May consider dividends to citizens: Trump on tariff revenue disbursal plans
Notably, Trump has signed a new executive order that imposes fresh import tariffs on goods from 69 countries and the European Union, which will come into effect on August 7.As per the order, Syria tops the list of highest tariffs at 41 per cent, followed by Laos and Myanmar at 40 per cent, and Iraq and Serbia at 35 per cent. Other countries such as Libya and Algeria will now face a 30 per cent duty.However, China, against whom Trump once ordered tariffs as high as a whopping 145 per cent, is still negotiating with the US, with American officials saying that they are looking at an imminent trade deal. "But it is not 100 per cent done," US Treasury Secretary Scott Bessent told CNBC recently.The move is part of Trump's push for what he describes as more "fair and reciprocal" trade relationships. The White House said that some countries had failed to meet US expectations during trade talks, leading to these new duties.Following Trump's tariff move and the deadline, global stock markets witnessed a slump as investors panicked, fearing a global supply chain disruption and the outcome of their talks with China.Traders who had grown accustomed to Trump's frequent trade threats may now be facing a reality check, as broad tariffs on numerous countries have taken effect just as the deadline to negotiate trade agreements with the US passed without resolution.- EndsTune InMust Watch
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Time of India
12 minutes ago
- Time of India
Big Tech continues to hire in India even as local majors downsize
Academy Empower your mind, elevate your skills ETtech Indian IT services majors may be trimming their workforce, but for Big Tech, it's still hiring season in giants under the FAAMNG umbrella – Facebook parent Meta, Amazon, Apple, Microsoft, Netflix, and Google – have grown their India headcount across their own and their affiliate entities by 16% over the past 12 months, data from staffing firm Xpheno pace of growth is slightly higher than 15% in the 12 months to August saw over 28,000 net employee additions in the past one year. The current estimated collective headcount across their entities in India is over 208,000, according to hiring rate 'is relatively healthy, especially with the buzz of AI potentially impacting pace and volume of hiring,' said Kamal Karanth, cofounder of companies continue to post healthy hiring demand in the country, with active openings at 4,500 currently, despite executing large-scale layoffs in the US, with an estimated 100,000 laid off Covid pandemic-induced hiring surge saw net additions for the FAAMNG cohort grow 35% year-on-year in 2022, followed by a slowdown to 6% growth in comparison, the top six Indian IT services firms saw headcount additions soar 22% on year in 2022, followed by declines by 0.2% and 3.1% in 2023 and 2024, respectively. As of June 2025, combined headcount in these firms grew 1.3% year-on-year to 1,625, the country's IT bellwether Tata Consultancy Service (TCS) on Sunday caused shockwaves as it announced layoff of 12,000 employees in mid-to-senior levels, citing skills mismatch in project global giants have also announced major layoffs in recent times, India has seen a lesser impact compared to many other geographies, experts noted.'While we do see some of this affecting India, the volumes so far are not as high as global numbers,' said Neeti Sharma, CEO of IT staffing firm TeamLease hiring in the industry is increasingly selective, with a focus on specialised skills, especially in artificial intelligence (AI) and cloud.'There is a high demand for skills such as AI, cloud and cybersecurity,' while hiring is down for support and routine roles, especially in conventional technologies, Sharma said.'Few older roles will gradually become redundant. However, newer roles are being defined,' she said. 'This transition is tough now, but it's needed to stay relevant.'Employees face more pressure to perform and upskill, especially in AI and cloud, as companies focus on keeping top talent and building leaner teams, Sharma per Quess IT staffing, hiring by large tech firms in India dipped by 3-6% in the fourth quarter of FY2025 ended in March. However, it was up by about 8-10% in the first quarter FY2026, it said.'While global tech firms are making headlines for layoffs abroad, many are increasing hiring in India, especially through their GCCs,' said Kapil Joshi, CEO of Quess IT global capability centres (GCCs) are now doing more high-end work, such as developing AI tools, cloud platforms, and new digital products, he the same time, companies are seeing the need to balance costs while increasing focus on innovation, experts said.'They need to train people faster, close talent gaps, and compete for the best candidates in a tight market,' Joshi said.
