Tuesday September 25, 2018
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Is Donald Trump’s presidency turning out to be a reward for Trump Jr.?

Trump Jr. is scheduled to give a speech on Indo-Pacific relations at a New Delhi business summit and the Prime Minister Narendra Modi is expected to share the stage with him

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The Donald Trump Jr. landed in India yesterday and is slated to sell his luxury apartments and lavish attention on wealthy Indians.
The Donald Trump Jr. landed in India yesterday and is slated to sell his luxury apartments and lavish attention on wealthy Indians. Wikimedia Commons
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Recently, advertisements can be seen repeatedly in the past few days, announcing the arrival not of the Donald Trump but of his eldest son. The Donald Trump Jr. landed in India yesterday and is slated to sell his luxury apartments and lavish attention on wealthy Indians.  The advertisement further charms the people with “a conversation and dinner” with Trump Jr., if buyers who order apartments in the development by Thursday.

After Trump Jr. landed in India, he was seen posing for photos in New Delhi with Indian developers. One of the builders included Kalpesh Mehta. His firm is supposed to be the main Indian partner for Trump-brand real estate projects.

Also Read: Daughter of Presidential Candidate Donald Trump to celebrate Diwali in a Hindu Temple in the US

Although, during his election campaigns, President Donald Trump has pledged to avoid any new foreign business deals during his term in office. One of the better reasons for this was seen as to avoid potential ethical conflicts. But the visit by his Donald Trump’s son has directed the promises made by his father in some other direction. Moreover, Trump Jr. is flying around the world trying to trade on the fact that his father is sitting in the Oval Office. The global experts have long seen the use of the Trump name to promote even existing business ventures as a tricky territory.

Trump family has real estate projects coming up in Mumbai, the New Delhi suburb of Gurgaon and the eastern city of Kolkata.
Trump family has real estate projects coming up in Mumbai, the New Delhi suburb of Gurgaon and the eastern city of Kolkata. Wikimedia Commons

The shocker over here is the scheduled speech of Trump Jr. about Indo-Pacific relations at a New Delhi business summit and the Prime Minister Narendra Modi is expected to share the stage with him. This has raised another set of ethics concerns by offering his thoughts on international relations, that too when Trump Jr. is not holding any portfolio in the US government. By sharing the stage with government officials and talking about international relations, he is surely portraying himself as an informal ambassador for the US.

Last November, Donald Trump’s daughter Ivanka Trump visited India with an altogether different agenda than that of Trump Jr. She led the U.S. contingent at a global business conference and even her speech was broadcasted live by various television stations.

Also Read: US President Donald Trump’s Tough Stand Against Pakistan and more Highlights from his Speech

Interestingly, it is not the first instance when President Trump’s sons have raised ethical concerns over their promotional visits. Last year only, Donald Trump’s sons inaugurated a Trump-branded golf club in Dubai. The two brothers are now official in-charge to lead the Trump Organization.

Trump Jr. has planned his sprawling building in the satellite city of India, Gurgaon. The people who are ready to invest huge sum into this can expect to move into their swanky homes sometime in 2023. To run his business in India, Trump Jr. has licensing agreements with all its Indian business partners. India holds out to be the brand’s largest market outside the United States. In Pune, a luxury complex is already operational. The expected price of apartments in the Trump Towers complex in Gurgaon runs between $775,000 and $1.5 million.

President Donald Trump has pledged to avoid any new foreign business deals during his term in office.
President Donald Trump has pledged to avoid any new foreign business deals during his term in office. Wikimedia Commons

Trump family has real estate projects coming up in Mumbai, the New Delhi suburb of Gurgaon and the eastern city of Kolkata.

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Fall Of The Currency And Increase In Oil Prices: India ‘s Turmoil

The falling rupee has given a boost to some of India’s most lucrative exports, such as software services and pharmaceuticals, which add up to billions of dollars.

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Rajesh Kumar, left, shares a ride to work with another employee, Dilip Swain, right, as higher petrol prices in India begin to be felt in people's pocketbooks.VOA

The fall of the currency of India to record lows and rising global oil prices have raised worries that the world’s fastest growing economy faces headwinds that could hurt the fortunes of Prime Minister Narendra Modi’s party in next year’s general elections.

From people filling fuel at gas stations to thousands of students heading out to study overseas, the impact of the slumping rupee is sparking discontent.

Having plunged by about 12 percent against the dollar this year, the rupee is one of Asia’s worst faring currencies, and as in other countries, the slide has accelerated since the crash of the Turkish lira.

“The reasons are global. We must bear in mind that in last few months, dollar has strengthened against almost every currency,” said Finance Minister Arun Jaitley recently as he tried to send out reassuring signals that India’s economy is on track.

India
The rupee has plunged by about 12 percent this year raising fears of spiraling inflation. VOA

The rupee’s sharp depreciation comes at a time when the economy had recovered from a slowdown and surged to a two-year high in the quarter that ended in June. Forecasts put growth for this year at 7.5 percent.

Economy will slow

But economists warn this momentum will be difficult to sustain as the tumbling rupee, along with rising crude oil prices, takes a toll on growth. India, the world’s third largest oil importer, gets almost 80 percent of its fuel needs overseas.

“The government needs to mellow down on growth aspirations,” said N.R. Bhanumurthy, economist with the National Institute of Public Finance and Policy. “The growth needs to come down to a little less than 7 percent.”

Even as the government faces the prospect of a slowing economy, it is under pressure to lower taxes on gas and diesel to bring down the sharp rise in prices. Fuel is one of the most heavily taxed items in India, with rates as high as nearly 50 percent. Prices vary from state to state, but they have gone up by about 14 percent this year.

Hoping to cash in on the growing disaffection over the surge in fuel prices and the sliding rupee, opposition parties led nationwide protests that shutdown offices and schools in several cities this week.

India
Discontent with spiraling fuel prices poses a challenge to Prime Minister Modi’s Bharatiya Janata Party ahead of general elections next year. VOA

The government dismissed the protests, saying that although people faced momentary difficulties, they understood they were because of factors beyond its control.

Political analysts are not so sure, pointing out that fuel prices are a politically sensitive issue in India and usually result in a spike in inflation.

“Anger is rising, there is resentment,” said Satish Misra at the Observer Research Foundation, warning the ruling party will face a backlash “Obviously that is going to have a negative impact on the electoral fortunes of the Bharatiya Janata Party, there is no doubt about that.”

Warnings from economists

Among those who are upset with the high fuel prices is Rajesh Kumar, who commutes 30 kilometers to the advertising agency where he works. Hit by the higher prices that eat into his income, he has started sharing the ride with another employee.

India
Narendra Modi. Wikimedia Commons

“I have given up the idea of buying another car,” he said despondently. “I will not be able to afford the cost of running it.”

Economists however have warned the government against giving in to populist pressures ahead of a series of state polls later this year and general elections around April next year. They say lowering taxes on fuel or taking measures to prop up the currency will strain the country’s finances and hurt the economy in the long run.

Also Read: Diverse Gathering To Be Addressed This World BioFuel Day: PM Narendra Modi

“One needs to be more careful and vigilant,” Bhanumurthy said. “It is easy for India to stay with low growth than experiencing the high deficit.”

But there is also some good news for the Indian economy. The falling rupee has given a boost to some of India’s most lucrative exports, such as software services and pharmaceuticals, which add up to billions of dollars. (VOA)