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8.5 per cent GDP growth needed over several years for India’s transformation: Speakers at Swadesh Conclave 2025

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Retired JNU Economics Professor Arun Kumar on Wednesday said India needs high rates of growth over the next few years at 8.5 per cent to become a developed nation by 2047.

Speaking at Swadesh Conclave 2025’s Transforming Bharat through Commerce, Industry & Technology in New Delhi, Kumar said the income per capita should be $14000, it is around $2700 in India now. “We need high rates of growth at 8.5 per cent to grow demand and jobs and all of this has to be equitable.”

Speaking on the economic structure, he said employment is a big issue. Women also face unemployment. Only 6 per cent people work in organised sector, the rest in unorganised sector, and it is not contributing to demand. This is why the disparity.

If demand from unorganised sector goes up, even organised sector will grow fast. Currently, growth is dependent on 10 per cent of organised sector.

Decades ago, China focused on the rural areas and unorganised sector so that demand can be constant and drive growth. It has invested heavily in R&D and has reaped great growth. We need to do that also. For this, we need a good education, Kumar said.

US President Donald Trump is showing the raw, tough face of capitalism. The West won intellectual property rights through the WTO but the soft face of capitalism is gone. Now, the tough face will face a market crash like they did in the late 1920s.

Transformation through technology is being hastened by AI. It has changed blue-collar jobs in technology such as car factories and will threaten white-collar jobs now, such as journalists, doctors and more.

Physicist & JNU Professor of Econophysics Anirban Chakrabarti said an interdisciplinary approach is needed to combat challenges, including climate change which is causing cloudbursts and droughts at the same time. This will need experts from various sciences to come together.

He said there has been a boom in AI with students taking admission in courses to study it. It is important to understand all aspects of the entire system.

Explaining how AI can help, he said one can record data and use machine learning to see trends. “If we can predict price volatility via ML tools, it will help small farmers to decide what crops to sow. I can tell how market is moving and the volatility the farmers can face, help them make well-informed choices.”

He said many regulatory bodies including RBI, SEBI using AI-ML to predict trends etc so that India can be transformed into a developed nation by 2047.  

OTBL Chairperson (retd) Sushma Rawat thanked the organisers for holding the Conclave in an effort to bridge the gap between people over the transformation technology and AI can bring about.

She said she joined ONGC in 1989 as a geologist, was in ONGC to explore oil reserves and other group companies. Recalling the story of oil in India, she said oil was first in Assam’s Digboi in 1889 when they found sticky substance on elephants’ legs. It was a held belief in the West and among people that oil was only in Assam, India. After Independence, we struck oil off Gujarat in 1959 under the ONGC, she said.

Rawat called upon the dignitaries and attendees at the gathering to have belief in oneself and one’s nation. Recalling the transformation in technology across the ages, she said, “I had a 386 computer in 1990, then Sun Microsystems, now all talk is of AI, IoT, data analytics. The changes have been gradual and not sudden. For instance, the mobile phone is a guru and can answer almost all our queries. It will grow further exponentially.”

She told the youngsters at the event to remain curious and keep on learning.

Differing with Prof Arun Kumar’s AI predictions, Supreme Court Senior Advocate Shri Pradeep Rai said AI will not take away all the core functions of doctors, lawyers and journalists. AI will be of help but cannot investigate, for instance, like journalists can, he said.

Blinkit, Google Pay etc were things which could not be imagined in earlier times, all innovations brought through by technology, said Rai.

The virtual hearings in courts during the pandemic were done because of the availability of technology. It has become commonplace now, making distances a remote thing of the past, Rai noted.

The Senior Advocate said the monopoly of US companies will be a problem. He cited an instance where Google refused to share data with Apple until the court forced them to. Without data, there is no AI, he added.

Kerala State Financial Enterprises Ltd (KSFE) Managing Director SK Sanil said micro-finance institutions are needed for the welfare of the poor. Bangladesh’s Mohammad Yunus and his Grameen Bank have been a success in that country. The innovation which made a great impact won him the Nobel Prize. Micro financing can help the poor and the needy in the drive to transform the country.

In her address, Balaji Foundation Chairperson Smt. Rajshri Rai introduced the Swadesh Conclave, saying it is a platform for collective dialogue. She said this year is the sixth edition of Swadesh Conclave. Swadesh is the platform to talk about national interests. This year’s theme is Transforming India. She quoted Faiz Ahmed Faiz’s Bol, saying everybody is entitled to airing their opinion and welcomed them to the Conclave.

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BJP attacks Rahul Gandhi over traitor remark against PM Modi, Amit Shah

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Rahul-Gandhi

Leader of Opposition Rahul Gandhi triggered a sharp political controversy on Wednesday after calling Prime Minister Narendra Modi, Union Home Minister Amit Shah and the Rashtriya Swayamsevak Sangh “traitors” during an address to Congress workers in Uttar Pradesh’s Rae Bareli.

The remarks drew an immediate backlash from the Bharatiya Janata Party, with several leaders accusing the Congress MP of using “the language of terrorists” and attempting to insult democratic institutions.

