Yatnal claims secret power-sharing deal between Siddaramaiah and DKS
Speaking to reporters at the JM Institute guesthouse in Davangere on Saturday, Yatnal claimed that CM Siddaramaiah has agreed to step down before completing his full tenure, making way for Shivakumar to take over as Chief Minister. As per the alleged understanding, BJP State President B.Y. Vijayendra would be made Deputy Chief Minister under the new arrangement, Yatnal asserted.
'There is no real intention within the Congress to allow DK Shivakumar to become Chief Minister. Yet an agreement exists with him to form the next government,' Yatnal said. 'I will pursue a new political path if required, but I will not return to the Congress,' he added.
'No capable leadership in BJP'
In a scathing critique of his own party's state leadership, Yatnal said, 'The BJP lacks competent leadership in Karnataka. Even in events attended by Vijayendra, barely a thousand people show up.
This shows the weakness of the current leadership. A new force is likely to emerge soon within the party,' he predicted.
He also pointed to internal fractures in the Veerashaiva-Lingayat community's political consolidation and accused BJP MP B.Y. Raghavendra and former Chief Minister B.S. Yediyurappa of receiving tacit support from senior Congress leader Shamanur Shivashankarappa.
Allegations of 'CD politics'
Yatnal alleged that both Vijayendra and Shivakumar had been involved in controversies surrounding objectionable video clips. 'Vijayendra too was once part of a CD scandal, but the case was closed after the videos were deleted. DK Shivakumar is known to play similar games,' he claimed without offering evidence.
'Congress only offers guarantees, not governance'
He dismissed the Congress's performance in office, accusing the party of offering 'guarantees' without delivering meaningful governance. 'The only achievement Congress leaders can claim is the much-hyped 'five guarantees'. Now they are planning a 'Sadhana Samavesha' (progress rally) in Hospet, as if they have transformed the state,' he said.
Yatnal also questioned Congress's role in the country's freedom movement, stating, 'India did not gain independence because of Congress. If anyone contributed to our freedom, it was Netaji Subhas Chandra Bose.'
Criticism of ministers and Rahul Gandhi
Taking aim at state ministers Priyank Kharge and Santosh Lad, Yatnal alleged their public statements were damaging to national unity. 'Their remarks seem more intended to please Pakistan sympathisers than to uphold Indian values. If they had any self-respect, they would remain silent,' he said.
Yatnal also attacked Congress leader Rahul Gandhi, branding him 'Pakistan's hero,' and criticised CM Siddaramaiah for what he called a 'soft stance' on national security issues. 'When it comes to matters of national interest, politics should take a back seat,' he added.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
23 minutes ago
- Hindustan Times
Trump's tariff on India to do little to upset iPhone manufacturing plans
By Munsif Vengattil Trump's tariff on India to do little to upset iPhone manufacturing plans BENGALURU -President Donald Trump's 25% tariffs on Indian goods will do little to slow the role of the Asian country as a key hub for manufacturing iPhones, even when it means more expensive smartphones for U.S. consumers, analysts and industry executives said. Apple has realigned its India exports to almost exclusively serve the U.S. market, with nearly all the $3.2 billion-worth iPhones exported by Foxconn from India going to the United States between March and May. It's "too early to say" if recent events or future changes in Trump's stance will alter Apple's manufacturing plans in India, an industry executive familiar with Apple's strategy said. "These plans are made with a longer window." Trump on Wednesday imposed a 25% tariff on goods imported from the country, effective Friday, a move that sent jitters across India Inc, though some view it as a negotiation tactic. For Apple, India is now central to its strategy of diversifying manufacturing beyond China, where geopolitical pressures have pushed it to consider alternative bases. India supplied 71% of all iPhones sold in the U.S. market between April and June, up from 31% a year earlier, driven by a corresponding decline in shipments from China, according to Counterpoint Research. Despite the newly announced tariffs, manufacturing iPhones in India would continue to remain cost-competitive, with expenses lower than when Apple began production there eight years ago, narrowing the cost gap with China, analysts said. Factors like growing local component availability, federal government incentives, and wages nearly half those in China have positioned India as one of the top two iPhone-producing countries, alongside China. "Making supply chain adjustments, particularly with new iPhone models nearing release, is unlikely due to the complex factors involved. It is expected to be business as usual, especially with a resilient supply chain like Apple," said Tarun Pathak, a research director at Counterpoint. TRUMP'S IRE Trump has repeatedly targeted Apple for making U.S.-sold iPhones outside the country by threats including company-specific tariffs, but hurdles like high costs, technological shortcomings, and legal issues have stood in the way. In May, he recalled telling Apple CEO Tim Cook: "we put up with all the plants you built in China for years ... we are not interested in you building in India, India can take care of themselves". Apple would rather absorb the higher costs for iPhones sold in the United States than to slam the brakes on its India expansion, said Faisal Kawoosa, chief analyst at Indian research firm Techarc. "Given that sales in the U.S. are largely operator-driven and sold as part of plans, it might mean adding a few more dollars to monthly plans rather than giving an upfront blow to consumers". This article was generated from an automated news agency feed without modifications to text.
