Ideology, Illusion, and the Politics of Power

Leader of Opposition in the Lok Sabha Rahul Gandhi greets supporters during a roadshow ahead of the Kerala assembly polls, in Kozhikode district on Tuesday. | Pic: PTI New Delhi: At a critical electoral juncture in Kerala, the political contest being waged in the name of ideology appears less about public welfare and more like a renewed struggle for the division of power. Kerala's electoral battle exposes contradictions between ideology and alliances, as BJP, Congress, and Left trade...

min read

Ideology, Illusion, and the Politics of Power

Leader of Opposition in the Lok Sabha Rahul Gandhi greets supporters during a roadshow ahead of the Kerala assembly polls, in Kozhikode district on Tuesday. | Pic: PTI New Delhi: At a critical electoral juncture in Kerala, the political contest being waged in the name of ideology appears less about public welfare and more like a renewed struggle for the division of power. Kerala's electoral battle exposes contradictions between ideology and alliances, as BJP, Congress, and Left trade accusations while prioritizing power, leaving voters questioning credibility, governance plans, and commitment to justice. At the national level, the Congress and the Left position themselves as opponents of the Bharatiya Janata Party and Prime Minister Narendra Modi. Yet before the public, they often appear equally eager to undercut one another. In Parliament, they join hands to bring no-confidence motions and accuse the government of misusing investigative agencies. However, at the state level, this coordination is conspicuously absent. In Kerala, Congress leader Rahul Gandhi has alleged a nexus between the CPI(M) and the SDPI, even hinting at tacit understandings between the BJP and the Left. Meanwhile, LDF Chief Minister Pinarayi Vijayan has dismissed these claims as "entirely baseless." This persistent friction reinforces the impression that ideology has become largely symbolic, while the real contest revolves around consolidating vote banks and securing seats. The Left, invoking the language of "pragmatic alliances," signals readiness to align with the Congress at the national level. Yet in Kerala, it faces accusations of straying from its foundational principles, even as it projects itself as the principal alternative to the BJP. Conspiracy factor Congress leader Rahul Gandhi has repeatedly asserted in his campaign rallies that this election is a contest between two ideologies-the Left and the UDF. Yet, he claims, for the first time there is an "unprecedented partnership" emerging between the Left and the BJP. He alleges that the CPI(M) can be easily controlled by the BJP, whereas the Congress-led UDF would not play into its hands. Such assertions risk creating the impression that ideological confrontation has now given way to a politics of expedient compromises. On the other hand, CM Pinarayi Vijayan firmly maintains that his party neither seeks support from the SDPI nor engages in any covert understanding with communal forces. He portrays the Left Democratic Front as a formation grounded in "clear ideological principles" and resolutely opposed to communal politics. The contradiction here is striking that just as the BJP accuses the Congress and the Left of collusion, the Congress and the Left, in turn, level similar charges of "compromise" against each other. Confused Electorate In Kerala's electoral theatre, PM Modi has branded both the UDF and the LDF as "each other's B team," while projecting the BJP as the only genuine "A team." His argument rests on the claim that the state has, for decades, been trapped between two traditional power blocs, one corrupt and the other allegedly even more so. He contends that both alliances have deceived the public through vote-bank politics, whereas the BJP now promises to "expose" their corruption and deliver "justice." The larger question remains, when the Left and the Congress join hands in Parliament to oppose the BJP, is their unity rooted in a principled stand against the ruling party BJP/NDA, or is it merely political theatre calibrated for electoral convenience? If both claim to be ideologically committed formations, what justifies their readiness to confront each other in the states and often aggressively over vote banks? Real Issues At the national level, the Left often raises its voice on substantive constitutional and economic questions; corruption, public debt, privatization, and decentralization. Yet, in the heat of elections, these very debates are reduced to the arithmetic of vote banks and seat shares. The BJP, as the ruling party, seeks to anchor its campaign in development metrics, flagship projects like the Vizhinjam Port, and symbolic initiatives such as the Nari Shakti Vandan Act, presenting them as tangible achievements before the electorate. The opposition, in turn, attempts to recast these same initiatives as narratives of "debt" and "plunder."

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.”