CIHS – Centre for Integrated and Holistic Studies

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Technology Paradox!

Manipulation in technology becomes an effective tool with terrorists, fraudsters and dictates political conversations posing fresh challenges to humanity K.A.Badarinath Technology works weirdly. Human mind behind evolving technologies globally is all the more weird. When Prime Minister Narendra Modi gave a call to undertake research in areas of technology, innovation and development to further socio-economic progress, there were sneers and jeers especially the cynics. Reports appearing in media seek to underline significance of reorienting technology and scientific research to further Bharat’s development and economic prosperity. But, instances of technology manipulation have shaken Bharat’s conscience. Mahdev app is one of several fraudulent platforms that crept into the system and helped the crooks launder money, betting by vulnerable people, spread corrupt practices and bankroll political parties. About 22 such apps and websites were either restricted or banned completely by Bharat’s government this Sunday. Reports quoting Enforcement Directorate documents suggest that Rs 508 crore was paid to Chattisgarh chief minister Bhupesh Baghel as kickbacks for facilitating technology driven betting apparently managed and manipulated from Dubai. These funds were to support campaign of Indian National Congress fighting anti-incumbency in legislative assembly elections. Promoting corrupt practices through the instrument of technology is what has come to fore. Weird brains behind crafted technology platforms to further betting and entice vulnerable people with promise of big money may require closer scrutiny. Making conscious attempt to hoodwink law enforcement agencies by harvesting technology to ‘rob’ people of their hard earned money need to be recognized by ‘evolved societies’ that push for big technology foray. It’s not just technology driven software programmed betting apps that wreaked havoc on gullible people in Bharat as was the case with Mahadev App that was largely operated and managed from Dubai by its promoters and were hand in glove with Bhupesh Bhagel government’s bigwigs and ruling party bosses in the state. At a meeting of Thinkers Forum in Karnataka, Finance Minister Nirmala Sitharaman recently pointed to technology driven apps that were used by fraudsters and speculators to work up or pull down specifistocks, investment instruments apart from drumming up support as well as marketing Ponzi schemes. Genuine investors and savings of hard working people were bound to be lost to unscrupulous elements that manipulated technology to perpetuate financial crimes. Recent cash for questions scam being investigated by an ethics committee of Parliament also have a similar narrative. The accused Member of Parliament from opposition, Trinamool Congress Mahua Moitra apparently passed on her official mail login and passwords to corporate houses. Mail ID of this jet-setting MP were used and abused by corporate houses to steer Parliamentary discussions on issues that possibly relate to them. Dubai was the favourite destination for this MP from where her mail ID was logged in over 45 times by alleged handlers. A sweep of servers access and technology interface for this mail ID revealed the way she operated in conjunction with her corporate masters from whom she reportedly received expensive gifts and unlimited hospitality. Quick spread of artificial intelligence will not only disrupt Bharat’s society like any others, increase in financial crimes driven by technology is a foregone conclusion. Unprecedented advances in computer vision, languages processing, robotics have only complicated the world of money. Fraudsters are bound to have a hay day given issues relating to safety, accountability and transparency of technology driven, artificial intelligence propelled processes that govern the world of finance, banking, insurance, pension funds and markets. UK Prime Minister Rishi Sunak had recently compared dealing with artificial intelligence to emergence of internet or electricity several decades earlier. Rishi Sunak is right when he says that artificial intelligence brought with it fears that’s unparalleled in history of human evolution. Apart from large scale frauds, artificial intelligence and other cutting edge technologies have also brought fears of cyber-attacks, disinformation and it was an effective tool in hands of criminals and terrorists. Though the Bletchley declaration boasted of 29 countries including China and European Union being signatories to an alliance on artificial intelligence, there were enough naysayers especially the technology honchos of Meta and Tesla variety. From simple financial frauds to dictating political conversations, technology has emerged as the biggest threat in the hands of lumpen elements , terror mongers of every shade, variety & religious denomination apart from human disruptors. Moulding technology for human welfare, progress and development, spread of prosperity is the biggest challenge. (author is Director and Chief Executive of New Delhi based non-partisan think tank, Centre for Integrated and Holistic Studies)

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‘Terror is anti-humanity’

