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Indian markets in meltdown as Trump slaps tariffs on global trade, Rs 20 lakh crore wiped off in seconds

Sensex and Nifty nosedived as Trump’s tariffs trigger global panic. Over ₹20 lakh crore wiped out in seconds, exposing India’s financial fragility.

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Stock market

By Mohammad Javed Rasheedi

In one of the most brutal bloodbaths Dalal Street has seen in recent memory, Indian stock markets nosedived within seconds of opening on Monday, erasing over Rs 20 lakh crore in investor wealth. The carnage was triggered by US President Donald Trump’s shockwave tariffs — a move that has set fire to global financial markets and plunged India into a crisis.

The Sensex crashed a staggering 3,939.68 points to 71,425.01 at the opening bell, while the Nifty tanked 1,160.8 points to 21,743.65 — a nosedive of over 3.5% in just minutes. The rupee wasn’t spared either, opening 30 paise lower at 85.74 against the US dollar.

This wasn’t just a bad day. It was a full-scale collapse. A punch to the gut for retail investors and institutional players alike.

Trump’s tariffs ignite global market panic

Trump’s latest tariff bomb — including a shocking 26% slapped on India — has thrown exporters and traders into disarray. Adding fuel to the fire is a 10% baseline duty applied universally. While Trump touted it as a “golden period” for American industries, for the rest of the world, it’s financial arson.

Unapologetic and defiant, Trump told reporters his actions were like medicine to fix a broken system. But what he has really done is set off a chain reaction — and India is feeling the burn.

Asian markets were decimated in early trade. China crashed over 4%, Hong Kong’s Hang Seng plummeted 10% and Japan’s Nikkei tanked more than 6.5%. Taiwan and Singapore? Nearly 10% and 8% wiped off respectively. Wall Street is next, with futures already in a tailspin, pointing to deeper global collapse.

Analysts raise red flags: India not ready

Experts are sounding the alarm. “India is not falling because of domestic weakness, but because we are entangled in global chaos,” said market veteran Ajay Bagga. He warned that only a robust fiscal, monetary, and reform response could protect India from the “economic winter” Trump’s war has unleashed.

SEBI-registered analyst Sunil Gurjar added that the Nifty50 has smashed through crucial support levels — and further breakdowns could take the market into uncharted territory.

Recession fears skyrocket

Global markets are now teetering on the edge of a recession. Stephen Innes of SPI Asset Management didn’t mince words: “The market is in free-fall mode again. Trump’s team isn’t blinking. The tariffs are being treated as a victory lap, not a bargaining chip.” For investors, that’s not strategy — that’s economic suicide.

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BJP to launch 5,000-km Parivartan Yatra across West Bengal ahead of Assembly elections

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The Bharatiya Janata Party (BJP) will begin its large-scale ‘Parivartan Yatra’ in poll-bound West Bengal from Sunday, marking a major political outreach drive ahead of the upcoming Assembly elections.

The party said the campaign is designed to mobilise support across the state and counter what it alleges has been more than a decade of “corrupt, undemocratic, and anti-people governance” under the ruling Trinamool Congress (TMC).

Statewide mobilisation across nine divisions

According to party leaders, the Yatra will be conducted simultaneously in all nine organisational divisions of West Bengal. The outreach programme is expected to cover nearly 5,000 kilometres, passing through 38 organisational districts and more than 230 Assembly constituencies.

The BJP estimates the initiative will generate over one crore direct public touchpoints, focusing heavily on face-to-face interactions and grassroots engagement. As part of the campaign plan, the party has scheduled 63 large rallies and 281 welcome meetings at key entry points of Assembly constituencies.

With the slogan “Paltano Dorkar, Chai BJP Sorkar”, the party has framed the Yatra as both an electoral campaign and a broader political movement aimed at strengthening its organisational presence across the state.

Focus on governance, law and order, and corruption

The party’s messaging during the Yatra will centre on governance, accountability, and systemic reforms. BJP leaders plan to raise concerns related to women’s safety, alleged corruption in the education sector, including teacher recruitment issues, and what they describe as threats to national security.

Party sources indicated that demographic changes, illegal infiltration, and the presence of extremist elements in border districts will also be key themes during the campaign.

In rural areas, the outreach will emphasise agricultural infrastructure, implementation of centrally sponsored schemes, and removal of intermediaries. In urban regions, the narrative will focus on industrial development, youth employment, and improvements in urban transport systems.

