Archive

Reuters blog archive

from India Insight:

Interview: Nitin Gadkari on the election, BJP’s priorities and Amit Shah

Photo

(This article is website-exclusive and cannot be reproduced without permission)


By Shyamantha Asokan

Nitin Gadkari is a top leader of India’s Hindu nationalist opposition party, which is forecast to emerge as the front-runner in the country’s mammoth general election. A series of opinion polls this year say that the Bharatiya Janata Party (BJP), led by prime ministerial candidate Narendra Modi, will win the biggest chunk of the 543 parliamentary seats up for grabs. Results are due on May 16.

Modi and the BJP have been wooing voters with promises to rescue India from its slowest economic growth in a decade, leading to much speculation over the party’s exact plans for economic policy. But critics say the party, and Modi in particular, could be a divisive force along religious lines.

Reuters spoke to Gadkari, a former party president and a member of the BJP’s manifesto committee, at his residence in New Delhi. Here are edited excerpts from the interview. The questions have been paraphrased.

Q: Most pre-election opinion polls have forecast that the BJP will win the biggest chunk of seats in the election but might fall short of a majority. Is your party conducting any research or exit polling to monitor how people are voting during the staggered election, which could then help you strategise?
A: [The sentiment] is against Congress - it is already identified. So our most important planning is how to make all type of forces come together, by which we can unite it, the vote percentage, by which we can get good results. From an organisation point of view and a political point of view, it’s [about] our mass rallies and motivation to the party workers - we are trying our level best to [gather] all this base with us.

from John Lloyd:

Modi: Democrat or divider

Photo

India’s 815 million voters started the five-week voting cycle earlier this week. It’s already being celebrated as a triumph just for taking place -- “the largest collective democratic act in history,” according to the Economist.

The winner will matter. India now punches far below its demographic weight -- its 1.24 billion people are served by just 600 diplomats, about the same number as the Netherlands. The United States, with 314 million people, has 15,000. But that apparent lack of interest in making a mark on the world seems about to end.

from Expert Zone:

Steps the next government should take

Photo

(Any opinions expressed here are those of the author and not of Thomson Reuters)

India's economy is tottering, inflation is too high and growth too low. The Congress-led UPA government allowed the economy to drift during its second term. Why? Because it did not focus on real issues, failed to govern effectively and did not carry out any significant reforms.

New legislation became almost impossible, with coalition partners such as the TMC and DMK threatening to pull out (and they eventually did). On top of that, successive scams made it impossible for the government to function normally.

from Expert Zone:

India Market Weekahead: Ride the election rally with some caution

Photo

(Any opinions expressed here are not those of Thomson Reuters)

The Nifty touched a high of 6758 during the week, part of a market rally for 10 consecutive sessions - the longest streak in five years.‎ An overdue correction set in towards the end of the week with the Nifty ending flat at 6694.

Advance-decline data suggests that interest is shifting to the small and mid-cap space where advances outpaced declines. Although we are touching new highs, the missing euphoria indicates investor caution  that is good for the health of the market.

from India Insight:

No anti-Muslim ideology in party – BJP’s Anurag Thakur

Photo

Many people see Anurag Thakur, 39, as the youthful face of the Bharatiya Janata Party, the main opposition to the Congress party-led government and the party of prime ministerial hopeful Narendra Modi. He is the son of the former chief minister of Himachal Pradesh, and was named one of the World Economic Forum’s global young leaders this year.

In an interview with Reuters, Thakur spoke about Modi’s popularity as well as criticisms levelled against him. He also spoke about internal problems at the BJP, the party’s perceptions among Muslims, Congress PM contender Rahul Gandhi and more.

from India Insight:

Not funny – jokes Indian politicians crack

Photo

(Any opinions expressed here are not those of Thomson Reuters)

Politicians facing outrage over their comments often say that they didn’t mean what they said to come out that way. Lately in India, they say they were joking.

One of the latest was Agriculture Minister Sharad Pawar, whose self-confessed attempt at a joke earned him the ire of the Election Commission of India just before the beginning of this year’s elections that could boot the Congress out of power. Addressing a community of labourers in Maharashtra last week, the chief of the Nationalist Congress Party urged listeners to vote twice for his party - and told them how to do it.

from Expert Zone:

The election question

Photo

(This piece comes from Project Syndicate. The opinions expressed are the author’s own)

With street protests roiling democracies from Bangkok to Kyiv, the nature and legitimacy of elections are once again being questioned. Are popular elections an adequate criterion by which to judge a country’s commitment to democracy? Beginning next month, elections in Afghanistan and India will throw this question into even sharper relief.

from Global Investing:

Indian shares: disappointment may lurk

Should Indian shares really be at record highs?

The index is up 3.6 percent this year. Foreign funds have been pouring money into Mumbai shares, betting that the opposition BJP, seen as more reform-friendly than the incumbent Congress, will form the next government. They purchased $420 million worth of Indian stocks last Friday, having bought $1.4 billion over the past 15 trading sessions.

There is also the fact that the rolling crisis in emerging markets, having smacked India during its first round last May, has now moved on and is ravaging places such as Russia and Nigeria instead. The rupee has firmed almost 2 percent this year to the dollar, as last year's 6.5 percent/GDP current account deficit has contracted to just 0.9 percent of GDP.  Many international funds such as Blackrock and JPMorgan Asset Management have Indian stocks on overweight and Bank of America/Merrill Lynch's monthly survey showed investors'  underweight on India was one of the smallest for emerging markets.

from Expert Zone:

How election years affect the stock market

(Any opinions expressed here are those of the author and not of Thomson Reuters)

The ongoing stock market rally has been primarily supported by foreign investors. The rupee also rose to a near three-month high against the dollar on Friday.

It is rather unusual for the Indian market to jump in pre-election months, particularly after 1996 when coalitions became the new political strategy to make up for shortfalls in parliamentary majority. In most election years, the market had actually fallen just before the elections - in 2004, by more than 10 percent.

from India Insight:

Ashutosh gears up for Chandni Chowk race; talks about ‘biased’ media

Photo

(Any opinions expressed here are not those of Thomson Reuters)

Aam Aadmi Party's Ashutosh might have been a TV news host, but now he talks like an experienced politician. “I am enjoying” being on the other side of the microphone, the former managing editor of Hindi news channel IBN7 told India Insight during an interview in which he discussed his decision to stand for Parliament.

It probably won't be easy. He is taking on Kapil Sibal, a Congress party veteran and influential government minister. Sibal, a two-time member of the Lok Sabha from central Delhi’s Chandni Chowk constituency, has a knack for landing in controversies. From trying to police social media to trashing a popular upsurge against corrupt politicians in 2011, he often has become a target of public wrath.

  •