Bharat’s strategic independence was displayed while it rejected Hamas terror on Israel but extended support to free, viable Palestine with a message to friends & foes alike K.A.Badarinath Strategic independence has been the key to Bharat’s foreign policy formulation while engaging with global powers. And, furthering Bharat’s offensive and defensive interests is primacy to this policy. Globally, zero tolerance to expansionist, jingoistic political thought and rejecting every form of terror irrespective of caste, creed, gender, region, religion, faith and colour is something Bharat feels strongly about. Concept of ‘Vasudaiva Kutumbakam’ – entire humanity as one big global family – has been the corner stone to Narendra Modi government’s engagement internationally in last nine years. These three basic tenets of foreign policy have worked reasonably very well when Bharat stayed away from joining the pro or anti-Russian fronts. Instead of joining the NATO forces blindly or going Russia way whole hog, Bharat espoused its own line. Strategic independence in thought and actions saw Bharat condemning the violence and bombardment by Russian forces that invaded Ukraine. Bharat did not join hands with European Union or for that matter US to single out Russia. In the same vein, Ukraine was given all possible humanitarian assistance and extricated Indians that were stuck in the war zone. Such independent line is expected to deliver results for Bharat in dealing with Islamist terror outfit Hamas attack on neighbouring Israel, home to Jews. In a week, the conflict between Islamist terrorists and Jews has escalated into full war having adverse impact in the gulf region and beyond. War between Jews and Hamas terrorists is expected to heighten further with no end in sight anytime soon. It was important for New Delhi to get its act right in dealing with the situation given that her interests in middle-east are too huge and Israel has been a dependable partner in half a dozen areas. Within first few hours, Prime Minister Narendra Modi described the Hamas campaign as ‘terror attack’ and condemned unequivocally in two tweets. Prime Minister Modi’s telephonic conversation with his Israeli counterpart Benjamin Netanyahu fortified India’s position against terror, terrorism and terrorists that wreaked havoc on Israel and Jews. At G-20 Parliament Speakers conclave that’s underway in New Delhi, Prime Minister Modi elaborated further and said ‘terrorism was against humanity’. Second part to Bharat’s policy on Hamas – Israel war was unveiled at a foreign media briefing this Thursday. India reiterated its decades old position for ‘an independent, viable and sovereign’ Palestine state that co-exists peacefully with Israel’ in West Asia. While Bharat does not tolerate, terror, terrorism and terrorist outfits like Hamas, it is not against carving out a Palestinian state. Drawing distinct differentiation between Hamas and Palestine is a significant point in Bharat’s Middle-East policy. This differentiation is conceptually and strategically significant vis-à-vis the Western powers and European nations. Subrahmanyam Jaishankar led foreign policy team seems to have sent out clear signals to both friends and foes alike by reiterating its support for Palestine state. The message from Bharat is straight and simple. The US and its partners in NATO cannot take Bharat for granted on the issue as was the case in Russia – Ukraine conflict. Coming out strongly in favour of a ‘free, independent and viable’ Palestine state and rejecting Hamas is also important given that Muslims rallied in country after country either in support of Hamas or advocating Palestinian cause. In the fast evolving situation, Bharat recognized her responsibility towards Middle East Muslims that seek a ‘peaceful’ Palestine state and at the same time stood like a rock with Jews in Israel. Bharat’s position is in continuation of its historic association with the Palestine movement. This policy has however taken twists and turns, evolved over the years in light of ‘terror’ outfits like Hamas posing serious threat to humanity. Bharat’s continued engagement with both Sunni and Shia dominated nations on political and economic fronts seem to have dictated her nuanced position. This policy also factors in the importance of aligning with Jews in Israel, US and Europe while rejecting Hamas ‘in toto’. By extending support to independent Palestine state via bilateral negotiations, Bharat has been pragmatic in finding lasting solution for peace in Middle East. It may not have been a cake walk for Bharat to evolve her position on Israel – Hamas conflict given her recent engagements with United Arab Emirates, Saudi Arabia, players in the Gulf and North Africa including Egypt, Iran, Qatar, Kuwait, Bahrain etc. Even the Muslim world is divided in the middle on terrorist organizations like Hamas. For instance, UAE and Bahrain that are party to Abrahams accord with US have limited to extending tactical support to cause of Palestine and not toed the Hamas ‘terror’ line. Similarly, Saudi Arabia has been muted in its responses to Hamas terror. Egypt is not with Hamas. Jordan and Qatar have different positions vis-à-vis Palestine state and Hamas. Organizations like Hezbollah from Lebanon and Islamic State fighters may have extended their unqualified support to Hamas. Iran’s supreme leader Seyyed Ali Hosseini Khamenei is yet another significant figure that stood behind Hamas terror act. But, Muslim world as such is not united completely. Apart from the fault lines among Arab nations, Bharat being home to over 210 million Muslims – both Sunnis and Shias – cannot ignore the impact of conflict within its own minorities. Isolation and elimination of terror outfits like Hamas, ISIS, Hezbollah, Taliban or such religious fundamentalists should be the global priority. For this to happen, a common definition of ‘terror’ may have to be achieved internationally without ‘ifs and buts’. (Author is Director & Chief Executive of New Delhi based non-partisan think tank, Centre for Integrated and Holistic Studies)

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Doves in Droves!

