Iran's nuclear programme set back by up to two years after US strikes: Pentagon
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News18
33 minutes ago
- News18
Supply Chain Sabotage? China's Manpower Withdrawal From Foxconn India Raises Red Flags
According to top intelligence sources, China's move aims to tarnish India's reputation as a reliable global supply chain partner. China is strategically targeting India's ambition to become a global manufacturing hub, top intelligence sources have told CNN-News18. This is exemplified by the recent withdrawal of Foxconn manpower, which has disrupted the production of the iPhone. Foxconn Technology Group has asked hundreds of Chinese engineers and technicians working in India's iPhone factories to return home, financial news agency Bloomberg said in a report. According to top intelligence sources, this move aims to tarnish India's reputation as a reliable global supply chain partner. China's actions coincide with India's efforts to expand high-tech manufacturing in electronics and electric vehicles under the Production Linked Incentive (PLI) scheme and the Make in India initiative. Top intelligence sources indicate that these non-kinetic moves follow a period during which President Xi Jinping was notably absent from the public eye for nearly two weeks. Such tactics are designed to signal to multinational companies that establishing operations in India might invite Chinese retaliation in the future, sources say. Intelligence sources confirm that China has been involved in coordinated delay actions that include withdrawing over 300 Chinese engineers from Foxconn's India plants and delaying export approvals for critical machinery, alongside restrictions on magnet exports. These disruptions are not isolated incidents but represent a threat to India's economic security and strategic autonomy. According to top intelligence sources, these actions are timed to affect deliveries during tariff-sensitive periods, particularly in light of the tariffs imposed by US President Donald Trump on non-US-made iPhones. This has pressured Apple to increase production in India. The delays force Apple to either absorb the additional costs or reconsider its focus on India as an export hub, say sources. The impact of disruptions at large factories like Foxconn's extends beyond the immediate loss of 300 engineers. Top intelligence sources warn that the livelihoods of thousands of Indian workers and the broader supporting industries will also be significantly affected. First Published:
India Gazette
35 minutes ago
- India Gazette
US-Vietnam trade deal offers cautionary lessons for India, says GTRI Report
New Delhi [India], July 3 (ANI): A new trade agreement between the United States and Vietnam is raising concerns and offering key lessons for India, especially for Indian exporters who see Vietnam as both a competitor and a partner in regional value chains, according to a report by the Global Trade Research Initiative (GTRI). The report highlighted that despite a historic trade agreement signed in 2000 that allowed Vietnamese goods to enter the US at concessional tariffs of 2 to 10 per cent, the new deal imposes a flat 20 per cent tariff on all Vietnamese exports to the U.S. This move could affect Vietnam's export flow worth USD 135 billion and reverse two decades of trade liberalization. GTRI stated 'For Indian exporters eyeing Vietnam as a competitor and partner in regional value chains, the deal presents both cautionary lessons and strategic implications'. The new agreement, announced by US. President Donald Trump, provides duty-free access to US exports entering Vietnam. However, it sharply increases tariffs on Vietnamese goods exported to the US, reducing the earlier proposed rate of 46 per cent but still doubling or tripling the rates allowed under the 2000 Bilateral Trade Agreement (BTA). Vietnamese goods such as textiles, footwear, seafood, furniture, handicrafts, and agricultural products had benefited from low tariff access to the US market since 2001, helping Vietnam grow its exports from just USD 800 million to over USD 135 billion. The report warned that the new flat 20 per cent tariff will erase this advantage and may weaken Vietnam's competitiveness in the American market. Another concern raised in the report is the US decision to impose a 40 per cent tariff on goods routed through Vietnam but originally made in countries like China. Experts say this move is legally questionable and inconsistent with World Trade Organisation (WTO) rules, as transhipment does not change the country of origin. GTRI noted that the timing of this deal is critical for India, which is in the final stages of negotiating its own trade agreement with the US. Indian negotiators are advised to learn from Vietnam's experience, particularly the risks of reversing previous concessions, applying blanket tariffs, and unclear rules around the origin of goods. The report concluded that Indian exporters and policymakers must watch closely as the US reshapes its trade policies in Asia to identify both opportunities and red flags. (ANI)
Hans India
an hour ago
- Hans India
Pentagon Confirms 10-Year India-US Defence Framework Aimed at Deepening Ties
India and US likely to sign new defence framework at next Rajnath Singh Pete Hegseth meet. India and the US will ink a new India US defence framework when Singh meets his US counterpart later this year, according to a Pentagon official. The U.S.-India Defence Framework was noted in an official readout published by the Pentagon on Wednesday. 'The two leaders agreed to sign the India US defence contract next 10-year India-U.S. defense pact at their upcoming meeting this year.' 'The two sides had a productive discussion, including an overview of the accomplishments made since the release of the February 2025 2+2 ministerial statement in further strengthening Rajnath Singh defence ties,' the readout said. 'The Pentagon said the two sides discussed significant upcoming U.S. defense sales to India and the importance of continued India US defence cooperation,' it added, without elaborating. India Asks US to Expedite Delivery of GE F404 Engines for Tejas Jets. During the phone call on Tuesday, Singh had also asked Hegseth to expedite the delivery of GE F404 engines needed for the Tejas Light Combat Aircraft (LCA), people familiar with the development told PTI. Singh also 'underscored the need to expedite the finalization of the Memorandum of Understanding (MOU) between state-owned Hindustan Aeronautics Ltd (HAL) and GE Aerospace for the joint production of F414 jet engines' which is 'expected to be a significant element of apache helicopter India deal,' sources familiar with the development told The EurAsian Times. The delayed supply of F404 engines by GE Aerospace has led to the state-run aerospace major missing its deadline to deliver Tejas Mark 1A aircraft to the Indian Air Force (IAF). On Tuesday, the Indian readout of the Singh–Hegseth meeting said the two 'discussed a range of issues related to defence cooperation, including sustained military-to-military cooperation, capacity building through training and exchanges, and enhanced engagement between the two defence industries.'
