qureshi,
35:54with a sharp weapon.
35:55He was rushed,
35:56to hospital,
35:57by the onlookers,
35:58dead on arrival.
35:59Police have arrested,
36:00both accused,
36:01Ujwal and Gautam.
36:02One of them reportedly,
36:03even a history sheeter.
36:04Over an issue of parking,
36:06now,
36:07people are getting killed.
36:28They were dead,
36:29they were dead,
36:31they were dead.
36:33He was dead,
36:34and the man,
36:35he ran away.
36:36The girl came here,
36:38the girl came here,
36:39the girl,
36:40and the girl,
36:41both the two children.
36:42I left her,
36:43the girl's eating the meat,
36:44and threw her,
36:45and threw her,
36:46and broke her,
36:47and gave her the little girl.
36:49I told her,
36:50why did she throw her?
36:51Asif,
36:52the girl died.
36:53After the girl,
36:54the girl was killed.
36:56there was a road
37:02we were shopping
37:04we were shopping
37:06here was a car
37:08so my husband would say
37:10my wife would start to leave
37:12the road
37:14and you would be a car
37:16to find a car
37:18and some other people
37:20just like that
37:22just like that
37:24Shelly, she told me to kill her.
37:27Both brothers and sisters have taken the veil on her face.
37:30She started bleeding.
37:32I called her to call her,
37:34and she called us to know her.
37:37We went to the East of Calais,
37:40the Heart Institute.
37:42She was on the spot.
37:44She didn't have any relationship with us.
37:47She had to know her in the first November.
37:50She had to know her.
37:52She was hurting her.
37:54I killed her.
37:56I was going through her.
37:58She got to know her.
38:00She had to know her.
38:02I knew her.
38:04She knew her to know her.
38:06She had to know her.
38:08She was keeping up with her.
38:10She knew her.
38:12She was coming.
38:14She was coming to her.
38:16I was looking for the last time.
38:18I was hearing about her.
38:20I had a scooter in front of the car and put a scooter in front of the car.
38:28My brother told me to go ahead and leave the car and leave the car.
38:32Then I fought with both of them.
38:35They fought with these two people.
38:39Two minutes ago, I was playing with my children.
38:42There was a disaster in this time and it was a disaster.
38:46I was very proud of my children.
38:50I was living with us for about 10 years.
38:52I didn't know if there was a disaster.
38:55I'm here, there's a disaster.
38:58If there's a disaster, I'll see you.
39:01It's not going to go.
39:03I've been out of the time and I've been out of the time.
39:06Meanwhile, what is the latest update from Uttarakhand?
39:23The flood ravaged Dharali village.
39:25Over 190 people have been rescued.
39:27It was a high-intensity operation, including Indian Armed Forces, NDRF, ITPP, other agencies.
39:32Remember, especially while there were rainfall also being reported from some areas.
39:37Army has established satellite and radio relay communication,
39:40allowing stranded civilians and tourists to connect with their family via the satellite internet.
39:45The rescued civilians wholeheartedly, of course, appreciating the life-saving operations as well by the armed forces and more.
39:52Amid all of this, remember, what you see are these timely operations.
39:56Time is the essence here to be able to rescue people as much as can.
40:01There's a lot of help.
40:03The
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