Indian debt market with foreign funds influx of US $ 30 billion after JP Morgan, Bloomberg indexation reflect confidence of global financial community K.A.Badarinath A quiet transformation that has gone less noticed in India is that of its debt market which is in for bigger overhaul. Strong growth story, reforms in debt market, decisive leadership of Narendra Modi government have created fresh opportunities for foreign investors in the nascent debt market with potential and promise. After over years of intense negotiations, Indian sovereign bonds will make it to Bloomberg and JP Morgan’s emerging markets index. Getting benchmarked on these two indices would lead to about $ 30 billion inflows into Indian debt paper that’s largely confined to government banks and financial institutions. US bank J P Morgan recently announced inclusion of 23 government bonds worth $ 330 billion on its emerging markets index. This will be staggered out over ten months beginning June 28, 2024 to March 2025. Close on the heels, Bloomberg Index Services has given firm hint that Indian bonds will be part of its indices globally. While Bloomberg reported discussions with its clients that are largely banks and investment companies, JP Morgan has more or less completed this exercise. As per reports, large investors in government debt internationally expected Bloomberg to include India bonds in first quarter of next fiscal in India beginning April 1, 2024. Inclusion of Indian treasury issued  rupee denominated bonds under fully accessible route (FAR) are part of JP Morgan and Bloomberg indices would lead to large global investors taking big exposure in Bharat’s paper. Reserve Bank of India (RBI), Bharat’s central bank in consultation with Indian government had opened a new channel named, Fully accessible route (FAR), through which non-resident investors were permitted to invest in specified Indian securities without caps. This foreign investors’ window was formally opened in 2020. In the indexation of JP Morgan and Bloomberg, Indian bonds are set to get maximum weightage of 10 points globally and 8.7 points in emerging markets indices. India’s finance minister Nirmala Sitharaman is right on track when she says that stability, policy consistency and reforms has made Bharat’s famed growth story all the more robust and sustainable. With emergence of India as a strong manufacturing hub for top companies like Apple, Nokia, Boeing, Samsung and Amazon, equity markets turned ebullient with fresh equities investments moving away from China. A similar situation is getting unravelled in debt market with investors shifting away from China that’s struggling to keep its growth estimates in short and medium term positive and healthy given hiccups in the post-Covid 19 recovery. In contrast, India is expected to log fastest growth next two years with 6.1 per cent in 2023 as per International Monetary Fund. This weighs against US’s 1.8 per cent and global aggregate of 3 per cent. China losing steam, Russia taken out of the indices following Ukraine war and healthy economic growth in India has egged foreign investment firms, rating agencies and large banks to look at Bharat’s debt paper eagerly. Finance Minister Sitharaman may have been a wee bit conservative when she projected inflows of US $ 23 billion after inclusion of Indian debt paper on JP Morgan Bond Index. Goldman Sachs, the prominent US investment bank and services company, has however projected $ 30 billion in 2023-24 when top investors rebalance their exposure internationally. Chinese debt paper was in demand way back in 2019. Of late, Chinese paper has begun to lose support given its shaky economic fundamentals that may translate into larger interest in Indian debt market. Hitherto, treasury debt paper was largely restricted to government owned banks and financial institutions while a very small chunk was available for retail investors and mutual funds. Foreign investors seem to be factoring huge infrastructure investment plans rolled out by Narendra Modi government. And, second factor that may propel rebalancing their exposure is outcome of legislative assembly elections in five states followed by Parliament polls before June 2024. Projected manifold increase in foreign funds flow into India debt paper goes well with ‘on the ascent’ narrative of Narendra Modi’s ruling BJP and its allies that have begun a spirited campaign ahead of states and federal elections. No doubt that RBI and Indian government are experimenting big by enabling foreign investors to take large exposure in Indian paper. This may eventually translate into RBI losing some flexibility in money policy formulation and shifting to market-led dynamics. One cannot ignore the contrarian view as well. Foreign investors taking exposure worth US $ 25 – 30 billion in government stock of over Rs 100 lakh crore or US $ 1.2 trillion is too little and too late. If one were to factor fresh borrowing of Rs 1.65 lakh crore each year, these inflows would add depth to the Indian debt market without having material impact on monetary policy formulation in near future. Unanimous view however is the robustness, inclusiveness and sustainability of India’s growth story built on strong economic fundamentals. Financial community’s confidence in Indian story reaffirms that doves are back in droves. (author is Director & Chief Executive at New Delhi based non-partisan think tank, Centre for Integrated and Holistic Studies)

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Chinese Puppetry on Show!