According to reports, Rahul Gandhi told party workers that when RSS members speak about PM Modi and Amit Shah, they should respond by saying, “Your Prime Minister is a traitor, your home minister is a traitor, your organisation is a traitor.” He further alleged that the ruling establishment had “worked to sell out India” and attacked the Constitution as well as the ideals of Dr BR Ambedkar and Mahatma Gandhi.

The Congress leader made the remarks while addressing workers in Rae Bareli, his parliamentary constituency in Uttar Pradesh. His comments quickly became the centre of a heated political exchange between the BJP and Congress.

BJP leaders strongly condemned the statement, saying Rahul Gandhi’s comments crossed democratic boundaries. Party leaders claimed his language echoed narratives used by hostile elements against India and accused him of targeting the Indian state for political gains.

The controversy intensified further after Rahul Gandhi also criticised PM Modi over a viral video showing the Prime Minister gifting a packet of “Melody” candy to Italian Prime Minister Giorgia Meloni during his visit to Rome. Gandhi reportedly mocked the gesture amid ongoing political debates over economic and governance issues.

The latest exchange adds to the escalating war of words between the BJP and Congress ahead of key political battles in several states and the broader national political contest. Political tensions between the two parties have intensified in recent weeks over issues ranging from governance and foreign visits to economic concerns and constitutional debates.

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Meta to eliminate 8,000 jobs in major restructuring shift

A major controversy has erupted after Norway’s largest newspaper published a cartoon depicting PM Narendra Modi as a snake charmer, drawing widespread allegations of racism and a colonial mindset.

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In an effort to streamline operations and aggressively fund its pivot toward artificial intelligence, Meta Platforms has announced a fresh round of workforce reductions. The corporate decision will impact approximately 8,000 employees globally, translating to nearly 10 per cent of its total workforce. In addition to the workforce downsizing, the technology giant will also eliminate 6,000 currently open job positions across various teams.

Strategic reallocation toward advanced technology

According to an internal memo sent to staff by Chief People Officer Janelle Gale, the workforce adjustments are scheduled to take effect from May 20. Gale acknowledged that the announcement brings unwelcome news and places teams in an uneasy position, but maintained that the choice represents the best path forward given the company’s current operational demands. The organizational overhaul comes as the parent company of Facebook and Instagram drastically increases its capital expenditure to support high-cost AI infrastructure, models, and specialized technical talent.

The tech major has actively adjusted its spending trajectory, with projections for the current financial year mounting significantly to fund developments such as specialized data centers, high-performance automated software, and compensation packages intended to capture top-tier industry experts. Media reports indicate that the company is looking to build smaller, more agile product development structures that utilize advanced computing tools to achieve output targets traditionally requiring much larger operational divisions.

Corporate focus shifts to lean operations

Chief Executive Mark Zuckerberg has previously emphasized that advanced digital tools are altering internal production cycles, allowing smaller engineering units to deliver applications in shorter timeframes. While leadership maintains that automation is intended to enhance worker output rather than entirely swap out human professionals, the sheer scale of the restructuring has triggered broader anxieties regarding corporate workforce security across the silicon landscape.

For the affected workforce in the United States, the organization has laid out a severance structure offering 16 weeks of base compensation alongside an additional two weeks of pay for every completed year of service. The company will also sustain health coverage for eligible workers and their dependents for a span of 18 months. For professionals impacted in international jurisdictions, severance support is expected to align with regional legal guidelines alongside dedicated immigration and career placement guidance. Finance Chief Susan Li noted that the enterprise continues to evaluate its optimal structural size as new technological implementation rapidly transforms the capacity and daily output expected from single personnel units.

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Mamata Banerjee says BJP will be removed from Centre in coming days

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West Bengal Chief Minister and Trinamool Congress chief Mamata Banerjee on Tuesday launched a sharp attack on the BJP-led central government, saying the party “will be removed from power in Delhi in the coming days” following the Trinamool Congress’s defeat in the 2026 West Bengal Assembly elections.

According to reports, Mamata Banerjee made the remarks during a meeting with TMC MLAs and senior party leaders at her Kalighat residence in Kolkata. She reportedly urged party workers not to lose morale and asked them to continue strengthening the organisation at the grassroots level.

The statement comes days after the BJP secured a historic victory in West Bengal, ending the Trinamool Congress’s long rule in the state. Senior BJP leader Suvendu Adhikari recently took oath as West Bengal’s first BJP chief minister after the party won a clear majority in the Assembly elections.

During the meeting, Mamata Banerjee also reportedly accused the BJP of using pressure politics and “bulldozer culture” against opposition parties. She signalled that the TMC would continue to oppose the BJP aggressively at the national level despite losing power in Bengal.

The political atmosphere in West Bengal has remained tense after the election results. Several TMC leaders have questioned different aspects of the polls, while the BJP has dismissed the allegations and described the result as a mandate for political change in the state.

The BJP’s victory marked a major political shift in Bengal politics. After years of emerging as the principal opposition force, the party finally crossed the majority mark in the 2026 Assembly election and formed the government in the state.

Political observers believe Mamata Banerjee’s latest remarks are aimed at keeping opposition unity alive nationally while the Trinamool Congress focuses on rebuilding its organisation in West Bengal after the electoral defeat.

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