Join us for an insightful episode of Editors' Roundtable where we delve into India's significant participation in the G7 Summit and its expanding international role. Our expert panel discusses the key highlights of Prime Minister Narendra Modi's visit to Italy, including his pivotal bilateral talks with Italian Prime Minister Georgia Meloni. Explore the broader implications of India's strategies on the global stage, economic partnerships, and diplomatic engagements. Don't miss this comprehensive analysis and expert opinions on India's evolving international presence and its impact on global geopolitics. Tune in for an in-depth discussion on the G7 and India's future.
#Italy #G7Summit #ItalianParliament #PoliticalBrawl #BreakingNews #ItalyG7 #G7Summit2024 #ModiG7Summit #ModiMeloni #Melodi #ItalianParliament
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#Italy #G7Summit #ItalianParliament #PoliticalBrawl #BreakingNews #ItalyG7 #G7Summit2024 #ModiG7Summit #ModiMeloni #Melodi #ItalianParliament
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NewsTranscript
00:00Hello and welcome to this another episode of Editor's Roundtable where we bring you
00:05the overall perspective of the developments that shaped this particular week and needless to say
00:12one thing that is making headlines as of now is Prime Minister in Italy, the way he is meeting
00:17with all the state heads charting out the way ahead for not just the world but also making
00:25India's path also very solid and secure as far as the international foray is concerned. Joining
00:32us today is Shruti Sarkar, you have seen her analyzing the business and the markets but today
00:37she will be sharing with us the importance of India's diplomacy in the times of war, in the
00:45times of peace and even beyond. Keshav Karna, you have seen him as the editor of OneIndiaHindi.com
00:54and here he is with us so also sharing the insights on the international affairs and last
00:58but not the least Ritesh Ghosh all the way from Kolkata, Didi's land as I fondly call it. Ritesh
01:05thank you so much for joining us all the way from OneIndia Bangla. Shruti let me begin with you
01:10first. Prime Minister Modi's outreach to these nations especially when India is not part of the
01:18G7 or the signatory as well but India has a definite space. What do you think that makes
01:24India Prime Minister Modi so much liked and irreplaceable I would say in gatherings like
01:30these in world forums like these? Thank you for the question Pankaj. Now Narendra Modi has
01:40a very strong position here although India is not part of G7, our Prime Minister is kind of
01:46the bridge between G7 and other countries. There are a few other South African countries also
01:52invited to the G7 summit and as of now while talks about Russia-Ukraine war and
02:02Gaza war was important I think the focus has shifted to China.
02:11How China is basically supplying semiconductor chips to Russia which could be a global
02:18China has the capacity to manufacture and supply a huge amount of semiconductors to
02:27Russia and although there has been sanctions by EU and many many sanctions
02:37by different countries to Russia, I think Russia also holds a very strong position.
02:43India as of now has a very diplomatic stance against this although
02:50British PM Rishi Sunak or Biden have imposed sanctions through Russia and
02:57they don't want to talk. They have a very strong stance against Russia as of now. What is interesting
03:05in this summit is that Pope Francis is going to be talking about artificial intelligence.
03:13I think this is a historic moment where I think this is the first time that he's going to come
03:18and join the EU summit and G7 summit and going to express his views on artificial intelligence
03:26which is obviously top of the hour. I also think that Prime Minister Modi will probably
03:34have a word with Canadian Prime Minister Justin Trudeau and we have some kind of
03:40dented relationship I think right now and we'll see how it goes.
03:46Absolutely. See the points that you mentioned I completely concur here and
03:54Keshav I would like to draw your attention towards the very fact that
03:58see we just had an elections in the country and the BJP, the ruling party from which Prime
04:04Minister Modi comes has faced if not a setback some sort of losses have been there as we all know.
