DAILY FROM: AHMEDABAD, CHANDIGARH, DELHI, JAIPUR, KOLKATA, LUCKNOW, MUMBAI, NAGPUR, PUNE, VADODARA JOURNALISM OF COURAGE TUESDAY, APRIL 8, 2025, KOLKATA, LATE CITY, 14 PAGES BY UNNY US indices swing wildly, Sensex & Nifty tank 3%, highest since June Trump threatens additional 50% tariffs on China THE WORLD PAGE 10 Over 8,000 people attended the 2024 consecration event Ayodhya’s Ram Temple set to see another consecration event in May DIVYA A 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 implementing new levies. In fact, 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 withdraw the 34 per cent tariff ithadimposedonUSproducts last week. Inapostonsocialmediaplatform ‘Truth Social’, Trump said, CONTINUED ON PAGE 2 Focus on early India-US trade pact in talks between Rubio and Jaishankar TREMORS ACROSS WORLD MARKETS Indices Nifty 50 Apr 1, 2025 Apr 7, 2025 Difference (in %) 23,165.70 22,161.60 -4.33 Sensex HITESH VYAS MUMBAI, APRIL 7 EU LOOKS FOR TALKS WITH U.S. OVER TRUMP TARIFFS AT LEAST 30 KILLED IN ISRAELI STRIKES ACROSS GAZA `6.00 (`12 IN NORTH EAST STATES, `20 IN ANDAMAN) WWW.INDIANEXPRESS.COM GLOBAL MARKETS RATTLED OVER U.S. TARIFFS, FURTHER ESCALATIONS 76,024.51 73,137.90 -3.79 Dow Jones* 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 35,624.48 31,136.58 -12.59 2,521.39 2,328.20 -7.66 22,539.98 19,689.75 -12.64 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 WARNINGS ABOUT a Black Monday crash turned out to be prescientwithaglobalstockmarket bloodbath unfolding in the wake of last week’s meltdown over US President Donald Trump’s tariffs. This even as Trump defended his tariffs over the weekend, claiming a lot of countries are “dying to make a deal”andthatanyadjustmentin thestockmarketsis“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 reverses in the American stock markets and pressure from his own supporterswouldforceTrump ● to temper the tariff push. Secondly, the US President might indeed manage to extract concessionsfromsomecountries E EXPLAINED BUSINESS AS USUAL SINCE 1932 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,PAGE10 THE EDITORIAL PAGE READING THE FALL In a world without fair trade rules, India needs to be better prepared PAGE6 RELATEDREPORTS,PAGE5 External Affairs Minister S Jaishankar, US Secretary of State Marco Rubio. File SHUBHAJIT ROY NEW DELHI, APRIL 7 DAYSBEFORE the 26 per cent reciprocal 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 and the Caribbean... Agreed on CONTINUED ON PAGE 2 Chirag Paswan, Union Minister and LJP (RV) president, is guest at Express Adda today PRESIDENT BEGINS PORTUGAL VISIT President Droupadi Murmu lays a wreath at the tomb of poet Luis Vaz de Camoes in Lisbon, at the start of her two-day state visit to Portugal on Monday. PTI DAMOH, APRIL 7 A LEADING UK cardiologist who hadperformedhundredsof procedures, Dr Narendra John Camm’s resume was enough to earn him a post at Damoh’s MissionHospitalinJanuarywith a monthly salary of Rs 8 lakh. By CONTINUED ON PAGE 2 mid-February, though, he had quietlyresignedandcheckedout of his hotel. Now, police in Madhya Pradesh are probing allegations of fraud after the Child Welfare Committee red-flagged claims that at least seven patients died under his care. An FIR was filed on April 5 after the local Chief Health Medical Officer (CHMO), The accused was arrested in Prayagraj on Monday Dr M K Jain, complained that Camm performed angiography and angioplasty at the hospital ties in the appointment. In an emotionally charged meeting with thousands of affected teachers at Kolkata’s Netaji Indoor Stadium, the chief minister pledged to fight for their jobs, saying, “I know how tofightchallenges.Thisisnotthe court'sfaultbutof thosewhodid politics with the teachers. As long as I am alive, I will not let anyone snatch the jobs of eligible candidates... Even if I have to go to jail, I will keep fighting to CONTINUED ON PAGE 2 FULL COVERAGE PAGE 3 STRICT KYC, MONEY LAUNDERING NORMS Govt works on bringing online gaming firms under PMLA fold 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 In MP hospital, claims of 7 deaths, case of stolen identity from London, and one Dr N John Camm ANAND MOHAN J CONTINUED ON PAGE 2 ASSURING TO protect the jobs of governmentteachers whose appointments were cancelled by the Supreme Court last week, West Bengal Chief Minister Mamata Banerjee on Monday urged them to return to their respective schools and “voluntarily”resumedutieswhilehergovernment sought legal recourse. On April 3, the Supreme Court annulled the recruitment of 25,753 teachers and nonteaching staffers in West Bengal in 2016 over alleged irregulari- NEW DELHI, APRIL 7 NEW DELHI, APRIL 7 Union Minister and LJP (RV) chief Chirag Paswan KOLKATA, APRIL 7 SOUMYARENDRA BARIK & AANCHAL MAGAZINE EXPRESS NEWS SERVICE 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 Tuesday. He will be in conversation with Anant Goenka, Executive Director, The Indian Express Group, and Vandita Mishra, National Opinion Editor, The Indian Express. After facing a huge setback in 2021 when his party split, Paswan made a remarkable comeback in the Lok Sabha polls Mamata tells sacked teachers to work voluntarily