Probing charges of money laundering, peddling of Chinese propaganda by NewsClick is not suppression of press freedom  K.A.Badarinath Noise on suppression of press freedom and free speech has not yet reached a crescendo. This noise has just begun in India with Left parties, their frontal organizations and anti-Modi political alliance partners going for the kill. Few activists from these political formations hit the streets on Wednesday protesting a probe against alleged China funded portal ‘NewsClick’ that reportedly laundered  money to bankroll the dragon’s ‘propaganda’ vehicle. Portal’s founder Prabir Purkayastha and his human resources head were rounded up by special operations unit of Delhi Police after having questioned over a dozen journalists, consultants and later seized their devices for further investigation. Big question therefore is why all the noise on purported suppression of press freedom in India? Well, this is not the first time that such false narrative was peddled or reported in domestic and foreign media outlets in last ten-odd years. Two big charges against ‘NewsClick’ and its front-enders is that the organization worked as ‘propaganda vehicle’ for China. And, second serious charge is that foreign funds were routed through a millionaire businessman Neville Roy Singham to take forward nefarious Chinese Communist Party agenda in India. Well, only an in-depth investigation will bring out the facts and stick out separated from the organized noise of fringe Left parties that claim to protect, cherish and embellish Mao’s jinxed political thought. Firstly, is it a crime to investigate possible wrong doing by anyone concerned with ‘NewsClick’? The probe was launched by Delhi Police, Enforcement Directorate and other agencies only after having filed a detailed first information report against the accused on August 17 taking cognizance of ‘Chinese Propaganda machine’ related reports that appeared in The New York Times. These very political formations and self-styled proponents of ‘free press’ that hit the streets have had sworn by NYT on more than one occasion to hit out at the Modi government. Now, what’s wrong in investigating ‘NewsClick’ based on newspaper reports and Enforcement Directorate’s own research? The New York Times had pointed to a global web of Chinese propaganda that involved American non-profits which stretched from Chicago to Shanghai. This web as per NYT had NewsClick as an active participant.   Now, why can’t the law enforcement agencies do their job of enforcing probity in public life, negate possible China propaganda campaign and stem laundering of foreign funds that made their way into ‘NewsClick’ during 2018 – 21 and used ‘against the Indian state’?  Does this tantamount to suppressing press freedom? Or, is initiation of an inquiry anti-democratic by any stretch of imagination? It’s rather surprising that newspapers like ‘The Hindu’ and ‘Indian Express’ that were at forefront of investigating Bofors scam in early ‘80s and ‘90s editorialized the police action on ‘NewsClick’ as smacking of supressing press freedom. And, it is rather laughable. Crackdown against suspected crime by elements inimical to Bharat’s interests or exposing ‘NewsClick’ handlers in US and China cannot be equated with Smt Indira Gandhi’s decision to suspend basic citizens’ rights, impose internal emergency and curb press freedom in 1975 after an adversarial verdict of Allahabad High Court. Wouldn’t Ramnath Goenka, founder of Indian Express and Kasturi Ranga Iyengar of ‘The Hindu’ turn in their graves at the suggestion of curbing press freedom for investigating against ‘NewsClick’ management and their handlers? As in case of any individual or organization, don’t journalists have basic responsibility to submit before law enforcement agencies seeking to get at the truth? Making hue and cry of a probe may not drown the truth about irregularities at ‘NewsClick’. At best, NewsClick is a scrappy outlet that used invectives and propaganda to try and corner Narendra Modi government. And, it gained prominence only after The New York Times investigation linked it to a network that funded pro-China campaigns. Similar noise and public outrage was on show after BBC India operations were scrutinized for violation of Indian taxation laws. Tax sleuths assessment forced BBC to admit that it had under-reported revenues, profits and thereby evaded taxes. Reuters, The Hindustan Times and The Mint newspapers reported that BBC under-reported incomes worth Rs 40 crore to evade taxes. Well, income tax assessment of UK government funded BBC accounts was blown out of proportion and several of these very propagandists had jumped in to cite suppression of press freedom. There was no plausible explanation on how enforcement of domestic tax laws was same as suppression of press freedom. In the first place, big question was how did a foreign government funded media organization gather courage to evade taxes? Certainly, India is neither a banana republic nor subservient outpost of the erstwhile British imperialist rulers. When news laundry, yet another website were surveyed by Income Tax officials in 2021, similar charges of ‘intimidation and press freedom’ were heaped against the law enforcement agencies. Rule of law is what matters. Whether it is Bharat Samachaar or Dainik Bhaskar, media organizations need to be upfront given their distinct responsibility to readers, people that go by what appears in the media and the country. If thousands of websites, newspapers, TV Channels, social media handles owned by Indians, domestic corporates and foreign collaborations have been freely undertaking news operations, then where’s this suppression of press freedom? Seeking accountability is not equivalent to suppression of press freedom and rights. Newspapers, magazines and other media outlets in India like elsewhere have taken an independent editorial line in sync with their beliefs, understanding and assessment of a government, its policies and political ideologies. Editorial positioning of a media organization is distinctly different from resorting to irregularities, wrong doing, anti-India propaganda or joining flanks with the enemy. Let’s not equate press freedom with irregularities and anti-India tacit operations. Freedom comes with responsibility. (Author is Director& Chief Executive of New Delhi based non-partisan think tank, Centre for Integrated and Holistic Studies)

