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US President Donald Trump has unveiled a new set of reciprocal tariffs, imposing a 26% levy on Indian exports, which could impact sectors like textiles and electronics. However, higher tariffs on competitors such as China (34%), Vietnam (46%), and Bangladesh (37%) may provide Indian exporters with a competitive advantage. Announced during a press conference in the White House Rose Garden, the tariffs are part of Trump's broader strategy to address perceived trade imbalances, with a baseline tariff of 10% on all imports. The US, India's largest trading partner, has a significant trade surplus with India, prompting ongoing negotiations for a bilateral trade agreement aimed at reducing tariffs and non-tariff barriers. While India seeks to lower tariffs on sensitive items like agriculture, the US is pushing for broader concessions. The new tariffs, effective from April 3, threaten to disrupt global trade dynamics but may also create opportunities for Indian exporters. 
Published: Apr 03 2025, 4 ameznews.inAir India, under the Tata Group, is set to commence a $400 million retrofit programme aimed at overhauling its legacy fleet, which includes 27 Boeing 787s and 13 Boeing 777s. The first of the widebody aircraft will be sent to the US for retrofitting later this month, with the entire process expected to take just over two years, contingent on a steady supply of components. The upgrades will enhance long-haul service standards, featuring new seats, inflight entertainment systems, and a refreshed livery. Additionally, the airline has begun retrofitting its narrowbody A320 aircraft, with plans to upgrade all 27 legacy A320neos by the third quarter of 2025. An interim "heavy refresh" programme for the B777s is also underway to improve passenger experience on ultra-long-haul flights, addressing delays in seat deliveries due to supply chain issues. The comprehensive upgrades aim to extend the aircraft's lifespan and elevate service quality.
Published: Apr 03 2025, 10 pmeznews.inApple's shares plummeted over 8% following the announcement of significant tariffs imposed by US President Donald Trump, marking the company's worst day since September 2020. The tariffs, particularly a 54% levy on Chinese imports, threaten to increase the price of iPhones, which are predominantly manufactured in China. Analysts predict that the cost of the iPhone 16 could rise by as much as 43%, potentially pushing its price from $799 to $1,142. Despite some production shifts to countries like Vietnam and India, these regions are also facing hefty tariffs. With iPhone sales already struggling in key markets, the added financial pressure from tariffs could further impact demand, giving competitors like Samsung an advantage. Experts suggest Apple may delay significant price hikes until the launch of the iPhone 17 in the fall, as the company navigates the challenging landscape of global trade and consumer expectations.
Published: Apr 03 2025, 10 pmeznews.inJayen Mehta, Managing Director of the Gujarat Cooperative Milk Marketing Federation (GCMMF), which oversees the Amul brand, expressed optimism about the future of Indian dairy exports amid new tariffs imposed by the Trump administration. With Amul exporting ₹1,000 crore worth of dairy products annually, Mehta believes these tariffs will position Indian brands as the "preferred supplier of choice" in 50% of markets traditionally served by the US. He noted that the US, the second-largest dairy exporter, shipped 54 lakh tonnes of dairy products in 2024, with significant exports to India's neighboring regions. Despite the anticipated increase in import duties on Amul products, Mehta is confident that the Indian diaspora in the US will absorb the costs. He highlighted the Indian government's support for the dairy sector, maintaining high import duties on foreign dairy products to protect local producers. Amul currently exports 19 products to the US, including cheese and butter.
Published: Apr 03 2025, 10 pmeznews.inIn FY24, India exported electronics worth $10 billion to the United States, with the India Cellular and Electronics Association (ICEA) projecting potential growth to $80 billion annually in the coming years. The industry sees a strategic advantage over competitors like China and Vietnam, which face higher US tariffs, with India set to incur a country-specific duty of 27% from April 9. However, some developing nations have secured lower tariffs, prompting calls for India to expedite Bilateral Trade Agreements (BTAs) with the US and UK to unlock a $100 billion trade potential. Industry leaders emphasize the need for India to enhance its manufacturing capabilities and focus on high-value production, such as AI-driven solutions, to strengthen its position in the global electronics market. Despite the tariff advantages, challenges remain from countries like Saudi Arabia and the UAE, which could threaten India's export growth.
