Cong facing existential crisis in Modi-Shah age: Jairam Ramesh

Agencies
August 8, 2017

Kochi, Aug 8: The Congress is facing an "existential crisis", senior party leader Jairam Ramesh today said and pitched for "a collective effort" by party leaders to "overcome" the challenges it faced from Prime Minister Narendra Modi and BJP chief Amit Shah.

Ramesh also said that business as usual approach will not work against Modi and Shah and advocated for a flexibility in approach to make Congress relevant.

"Yes, the Congress party is facing a very serious crisis," Ramesh told news agency in an interview.

He said the Congress had faced "electoral crisis" from 1996 to 2004 when it was out of power. The party had also faced "electoral crisis" in 1977 when it lost the elections held soon after the emergency.

"But today, I would say that the Congress is facing an existential crisis. It is not an electoral crisis. The party really is in deep crisis," he said, when asked whether the threat of "poaching" of MLAs posed by the BJP in Gujarat had forced the party to transport its MLAs to Karnataka to ensure party leader Ahmed Patel's victory in the Rajya Sabha polls.

He, however, justified the Gujarat Congress's decision to send 44 of its MLAs to a resort in party-ruled Karnataka on July 29 to fend off the alleged "poaching" attempts by BJP, saying the saffron party had also "transported" MLAs in the past.

He said it was wrong for the Congress party to think that anti-incumbency will work automatically against the Modi-led government in the states being ruled by the BJP in the elections.

"We have to understand we are up against Mr Modi, Mr Shah. And they think differently, they act differently, and if we are not flexible in our approach, we will become irrelevant, frankly," the Congress leader said.

He said the Congress party must also recognise that India has changed. "Old slogans don't work, old formulas don't work, old mantras don't work. India has changed, the Congress party has to change," he said.

The former union minister hoped that party vice-president Rahul Gandhi would end the uncertainty over his taking over as the Congress president to make the party ready for crucial electoral battles in key states in 2018 and the Lok Sabha polls scheduled a year later.

"I think in all probability, Rahul Gandhi will take charge (as Congress president) before the end of 2017," he said.

The senior leader lamented that he had been proved wrong in the past about his prediction about Rahul's assuming charge of the top party job.

"I thought it will happen in 2015, it didn't happen. I thought it will happen in 2016, it didn't happen. So I am the wrong person to ask this question. I feel that it may happen before the end of 2017," Ramesh said.

He said he had "no" indication about appointment of Rahul Gandhi as Congress president.

"I have only expectation. That's all. In 2018 and 2019 you will be busy with elections. State elections, national elections...and this type of thing ...uncertainty is not good," and urged the Gandhi scion to "finish it off."

Asked if there is anyone in the Congress party to give a strong challenge to Modi in 2019 elections, Ramesh said, "I have always maintained that it is the collective strength of the Congress that will overcome Mr Modi not some individual magic wand".

"It has to be a collective effort," he said.

Ramesh took a potshots at party leaders who still behave as if the party is still in power.

"The sultanate has gone, but we behave as if we are sultans still. We have to completely redo the way of thinking, the way of acting, the way of projecting, the way of communicating.

"I think there is a lot of goodwill for the Congress, a lot of support for the Congress but people want to see a new Congress. They don't want to see old mantras, old slogans.

We must recognise this is a big challenge. Huge challenge for us," he said.

He said Nitish Kumar's return to the Indian fold was a big setback for anti-BJP coalition in the country, describing it as a "completely betrayal of the mandate" given to the Mahagathbandhan by the people of Bihar.

Ramesh, who shares a personal rapport with Kumar, said, "personally, I was aghast, astonished, deeply disappointed, but we have to move on and we don't have time."

Ramesh, representing Karnataka in the Rajya Sabha, expressed hope that the "revival" of Congress will happen in Karnataka next year as it had happened 40 years ago in 1978 in Chikmagalur Lok Sabha seat in the state which gave political rebirth to Indira Gandhi who faced defeat in Rae Bareli in the elections held after the Emergency.

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News Network
April 23,2020

Apr 23: Mukesh Ambani is again Asia's richest person after a deal with Mark Zuckerberg's Facebook Inc. sent his conglomerate's stock surging.

Ambani's fortune rose about $4.7 billion to $49.2 billion on Wednesday, after Reliance Industries Ltd. gained 10%. The jump put Ambani about $3.2 billion ahead of China's Jack Ma, according to the Bloomberg Billionaires Index. The ranking updates after the close of each trading day in the U.S.

Facebook Inc. will invest $5.7 billion in the U.S. social-networking giant's biggest deal since the 2014 purchase of WhatsApp as it seeks a broader foothold in its biggest global market. The U.S. company will buy about 10% of Jio Platforms, which brings together digital apps and a wireless platform under one umbrella, the Mumbai-based company said in a statement Wednesday.

Before Wednesday, Ambani -- who owns the world's largest oil refinery -- had declined by $14 billion on the index in 2020, the biggest dollar fall of anyone in Asia. Alibaba Group Holding Ltd.'s Ma, whose foundation this week donated 100 million masks to the World Health Organization to fight the Covid-19 pandemic, had lost almost $1 billion through Tuesday.

