Rohit Pawar's SOS to PM, Amit Shah, Rahul Gandhi

Mumbai : Nationalist Congress Party (SP) MLA Rohit R. Pawar alleged that the VSR Ventures Pvt. Ltd. had high political and business connections, some linked with state governments or aligned with the ruling party at the centre who were attempting to divert the probe into the Jan. 28 Baramati air-crash ostensibly to protect the company. In another hard-hitting media-presentation, Rohit Pawar spoke of a “high-level political and commercial conspiracy” behind the air tragedy that killed five...

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Rohit Pawar's SOS to PM, Amit Shah, Rahul Gandhi

Mumbai : Nationalist Congress Party (SP) MLA Rohit R. Pawar alleged that the VSR Ventures Pvt. Ltd. had high political and business connections, some linked with state governments or aligned with the ruling party at the centre who were attempting to divert the probe into the Jan. 28 Baramati air-crash ostensibly to protect the company. In another hard-hitting media-presentation, Rohit Pawar spoke of a “high-level political and commercial conspiracy” behind the air tragedy that killed five persons, including his uncle, Nationalist Congress Party (NCP) President and Maharashtra Deputy Chief Minister Ajit A. Pawar last month. The Karjat-Jamkhed lawmaker claimed that conducting deep study after his earlier presentation in Mumbai, his team found “the threats of VSRVPL led to very influential people”. “Moreover, the company is backed by some big leaders in power and prominent industrialists, among its lenders are persons with direct connections to the Telugu Desam Party and others,” alleged Rohit Pawar. Pointing fingers at the Directorate General of Civil Aviation (DGCA), he said that many of its former officials could also be involved and such a scale of hold by the VSRVPL suggested the possibility of “an international-level of political or commercial plot”. “The people involved seem to be extremely big… Only Prime Minister Narendra Modi and Home Minister Amit Shah can take personal charge to ensure justice for Ajit Pawar. I plan to meet and submit a letter to them on this,” said Rohit Pawar. Simultaneously, he urged Leader of Opposition in Lok Sabha Rahul Gandhi to intervene in the matter, plus support the demand for the resignation of Minister of Civil Aviation K. Rammohan Naidu, at least till the probe is completed, asking why the Minister allegedly cleared the operator of any culpability soon after the disaster. Rohit Pawar reiterated his suspicions on other irregularities surrounding the crash of the Bombardier Learjet 45, registered as VT-SSK, on the Black Box which was retrieved earlier this week. “When the DGCA rules mandate a two-hour recording capability, why did this aircraft’s Cockpit Voice Recorder have a capacity of only 30 minutes recording? If the aircraft was worth some Rs 35 cr. how come it was insured for Rs 210 cr. and the pilot was covered for Rs 50 cr.,” demanded Rohit Pawar. He raised the possibility of the pilot suffering from mental and financial stress as he had been jobless for four years after leaving the defunct Jet Airways where he earned around Rs 10-12 lakhs per month, but at VSRVPL, his pay was barely 25-30 percent. Rohit Pawar asked whether the concerned flight safety manager had been probed or booked as the Learjet 45 was being operated ‘illegally’ without a proper license and it was earlier banned in Europe. Rohit Pawar roasts political trolls Taking strong umbrage to the social media trolling of his exposes on the Baramati air-crash, NCP (SP) MLA Rohit Pawar pointedly alleged: “Though we know they represent the BJP, who is paying them?” - during his New Delhi presentation, vowing not to rest till justice is done. “If the BJP trolls oppose our demand for a thorough probe, is the party involved in it? We seek information through RTI and get nothing, but the trolls seem to get it from the authorities. Is it an attempt to scare us,” he wondered.

India bears the brunt: Nifty crashes 1,100, Sensex nosedives 3,900 points after US trade shock

Correspondent
Apr 7, 2025
2 min read

India woke up to a financial jolt this morning as its equity markets suffered their steepest fall in nearly a year, shaken by the ripple effects of US President Donald Trump’s aggressive new tariff regime. The Sensex plunged over 3,900 points at opening bell, while the Nifty tumbled more than 1,100 points, dragging Indian stocks to a 10-month low.

This sharp decline follows a global equity rout triggered by Trump's protectionist measures, which have sent panic waves across Asia and raised the spectre of a global recession. Investors dumped shares in a massive sell-off, with Indian benchmarks reacting sharply in early trade. The Sensex dropped to 71,425.01 — down 3,939.68 points — while Nifty slipped to 21,743.65, marking a 3.5% slide from the last session.

Adding to the pressure, the Indian rupee depreciated 30 paise to open at 85.74 against the US dollar.

India Among the Hardest Hit

Trump’s latest tariff hike — framed as a push to restore fairness to global trade — has imposed country-specific duties that go as high as 50%. India has been slapped with a 26% tariff, while a 10% baseline duty applies to all nations. This has set alarm bells ringing among Indian exporters and traders already struggling with global demand volatility.

President Trump, unfazed by the financial carnage, likened the move to a bitter but necessary cure. “Sometimes you need the medicine to fix something,” he told reporters earlier today.

Analysts Urge Economic Safeguards

Market experts believe that India's current market turmoil isn't rooted in domestic issues but is rather a consequence of being tightly woven into global investment flows.

“India will face the heat, not due to domestic reasons, but as an interlinked chain in the global portfolio flows,” said Ajay Bagga, a noted market expert. “India will need a fiscal, monetary, and reform package to protect the domestic economy from this global economic winter that is threatening to settle in.”

Sunil Gurjar, SEBI-registered research analyst, warned that the Nifty50 index has breached its first support level and is approaching the next. "A further breakdown could worsen the trend and accelerate the fall," he cautioned.

Asian Markets Bleed

The tremors from Trump's announcement were first felt in Asia, with key markets suffering steep losses. China's stock markets fell over 4% amid retaliatory tariffs of 34% against the US. Hong Kong's Hang Seng nosedived more than 10%, while Japan’s Nikkei index fell 6.5% after plunging 8% earlier in the day. Taiwan saw a near-10% collapse, and Singapore dropped over 8%.

Wall Street Braces for Impact

US markets, though yet to open, appear set for a rough start. Futures contracts on the New York Stock Exchange are sharply down, suggesting heavy losses once trading resumes.

Market sentiment globally has turned bearish, with fears of a looming recession taking hold. Stephen Innes of SPI Asset Management described the scene as “free-fall mode,” noting, “Trump’s team isn’t blinking. The tariffs are being treated as a victory lap, not a bargaining chip.”