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Maldivian Mirage, China Political Tightrope!

Maldives stands at a crucial juncture with President-elect Muizzu’s apparent tilt towards China signalling potential tectonic shift in regional alignments. While the allure of Chinese investments is evident, past patterns suggest that such engagements often come with strings attached, risking economic independence with potential threats to sovereignty. The historical bond with India rooted in mutual respect and shared interests, has ensured stability and growth for the Maldives. As the Maldives navigates its diplomatic path, it’s imperative to recognise the long-term implications of these choices. Over-reliance on China, given its track record, might provide short-term gains but could lead to long-term vulnerabilities, threatening Maldives autonomy, regional harmony and its historically enriched and etched relationship with India.

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Canada’s Darkening Horizon: Red Flags and Alarming Trends

The dynamics between India and Canada are treading on thin ice, revealing a landscape where Canada’s interests seem to be diverging significantly from Prime Minister Trudeau’s actions and statements. It’s crucially morphing into a “Canada versus Trudeau” scenario, highlighting an urgent call for a recalibration of Canada’s stance. Dive deeper into the unfolding scenario and explore potential resolutions in CIHS special report on “Canada’s Darkening Horizon: Red Flags and Alarming Trends”

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Justin Trudeau on a Sticky Wicket!

Khalistani terror links, snapping ties with Bharat, ignoring bread and butter issues, dissent within ruling party may not help Canadian PM secure a fresh mandate Dr Amrit Pal Kaur Canadian Prime Minister Justin Trudeau made explosive comments on September 19 suspecting Indian role in killing of terrorist Hardeep Singh Nijjar in June 2023. Outrageous as these comments were, they were damaging in equanimity. Trudeau’s statements within and outside the Canadian Parliament led to an unwanted and unwarranted diplomatic war with India that could and should have been avoided. Given that Trudeau is leading a minority government with support from parties like New Democratic Party, it seems to be his political exigency to comment on any and everything Indian. The myopic view of the present Canadian dispensation with regard to Indo-Canadian relations only puts a mammoth question mark on Trudeau’s acumen as a statesman. Instead of behaving like head of a leading country like Canada, Trudeau managed to cut a sorry figure for himself in global international political matrix. Big question, however is, why Trudeau jumped the gun and declare something which may not be true at all. Did the purported ‘Five Eyes’ intelligence sharing mechanism that includes US, United Kingdom, Australia, Canada and New Zealand fail to deliver?   The reasons are palpable. The drama in wake of his visit to Delhi for G-20 summit, much on the line of Shakespearean script, was peppered with generous amount of prejudice against India acted as immediate trigger for his outpouring in Parliament.  It is more than clear that Trudeau is playing to domestic gallery with the allegations against India. As much as he wishes to make it an issue of international nature, it is essentially a domestic concern for Canada. As the New Democratic Party led by Jagmeet Singh, a sikh descent, is a crucial partner in Trudeau Government and Sikhs hold crucial votes in the Canadian elections. Therefore, his inkling towards everything Sikh is quite evident. There is clear evidence of Canadian Government’s support to extremist groups which have terror links as well as entertain separatist agenda against India. From facilitating Khalistani referendum to permission for vile speeches against India, the separatists have been given support short of recognition by