"At the core of our partnership is the commitment that Mark Zuckerberg, founder of Facebook, and I share for the all-around digital transformation of India," Ambani said in a web video posted on Jio's Facebook page, adding that Facebook's brands have become household names in India. "WhatsApp in particular, has entered our people's daily vocabulary in all the 23 official languages of India."

The partnership with Jio would allow Zuckerberg to step up his expansion in a country that is rapidly embracing online payment and e-commerce as more people get smartphones. Jio Infocomm quickly moved into a position of dominance by offering free plans and undercutting wireless market rivals.

With its half-billion internet users, the South Asian country is a key market for the world's largest technology companies, including Amazon.com Inc., Apple Inc., Microsoft Corp. and Alphabet Inc.'s Google. In India, Facebook has about 250 million users, while WhatsApp has more than 400 million.

That should help Jio bolster its reach, according to James Crabtree, author of 'The Billionaire Raj,' a book on the country's wealthiest people. But the transaction also shows the extent of Ambani's own influence, he said.

"This deal clearly shows that if you want to play big in Indian tech, you need to play nice with Mukesh Ambani."

Ambani's fortune rose about $4.7 billion to $49.2 billion on Wednesday, after Reliance Industries Ltd. gained 10%. The jump put Ambani about $3.2 billion ahead of China's Jack Ma, according to the Bloomberg Billionaires Index. The ranking updates after the close of each trading day in the U.S.

Facebook Inc. will invest $5.7 billion in the U.S. social-networking giant's biggest deal since the 2014 purchase of WhatsApp as it seeks a broader foothold in its biggest global market. The U.S. company will buy about 10% of Jio Platforms, which brings together digital apps and a wireless platform under one umbrella, the Mumbai-based company said in a statement Wednesday.

Before Wednesday, Ambani -- who owns the world's largest oil refinery -- had declined by $14 billion on the index in 2020, the biggest dollar fall of anyone in Asia. Alibaba Group Holding Ltd.'s Ma, whose foundation this week donated 100 million masks to the World Health Organization to fight the Covid-19 pandemic, had lost almost $1 billion through Tuesday.

"At the core of our partnership is the commitment that Mark Zuckerberg, founder of Facebook, and I share for the all-around digital transformation of India," Ambani said in a web video posted on Jio's Facebook page, adding that Facebook's brands have become household names in India. "WhatsApp in particular, has entered our people's daily vocabulary in all the 23 official languages of India."

The partnership with Jio would allow Zuckerberg to step up his expansion in a country that is rapidly embracing online payment and e-commerce as more people get smartphones. Jio Infocomm quickly moved into a position of dominance by offering free plans and undercutting wireless market rivals.

With its half-billion internet users, the South Asian country is a key market for the world's largest technology companies, including Amazon.com Inc., Apple Inc., Microsoft Corp. and Alphabet Inc.'s Google. In India, Facebook has about 250 million users, while WhatsApp has more than 400 million.

That should help Jio bolster its reach, according to James Crabtree, author of 'The Billionaire Raj,' a book on the country's wealthiest people. But the transaction also shows the extent of Ambani's own influence, he said.

"This deal clearly shows that if you want to play big in Indian tech, you need to play nice with Mukesh Ambani."

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Agencies
July 15,2020

Mumbai, Jul 15: In a mega investment announcement, Reliance Industries (RIL) Chairman Mukesh Ambani on Wednesday said that Google will invest ₹ 33,737 crore in Jio Platforms for an equity stake of 7.73%.

Google is investing at an equity valuation of ₹ 4.36 lakh crore, said an RIL regulatory filing.

"Jio Platforms Limited, a subsidiary of the Company, today signed binding agreements with Google International LLC pursuant to which Google would invest ₹ 33,737 crore for a 7.73 % equity stake in Jio Platforms Limited on a fully-diluted basis. Google is investing at an equity valuation of ₹ 4.36 lakh crore," it said.

The transaction is subject to customary regulatory approvals.

Speaking at the Annual General Meeting of RIL, Ambani said that he looks forward to working with investors in Jio Platforms in a collaborative way.

Making another major announcement, the RIL Chairman said that Jio has designed a complete 5G solution and it will be available for trials as soon as spectrum is available.

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News Network
July 1,2020

New Delhi, Jul 1: 18,653 COVID-19 cases have been reported in India in the last 24 hours, taking the country's tally of coronavirus cases to 5,85,493, informed the Union Health and Family Welfare Ministry on Wednesday.

As per the Ministry, there are presently 2,20,114 active cases in the country. The number of patients cured/discharged and migrated stands at 3,47,979.

507 deaths due to COVID-19 were reported in the last 24 hours taking the total deaths due to the virus to 17,400.

According to the ministry, Maharashtra is the worst-affected state by the virus with 1,74,761 cases including 7,855 fatalities.

Tamil Nadu is the second worst-hit state with 90,167 cases including 1,201 deaths. Meanwhile, Delhi has a total of 87,360 cases.

The Indian Council of Medical Research said that a total number of 86,26,585 tested up to June 30 of which 2,17,931 samples were tested on Tuesday.

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