Hindenburg, the US-based predatory short-seller whose research caused a sharp decline in share prices in Indian markets in January 2023, and which fuelled Rahul Gandhi's Modi-Adani propaganda, shut down on January 15. Its founder, Nathan Anderson, informed the media that the firm had “finished the pipeline of ideas” it was working on.
Why Many Are Panicking
The closure of Hindenburg is seen in the context of political developments in the US. With the inauguration of President Donald Trump on January 20 approaching, panic has gripped institutions that Trump is wary of. Hindenburg had been financed by George Soros and was part of his broader influence. Trump is openly hostile to Soros, the Hungarian-born multimillionaire who funds NGOs in over 120 countries and is linked to efforts to overthrow elected governments. The Bangladesh “abhyutthan” (uprising) of August 2024 is believed to have been instigated by individuals like Soros, according to some within the US deep state. Sixteen days before leaving office, President Joe Biden awarded Soros America's highest civilian honour, the Presidential Medal of Freedom, which Trump ally Elon Musk called a “travesty".
As Hindenburg's “pipeline of ideas” ran dry, Rahul Gandhi, along with his trusted spokesman Jairam Ramesh, saw a hole in their Modi-Adani narrative. In response, Gandhi declared that the Congress was “not only fighting the BJP [Bharatiya Janata Party] and the RSS [Rashtriya Swayamsevak Sangh], but also fighting the Indian State.” These words were spoken during the inauguration of the new Congress Headquarters, Indira Bhawan, on January 15—just hours before the official announcement of Hindenburg's closure in the US.
Union Minister Hardeep Puri quickly retorted that Rahul Gandhi's declaration of war on the Indian State echoed George Soros's “toolkit”. BJP President J.P. Nadda called it a statement from an “urban Naxal". Senior journalist Pankaj Sharma, speaking on behalf of the Congress during a chat show, attempted to clarify that Gandhi was not targeting the Union of India but rather opposing the current ruling dispensation. However, his explanation sounded tenuous.
What Really Is A State?
The Western concept of the state dates back to the Greco-Roman era. The word 'state' is derived from the Latin 'status', meaning the condition of a country. In ancient India, the state was known as a 'Janapada'. A state is an organised political community under the control of a single government, characterised by sovereignty, defined territorial boundaries, and governance.
Given this, Rahul Gandhi's statement that his party is “also fighting the Indian State” raises an important question: is he suggesting that India could face events similar to the 2022 Sri Lankan crisis or the 2024 Bangladesh uprising? Gandhi and his party frequently questioned the electoral process and criticised the Election Commission of India—yet both charges were dismissed by the Supreme Court, which rejected petitions from the opposition.
Similar Comments
A YouTube clip shown on TV channels in mid-December highlighted the striking similarity between the statements of George Soros and Rahul Gandhi regarding India. In this clip, Soros states that in the coming months, he foresees a "significant weakening of Modi's stranglehold on India's federal government, which will open doors for institutional reform". The same clip shows Rahul Gandhi echoing Soros's words at a party meeting, saying, “…yeh jo Narendra Modi bhashan de raha hai, main aapsey kahna chahta hoon, chhey-saat mahiney baad yeh apne ghar se nahin nikal paayega. Hindustan ke yuva isko aisa danda marenge” (Modi is giving speeches... in six-seven months, he will be unable to leave his home... the youth of India will hammer him).
This kind of political discourse has reached its nadir. It suggests violence as a tool for political debate. Rahul Gandhi's frustration at seeing Narendra Modi poised for a third term, despite the worldwide anti-incumbency wave of 2024, is evident in statements that clearly do not align with the legacy of Mahatma Gandhi's party. It reflects a departure from the democratic ideals set by Jawaharlal Nehru.
Can Congress Stage A Comeback?
While the Congress enters the 140th year of its political journey, despite sitting in the opposition for a third consecutive term, the party can take solace in the fact that the BJP's call for a ‘Congress-mukt Bharat' (India sans Congress) has failed. The Congress continues to hold the position of Leader of Opposition in both houses of Parliament and remains the only nationwide challenger to the BJP.
Out of the 543 seats in the current Lok Sabha, 286 are seeing a direct contest between the two national parties. In 2024, the Congress regained ground, winning 83 out of its 99 seats against the BJP. The BJP's tally of 240 included 180 wins over Congress.
If the Congress strengthens its organisational base and the BJP's fortunes take a hit, there is a possibility for the Congress to stage a comeback, much like the Labour Party in the UK. Political fortunes are inherently volatile. Democratic politics must recognise that Winston Churchill, despite leading the Allied Powers to victory and defeating the Nazis, lost the post-war elections in the UK.
After becoming Prime Minister in May 1991, P.V. Narasimha Rao invited national editors for tea. This writer had the privilege of attending that tête-à-tête at the Prime Minister's House. Rao, leading a coalition government, was asked how he felt about assuming office. He replied, “I feel like a batsman who's on 99,” perhaps implying that his sense of fulfilment was still to come. A score of 99, thus, is not a dismal one. Rahul Gandhi, who scored 27%—well behind Modi's 47%—in a popularity poll conducted by CSDS-Lokniti prior to the 2024 elections, should not despair if he follows the rules and refrains from merely displaying a red copy of the Constitution of India.
(Shubhabrata Bhattacharya is a retired editor and a public affairs commentator)
Disclaimer: These are the personal opinions of the author
