In this episode of 'Editorial', HW News' Managing Editor Mr. Sujit Nair tries to draw parallel between 2 legislations, one where the US President Donald Trump paused the Foreign Corrupt Practices Act for 180 days which might benefit Indian industrialist Gautam Adani in his US indictment and the second where the Modi Government slashed tariffs on American cars and bikes, which might help Elon Musk expose his Tesla to Indian markets. Do these two legislations serve a purpose? Mr. Sujit Nair asks.
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[00:00:00] Namaskar Welcome to another episode of Editorial. So today I have a very interesting episode and my episode is about three stories. Three stories which are not necessarily connected but are they? That's something you will have to decide.
[00:00:22] So like I said interesting let's get right into the show. You see in United States of America there is a gentleman called Elon Musk. Elon Musk is not an American. He was not born an American. He was born a South African. But today he is possible possibly the most powerful man in America. And he is also one of the richest man on planet Earth. Elon Musk.
[00:00:59] The fact is I think Elon Musk was more happy to see Trump as president than possibly Trump himself. And he was quite vocal and quite open about his exuberance, his happiness, his ecstasy when he saw Trump emerge as the president of United States.
[00:01:25] In India, in India, a lot of people also say that the government has been supporting Adani. In India a lot of people say that the government has been kind of very different when it comes to matters regarding Adani.
[00:01:54] The government of India seems to be kind of very defensive when there is an offense or when there is an allegation against Adani. This is what people say. Whether it is right or wrong I don't know. But this is what has been told. This is what is the perception.
[00:02:12] So this is story number one. So in America there is Elon Musk who has openly, openly, openly, openly kind of vocally and like I told you through his actions and through his events and all of that has expressed that he is the happiest person on earth because Trump became the president.
[00:02:35] And he has spent a lot of money on the elections of Mr. Trump and all of that. And here while there is no report that Adani has spent money on Modi's elections nor has Adani been very vocal or been holding events to celebrate Mr. Modi's victory. But here people, a lot of reports also say that the government has been too protective about Adani. So story number one. Let's keep this aside.
[00:03:07] Story number two. You see, the Trump administration, the Trump administration has put a pause on this act called FCPA. FCPA is Foreign Corrupt Practices Act. He has put a stop to that act. He has put a stop to that act.
[00:03:32] He has paused that act for 180 days and he has asked his attorney general to have a relook at this act. 180 days, pause. Now, if you remember, the central allegation on Adani in that American case was whatever, FCPA. Foreign Corrupt Practices Act.
[00:04:01] This was the central allegation. Adani was alleged of corrupting up to 250 million, which is around 2,100 crores. They alleged that Adani companies corrupted Andhra Pradesh government and Andhra Pradesh, including Andhra Pradesh chief minister, to the tune of 2,100 crores. This was the allegation. This was the allegation. Nothing was proven. No conviction. Nothing. Allegation. Okay. Under which act? FCPA.
[00:04:32] And one of the first initial decisions that Mr. Trump took was pause. FCPA Act. Okay. Good. Thik hai. Story number two. Let's keep that aside. Story number three. Now, my story number three. My story number three starts with Elon Musk.
[00:05:03] Elon Musk because Elon Musk owns this company called Tesla. Tesla wanted to come to India. But he didn't. But he didn't. The deal broke off. Why? Because Elon Musk and his team felt that, Baba, the tariff is very high. He said, the tariff that India charges for American cars are very high. I don't want to come. So, he didn't come.
[00:05:33] Now, cut to tomorrow. Our good Prime Minister, Mr. Narendra Modi is visiting United States of America to meet his good friend, Mr. Donald Trump, the President of United States. Now, as part of his gift, he is carrying a 30% reduction, 30% reduction on tariff on American cars and motorcycles.
[00:06:05] So, American cars now will be sold at a 30% reduced tariff price. Does it benefit Elon Musk? Is this possibly what Elon Musk wanted when he was initially trying to come into India to launch his product into India? One of the world's largest market? Wasn't it? So, this is my story number three.
[00:06:35] Like I told you, I am not saying any of these are related. So, to conclude, our Prime Minister is meeting President Trump tomorrow. 13th of February in White House. Now, before, incidentally, before this meeting, like I told you, Trump has put a pause on FCPA.
[00:07:02] This pause could help Adanis. Could help Adanis. We don't know. Could help Adanis. Prime Minister Narendra Modi is carrying a tariff cut on American cars and motorcycles. This tariff cut could help Elon Musk. Now, the story is that all this is very good. But what does a common Indian get out of all this?
[00:07:32] Is there going to be some benefit for common Indians? Is there going to be some trade packages that our good Prime Minister will get back with him when he comes back to India from his United States trip? Is there going to be some job employment benefits that our good Prime Minister will get back with him when he comes back to India? Is there anything in all of this for a common Indian?
[00:08:01] This will be something that will be of interest to me because it is of interest to a common Indian. Till I see you next time. That's tomorrow at 10. Namaskar.