President takes prompt cognizance

Mumbai: President Droupadi Murmu has taken immediate cognizance of a plea pointing at grave insults to the Indian Tricolour (Tiranga) in pubs and hotels, violations to the Flag Code of India, 2002, in the name of celebrating Republic Day and Independence Day. Pune businessman-cum-activist Prafful Sarda had shot off a complaint to the President on Jan. 26 but was surprised to receive a response from her office in less than 72 hours. Under Secretary Lakshmi Maharabooshanam in the President’s...

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Mumbai: President Droupadi Murmu has taken immediate cognizance of a plea pointing at grave insults to the Indian Tricolour (Tiranga) in pubs and hotels, violations to the Flag Code of India, 2002, in the name of celebrating Republic Day and Independence Day. Pune businessman-cum-activist Prafful Sarda had shot off a complaint to the President on Jan. 26 but was surprised to receive a response from her office in less than 72 hours. Under Secretary Lakshmi Maharabooshanam in the President’s Secretariat at Rashtrapati Bhavan, replied to Sarda on forwarding his complaint to the Ministry of Home Affairs for necessary action. It further stated that action taken in the matter must be conveyed directly to Sarda. “It’s a pleasant surprise indeed that the President has taken serious note of the issue of insults to the National Flag at night-clubs, pubs, lounges, sports bars and other places all over the country. The blatant mishandling of the National Flag also violates the specially laid-down provisions of the Flag Code of India,” said Sarda. He pointed out that the Tricolor is a sacred symbol and not a ‘commercial prop’ for entertainment purposes to be used by artists without disregard for the rules. “There are multiple videos, reels or photos available on social media… It's painful to view how the National Flag is being grossly misused, disrespected and even displayed at late nights or early morning hours, flouting the rules,” Sarda said. The more worrisome aspect is that such transgressions are occurring openly, repeatedly and apparently without any apprehensions for the potential consequences. This indicates serious lapses in the enforcement and supervision, but such unchecked abuse could portend dangerous signals that national symbols can be ‘trivialized and traded for profits’. He urged the President to direct the issue of stringent written guidelines with circular to all such private or commercial outlets on mandatory compliance with the Flag Code of India, conduct special awareness drives, surprise checks on such venues and regular inspections to curb the misuse of the Tricolour. Flag Code of India, 2002 Perturbed over the “perceptible lack of awareness” not only among the masses but also governmental agencies with regard to the laws, practices and conventions for displaying the National Flag as per the Emblems and Names (Prevention of Improper Use) Act, 1950 and the Prevention of Insults to National Honour Act, 1971, the centre had brought out the detailed 25-page Flag Code of India, 2002. The Flag Code of India has minute guidelines on the display of the Tricolour, the happy occasions when it flies high, or the sad times when it is at half-mast, the privileged dignitaries who are entitled to display it on their vehicles, etc. Certain violations attract hefty fines and/or imprisonment till three years.

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.”