Indian Express
12 minutes ago
- Indian Express
P Chidambaram writes: Military boldness, political timidity
During the debate in both Houses of Parliament last week, the government gave the impression that Operation Sindoor had been finally paused, the goals had been achieved, and it is back to the usual way of doing things. That would be wrong. The truth is, the military was playing a tough game when the civilian government forcibly snatched the ball. Operation Sindoor has busted some myths: that fighting a war against Pakistan will be easy, that India's superiority in conventional war will prevail, and that India has friends and Pakistan none. The military leadership was exemplary. Apparently, they asked for and got operational freedom. The Indian armed forces' first-mover advantage gave them early wins: 9 places that hosted terrorist infrastructure were demolished and several terrorists were killed. However, Pakistan's armed forces quickly recovered. They counter-attacked on May 7-8 using China-made aircraft (J-10), China-made missiles (PL-15) and drones acquired from Türkiye. Realising that 'tactical mistakes' had been made, the military leadership paused the operation and 're-strategised'. That is leadership. It re-launched the Operation on May 9-10, struck at 11 military airbases and severely damaged them. Inevitably, the Indian armed forces suffered some 'losses', and the Chief of Defence Staff and the Deputy Chief of Army Staff admitted the losses. That too is leadership. Contrast the political leadership. It will not admit the mistakes or the losses. Like an ostrich whose head is buried in the sand, it maintains that India scored a 'decisive victory' in Operation Sindoor. If there was a decisive victory, why did India not press its advantage, secure more military gains, and demand and obtain from Pakistan political concessions? Why was the first outreach by the DGMO, Pakistan accepted immediately and without conditions? There were no answers from the government. [A celebrated example of a decisive victory was the surrender of Pakistan's General Niazi to India's Lt General Aurora on December 16, 1971.] Nor will the political leadership acknowledge the reality: Pakistan and China have forged strong military and political bonds. China is supplying new generation fighter aircraft and missiles to Pakistan. Obviously, China was testing its military hardware in a battlefield in a real war. The military bond is visible. On the political front, China's foreign minister Wang Yi praised Pakistan's 'resolute action on terrorism'. China also voted in favour when IMF, World Bank and Asian Development Bank approved large amounts of loans to Pakistan. The other reality is that Pakistan's (at least the Pakistan military's) bonds with the United States are firmly in place. President Trump invited General Asim Munir, Pakistan's Army Chief, to lunch at the White House, an unprecedented honour to a person who is not Head of State or Head of Government. Mr Trump thanked General Munir 'for not going into the war and ending the war', and gloated again that he had brought about the ceasefire. The Prime Minister and the Home Minister do not miss an opportunity to rebuke the Opposition but dare not rebut or refute President Trump or President Xi or their foreign ministers. The overwhelming reality is that the US and China are on the same page in their support to Pakistan militarily, politically and economically. Keeping aside their differences, the US and China have decided to support and patronise Pakistan. Worse, every country to which India reached out offered sympathy for the victims of the Pahalgam attack and condemned terrorism but did not condemn Pakistan as the perpetrator. India's political leadership refuses to acknowledge the reality and continues to nurture the false belief that Pakistan is friendless and India has friends all over the world. The other delusion of the Indian political leadership is that the 'terror ecosystem' has been smashed in Jammu & Kashmir. The truth is different. Ministry of Home Affairs disclosed to the all-party meeting on April 24, 2025 (immediately after the Pahalgam attack on April 22) that, between June 2014 and May 2024, there were — Undeniably, there were terrorist incidents and casualties in the governments of A B Vajpayee (1998-2004) and Manmohan Singh (2004-2014) as well. The terror ecosystem is populated by Pakistan-based infiltrators and India-based extremists, especially in Kashmir. Often, they work together, strike together and help each other. On April 26, the government demolished several houses in Kashmir of suspected 'terrorists associated with the Pahalgam massacre' — the owners were obviously India-based. In June 2025, the National Investigation Agency (NIA) arrested two Indians for harbouring the suspected terrorists. The suspected terrorists were neutralised on July 27-28 and identified as infiltrators. India-based terrorists have committed terrorist attacks in the past. For example, Mumbai witnessed terror attacks in 2006 (suburban train bomb blasts), 2008 (Tajmahal Hotel) and 2011 (Zaveri Bazaar). The 2006 incident was committed by India-based terrorists, the 2008 attack was by 10 Pakistani infiltrators including Kasab, and the 2011 incident was by India-based terrorists. The government's claim that the terror ecosystem in India has been dismantled is manifestly wrong. The failure of intelligence and the absence of security forces in Pahalgam led to the tragedy. No one in the government has taken responsibility. The military's gains in Operation Sindoor will have a deterrent effect on Pakistan but the political leadership's timidity before the US and China may cancel the gains and give encouragement to Pakistan.
