DAILY FROM: AHMEDABAD, CHANDIGARH, DELHI, JAIPUR, KOLKATA, LUCKNOW, MUMBAI, NAGPUR, PUNE, VADODARA JOURNALISM OF COURAGE TUESDAY, APRIL 8, 2025, NEW DELHI, LATE CITY, 20 PAGES BUSINESS AS USUAL BY UNNY GLOBAL MARKETS RATTLED OVER U.S. TARIFFS, FURTHER ESCALATIONS NEW DELHI, APRIL 7 MORE THAN a year after the “pran pratishtha” ceremony of Ram Lalla, the Ram Temple in Ayodhya will see another consecration ceremony next month, TheIndianExpresshaslearnt.The event will mark Lord Ram as the King,anditwillfollowtheinstallationof theRamDurbarorroyal courtonthefirstfloorof thetemple later this month. Preparations are underway for the ceremony and those aware of the matter said it will be low-key as compared to the scale of the grand event held on January 22 last year, which was CONTINUED ON PAGE 2 EXPRESS NETWORK E-SURVEILLANCE ALONG PAK BORDER SOON, SAYS SHAH PAGE 7 Indices Apr 1, 2025 Apr 7, 2025 Difference (in %) Nifty 50 AFTER LOSING $6.6 trillion in value over two days last week, US stocks were highly volatile Monday with the Dow Jones Industrial Average swinging wildly over 2,400 points in the first hour of trading, and down 2 per cent at 10.30 am (EST). The Nasdaq Composite also yo-yoed 1,125points,andwasdown1per cent at 10.30 am. Globally, markets crashed, with Nifty and Sensex in India down almost 5 per cent in the morning, but ending the day 33.25 per cent down. It was their biggest single day fall since June last year, tracking the nervousness and fall in equity markets globally amid fears of escalation in trade wars after US President DonaldTrumpannouncedreciprocal tariffs last week. During the day, stocks in the US rallied on expectations of a thaw on the tariff front. The administration, however, clarified there would be no delay in implementingnewlevies.Infact, in another round of escalation, US President Donald Trump threatened additional tariffs of 50 per cent on US imports from China if the latter did not CONTINUED ON PAGE 2 MORE REPORTS P 15 -4.33 73,137.90 -3.79 41,989.96 37,879.65 -9.78 Hang Seng 23,206.84 19,828.30 -14.55 Shanghai Composite 3,348.44 3,096.58 -7.52 Euro Stoxx 50 5,320.30 4,662.45 -12.36 Nikkei 225 MUMBAI, APRIL 7 22,161.60 76,024.51 Dow Jones* HITESH VYAS 23,165.70 Sensex 35,624.48 31,136.58 -12.59 2,521.39 2,328.20 -7.66 22,539.98 19,689.75 -12.64 Govt works to bring online gaming firms under PMLA fold Focus on early India-US trade pact in talks between Rubio and Jaishankar TREMORS ACROSS WORLD MARKETS KOSPI Dax *April 7 opening level The Bombay Stock Exchange on Monday. Ganesh Shirsekar GROWING OPPOSITION WITHIN After Black Monday: What could be endgame for Trump tariffs? ANIL SASI NEW DELHI, APRIL 7 E WARNINGS ABOUT a Black Monday crash ● turned out to be prescient with a global stock market bloodbath unfolding in the wake of last week’s meltdown over US PresidentDonaldTrump’stariffs. ThisevenasTrumpdefended his tariffs over the weekend, EXPLAINED DIVYA A STRICT KYC, MONEY LAUNDERING NORMS US indices swing wildly, Sensex & Nifty tank 3%, highest since June Trump threatens additional 50% tariffs on China Ayodhya’s Ram Temple set to see another consecration event in May `7.00 (`8 BIHAR & RAIPUR, `15 SRINAGAR) WWW.INDIANEXPRESS.COM SINCE 1932 claiming a lot of countries are “dying to make a deal” and that anyadjustmentinthestockmarkets is “temporary”. While analysts who said Trumpisunlikelytowalkhistariff talk have been proven wrong, there is a growing view that these tariffs might not last. Likely tariff endgame One possibility is that the reversesintheAmericanstockmarkets and pressure from his own CONTINUED ON PAGE 2 EXPERTS EXPLAIN Follow dharma of asset allocation NILESHSHAH Hold on to large-cap investments ANISHTAWAKLEY Next few months, invest in staggered manner PRASHANTJAIN EXPLAINED,PAGE17 THE EDITORIAL PAGE READING THE FALL In a world without fair trade rules, India needs to be better prepared PAGE12 File S Jaishankar, Marco Rubio SHUBHAJIT ROY NEW DELHI, APRIL 7 DAYSBEFOREthe26percentreciprocal tariffs imposed on India by the President Donald Trumpled US administration come into effect, External Affairs Minister S Jaishankar spoke to US Secretary of State Marco Rubio on Monday. The two sides “agreedontheimportanceof the early conclusion of the Bilateral Trade Agreement”. India and the US started negotiations on the trade deal after Prime Minister Narendra Modi met Trump in Washington DC in mid-February. “Good to speak with @SecRubio today. Exchanged perspectives on the Indo-Pacific, the Indian sub-continent, Europe, Middle East/West Asia CONTINUED ON PAGE 2 Unaccounted money circulating, will clean up compliance in sector: Official SOUMYARENDRA BARIK & AANCHAL MAGAZINE NEW DELHI, APRIL 7 THE CENTRE is in advanced stages of finalising a move that could bring online real-money gaming companies such as Dream11, Games24x7, and Winzo under the ambit of antimoneylaunderinglawsandsubject them to stricter obligations such as know-your-customer (KYC) requirements, and tracking and reporting suspicious transactions, The Indian Express has learnt. The proposal, steered by the Ministry of Finance and sent for inter-ministerial consultations, couldresultinonlinereal-money gaming companies getting denoted as “reporting entities” under the Prevention of Money Laundering Act (PMLA), 2002. PMLA stipulates certain record-keeping and reporting obligations for financial institutions—banks,financialintermediaries or a person carrying on a designated business or profession — by classifying them as CONTINUED ON PAGE 2 Chirag Paswan is guest at Express Adda today EXPRESS NEWS SERVICE NEW DELHI, APRIL 7 FROMWINNINGallfiveseatshis party contested in the 2024 Lok Sabhaelectionstosecuringakey portfolio in the Union Cabinet, the past year has been eventful for Lok Janshakti Party (Ram Vilas) president Chirag Paswan, the Union Minister of Food Processing Industries. Paswan, 42, will be the guest at the Express Adda in Delhi on CONTINUED ON PAGE 2 Union Minister and LJP (RV) chief Chirag Paswan