04:14Now knowing the foothold that Prime Minister Modi has in India, the world's biggest democracy,
04:21there are certain issues which also could be an eyesore for India. Keshav,
04:28how do you see the stance of US, Canada, Germany for that matter on the issue of the
04:36alleged Pannu murder plot? They have said that they will raise it at a very serious level.
04:43How do you see this as a setback or India could come out of it all clean?
04:49No, definitely. See, first of all, I would start with saying that
04:54India is not a part of G7. Still, for the fifth consecutive time, India has been invited
05:01as an special you know, invitee to the G7 summit. G7 itself is a group of the
05:08most powerful countries in the world. So it definitely approves of the growing progress
05:14of India on the you know, global stair. But it comes to this Pannu related issue. Definitely,
05:23I mean, US, the UK, I mean, for that matter, the Western world would put some pressure on India.
05:30But India, I think in the literacy of Prime Minister Modi is, you know, quite capable of
05:38coming out of it. In the same breath, I would like to, you know, bring your attention to the
05:45incident that happened in Italy in the backdrop of this G7 summit. The statue of Gandhi was defaced
05:56before a few days ago. Yes, just a few days ago. Prime Minister Modi and a special invitee to the
06:05summit. In parallel, he was meeting all the world leaders, the head of the member countries of
06:14G7. He met Zelensky, he met Zelensky of Ukraine, not a part of G7, but he met Zelensky, he met
06:24German Chancellor, he met Macron. But the Indian Prime Minister did not have any meeting
06:35with the Canadian counterpart, Trudeau. Somehow, you know, it reflects the bitterness
06:43that the G20 history is still aflush. Yes, inside India, that somehow reflects at the G7
06:59summit, parallel side of G7 summit. Prime Minister not having any word with Trudeau
07:06is something which will bring the attention of the world media. And, you know,
07:12it approves a kind of commitment of not, you know, making any compromise with India's interest.
07:21When it comes to, you know, taking the external forces, or, you know, the non-estate elements
07:32like Khalistani. Because this Gandhi statue was allegedly defaced by Khalistan supporter
07:40and social elements. Right. And you're right, Keshav.
07:46Ritesh, you come from a state to which primarily, you know, is being seen as
07:53against, you know, Prime Minister Modi and his policies, if I may speak in general terms.
08:01For India, as of now, attending G7 meet, there is a Pannu incident there, then there is
08:09the Khalistani leader who was killed in Canada. That particular incident that Keshav was also
08:16mentioning, is there the animosity between India and Canada, and how the US, the Labour of Canada
08:23might support Canada on its claims there. Do you believe that these international affairs also,
08:31somewhere down the line, put India on the spot?
08:34There are some challenges also.
08:40Yes, Pankaj ji, there are some challenges, of course, but as Shruti and Keshav ji also mentioning,
08:46we have to keep in mind that over the past decades, the world's centre of economic epicentre
08:53has shifted further. So, it is shifted further from West, and it will continue to slip further.
09:02So, in this decade, in the next decade, India is going to be the stakeholder,
09:09if we like or don't like, India is going to take the charge. So, that is the main important thing.
09:16And whether it is G7, G8 or G20, the world leaders, the world, other nations has to give India the
09:24value India is waiting for decades. So, this is the main thing. Another thing I just, as Keshav
09:34ji was mentioning the political thing, I just want to add one thing, like in this summit,
09:43see, if you see US President Joe Biden is going there behind Donald Trump in many polls ahead of
09:51the November election. UK Prime Minister Rishi Sunak is not in a good track. Same with Macron
10:00also. And even Modi also gone there, not in a favourable position. Yes, they had gone the
10:07distance, they have said the government but still, there is some shakiness in the lower leaders.
10:15And for that matter, Trudeau and Kishida also is going into elections.
10:19Elections. Yes, absolutely. Absolutely. Only safest position, I think German Chancellor,
10:23who is there, you know, recently inducted maybe a couple of years ago.
10:29Shruti, talking about the elephant in the room, China, you mentioned it in your
10:36initial conversation also that how China is supplying ships and semiconductors to Russia.