Indian Express
12 minutes ago
- Indian Express
Revisiting Chola grandeur with eyes wide open
Once again, public discourse is abuzz with the legacies of the Cholas — thanks to Prime Minister Narendra Modi's recent visit to Gangaikonda Cholapuram, their erstwhile capital. The Cholas occupy a hallowed space in Indian imagination for their pioneering experiments in democracy, but one needs to look beyond their basilica-like monuments, gilded Natarajas and temple vimanas (the towering structure above the inner sanctum) piercing the skylines of Thanjavur, Gangaikonda Cholapuram, and Darasuram. From an intellectual standpoint, the political rhetoric around the Cholas seems to overshadow the works of historians like K A N Sastri, R C Majumdar, B D Chattopadhyaya, R Champakalakshmi, Ranabir Chakravarti, Y Subbarayalu, Jonathan Heitzman, Hermann Kulke, Tansen Sen, Rakesh Mahalakshmi, Noboru Karashima, Anirudh Kanisetti, etc. Relatively forgotten by nationalists, the Cholas underwent an image makeover around the 1930s. Kanisetti says Sastri and Majumdar found romanticised examples of enlightened Chola imperialism to counter Britain's pride in its Roman past. Unsurprisingly, Kalki Krishnamurthy's novel Ponniyin Selvan (1950-54) edified Chola king Rajaraja I as an amalgamation of Mahatma Gandhi, Jawaharlal Nehru, Sardar Vallabhbhai Patel and C Rajagopalachari. While most historians date the Cholas between the 9-13th century, ambitious ones have gone back to the Sangam period (between 350 BC and 1279 AD). In the latter periodisation, the Tamil confederacy was defeated by Kalinga in 155 BC, and re-emerged in 850 AD under Vijayalaya, who, with Pallava approval and Velir solidarity, seized Thanjavur. His grandson Parantaka-I vanquished the Pandyas and Pallavas, before being defeated by the Rashtrakutas. Parantaka's grandson Raja Raja Chola-I and great-grandson Rajendra Chola-I came to personify what made the Chola Empire a subject of unwavering awe — their towering temples, intricate bronzes, maritime prowess and administrative infrastructure. History enthusiasts are generally captivated by Chola polity's three-tiered system, constituted by nadu (supra-village), ur (village) and brahmadeya (Brahminical agrahara) assemblies, with nagarams (merchant-towns) governed by nagarattars. Simultaneously, Chola temples emerged as economic hubs endowed with devadana (land grants), and empowered as rheostats of irrigation and artisanal production. Remarkable as Cholas were in record-keeping — from the minutiae of irrigation-tank maintenance to rice-paddy yields — they were also a regime obsessed with surveillance. Wordy deeds codified brahmadeya, devadana and duties of village assemblies. State-appointed naduvagai ceyvars (accountants) and kankani nayakas (overseers) ensured that communal decisions aligned with royal revenue imperatives. Rigorous audits reviewed revenue targets and exemptions, wherein every remission required centralised ratification. Much euphoria has revolved around the concept of Chola elections by kudavolai (lottery) among the local committees. These offered a democratic veneer, but the franchise remained narrowly circumscribed within clannish coteries, while state commissioners retained veto power. Chola patronage of merchant guilds (ayyavole and manigramam) forged expansive trade-relations with South-East Asia and Sung China, while ships requisitioned from those guilds enlarged Chola warrior fleets. Revenues were reploughed for naval expansion in a commercial empire spanning over 2,200 miles — from Bengal to Sri Lanka and the Malay Archipelago. Here lies a well-concealed narrative of Chola supremacy, of profit-driven plunder. The Lankan chronicle Culavamsa recounts desecrated temples and monastic reliquaries around the 10th-11th century, around the time when Rajaraja-I and Rajendra-I's Lankan and South-East Asian raids targeted portable wealth, comprising temple treasuries, in the name of territorial expansion. Chola naval ascendancy clubbed martial hegemony with mercantile collaboration, provisioning warships, recruiting mariners and amassing siege-equipment without democratic will. This was at odds with the dharmic ideal of righteous rule. Though 11th-century Chola navies realigned trade from the Persian Gulf to the Indian Ocean, their profits were not redistributed for the upkeep of coastal nagarams. The Cholas were not classical democrats. The real reason behind their return to public discourse is not democracy but the same political impulse that led Margaret Thatcher to turn to the Victorians, or the Victorians to turn to the Greeks. There is no need to shy away from marvelling at the fluid grace of a bronze dancing Shiva from Chola times. Indians, like the Greeks, Britons and Americans, too deserve to celebrate their antiquity's heritage. But an uncritical historicism marks the vanity of present-day ideologues while concealing past foibles. One cannot help but also ruminate on the fact that back in 1940, Vedic scholar Justice T Paramasiva Iyer revealed that in the 10th and 11th centuries, during the reign of Rajaraja-I, Rajendra-I and Kulottunga-I, the supposed location of the Ram Setu was shifted from the Korkai harbour to its currently famed site at Adam's Bridge. The consecration of the Rameswaram lingam at the Rameswaram temple officiated a new tradition of Vaishnavite and Shaivite synergism in southern India. Political pundits may feel tempted to join the dots keeping in mind that a 21st-century history of the Cholas is also a history of the present. The writer teaches at O P Jindal Global University and is the author of The Great Indian Railways, Indians in London and Adam's Bridge
