Apple will source the majority of the iPhone sold in the US from India in the June quarter while China will produce the vast majority of the devices for other markets amid uncertainty over tax tariffs, a top official said on Friday.
A team of senior officials from India will again visit Washington this month to hold discussions with their US counterparts on the proposed bilateral trade agreement (BTA), government sources said on Thursday. To give impetus to the talks, India's chief negotiator Rajesh Agrawal, special secretary in the Department of Commerce, and Assistant US Trade Representative for South and Central Asia Brendan Lynch had last month held three-day talks in Washington.
Indian and US officials will begin deliberations on the proposed bilateral trade agreement in Washington from Wednesday with an aim to iron out issues and give an impetus to the negotiations.
Main imports from the neighbouring country during April-January 2024-25 included fruits and nuts (USD 0.08 million), certain oil seeds and medicinal plants (USD 0.26 million), and organic chemicals.
India's extreme poverty rate declined sharply to 5.3 per cent over a decade from 27.1 per cent in 2011-12 even as the World Bank revised upwards its threshold poverty line to $3 per day.
The Trump trade shock is a chance to push long-overdue reforms, rather than tinker with tariffs to appease the US, suggests M Govinda Rao.
After remaining in the positive zone for three months, India's exports contracted 1.2 per cent to $33.98 billion in July, while the trade deficit widened to $23.5 billion.
From the 30-share Sensex firms, Tata Motors, Bajaj Finance, Eternal, Adani Ports, Tata Steel, Titan, Mahindra & Mahindra and Power Grid were among the gainers. Asian Paints, Sun Pharma, ITC, Nestle, Reliance Industries and HCL Tech were among the laggards.
India-Turkiye ties are strained over Ankara's Islamabad tilt, its arms links with Pakistan, and fallout from the Pahalgam terror attack.
Reliance Defence, promoted by Anil Ambani's Reliance Infrastructure, has partnered with German arms manufacturer Rheinmetall AG to produce ammunition in Maharashtra's Ratanagiri. As part of the agreement, Reliance Defence will supply the explosives and propellants for medium and large caliber ammunition to Rheinmetall.
American auto major Ford Motor on Friday said it is preparing to utilise its Chennai manufacturing plant to roll out vehicles for exports and has intimated the same to the Tamil Nadu government. Minister for TRB Rajaa, who is in the United States accompanying the Chief Minister M K Stalin to woo investors, said the efforts of the Chief Minister to reposition 'Brand Tamil Nadu' in its Numero Uno place has yielded rich dividends.
If Beijing succeeds in this multipronged effort to challenge the current dominant power, it will have not just economic but political and security consequences. There is no let-up in the South China Sea nor any de-escalation moves on the India-China border. This portends to ominous signalling from Beijing, observes China expert Srikanth Kondapalli.
The US remained India's largest trading partner for the fourth consecutive year in 2024-25 with bilateral trade valued at $131.84 billion, while the country's trade deficit with China widened to $99.2 billion during the same period, government data showed. In the last fiscal, India's exports to China contracted 14.5 per cent to $14.25 billion as against $16.66 billion in 2023-24. The imports, however, rose by 11.52 per cent in 2024-25 to $113.45 billion against $101.73 billion in 2023-24.
A PIL has been filed in the Supreme Court seeking a direction to the Centre to cancel licences and not to grant new ones to Indian firms exporting arms and other military equipment to Israel, which is fighting a war in Gaza.
'Session musicians, background singers, and studio instrumentalists fill out the sound of India's biggest hits. But their names rarely show up on screen.' 'Their royalties never arrive. And their contribution, no matter how iconic, vanishes once the track is mastered.'
A Rs 23,000-crore production-linked incentive (PLI) scheme for electronic components may boost margins and enable a broader product mix.
India has withdrawn the transhipment facility it extended to Bangladesh for exports to third countries, citing congestion at ports and airports. The decision comes after Bangladesh's interim government halted yarn imports from India and closed three land ports. The move has raised concerns about a downturn in India-Bangladesh relations following political instability and attacks on minorities in Bangladesh.
US President Donald Trump on Friday again sought to pressurise Apple on its decision to increase production of its iPhone in India. Trump said that Apple will have to pay a 25 per cent import tariffs if its mobile handsets sold in US are not produced in the boundaries of the country.
Unless something changes, Mr Trump is a huge threat right now, which is perhaps not being recognised fully, cautions Debashis Basu.
