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A new 26 per cent tariff imposed by the US on Indian cashew imports is expected to enhance the competitiveness of Indian cashews in the US market, particularly against Vietnam, which faces a steeper 46 per cent tariff. According to Bola Rahul Kamath, President of the All India Cashew Association, this pricing advantage could make Indian cashews approximately 20 per cent cheaper than Vietnamese products. Currently, Vietnam dominates US cashew imports, supplying around 1.3 lakh tonnes compared to India's mere 7,000-8,000 tonnes. However, Kamath warns that long-term competition may arise from African producers, who benefit from a lower 10 per cent duty. Despite a recent decline in Indian cashew exports, industry leaders like J. Rajmohan Pillai of Beta Group anticipate a potential 200 per cent increase in exports to the US, provided India enhances its processing capabilities and sources raw cashew nuts from Africa. 
Published: Apr 03 2025, 1 pmeznews.inPresident Donald Trump has expressed a willingness to negotiate tariff reductions if other nations can present "phenomenal" offers, despite some officials' resistance. Speaking aboard Air Force One, Trump defended his tariff strategy amid a stock market downturn, noting a decline in interest rates and his belief that economic instability would stabilize. He specifically mentioned potential tariff relief for China, contingent on Beijing's approval of the sale of TikTok's US operations, which faces a divestment deadline. Trump also revealed he had engaged in discussions with various parties, including automaker executives and Israeli Prime Minister Benjamin Netanyahu, who may visit the US next week. Israel recently lifted tariffs on US goods in hopes of avoiding Trump's tariffs, yet the White House announced a 17 percent rate on Israeli products. Meanwhile, the UK is subject to a minimum 10 percent tariff, while EU nations face a higher 20 percent rate.
Published: Apr 04 2025, 9 ameznews.inIn a significant market downturn, India's benchmark indices faced substantial losses, with the SENSEX closing at 75,575.31, down 720.05 points, while the NIFTY fell by 308.15 points to settle at 22,941.95. Additionally, crude oil prices dropped by ₹87 to ₹5,648.00, and silver saw a decline of ₹1,544, reaching ₹92,855.00. In a related financial update, the Finance Ministry announced that individuals who received their Permanent Account Number (PAN) based on Aadhaar applications submitted before October 1, 2024, must link their PAN with Aadhaar by December 31, 2025, to avoid penalties. After this date, late fees of ₹500 and ₹1,000 will apply for delayed linking. Failure to comply will render the PAN inoperative, affecting tax refunds and interest. This initiative is part of the government's broader strategy to enhance tax compliance and trust among taxpayers.
Published: Apr 04 2025, 10 ameznews.inUS President Donald Trump announced a significant new round of tariffs on global trading partners during a press event in the Rose Garden on April 2, 2025, marking his most aggressive move against what he perceives as an unfair global economic system. The initial rollout caused confusion among more than a dozen countries, as discrepancies emerged between the tariff rates presented and those listed in a White House annex. For instance, India's tariff was initially set at 27 percent but was later revised to 26 percent, while South Korea's rate fluctuated between 25 and 26 percent. Under Trump's executive order, all trading partners will start with a 10 percent tariff from April 5, with specific countries facing higher rates based on the annex. Notably, some overseas territories were omitted from the final tariff list, raising further questions about the implementation of the new policy.
Published: Apr 04 2025, 10 ameznews.inA new 27% tariff imposed by the US on the gems and jewellery industry is set to disrupt India's significant export market, which accounts for nearly one-third of the country's $32 billion gem and jewellery exports. Products such as cut and polished diamonds, previously duty-free, will now face substantial tariffs, with gold and platinum jewellery taxed at 32-34% and silver jewellery potentially reaching 40.5%. Experts, including Ramit Kapur of GSI India, warn that this hike will particularly impact major categories like studded gold jewellery, although high-value items may still attract discerning US buyers. Rajesh Rokde from the Gem and Jewellery Council of India emphasized the need for strategic foresight in navigating these trade dynamics. While domestic businesses may remain unaffected, the tariff could lead to inflation and slower growth in the US, prompting concerns that Indian exporters, especially small businesses, may lose market share to competitors not facing such duties.
Published: Apr 04 2025, 10 ameznews.inRipple Premium White Tea from Kanan Devan Hills Plantations Company (KDHP) in Munnar has been awarded the "best Indian Origin tea award" at the Global Tea Championship (GTC) in Las Vegas. KDHP, the largest tea plantation company in South India, highlighted that the GTC recognizes the highest-quality teas globally, celebrating excellence in various categories such as leaf appearance and overall quality. K. Mathew Abraham, Managing Director and CEO of KDHP, emphasized that this accolade reflects the company's commitment to producing world-class teas. Additionally, KDHP's white tea received a 'Highly Commended' award at The Leafies 2024 competition in the UK, marking the third instance of global recognition for Ripple Premium White Tea. This achievement underscores KDHP's expertise and dedication to quality in the competitive tea market.
Published: Apr 04 2025, 8 ameznews.inAshok Gulati, a prominent Indian agricultural economist and professor at the Indian Council for Research on International Economic Relations (ICRIER), has suggested that India may not suffer significant losses in agricultural exports despite new tariffs imposed by US President Donald Trump. He highlighted the importance of strategic negotiation during bilateral trade talks, asserting that India could potentially gain if it negotiates effectively. Currently, Indian agricultural exports face a 27% tariff, but the impact will vary across different products, depending on how these tariffs compare with those imposed on competing countries like Vietnam and Thailand. For instance, if Indian rice is taxed at 26% while competitors face higher tariffs, India could benefit. Gulati concluded that the outcome hinges on India's ability to secure a favourable bilateral trade agreement, which could transform the tariff challenge into an opportunity.
Published: Apr 04 2025, 8 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 pm
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