NEW DELHI: For all the noise over India being the tariff king, the US effective tariff rate for all countries is now estimated at 17%, Fitch Ratings has estimated after the latest reciprocal tariff announcements. The effective rate that Indian goods will pay to enter US before Aug 27 was estimated at 20.8%, including exempted…
MUMBAI/NEW DELHI:: After a knee-jerk reaction to US President Donald Trump’s latest tantrums related to tariffs on Indian exports to the world’s largest economy, late buying helped Dalal Street close slightly higher, indicating low impact of the tariffs’ effects on domestic stocks and investments. After sliding over 700 points, sensex recovered all its lost ground…
NEW DELHI/MUMBAI: Having worked out a three-way split of 25% US reciprocal tariffs that kicked in on Thursday, Indian exporters are rushing shipments ahead of the Aug 27 deadline, when Donald Trump’s “secondary sanctions” on India will double the customs duty to 50%.“We are advancing the shipments and planning to ship goods for the four…
The 50% tariffs on Indian products exported to the US makes them steeply expensive in the US market. US President Donald Trump’s escalation of trade tussle with India – doubling tariff rate on India from 25% to 50% in just a week – has left Indian exporters hunting for alternatives to deal with the blow.Indian…
Asia’s richest man Mukesh Ambani has once again chosen to draw no salary from Reliance Industries, the oil-to-telecom-to-retail giant he heads, for the fifth consecutive year. Instead, dividend payouts remain his primary source of income, according to a PTI report.According to the latest annual report of Reliance Industries, Ambani, 68, received ‘nil’ salary, allowances, perquisites,…
Bank of England (Picture credit: AP) The Bank of England on Thursday trimmed its key interest rate by 25 basis points to 4 per cent, marking the fifth reduction since August 2024, as it seeks to support Britain’s slowing economy amid concerns over rising US tariffs and domestic tax hikes.The latest cut brings borrowing costs…
Shares of Intel tumbled down on Thursday after US President Donald Trump called for the company’s chief executive to resign, citing alleged conflicts of interest involving ties to China.The INTC was trading at $19.77, down 0.6 points or 3.1% at 10:53 PM IST.“The CEO of Intel is highly CONFLICTED and must resign, immediately,” Trump wrote…
File photo: Ex-Niti Aayog CEO Amitabh Kant (Picture credit: PTI) Former G20 Sherpa and ex-Niti Aayog CEO Amitabh Kant has called the steep hike in US tariffs on Indian goods a “once in a generation opportunity” for India to push forward with long-pending economic reforms.Reacting to US President Donald Trump’s decision to double duties on…
NEW DELHI: Biocon on Thursday reported a 95 per cent decrease in its consolidated net profit at Rs 31 crore in the June quarter. The Bengaluru-based firm posted a net profit of Rs 660 crore in the April-June quarter of the last fiscal. Total revenue declined to Rs 4,022 crore in the June quarter as…
FICCI president Harsha Vardhan Agarwal on Thursday called for urgent and bold economic reforms to strengthen India’s industrial base and services sector, In response to the US imposing an additional 25% import tariff on Indian goods.The latest move from Washington takes the total tariff burden on Indian imports to 50%, sparking concerns across domestic export-facing…