the Canadian Government. The killing of Nijjar is portrayed as an assassination project of Government of India in the light of his terror history. Nijjar, an Indian citizen, had reached Canada seeking political asylum in 1997 after two failed attempts and with forged documents. In Canada, he eventually became the chief of Khalistan Tiger Force. He became the leader of a Gurudwara committee in Surrey, British Columbia in 2020. Nijjar was a deemed terrorist as notified by Government of India for his involvement in terror related activities in the country. This perhaps worked to Trudeau’s advantage and against India.  However, there are other aspects that Trudeau seems to be happily oblivious to or conveniently ignored. For one, the Sikh diasporic politics in Canada is as much about the heft and influence among hardworking community and the leadership of a Gurudwara is one such accolade which contributes to a Sikh death might have to do with leadership of Gurudwara as well as the local politics of his region. Second, there are credible reports that Nijjar was involved in the terrorist activities in India including a bomb blast in Punjab. He is known to have visited Pakistan to meet his links there. Third, as much as Trudeau believes in assassination theories, India is a peace loving and rule abiding democratic country with a long-standing impeccable record that’s under constant scrutiny. Trudeau and his government do not seem to realise the dangerous nature of separatist or extremists driven politics. Clearly, they have not witnessed the violence and fear of terrorism on the scale Indians and especially people of Punjab have seen. Separatists came to India via the Canadian route as there are hardly any takers in India for it. Way too much blood has been shed and precious lives have been lost to the grotesque creature of terrorism that its knock on the doors of Punjab makes Punjabis fearful. It took decades to restore semblance of normalcy in Punjab and the separatist agenda seeks to undo it. Indian government’s fury is understandable given the context and recent terror history. No one in India wants to turn the clock back to vile 80’s. Peace, love and stability are preached in Sikhism and Sikhs of today seek to maintain it in their homeland. Trudeau’s petty politics seeks to threaten it without realizing the fragile nature of this calm. Fanning separatist flames may have grave repercussions in Canada and India well. Indians, of all faiths, who do not vouch the handful separatist fringe elements are being threatened under the very eye of the administration. Security of Indian Diplomatic corps is also compromised when the separatists protested outside Indian Consulate, distributed flyers with names of Indian diplomats and put up posters. These grave incidences not only present a weak figure of Trudeau Government abroad but also create a fearful environment within Canada. These developments propelled Indian government to temporarily stay on issuing visas to Canadian nationals. Whereas India is accused of violating Canadian sovereignty, Canada has not performed its duty to protect the Indians, their properties, businesses, jobs and Indian diplomats. Trudeau has conveniently resorted to a cover up of these facts. In fact, if not controlled, the separatists may even become a credible threat to Canadian security as well when this creature that Trudeau is nurturing turns to face him. He does not seem to realize that terrorism has no religion and does not harbour faith in humanity and no amount of sugarcoating will change its essential nature. If the hope is to fan a fire across continents will keep their hearth safe, then history has shown time and again that chickens eventually come home to roost. Prime Minister Justin Trudeau has shown anything but statesmanship for petty gains in domestic politics costing the nation a

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Hindenburg 2.0 Could be a Hit Job!

