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Time of India
14 hours ago
- Time of India
Trump's 25% tariff to hit makhana export from Bihar
1 2 Patna: The US president Donald Trump's announcement of imposing 25% tariff on Indian products imported to his country is likely to hit makhana (fox nut) exports from Bihar. The state has a share of more than 25% of the makhana export from India. Till now, the import duty on Indian makhana in the US was 3.5%, which became 25% from Aug 1. Makhana exporter Satyajit Kumar Singh told this newspaper on Friday that Bihar is a major exporter of fox nuts. "India exports approximately 2,000 tonnes of fox nuts worth around $30 million (Rs 240 crore) per annum to the US and other countries. In 2024, Bihar alone contributed 600 tonnes to India's makhana export to the United States," said the managing director of a leading fox nut export firm in the state, adding the "superfood" was getting popular in the US and competing with their local walnut and almond due to its health benefits. Singh said Trump's July 30 decision to impose a 25% tariff on Indian imports, effective from early Aug, could significantly affect India's annual makhana exports to the US. "This policy may increase landed costs, squeezing competitiveness in a price-sensitive category. However, Indian makhana — clean-label, plant-based and sustainably sourced — could emerge attractive. Exporters must double down on FDA compliance, origin-based branding, traceability and value-added innovation," he said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas Prices In Dubai Might Be More Affordable Than You Think Villas In Dubai | Search Ads Get Quote Undo "However, if managed diligently, this external challenge may catalyse makhana's breakthrough as a premium superfood in the US market," Satyajit added. The 25% tariff is bound to drastically increase makhana prices in the US. At present, it is sold in the US market at a rate of Rs 8,000/kg. It is believed that the US importers will ask for a 25% reduction in prices of makhana imported from India. That will make things difficult for the Indian exporters, who are likely to look towards other countries for exporting their product, experts believed. After the US, Nepal and the UAE are the major importers of makhana from India. The experts said more than 85% of the country's makhana is produced in Bihar. However, Punjab and Assam are its biggest exporters due to lack of a good food processing industry and the necessary infrastructure like cargo facility for export in Bihar. According to industry experts, besides makhana, Bihar exports Basmati rice, mango and litchi to Europe and the Gulf countries.
Hans India
16 hours ago
- Hans India
India's export loss due to higher US tariffs limited to 0.3 to 0.4 pc of GDP: Report
New Delhi: The direct export loss from the higher US tariffs announced on Indian exports could be limited to around 0.3-0.4 per cent of its GDP as the country's largely domestic-driven economy and its relatively low share of goods exports to the US should provide some cushion, according to a CareEdge Ratings report released on Friday. "Not only is India's overall export dependence relatively low, but its merchandise export exposure to the US is also low at around 2 per cent of GDP, offering additional resilience," the report contends. Moreover, India's services exports remain outside the scope of these tariffs and should continue to support the external sector, the report states. The report also projects the current account deficit (CAD) to remain manageable at 0.9 per cent of GDP in FY26. Any diversification in India's oil imports away from Russia is expected to have a minimal impact on India's CAD, as the price differential between Russian Ural and the benchmark Brent Crude has significantly narrowed to around $3 per barrel from an average of $20 per barrel in 2023. India's merchandise exports to the US stood at $87 billion in FY25. Electronic goods accounted for the largest share of exports at 17.6 per cent. This was followed by pharma products (11.8 per cent) and gems & jewellery (11.5 per cent). The US accounts for 37 per cent of India's total electronic exports. Select items from this sector have been temporarily exempted from the 25 per cent US tariffs. Additionally, India's pharma exports to the US (accounting for 35 per cent of India's total pharma exports) have also been excluded from the tariffs, the report states. However, the overarching risk of sector-specific tariff action remains. India has one of the highest numbers of US FDA-approved manufacturing facilities catering to the generic medicine requirements of the US. While tariff uncertainties persist, the sector's fundamental competitive advantages offer some resilience, the report observes. India's relative tariff advantage for its exports to the US compared to several Asian peers, such as Vietnam, Indonesia, and South Korea, has effectively reversed following the 25 per cent US tariff, along with the possibility of an additional penalty linked to India's trade ties with Russia, according to the report. However, India-US trade negotiations are expected to continue and could bring some relief. Still, India is likely to remain cautious about opening sensitive sectors such as agriculture and dairy, suggesting that the talks may take some time to conclude, the report said. Against this backdrop, it is too early to determine the clear winners and losers from the evolving tariff landscape. Volatility in global financial markets is likely to persist, and tariff-related developments will be critical to watch in the coming months, the report added.
Economic Times
a day ago
- Economic Times
Jefferies upgrades Swiggy to buy with Rs 500 target price but calls it high risk-high reward play
Food delivery and quick commerce player Swiggy, whose shares were trading 4% lower on Friday morning after reporting a doubling of losses in Q1, saw global brokerage firm Jefferies upgrade the stock to 'Buy' with a target price of Rs 500. ADVERTISEMENT "With a pause on dark store expansion and easing competition, Q1 profitability likely marked the trough. Swiggy, however, remains prone to high volatility due to a low-margin base," Jefferies said while upgrading the stock to 'Buy' with a high risk-reward profile. During the morning session, Swiggy shares fell 4% to Rs 386.25 on the BSE as investors tempered expectations. The food delivery business's contribution margin contracted 50 bps QoQ to 7.3%, which the management attributed to seasonal rider availability issues and one-off fixed cost increases tied to appraisals. Jefferies said it expects a 20% CAGR in food delivery revenue over FY25–28 in its base case. 'Unit economics should steadily improve with scale as it unlocks cost efficiencies and as customer willingness to pay for convenience increases. We value Swiggy's food delivery business at 38x Sep-27E adjusted EBITDA, quick commerce at 4x Sep-27E sales, SC&D at 0.5x Sep-27E sales, and OOH at 1x Sep-27E GOV to arrive at a price target of Rs 500,' it brokerage firm Motilal Oswal expects margins to rebound from Q2 onwards as operating costs normalize, GOV scales further, and platform innovations like Bolt deliver incremental efficiency without eroding profitability.'We believe execution has improved notably, with the improvement in QC AOV being an encouraging sign. We remain on the sidelines due to continued heightened competition in the sector. Our target price of Rs 450 implies an 11% upside from the current price. We reiterate our 'Neutral' rating on the stock,' Motilal said. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
