News Brief
Morning Brief: Trump Praises Modi In Call After Election Win; RBI Governor Warns Of Rising Inflation; Adani To Resume Power Supply To Bangladesh Under New Terms
Your morning briefing is here.
Dear reader, make sense of the day’s news with Swarajya's roundup of what’s making headlines this morning.
Trump Praises Modi In Call After Election Win
Prime Minister Narendra Modi called US President-elect Donald Trump on Wednesday to congratulate him on his decisive victory in the US presidential election. During their conversation, Trump praised Modi as a "magnificent man" and expressed that the whole world admired him, adding that India was a "magnificent country" and he considered both Modi and India as true friends.
The two leaders reaffirmed their commitment to working together for world peace. Trump, who said Modi was one of the first world leaders he spoke to after his victory, expressed his admiration for the Indian Prime Minister. In a tweet, Modi described their conversation as "great" and expressed eagerness to continue strengthening India-US ties in sectors like defense and technology.
RBI Governor Warns Of Rising Inflation
RBI Governor Shaktikanta Das stated on Wednesday that domestic economic activity remains strong, but warned that October inflation could surpass September’s 5.5 per cent, potentially affecting expectations for any interest rate changes in the December monetary policy review. He noted that India’s business relations with the US will continue to grow under the incoming administration.
Speaking ahead of the US election results, Das remarked that while the election could go either way, the strengthening of India-US relations is clear and will persist. He added that the RBI expects the September and October Consumer Price Index (CPI) numbers to be higher, with October inflation potentially exceeding September’s figures. Das highlighted the "significant upside risks to inflation" in his statement.
Adani To Resume Power Supply To Bangladesh Under New Terms
After intense negotiations, the Adani group has lifted a crucial power supply deadline imposed on Bangladesh following the country’s agreement to new repayment terms for dues worth approximately Rs 7,500 crore. The Indian conglomerate had initially set a 7 November deadline for the Bangladesh government to clear the dues or face a power cut affecting up to 10 per cent of the country’s electricity consumers.
Adani Power Ltd began supplying electricity to Bangladesh from its 1,600 MW Godda Thermal Power Station last year, marking India’s first transnational power supply project.
While Bangladesh’s monthly electricity bill for Adani’s supply was around $90-95 million, the country had been paying only $20-40 million due to its ongoing economic and political crisis. After mounting dues and the expiration of a letter of credit in July, Adani reduced its power supply by half in October. However, after discussions, Bangladesh agreed to provide a fresh letter of credit worth $170-180 million with immediate validity.
Other Developments
Biden Calls Choosing Harris His "Best Decision"
Following Vice President Kamala Harris's concession speech at Howard University on Wednesday, where she acknowledged her loss to President-elect Donald Trump, President Joe Biden issued a statement commending her efforts in the 2024 presidential race. Biden described his selection of Harris as his running mate as "the best decision" he made during his campaign.
In his statement, Biden lauded Harris for leading a "historic campaign" under "extraordinary circumstances" and said her work embodied "what’s possible" when driven by a "strong moral compass and a clear vision" for a more free and just America. He also recalled that choosing Harris had been his first decision after securing the Democratic nomination in 2020.
GOP Eyes Full Sweep Of Congress With Trump In White House
Republicans have gained control of the US Senate and are working to maintain their majority in the US House, potentially giving them full dominance in Congress alongside the presidency. A unified Republican Congress would solidify Trump's agenda, while a Democratic House takeover would offer a check on the White House with veto power.
Trump, speaking early Wednesday at his election night party in Florida, called the results an “unprecedented and powerful mandate” for Republicans. He praised the Senate victory as “incredible” and commended House Speaker Mike Johnson for his efforts. Senate GOP Leader Mitch McConnell, though a private critic of Trump, called it “a hell of a good day.”
Lokayukta Questions Siddaramaiah in MUDA Case
A three-member Lokayukta team questioned Karnataka Chief Minister Siddaramaiah for two hours on Wednesday in the Mysore Urban Development Authority (MUDA) land allotment case. He became the second politician, after BJP’s B S Yediyurappa, to be questioned by the agency while in office.
Siddaramaiah’s wife, Parvathi, was previously questioned and returned 14 prime plots in Mysuru linked to a controversial land-swap deal. The CM denied any wrongdoing, calling the allegations false and claiming no documents were requested from him. The Lokayukta team recorded the session. However, the BJP has dismissed the investigation as "scripted" and alleged that the Lokayukta was involved in "match-fixing" to help the CM.
Maharashtra: Rebels Could Ruin The Party For Mahayuti, MVA
Around 50 rebel candidates from both the ruling Mahayuti and the Opposition Maha Vikas Aghadi (MVA) are contesting the November 20 Maharashtra Assembly elections, despite efforts by both coalitions to persuade them to withdraw their nominations.
The Mahayuti, consisting of the BJP, Eknath Shinde-led Shiv Sena, and Ajit Pawar-led NCP, has 26 rebels, while the MVA, which includes Congress, Uddhav Thackeray-headed Shiv Sena (UBT), and Sharad Pawar-led NCP(SP), has 18 rebels.
In the ruling alliance, 13 BJP rebels are contesting against the Shinde Sena and NCP, while 12 rebels from Shinde Sena are challenging the other two partners, and one rebel is from the NCP. On the Opposition side, five Congress rebels are facing off against the Sena (UBT) and NCP(SP), two rebels from Uddhav Sena are contesting against NCP(SP), and one NCP(SP) rebel is opposing the Sena (UBT).
Himachal: Congress Dissolves Troubled State Unit
The Congress has dissolved its troubled Himachal state unit, including the Pradesh Congress Committee, following the party's poor performance in the 2024 Lok Sabha elections. General Secretary KC Venugopal confirmed the decision on Wednesday.
Pratibha Singh, widow of former Chief Minister Virbhadra Singh, had headed the state unit since 2022 and was once considered a contender for the chief minister's post. However, internal infighting and the Congress’ failure to secure any Lok Sabha seats in the state led to this drastic move. This is the second time in recent years that Congress has dissolved its Himachal unit, with a similar step taken in 2019.
Must Read Reports From Swarajya
The Bangladesh army and police have launched a brutal crackdown on Hindus in Chittagong since Tuesday (November 5) evening.
Army soldiers carrying lethal weapons, along with soldiers from the paramilitary Border Guards Bangladesh (BGB) and local policemen, have been raiding Hindu-dominated areas of Chattogram like Hazarigolli and neighbouring localities.
The emphatic re-election of Donald Trump as America’s next president elicited a spate of extremely emotional responses in different corners.
For mainstream media, it was a moment to recommence redistribution of an alarmist narrative; for the Democrats, it marks a return to the drawing board since their hoary identity politics failed to fire; and going by the gleeful tenor of ‘right-wing’ Indian social media handles, it seemed like an Indian was headed for the White House.
Stay tuned for more insights throughout the day.