OCCRP purported ‘expose’ may be intended at destabilizing Indian financial markets, steer political conversations, influence Lok Sabha polls Rohan Giri In recent days, a startling narrative has surfaced pointing to an alleged covert plot to target and destabilize Indian financial markets. An organized network of international entities including financiers like George Soros, Rockefeller Brothers, US and European government agencies alongside Organized Crime and Corruption Reporting Project (OCCRP) seem to have made plans to drive the Indian markets including the stocks into an abyss. This conspiracy supposedly involved self-styled well-funded NGOs, media platforms and foreign actors camouflaged as activists and journalists. The reported expose on the anvil dealing with Indian markets and desi conglomerates has all the markings of infamous short seller Hindenburg that ravaged the Gautam Adani led ports to technology group and thereby disrupting the Indian stock markets. Over US $ 115 billion worth investors wealth got washed out after the ‘damning’ report hit the wires. Christened as Hindenburg 2.0 euphemism for second version of short-seller’s report is seen as meticulously orchestrated campaign after India reported a huge success of its moon-landing mission, Chandrayan-3 that was hailed globally. Earlier, Hindenburg Research, a US-based private entity, came up with a report concerning Gautam Adani, a prominent Indian business tycoon. The aftermath of this report resulted in substantial financial losses for Adani Enterprises and those invested or taken exposure in Indian stocks. At heart of this narrative lies a purported plan to mimic a “Hindenburg 2.0 scenario,” aimed at besmirching India’s developmental journey, exploiting fabricated exposés and manipulating the market for speculative as well as designed gains for a few powerful actors with deep pockets and political linkages. A chronological evaluation of events accentuates the narrative’s evolution that seems to be well designed by actors behind the curtain. OCCRP is the forum through which the second version of Hindenburg report is expected to hit the headlines. A cursory look at OCCRP reveals that it’s funded by US Government, Ford Foundation, Rockefeller Brothers, George Soros’ Open Society Foundation apart from some European governments’ agencies. Source: occrp.org The agenda and biases of many OCCRP supporters are well known and documented extensively. OCCRP association and collaboration with certain governments or groups have raised questions on its possible intent, potential alignment with geopolitical interests. The organization’s controversial connections have sparked concerns on its credibility, objectivity and adherence to ethical standards. OCCRP’s agenda, as suggested by their annual reports and team profiles, hints at financial backing from countries’ agencies with potentially concealed motives. A glaring example lies in their portrayal of Kashmir as an independent state signaling an alignment with forces that seemingly oppose India’s growth. Kashmir’s depiction of being  separate from India raises concerns about an agenda that potentially seeks to challenge India’s sovereignty. As an investigative journalism platform, it’s incumbent upon OCCRP to provide accurate, balanced and comprehensive coverage on complex issues like the Kashmir. But the organization failed to meet its responsibility. Source: OCCRP Annual Report 2022 As Drew Sullivan, the co-founder of OCCRP, stated, “Combating a network demands the strength of a network.”  Given that OCCRP has a particular agenda apart from what’s espoused, it’s crucial to ascertain affiliations of this organization in Indian context as well. Overseeing the operations in South Asia is Anand Mangnale who masquerades as regional editor. Prior to his association with OCCRP, Mangnale was co-founder and director of online crowd funding platform, Our Democracy. Source: occrp.org To begin with, in December 2017, this entity, ‘Our Democracy’ initiated its crowd funding election campaign. The campaign was tailored for Jignesh Mevani, an activist and advocate of Left ideology. Notably, Mevani was an independent candidate for the Banaskantha constituency in the Gujarat assembly elections. Kanhaiya Kumar from Communist Party of Indija and Atishi from Aam Aadmi Party were also beneficiaries of ‘Our Democracy’ funding programme. Anand Mangnale managed to mobilize Rs 70 lakh for Kanhaiya Kumar’s campaign wasRs 70 lakh. Similarly, Atishi’s campaign was also supported with substantial funds. Prior to launch of ‘Our Democracy’ platform, Anand Manganale and his associate Bilal Zaidi collaboratively established a venture named Crowdnewsing. This platform was purportedly a journalistic endeavour. At the height of unrest at Jawaharlal Nehru University in Delhi during January 2020, Anand Manganale managed to infiltrate a WhatsApp group identified as “Friends of RSS,” associated with right-wing sentiments. He immediately took a screenshot to share contents of this group, detailing ongoing events with fellow left-wing activists and leaders to fuel the rioting by latter. Anand Manglani’s actions came to light when journalist-activist Barkha Dutt shared a screenshot on the social media platform “x” (formerly known as Twitter). The screenshot unveiled ongoing conversation within the whatsapp group. Anand Mangnale used this mobile number when he worked with the opposition party, Indian National Congress (INC) for their crowd funding campaign. Given the backdrop, those involved, funding and network of OCCRP, one can offer a plausible insight to possible underlying intentions, motive and potential biases behind the talk of a ‘big expose’ by the organization. Purported report may also be seen in the light of Lok Sabha elections scheduled to be held within the next one year. Emergence of Hindenburg 2.0 narrative can also be construed as a politically motivated manoeuvre to influence the electoral outcomes or at least influence the conversations in run up to the polls. (author is operations manager at Centre for Integrated and Holistic Studies, a non-partisan think tank based in New Delhi)

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Indian elephant outpaces Chinese Dragon