10:44Now, this meeting of G7 comes at a time when two parts of the world are at war. You have Russia and
10:51Ukraine and then you have Israel and Hamas also fighting. If we can pull in Iran, couldn't be
10:57wrong that as well. The question here is China too has its own rumblings with Taiwan and Taiwan
11:04is one of the biggest and now Philippines also in the troubled waters. So now the question here is,
11:12how does the world see these seven members who are the most powerful nations? Do they have the
11:17courage to call out China or is it just the business interest that will topple everything
11:21and China would still remain on top? See, when there was trade war with China, with US-China
11:28trade war a few years back when Trump was president, I don't really think that, you know,
11:33they could do, they could damage China's economy. Okay. Now, there is a real estate crunch in China
11:41but the kind of, if I could say that the kind of economy it is, I think nobody can touch
11:49China for the next five years. Now, having said that, all these G7 economies, these countries,
11:56be it US, be it UK, be it Canada, their growth is growing basically and that is a sign that there
12:06may be recession in the coming years, right? So, if that happens and, you know, they have
12:13presumably, they have very high interest rates as of now, plus their political stance,
12:23if I could call it shaky, maybe, there are elections coming, there are uncertainties.
12:30As of now, China is a very, very big threat to the world, if I could say. Along with that,
12:37you know, they are, so what G7 has done is, they have issued a billion dollar loan to Ukraine,
12:45which is, you know, which is how they are showing support to Ukraine.
12:51Even NATO forces are on standby.
12:53Yes, yes. However, if you deep dive into this, US debt is $34 trillion and, you know,
13:03these countries and most of the countries are in debt except, I think, Germany. So, you know,
13:10with so much debt, with the economy being probably showing signs of a recession now,
13:18high interest rates, there's political uncertainty. There are major uncertainties
13:25involving immigrants. There's a war going on between, you know, a very strong war between
13:31immigrants and the local people of America, of Canada, right? So, it looks unstable to me.
13:38It looks like that this could be unstable in future too. However, US election will be a big
13:45deciding factor. Because if Trump comes to power, he can do anything, we all know.
13:53This certainly, Shruti takes me to Keshav for one very quick answer here. Keshavji, we have seen,
14:03you know, Prime Minister Modi meeting both the US presidents at their tenures respectively,
14:10and both, you know, welcomed India, you know, warmly. Now, this time around, the
14:17playground is different. It's not a Madison Square. It's not a, you know, a White House,
14:22where you will have thousands of Indian diaspora lining up and no one can deny for the fact that
14:27they are the potential voters. So, no one wants to actually antagonize them. Here we are surrounded
14:34with different countries with different agenda, more of a level playing ground for all of them.
14:39What important aspects do you think that Prime Minister Modi and Biden, if at all the bilateral
14:44happens, if at all, until now, we haven't seen the pictures, what are the issues do you think
14:50that both the countries need to address? Definitely, I think, I mean, the meeting
14:57does not look likely, because Modi is supposed to fly back today itself. But if at all it happens,
15:05then I think Modi's point would, of course, be, you know, centered at the Asia Pacific,
15:13especially kind of, you know, aggression China has been showing time to time.
15:22Definitely, Prime Minister Modi would attempt to bring the US on India's side.
15:32Besides that, another discussion, which is more likely, I presume would be this Israel
15:40and Hamas thing, because both the sides Israel and Hamas, they are looking up to India,
15:47and particularly Indian Prime Minister Modi. And he has been the one mastered in the art of, you
15:54know, bringing two opposite sides together. It can happen. On top of that, this green card issue,
16:05I think will be discussed heavily because he is delivering a speech on AI. And we have known and
16:14we have seen the part of India in the field of technology, technological progress of India is
16:20undeniable. And the kind of talent we outsource to the US, all these things will be on the
16:28discussion table if it happens by any chance, but it does not look likely.