Published: Apr 03 2025, 8 pmeznews.inA new report by the Boston Consulting Group (BCG) highlights the transformative potential of Artificial Intelligence (AI) in India's agriculture and healthcare sectors, marking a significant shift from an emerging trend to a vital economic driver. Titled ‘Unlocking AI’s Potential in India: Transforming Agriculture and Healthcare’, the report emphasizes AI's role in enhancing food security and healthcare access. With 85% of Indian farmers managing small landholdings, AI can facilitate precision farming, potentially increasing productivity by 8% and reducing resource usage by 28%. In healthcare, AI is streamlining diagnostics and treatment, making care more accessible. BCG's Managing Director, Sidharth Madaan, noted that AI is revolutionizing these sectors, while Aparna Bijapurkar stressed the need for public-private partnerships to ensure effective implementation. The report identifies five key enablers for AI's success, including robust data infrastructure, talent development, ethical governance, collaborative innovation, and scalable pilot programs.
Published: Apr 03 2025, 9 pmeznews.inWater storage in India’s 161 major reservoirs has fallen below 40% of capacity this week, with 65% of these reservoirs reporting levels below 50%, according to the Central Water Commission (CWC). Current storage stands at 72.91 billion cubic metres (BCM) out of a total capacity of 182.375 BCM, still higher than last year and the average of the past decade. The eastern region's reservoirs are particularly affected, with levels at 37.6% of their capacity. The central region shows slightly better figures at 45%, while the northern region is critically low at just 23%. The southern region reports 36.5% storage, with Tamil Nadu faring better than others. The western region's reservoirs are at 48%. The India Meteorological Department warns of above-normal temperatures and below-normal rainfall this month, which could exacerbate the situation further.
Published: Apr 03 2025, 8 pmeznews.inIndia's medical device exports to the US reached $714.38 million in 2023-24, while imports from the US were significantly higher at $1,519.94 million, according to the Exports Promotion Council of Medical Devices. Amidst an uneasy calm in the pharmaceuticals and medical devices sectors, US President Donald Trump's "reciprocal tariff" plan has exempted pharmaceuticals but imposed a 27% tariff on medical device exports from India. Industry representatives are looking towards upcoming bilateral negotiations for clarity on these tariffs, with many companies, including Cipla and Lupin, considering expanding US manufacturing. The Indian Pharmaceutical Alliance emphasized the importance of affordable generic medicines for US public health and economic stability, while medical device-makers expressed concerns over regulatory hurdles and non-tariff barriers. As India and the US aim to double their trade to $500 billion, addressing these challenges will be crucial for sustaining supply chains and enhancing market access.
Published: Apr 03 2025, 8 pmeznews.inThe Punjab government has announced a decision to allow paddy transplanting from June 1, a move that has sparked ecological concerns among experts. This change contradicts the 2009 Punjab Preservation of Subsoil Water Act, which aimed to regulate groundwater use by prohibiting early nursery raising and transplanting before mid-June. Critics argue that this decision undermines groundwater conservation efforts, as it may require farmers to start nurseries earlier, violating the law's intent. However, some experts suggest staggered transplanting could mitigate stubble burning, a significant contributor to Delhi's winter air pollution. Agriculture Minister Gurmeet Singh Khudian defended the decision, citing difficulties farmers faced last year due to high moisture levels in paddy. The government plans to divide the state into zones to stagger transplanting dates, as the area under rice cultivation continues to rise, despite efforts to encourage diversification into other crops.
Published: Apr 03 2025, 8 pmeznews.inAs uncertainty surrounds potential US tariffs on alcoholic beverages, Indian industry leaders are advocating for bilateral trade discussions to safeguard the domestic sector, which contributes over ₹3 lakh crore to state revenues and supports millions of jobs. This call for action follows India's recent reduction of tariffs on bourbon whiskey from 150% to 100% in February, a move prompted by US criticism of India's trade practices. Anant S Iyer, Director General of the Confederation of Indian Alcoholic Beverage Companies, highlighted the challenges faced by Indian manufacturers, including high operational costs and restrictive licensing. While lower import duties may benefit US brands, they could undermine the competitiveness of Indian spirits, which already face higher taxes compared to imported liquors. Industry representatives are urging the government to address these disparities and remove non-tariff barriers to ensure a level playing field in the global market.
Published: Apr 03 2025, 8 pmeznews.inEight key members of the OPEC+ alliance announced on Thursday a cumulative increase in crude oil output of 411,000 barrels per day (b/d), following a virtual meeting to assess global market conditions. The countries involved—Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman—had previously made voluntary adjustments in April and November 2023. This decision comes amid rising concerns over a potential global recession, exacerbated by the US imposing reciprocal tariffs on trading partners, which has contributed to a decline in international crude oil prices, with Brent falling below $70 a barrel. OPEC stated that the production increase, effective from May 2025, aligns with a gradual return of 2.2 million b/d of voluntary adjustments agreed upon in December 2024. The group emphasized its commitment to market stability and will hold monthly meetings to review production levels and compensation plans.
Published: Apr 03 2025, 8 pm
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