Beijing’s ambivalence came to fore at BRICS and engagement with New Delhi while India showed promise, responsibility and capacity to lead Rahul Pawa In this reshaping of the BRICS landscape, India has assertively stamped its diplomatic and strategic acumen under Prime Minister Modi, outpacing the Chinese dragon with the calculated grace of an elephant—focused, powerful, and increasingly influential. In the years since its inception over a decade ago, BRICS — Brazil, Russia, India, China, and South Africa — has matured as an influential conglomeration for majority world. Engaging in dynamic interactions with the developed world, this ensemble stands on the cusp of potentially challenging G7’s dominance in global affairs. Yet, the trajectory it charts—be it one of constructive collaboration or divisive contention—will hinge heavily on the vision the forum holds. As Asian heavyweights, India and China have to jostle to sway BRICS their way as their strategic contest will shape 21st-century geopolitics. BRIC birthed on sidelines of the 2006 UN General Assembly as a grouping of large developing countries. Goldman Sachs economist Jim O’Neill has been credited for evolving the acronym in 2001 that captures zeitgeist of an era smitten with emerging markets. Those days, Brazil, Russia, India, and China were seen as newest frontiers of investment. By 2011, with South Africa coming on board, the acronym matured to BRICS. Today, the group no longer represents mere buoyant markets. It symbolises a collective intent to recalibrate the equitable global order historically skewed towards Western hegemony. Yet, for all its promise, BRICS stands at an inflection point. Skeptics question its cohesion, pointing to underlying rifts among member nations and ambiguity on its very purpose and membership. Yet, BRICS believes in the adage ‘strength in numbers’ as it quests towards a multipolar world order where developing countries have more influence, in line with their contributions to the global economy.  Even as BRICS nations represent an overwhelming 41 per cent of world’s population, the bloc accounts for 31.5 per cent of global GDP, eclipsing the G7’s 30.4 per cent. It also commands a combined economic output valued at an astonishing $ 26 trillion, around 60 per cent of what the seven most industrialized nations generate.  The staggering figures notwithstanding, a glaring inconsistency exists: the bloc’s modest voting power in the International Monetary Fund and limited decision-making in World Bank. It does not commensurate with the global influence BRICS commandes. Such disjunction magnifies a substantial source of apprehension among developing nations that have for long been seeking corrective measures to democratize these international financial and governing institutions. More than 40 heads of state gathered for the Johannesburg summit and the event marked a significant pivot in global affairs. Hosted by South Africa, the year’s rotating president following China, the theme—”BRICS and Africa: Partnership for Accelerated Growth and Inclusive Multilateralism”—spoke volumes. Notably, South African President Cyril Ramaphosa revealed that the forum had drawn intense global interest, with numerous nations seeking membership. However, amidst this diplomatic panorama, the magnetism of two Juggernauts stood out: India’s Prime Minister Modi and China’s President Xi, whose talks generated media frenzy. Correspondingly, the two leaders did have an “informal conversation” at the leaders lounge in backdrop of a pending request from the Chinese side for a bilateral meeting with India. India – China relations are etched in history of mutual reservations. Recently, tensions flared anew between the two Asian giants in 2020 when China ramped up its aggression along the Line of Actual Control (LAC), a move met with formidable resistance by India. The saga of China Pakistan Economic Corridor (CPEC) traversing through Pakistan occupied Indian regions of Gilgit-Baltistan and Jammu and Kashmir further complicates matters. These areas, occupied by Pakistan, are consistently contested by India as it persistently voices its objections on the International forums against the corridor.  But Beijing’s ambitions don’t stop at terrestrial borders. It aims to shape the BRICS bloc – as a cornerstone of its own global strategy. From pushing the Belt and Road Initiative (BRI), China seeks to recalibrate the world’s economic compass. On the contrary, steering clear of China’s political choreography, India zeroes in on bolstering regional economic collaborations and pushing for a recalibration of international monetary institutions to ensure the developing world isn’t left out. This nuanced strategy became increasingly transparent when India’s Foreign Minister, S. Jaishankar, dispelled notions of a nascent BRICS currency, electing instead to underline the importance of fortifying Indian Rupee in July this year. As BRICS itself stands at a crossroads and appears to positioned for a transformative global narrative, India navigates these waters with discerning caution. It remains vigilant to shifts that could potentially reconfigure this 16-year-old alliance in favour of a single, dominating power, effectively altering the multi-polar balance that has long characterised the consortium. As the gavel struck to signal close of the 15th BRICS Summit at Johannesburg’s Sandton Convention Centre, a renewed world order seemed to crystallize before the global community. The seismic pivot came courtesy South African President Cyril Ramaphosa, who announced the summit’s agreement to extend membership invitations to six emerging powers—Argentina, Ethiopia, Egypt, Iran, Saudi Arabia, and the United Arab Emirates. This dramatic enlargement, scheduled to take effect in January 2024, would make the bloc represent approximately 30 per cent of the global GDP, a financial heft rivaled by few. Amid this climate of heightened anticipation and future promise, India’s Prime Minister Narendra Modi emerged as the summit’s lodestar, charting the bloc’s course with a visionary range of proposals that struck a stark contrast to China’s mysterious reticence. Modi did not just navigate intricacies of the summit; he orchestrated them. India’s domestic and international roadmaps were laid out with compelling clarity. Whether articulating his ambitious aspiration for India to graduate to a developed nation by 2047 or laying bare his robust advocacy for key reforms in the United Nations Security Council and the World Trade Organization, Modi’s leadership radiated across multiple vectors. This was further illuminated by India’s pitch in the digital payments sphere, notably the Unified Payments Interface (UPI)

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