16:34Absolutely. So it's the soft power also, from the H1B visa side of the green card issues,
16:40and also the strategic part. Thank you so much, Keshav. One final question, Ritesh, and then
16:45we call it a day here. We have seen, Ritesh, in the past, how these countries have responded to
16:54several issues, such as Russia-Ukraine war, for that matter, Israel and Hamas war as well.
17:05In this possible scenario where India could be seen as a piece, what we saw in G20 in Delhi
17:13was remarkable to bring both Russia and Ukraine on the discussion table, not have any animosity,
17:21and also create a charter without pitting Russia and Ukraine against each other. Do you think that
17:28in a bigger scenario, India could be in a real world playing the role of a piece, be as far as
17:36Russia or Ukraine, or as close as in the Middle East?
17:41Yeah, definitely, Pankajji. Issues are there for G7, even it is a Ukraine conflict, Gaza,
17:48Israel-Palestine issue is there, Taiwan invasion is there, South China Sea, the issue that is
17:54persisting for over and over in the last decade. So issues are there, and in all the issues, if we
18:03see, India played a very vital role being neutral. Even in the Russia war also, India bought
18:15crude oil from Russia without hampering relationship with other countries. US was angry
18:22the first time, but India handled, diplomatically handled well. So, in this summit also,
18:29India's presence is there. Everyone will feel that India is there, though we are not part of
18:35G7, but still India has a big role to play in this summit and in the coming years also,
18:41as Modi has a vision, or India as a country has a vision of entering into the Security Council or
18:49G7, big summit members. So, we always see as a country with vision and country offer future
19:00power. Right, absolutely. And so we look at you also, the editors who are joining us from all
19:07the parts of the country. Thank you so much. Shruti, I know you have to rush very quickly to
19:10pick up your son from the football training session. One thing to sum up this show, now we
19:16saw a massive, massive debacle at the Dalal Street on the penultimate day of June 4th when
19:24the results were out. How have the markets behaved so far? Have they recovered? Shall
19:31Keshav and I start counting our blessings once again at the Dalal Street? You know, the kind of
19:38messages and calls I got on June 4th about, you know, why is the market crashing? And this is
19:45not what we expected. And as I hold on to your portfolio, please don't make any rash decisions.
19:52And today, again, market is at record high. So very, very soon, I think Nifty will touch
19:5823,500. Market has regained and probably by end of this year, Nifty will touch 25,000.
20:09So, achche din for markets, including gold markets and gold markets.
20:20Are we on the road of 5 trillion economy? Yes, definitely. I was going to add that,
20:25Pankaj, that, you know, while diplomacy is one of the strongest forte we have,
20:32as an economy, as a country also, we are showing resilience. We are very strong. GDP growth has
20:39been phenomenal, 8.2%. And if you see brokerage firms and credit rating agencies are all very
20:50optimistic about the economy. So while the other developed, so-called developed economies are
20:56flowing, I think India is capable of growing more and India will still be the fastest growing
21:04economy in the world, I think for the next two years, at least. While the RBI will probably
21:10cut rates and once inflation stabilizes. I think for the seventh or eighth time on the trot,
21:18RBI has kept the rates stagnant as of now. Yes. And Shabnikar Das, you know, very
21:24informally said that we are not, we will not necessarily follow the Fed, the Federal Reserve.
21:31Fed numbers are also out or presumably going to be out soon, or they are out already.
21:36No, no, the Fed kept the rates unchanged.
21:39Unchanged. All right. Thank you. Thank you, Shruti. Well, on that bullish note,
21:42let me thank all our viewers and thank all our editors here for joining us. Shruti Sarkar
21:48from Good Returns, Keshav Karan from One India Hindi and Ritesh Ghosh from One India Bangla.
21:55Thank you so much for joining us. We'll see you next week with the topics that
21:59dominated the week in our special show, Editors Roundtable on One India. Thanks for watching.