Hindustan Times
23 minutes ago
- Hindustan Times
What does US-Pakistan trade deal over 'massive oil reserves' mean for India?
In what appears to be a pressure tactic, US President Donald Trump has announced a trade deal with Pakistan while threatening 25% tariffs on Indian goods, saying that Washington would help Islamabad develop its 'massive oil reserves.' Pakistan's Prime Minister Shehbaz Sharif (left) on Thursday thanked US President Donald Trump for the 'historic' trade agreement reached between Islamabad and Washington.(Reuters and AP file) In a social media post, the US President wondered if Pakistan could sell oil to India 'some day'. 'We have just concluded a deal with the country of Pakistan, whereby Pakistan and the United States will work together on developing their massive oil reserves," Donald Trump said in a post on Truth Social on Wednesday. Pakistan's Prime Minister Shehbaz Sharif on Thursday thanked Donald Trump for the 'historic' trade agreement reached between Islamabad and Washington, and expressed hope that it would expand cooperation between the two nations. 'I wish to convey my profound thanks to President Trump @realDonaldTrump for his leadership role in finalization of the historic US-Pakistan trade agreement, successfully concluded by our two sides in Washington, last night,' he wrote on X. 'This landmark deal will enhance our growing cooperation so as to expand the frontiers of our enduring partnership in days to come,' he said. What is US-Pakistan oil agreement? It is not immediately clear what massive oil reserves in Pakistan Trump was referring to. Trump also made no mention of tariffs in his announcement. "We are in the process of choosing the oil company that will lead this partnership. Who knows, maybe they'll be selling oil to India some day!' Trump said. What does it mean for Pakistan? Pakistan has long claimed to have large oil deposits along its coast, but no progress has been made to tap those deposits. It has been trying to lure in investments to tap into these reserves. Pakistan currently imports oil from the Middle East to meet its energy demands. The deal was reached during a meeting between Pakistan's finance minister Muhammad Aurangzeb, US secretary of commerce Howard Lutnick, and US trade representative ambassador Jamieson Greer in Washington, DC, according to Radio Pakistan. The trade agreement aims at boosting bilateral trade, expanding market access, attracting investment and fostering cooperation in areas of mutual interest, the report said. 'The agreement will result in a reduction of reciprocal tariffs especially on Pakistani exports to the United States. This deal marks the beginning of a new era of economic collaboration especially in energy, mines and minerals, IT, cryptocurrency and other sectors,' it added. What does US-Pakistan trade deal mean for India? It's not clear immediately. The announcement is being seen as a pressure tactic to get New Delhi to agree to demands made by the US, which has, in recent days, got favourable trade deals with major partners like Japan, the UK and the European Union. The announcement came hours after Trump announced a 25 per cent tariff on all goods coming from India, plus an additional unspecified penalty for purchases of Russian military equipment and energy. In a social media post, Trump called India's trade policies "most strenuous and obnoxious". "All things not good! India will therefore be paying a tariff of 25 per cent, plus a penalty for the above, starting on August first," Trump said. During the day, he spoke multiple times about the tariffs that India imposes and referred to India's membership in the BRICS (Brazil, Russia, India, China and South Africa) grouping, which he described as "anti-US". Responding to a question on negotiations with India, Trump said Washington is talking to Delhi. "...We are going to see, we are negotiating with India right now,' he said, while calling India's tariff "one of the highest tariffs in the world". What India said India said it has 'taken note" of Trump's statement on bilateral trade and the Government is studying its implications. 'India and the US have been engaged in negotiations on concluding a fair, balanced and mutually beneficial bilateral trade agreement over the last few months. We remain committed to that objective,' the statement said. Trump has set the August 1 date for his tariffs to go into effect.
Hindustan Times
23 minutes ago
- Hindustan Times
Donald Trump puts 25% tariff plus penalty on India. Who is at risk?
