PR Masterstroke
Talk about masterful PR strategy.
Just a week after US prosecutors indicted top Adani officials in bribery related charges and securities fraud, Group Chief Financial Officer Jugeshinder ‘Robbie’ Singh attended a debt markets seminar in Mumbai as a speaker. The media was uncertain whether he would actually be present, though the organisers, the Trust Group, assured everyone that he would.
Robbie not only spoke on stage for 30 minutes, but he also readily agreed to speak to the media. Reporters grilled him, but the CFO had the answers ready, and it ended only when the media ran out of questions. Singh took the opportunity to talk at length about the group’s operations, projects and that it had nothing to hide.
Dollar diplomacy
In a fiery tweet that reverberated across global financial markets, US President-elect Donald Trump issued an unequivocal warning to the BRICS nations — abandon any ambitions to dethrone the US Dollar as the kingpin of international trade or face the wrath of 100 per cent tariffs.
Trump’s message reflects his characteristic blend of economic nationalism and hardball diplomacy, raising concerns over the future of the global financial order.
For India, a BRICS member and key US trade partner, Trump’s threat poses a dilemma —should it prioritise its role within the bloc or safeguard its economic ties with America?
Trump’s tweet has set the stage for a high-stakes standoff between the dollar’s hegemony and the aspirations of emerging economies. Whether this is a calculated move or a reckless provocation, only time will tell. For now, the international business community braces for impact.
Growth’s on thin ice
India’s economic engine seems to have hit a rough patch, slowing to a modest 5.4 per cent growth in Q2 FY25 — a sharp contrast to last year’s robust 7.6 per cent. The story reflects a troubling trifecta: high food inflation, waning urban spending, and borrowing costs biting deep into private consumption.
Is India merely weathering a cyclical storm, or is this the onset of deeper structural challenges?
All eyes are on the upcoming RBI Monetary Policy Committee (MPC) meeting slated for December 4-6!
Indo-Pak rice tussle
The 3rd Global Sustainable Rice Conference & Exhibition 2024, held in Bangkok on November 26 and 27 saw many traders participating worldwide.
In particular, it saw Indian and Pakistan exporters taking part. Exporters also used the meeting to seek buyers. A little bird says one of the Pakistan exporters aggressively marketed his rice. Not surprisingly then, Pakistan is offering tough competition to India in the global market, though it may have a limited impact only.
India exports over 22 million tonnes of rice, while Pakistan has only 3-3.5 million tonnes to spare for the global market.