‘FAWNING’ MEDIA GOT POLL PREDICTIONS WRONG & WHAT A MODI VISIT TO KREMLIN MEANS FOR GEOPOLITICS
New Delhi: Prime Minister Narendra Modi’s slim election victory reflects “how fawning coverage may have obscured a wave of opposition”, points out journalist Samir Yasir in a The New York Times report, ‘India’s cable news predicted a big Modi win. How did they get it so wrong?’.
Despite the mainstream media’s predictions of a landslide victory for PM Modi’s party, the BJP fell short of a majority, winning only 240 seats. The results highlight how PM Modi “cowed” the mainstream media and “ how his control of the information system had grown so complete that the hype obscured voters’ true sentiments”, Samir Yasir writes. Criticising the mainstream media, a veteran election analyst, Yogendra Yadav, tells NYT that mainstream media was almost campaigning for the ruling party — “They are a blot on our democracy”.
Due to this phenomenon, there is a growing shift towards independent online journalism, with voices such as Ravish Kumar and others on YouTube offering critical perspectives absent from mainstream coverage, the report notes.
A Financial Times report, ‘India’s passion for gold fades as prices hover near record high’, dives into the impacts of soaring gold prices, driven by conflicts in the Middle East and Ukraine and the claims of China that it has eclipsed India as the world’s biggest gold importer.
The report by FT journalist Chris Kay highlights that due to the high prices, some women have switched to wearing artificial jewellery at their weddings, though the “richest consumers” continue to buy gold. Speaking with FT, a gold business owner in downtown Bengaluru reports declining sales — there has been a halving of daily customers willing to buy gold, reduced to a quarter nowadays. “A person who could afford to buy around 100 or 200 grams has just shifted to 50 to 60 grams,” Ameen tells Kay.
India’s enduring affinity for gold symbolised prosperity and is linked to Hindu traditions, but it is taking a hit, with prices up 24% from the past year. Despite cultural significance, demand for gold jewellery in India fell 6% last year. Analysts anticipate sales will stagnate by March 2025.
In ‘Modi to visit Moscow next week as Kremlin says all issues on the agenda‘, CNN reports on Modi’s first trip to Russia since the Ukraine conflict began, scheduled for 8 and 9 July.
Despite close ties with the US, India continues to rely on Russian military equipment and discounted crude oil. Modi’s visit underscores India’s robust, long-standing relationship with Russia, dating back to the Cold War era, despite Western sanctions against Moscow, the report by CNN journalist Rhea Mogul highlights. The visit, she writes, is seen as a diplomatic move to counter Western efforts to isolate Russia.
Analysts note PM Modi’s absence from the Shanghai Cooperation Organization as a sign of India’s cautious stance amid closer Russia-China ties. However, Kremlin officials have described Modi’s relationship with Putin as “very trusting”, Mogul writes. Modi, she adds, aims to discuss global and regional issues of mutual interest with Putin, who has been facing isolation globally, reinforcing India-Russia strategic ties amid shifting geopolitical dynamics.
Bloomberg’s report, ‘India’s LNG imports set to slump as monsoon hits power demand’, delves into how the country’s surge in liquefied natural gas (LNG) imports will ease as a cooler monsoon brings down the electricity demand and fuels a rise in hydropower generation.
In June, India purchased 2.6 million tons of LNG, the highest since October 2020, driven by affordable spot prices and increased utilisation of gas-based power plants. These plants were pushed into operation under emergency orders to meet heightened electricity demand, resulting in a 63 percent rise in their output from April to June. Ayush Agarwal, LNG analyst at S&P Global Commodity Insights tells CNN, “Electricity demand won’t be as high as it was in May and June, which is the prime driver of higher LNG imports.” With the emergency measures expiring on 30 June, Agarwal anticipates a decline in LNG imports for the remainder of the year. A 10 percent increase in hydropower output due to monsoon rains and melting snow will further diminish its need, the report says.
Starmer is new UK PM & US says Hamas ceasefire a breakthrough
UK’s Labour Party has won the election with a landslide victory, sweeping the Conservative Party out of power after 14 years, with anti-incumbency heralding a new era in British politics. The outgoing prime minister, Rishi Sunak, conceded his party’s national defeat in the early morning hours, shortly before the Labour Party’s parliamentary majority was confirmed. To know more, read The New York Times report.
The White House has described the latest Hamas ceasefire proposal for Gaza as a “breakthrough”, establishing a framework for a possible hostage deal. For more information, read The Guardian’s latest report.
Also read: ‘Tactical thaw’ likely in India-China ties & how spiritual event turned into deadly Hathras stampede
2024-07-05T12:57:39Z dg43tfdfdgfd