US President Donald Trump's imposition of 25 per cent reciprocal tariffs on Indian goods and an unspecified penalty over purchases from Russia, which will take effect on August 1, could damage several sectors -- from textiles to pharmaceuticals. Announcing the 25% tariff, Donald Trump said that India's tariff rates were "among the highest in the World".(X/@narendramodi) In a post on Truth Social, Trump said that India's tariffs were "among the highest in the World", adding that New Delhi has the "most strenuous and obnoxious non-monetary Trade Barriers of any country". He also threatened a penalty due to India's energy and military purchases from Russia, against the backdrop of the war in Ukraine. The US's total goods trade with India stood at an estimated $129.2 billion in 2024. India's exports to the US totalled $87.4 billion in 2024, a 4.5 per cent increase from 2023. India's trade surplus with the US, which is its largest export market, stood at 1.2 per cent of the GDP in 2024. While there's no clarity right now on sectoral rates and the penalty level, pharmaceutical, textile, gems and jeweller are among the industries that potentially stand exposed to the Trump tariffs. Here's who could be at risk: Pharmaceuticals India is the largest exporter of non-patented drugs to the US at an approximate value of $8 billion per year. US accounts for nearly one-third of India's pharma exports -- around $9 billion in FY2024. Shares of some of India's biggest companies, including Sun Pharmaceutical Industries Ltd., Dr Reddy's Laboratories Ltd. and Cipla Ltd., fell on Thursday as they earn at least 30 per cent of their revenue from America. However, drugmakers still hold the hope for a lower rate on these items. Namit Joshi, chairman of Pharmaceuticals Export Promotion Council of India, told Bloomberg News, "Tariff on Indian generic pharmaceuticals would pose huge challenges for US pharma supply chain. May be it will attract only a base tariff of 10 per cent." He further said that Pharma companies have been preparing themselves for years for some kind of levy that the US could impose by acquiring assets in America. According to IQVIA, four out of every 10 prescriptions in the US in 2022 were supplied by Indian pharma companies. Overall, medicines from India saved the American health care system nearly $220 billion in 2022 and a total of $1.3 trillion in the decade through that year. Textiles Indian home fabrics, apparel and shoe makers serve the global supply chains of massive American retailers, including Walmart Inc., The Gap Inc., Pepe Jeans and Costco Wholesale Corp. Shares of textile firms like Vardhman Textiles Ltd. were down six per cent, Welspun Living Ltd. 6.5 per cent, and Indo Count Industries Ltd. fell 7.4 per cent. This poses a "stiff challenge" for the textiles and apparel sector, said the Confederation of Indian Textile Industry in a statement. "It will seriously test the resolve and resilience of India's textile and apparel exporters as we will not enjoy a significant duty differential advantage," they added. Gems and Jewellery India's Gem and Jewellery Export Promotion Council said in a statement late Wednesday that the tariff is a "deeply concerning development" that could obstruct supply chains and threaten the livelihoods of thousands of people, with the gems sector being "severely impacted". America accounts for more than $10 billion worth of India's gems and jewellery exports. The trade group said that a blanket tariff will "inflate costs, delay shipments, distort pricing, and place immense pressure on every part of the value chain' from workers to large-scale manufacturers. Electronics India's smartphone exports to the US increased almost fivefold in the past three years. The nation overtook China to become America's top source for smartphones, after Apple Inc. moved to assemble more of its iPhones in India. The smartphone exports of India rose by 55 per cent to USD 24.14 billion in 2024-25 from USD 15.57 billion in 2023-24 and USD 10.96 billion in 2023-23. The top five nations where India registered the highest growth were the US, the Netherlands, Italy, Japan, and Czech Republic. Exports to the US alone surged from USD 2.16 billion in 2022-23 to USD 5.57 billion in 2023-24 and USD 10.6 billion in 2024-25. However, Trump's reciprocal tariff could put the smartphone exports at risk. "Apple's US iPhone sourcing strategy from India to circumvent China tariffs could be meaningfully set back if tariffs in India extend to 25 per cent," Bloomberg reported, citing its intelligence analysts. "A 25 per cent surcharge would most likely force Apple to revise this plan," they added. The impact would not be as straightforward as the Trump administration had in April placed smartphones, computers, and other electronics under exemption from reciprocal tariffs. After this, the US Commerce Department used Section 232 of the Trade Expansion Act to launch probes into sectors that are essential for national security, such as semiconductors. Until these investigations are complete, smartphone exports to the US will not face any tariffs. If Trump decides to use his powers under Section 232 to impose duties on iPhone imports to the US, then it could force Apple Inc. to limit suppliers, including those in India. Oil Refining The proposed penalty on Russian oil imports, if imposed, could hurt the major Indian refineries. Shares of state-run refiners like Indian Oil Corp., Bharat Petroleum Corp. and Hindustan Petroleum Corp. fell, with those of private firms like Reliance Industries Ltd. dropping 2 per cent. India gets around 37 per cent of its oil imports from Russia. The barrels from Moscow come at a discount to market rates and have played a key support role for gross refining margins. If Russian oil is no longer available, the cost of imports will surge, hurting the refiners' profits. Earlier this year, Reliance signed a deal to purchase as much as 500,000 barrels per day from Russia to become India's largest buyer of Russian crude. Auto components Among other sectors that take the most hit is 'auto components'. Though Indian automakers do not have much exposure in the US, parts makers like Bharat Forge and Sona BLW stand vulnerable in the face of Trump tariffs on India. Meanwhile, Tata Motors' Jaguar Land Rover unit is protected under the US-UK/EU trade arrangements. Capital goods and chemicals might also be hurt by the Trump tariffs. Companies like Cummins India, Thermax and KEI Industries reportedly have 5-15 per cent US exposure. (with inputs from agencies)