Senior leaders to participate

More than 100 senior leaders from the central and state units are expected to be involved in the Yatra. The inaugural phase, scheduled for Sunday and Monday, will feature five launch events on the first day and four on the second.

Senior BJP leaders including Amit Shah, JP Nadda, Rajnath Singh, Dharmendra Pradhan, Shivraj Singh Chouhan, and Nitin Nabin are expected to attend various programmes during the campaign.

After a short break for Holi, the Yatra will resume from March 5 to March 10, with each unit operating for approximately nine hours daily. The campaign is set to culminate in a major public meeting at Kolkata’s Brigade Ground, where Prime Minister Narendra Modi is scheduled to address supporters.

The BJP is positioning the Parivartan Yatra as a significant step in reshaping the political landscape of West Bengal as the state moves closer to the Assembly elections.

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BJP alliances in Assam likely to be sealed by March 10

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Assam Chief Minister Himanta Biswa Sarma has indicated that the alliance between the Bharatiya Janata Party (BJP) and the Asom Gana Parishad (AGP) is expected to be finalised by March 10 ahead of the upcoming Assembly elections.

The AGP, a long-time ally of the BJP in Assam, is also a founding member of the National Democratic Alliance (NDA). Discussions between the partners are progressing, with indications that the formal announcement could come within days.

Sources said there could be “friendly fights” between the BJP and AGP in a few constituencies. Such arrangements may be considered to accommodate local-level aspirations and party workers from both sides.

The BJP is also likely to conclude seat-sharing discussions with the Bodoland People’s Front (BPF) by March 10. In the previous Assembly election, the BPF had aligned with the Indian National Congress (Congress), but it has now returned to the NDA fold.

However, seat-sharing talks between the BJP and its other Bodoland-region partner, the United People’s Party Liberal (UPPL), are reportedly facing hurdles. Earlier, Mr Sarma had stated that the UPPL would not join hands with the Congress.

On the opposition side, the Congress is dealing with its own alliance challenges. Negotiations with Akhil Gogoi-led Raijor Dal are underway, but sources suggested that discussions have not been progressing smoothly.

Congress sources said seat-sharing arrangements with the Assam Jatiya Parishad (AJP) and Left parties are almost finalised. An official announcement is awaited from the party’s high command.

As political negotiations intensify, both the ruling NDA and the opposition camp are working to conclude alliances and seat-sharing deals in the run-up to the state polls.

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Rohit Pawar alleges big personality link in Ajit Pawar plane crash case

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Nationalist Congress Party (SP) MLA Rohit Pawar on Thursday alleged that a “big personality” was connected to the company linked to the plane crash that killed his uncle, Maharashtra Deputy Chief Minister Ajit Pawar, and others in Baramati last month.

Addressing reporters after holding a protest, Rohit Pawar demanded the resignation of Union Civil Aviation Minister K. Rammohan Naidu. He alleged that the minister’s party had financial links to the company involved in the crash and said he should step down from his post.

“The owner of VSR company is close to very powerful leaders. Many people in Maharashtra are connected to this. There is a clear attempt to protect VSR because some ‘big personality’ is involved in this,” Rohit Pawar said.

Demand for wider probe

The fatal aircraft accident occurred in Baramati on January 28. Following the incident, the investigation into the accidental deaths of Ajit Pawar and others was transferred to the Criminal Investigation Department (CID) of the Pune Police, considering the gravity of the case.

Rohit Pawar questioned the progress of the probe and said the public must be informed about the steps taken so far. He pointed out that the Aircraft Accident Investigation Bureau (AAIB) examines technical aspects of an aviation mishap, but not possible criminal angles.

Additional Director General of Police Sunil Ramanand said the CID investigation is exploring multiple aspects, including whether there was any foul play or sabotage behind the accident, whether criminal negligence played a role, and whether there was any larger conspiracy. He added that the AAIB report would be incorporated into the CID’s findings once received.

Family voices concerns

Referring to concerns raised by family members, Rohit Pawar said that Jay Pawar, Ajit Pawar’s son, had expressed doubts on social media regarding the aircraft’s black box. Sunetra Pawar, Ajit Pawar’s wife, has sought a probe by the Central Bureau of Investigation.

Speaking emotionally about his relationship with his uncle, Rohit Pawar said Ajit Pawar had guided him politically and personally. He added that Ajit Pawar had wished to reunite with Sharad Pawar and had recently spoken to him.

The CID continues its investigation, while awaiting the technical report from the AAIB.

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