According to an industry expert, companies such as Trident, Welspun India, Arvind, KPR Mill, Vardhman Textiles, Page Industries, Raymond, and Alok Industries stand to gain, as revenue from the US market accounts for 20-60 per cent of their earnings.
While growth in India is largely domestic and hence the overall GDP effect may not be more than 0.15-0.2%, but overall trade will be impacted due to every country going back to the drawing board, points out Madan Sabnavis.
The January-March quarter (Q4) results for 2024-25 (FY25) from the country's largest passenger vehicle (PV) maker, Maruti Suzuki India (MSIL), were a mixed bag, with revenues broadly in line but operating profit missing Street expectations. Given cost pressures, margins at the operating level were the lowest in the past seven quarters.
Passenger vehicle dispatches in India from factories to dealers rose to record levels at over 43 lakh units in FY25, with utility vehicles accounting for 65 per cent of the total sales in the segment, industry body SIAM said on Tuesday. Passenger vehicle (PV) dispatches rose to 43,01,848 units in the last fiscal year, marking a 2 per cent increase compared to 42,18,750 units in FY 2023-24.
The sweeping tariffs proposed across sectors by US President Donald Trump are scheduled to be imposed starting April 2, with most analysts worried about their impact on companies, and in turn the financial markets. Recently, the US administration signaled that it will impose sectoral tariffs on energy, pharmaceuticals, semiconductors, agriculture, copper, and lumber.
India's merchandise exports in June increased 2.56 per cent to $35.2 billion from $34.32 billion in the year-ago month, according to government data released on Monday. Imports rose by about 5 per cent to $56.18 billion in June against $53.51 billion a year ago.
India fully utilised its military modernisation budget in 2024-2025 -- the first time in five years -- and signed a record Rs 2 trillion defence contracts.
The commerce department has reaffirmed its plans to launch the 'Trade Connect' e-platform to help exporters connect with stakeholders of international trade, as a part of the new government's 100-day action plan, a senior government official said.
The weakening of inflation, prospects of economic growth, geopolitical uncertainty and comfortable system liquidity may result in the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) to cut the repo rate by another 25 basis points, opine top economists. They also said the external economic pressures like trade policies and others would require continued RBI's accommodative stance and policy support for the Indian industry to sustain the growth.
Indian stock markets have experienced some ups and downs in the first half of 2025. However, both the Nifty 50 and Sensex saw steady gains, supported by a healthy economy and better corporate earnings. In this article, we will look at the detailed performance of these key indices and explore the sectors that drove the market rally.
N Chandrasekaran, chairman of Tata Consumer Products, has said in the company's annual report for FY25 that India remains one of the bright spots of economic growth amid a volatile global environment. He said India's long-term growth was underpinned by strong demographic and economic fundamentals as well as structural reforms.
Industry associations and companies in the United States, including the US Chamber of Commerce, Coalition of Services Industries and the iconic bike company Harley Davidson have called on the Donald Trump dispensation to push India to reduce tariffs, non-tariffs, and regulatory barriers to boost American exports.
Investors should avoid making drastic changes to their asset allocation during a market correction.
'That combination of a rising economy, a growing middle class, and a deepening love of diamonds and jewellery is what we see really doubling the market for diamonds over the next five years.'
India expects partners to understand its policy of 'zero tolerance' against terrorism, and it will never countenance 'perpetrators of evil' being put on par with its victims, External Affairs Minister S Jaishankar said on Saturday during extensive talks with his British counterpart David Lammy.
Sluggish urban demand, a high base effect, and weak sales of hatchbacks and sedans weigh down passenger vehicle sales in FY25.
US President Donald Trump has proposed a deal to China that would see the sale of TikTok's US operations to an American buyer in exchange for a reduction in tariffs on Chinese exports to the US. The proposal comes amid a trade war between the two countries and follows China's retaliation of Trump's tariffs on Chinese goods. Trump has also said that tariffs are a powerful economic tool and that he is determined to ensure fair trade between the US and China.
'The country that came into existence after Partition lives on hatred for India. It only wants to harm Bharat. However, India's goals are to remove poverty, bring about economic development and become a developed nation'
A bench comprising Chief Justice DY Chandrachud and Justices JB Pardiwala and Manoj Misra said Indian firms, involved in the export of arms and equipment to Israel, may be sued for breach of contractual obligations if they are stopped by it from supplying.
'Those who call for war from far-off places should realise the repercussions it has on the people who are actually affected.'
These duties will come into force from April 9.
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