for now SWEETY KUMARI NEW DELHI, APRIL 7 MORE THAN a year after the “pran pratishtha” ceremony of Ram Lalla, the Ram Temple in Ayodhyawillseeanotherconsecration 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 attended by more than 8,000 people, and presided by Prime Minister Narendra Modi. The event will also mark a kind of finale to the temple construction, which started in 2020 after the Supreme Court verdict mandated the setting up of a committee to oversee the construction. The temple construction committee is currently headed by Nripendra Misra, former Principal Secretary to the Prime Minister. Misra recently said that the construction of the temple complexwillbecompletedbytheend of this month while the remaining work on the “parkota”, or the compound wall, will be completedbeforetheendof thisyear. “About 20,000 cubic feet of stone is yet to be laid in the temple. The construction of the temple will be completed by around April 15,” Mishra had told reporters. “All the statues in the templesthatareoutsideorinside West Bengal CM Mamata Banerjee during an interaction with teachers affected by the Supreme Court’s order, at Kolkata’s Netaji Indoor Stadium on Monday. Partha Paul despite not having the requisite registration. Police say their probe will focus on whether Narendra John Camm is, in fact, an individual named Narendra Vikramaditya Yadav, who allegedly stole the identity of a UK-based cardiologist and professor. Superintendent of Police CONTINUED ON PAGE 2 record-keeping and reporting obligations for financial institutions—banks,financialintermediaries or a person carrying on a designated business or profession — by classifying them as reporting entities. A reporting entity, under PMLA, has to furnish information about its clients and transactions to Financial Intelligence Unit-India (FIU-IND) under the Ministry of Finance and follow a number of compliance obligations including maintaining a record of all transactions, documents evidencing identity of its clients and beneficial owners as well as account files and business correspondence relating to its clients. It is also subject to compliance with anti-money launderingandcounteringthefinancing of terrorism (AML/CFT) obligations, in line with norms of the CONTINUED ON PAGE 2 EXPRESS NETWORK E-SURVEILLANCE ALONG PAK BORDER SOON: SHAH U.S. SC REJECTS 26/11 ACCUSED TAHAWWUR RANA’S PLEA PAGE 4 A 1954 Pak trip & passport lost: Landmark six-year battle to prove citizenship SOHINI GHOSH GODHRA, NEW DELHI, AHMEDABAD, APRIL 7 JUST A few metres from the Godhra railway station, where a fire in coach S6 of Sabarmati Expressin2002hadledtowidespread communal violence across Gujarat, stands Patel ni chali (Patels’ dwelling). A dilapidated entryway leads to a clusterof two-storeyhomeswithjalousie windows, households without boundaries and gleeful childrenrunningamok,someon their bicycles, others chasing them. It was in Patel ni chali that Abdul Sattar Haji Ibrahim Patel was born in 1936. He went to school in Polan Bazar, just a few hundred metres from his house. Except for nearly three years, from1954to1957,whenhewent to bring his wife back to India, Abdul Sattar lived his entire life in Patel ni chali, till he turned 83 and died in 2019. He is buried at the Sheikh Ghanchi Kabrastan, a graveyard in Godhra. Yet, those three years framed Patel’sidentity,raisingquestions abouthisnationality.Heclaimed he was an Indian citizen under Article 5 of the Constitution and took the battle all the way to the 75 AN EXPRESS SERIES YEARS ON RESHAPING THE REPUBLIC CASE BY LANDMARK CASE 1964 ABDULSATTARHAJIIBRAHIMPATEL VSSTATEOFGUJARAT THE CASE: Godhra-born Patel took the battle to prove his Indian citizenship to the Supreme Court. He won the case in 1964 RELEVANCE TODAY: The ruling called for a fair evaluation of factors in determining one’s citizenship status. It set a benchmark for the Centre, to establish that a person is not an Indian before labelling him a foreigner An arched entryway leads to the residence of Abdul Sattar Haji Ibrahim Patel, in Gujarat’s Godhra. Bhupendra Rana Supreme Court. In 1964, a fivejudge Bench of the Supreme Court determined that he could indeed live in Patel ni chali. Today, it is occupied by his descendants — his four sons, four daughters and their families. His case, Abdul Sattar Haji Ibrahim Patel vs State Of Gujarat, called for a fair evaluation of factorsindeterminingone’scitizenship status in a new nation that was still coming to terms with Partition. The ruling may not be a landmark ruling that carried political stakes, but it exemplified how ordinarymenlike Patel put their extraordinary faith in the Constitution. Godhra-based advocate Yusuf Charkha says, “This was a landmark case, in the sense that it laid out that the Central government has to first determine citizenship of a person and establish that they have lost Indian nationalitybeforethepersoncan betreatedasaforeignerandface actions accordingly, including deportationorcriminaloffence.” The case Godhra, no stranger to communal riots, had seen “very serious” riots in 1948, following Partition,accordingtotheJustice Nanavati-Mehta Commission of CONTINUED ON PAGE 2 Kolkata