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Economic Times
3 minutes ago
- Economic Times
Shrimp stocks Avanti Feeds, Waterbase, others slide up to 5% after Trump slaps 50% tariffs on Indian exports
From 'Howdy Modi' to tariff walls Live Events Room for negotiation? (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of India's leading shrimp exporters fell as much as 5% on Thursday after U.S. President Donald Trump announced a fresh wave of tariffs on Indian goods, raising duties to 50%, among the highest imposed on any trading partner, in retaliation for India's continued oil trade with Feeds, Apex Frozen Foods and Waterbase Ltd bore the brunt of the market reaction as investors weighed the implications of heightened trade tensions. Shares of Avanti Feeds dropped 5.3% to Rs 631.80, Apex Frozen Foods slid 4% to Rs 218.80, while Waterbase Ltd declined nearly 2% to Rs tariff escalation, which builds on an earlier 25% levy imposed by the Trump administration, adds further strain to select Indian export sectors with deep exposure to the U.S. market. While only about 20% of India's goods exports, or 2% of GDP, are U.S.-bound, the impact on specific categories such as seafood, pharmaceuticals, and textiles is expected to be new tariffs will take effect in 21 days, according to the White House order, while the previously announced 25% duties are set to begin from tariff move underscores a marked deterioration in the relationship between Washington and New Delhi since the much-publicised February meeting between Trump and Prime Minister Narendra Modi. In recent weeks, Trump has publicly referred to India's economy as 'dead,' branded its trade barriers 'obnoxious,' and accused it of 'profiting' from cheap Russian oil while remaining silent on Russia's war in Ukraine, now in its fourth Ministry of External Affairs called the move 'extremely unfortunate,' and pointed out that 'many other countries are also importing Russian oil in their national economic interest.'Trade between the world's largest and fifth-largest economies is valued at over $190 billion, according to Reuters, and the latest escalation throws a spotlight on the frictions that could derail a steadily growing bilateral economic relationship.'The 21-day window for the additional 25% tariff to take effect leaves room for negotiation and an eventual deal with the US. But there is huge uncertainty surrounding the trade policy and to what extent both nations will be willing to make compromises," said Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services Vijayakumar said that 'President Trump, fresh from the successes he has extracted in deals with others including the EU, is unlikely to budge significantly from his unjustified stand. Unfortunately for India, the U.S. is bargaining from a position of strength. India's response has been mature and measured.'On the broader market outlook, Vijayakumar said, 'The market is unlikely to panic but weakness will continue in the near-term. Since uncertainty is high investors should be cautious in their approach. At least in the near-term, export-oriented sectors will remain weak. Domestic consumption themes like banking and financials, telecom, hotels, cement, capital goods and segments of automobiles will remain resilient.'A day before the announcement, the Reserve Bank of India maintained its GDP growth forecast at 6.5% for the fiscal year, signalling that policymakers are not yet factoring in a material slowdown from trade-related tensions.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
News18
27 minutes ago
- News18
With 35,333 Km In 3 Years, National Highway Push Generates 107 Crore Man-Days Of Employment
Last Updated: A man-day is a unit of measurement representing the amount of work performed by one person in a single working day, typically considered as eight hours of labour India has built an impressive 35,335 kilometres of National Highways in the past three years and the ongoing fiscal year. This infrastructure boom generated nearly 49 crore man-days of direct employment and around 58 crore man-days of indirect jobs, according to the Ministry of Road Transport and Highways (MoRTH). Union minister Nitin Gadkari informed the Rajya Sabha on Wednesday in separate replies that highway development projects are known to generate substantial direct and indirect employment opportunities across various phases such as land acquisition, construction, material supply, transportation, consultancy, and later through increased economic activity resulting from improved connectivity. 'As per a study conducted by the government through IIT Kanpur on employment creation effects of highway construction, it has been estimated that development of each lane km of a highway generates about 4,500 person days of direct employment and 5,300 person days of indirect employment," the ministry said in one of the replies. A man-day is a unit of measurement representing the amount of work performed by one person in a single working day, typically considered as eight hours of labour. A lane kilometre is a segment of roadway that is one kilometre long and one lane wide. Speaking about Bihar, the minister said it is estimated that approximately 3.16 crore person-days of direct and approximately 3.72 crore person-days of indirect employment has been generated in the last five years through the national highway projects in Bihar. In Tamil Nadu, the government has constructed 2,685 km of NHs since April 2021, with estimated 3.61 crore man-days of direct employment and 4.26 crore man-days of indirect employment apart from 42.18 crore man-days of induced employment. Gadkari also added that the infrastructure sector contributes to faster economic growth and development. 'Capex incurred on development of NHs is one of the prime mover of the economy contributing to the faster economic growth and development," he added. The government has taken up development of access-controlled National High Speed Corridors and Expressways in total 8,391 km length, out of which 5,110 km has been constructed so far. 'A total of 2,730 km length of access controlled National HSCs/Expressways has already been operationalised," he added. Gadkari informed the House that as of date, 1,240 NH projects in 29,406 km length costing Rs 7.80 lakh crore are under construction in the country. view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
News18
32 minutes ago
- News18
MALE Drones: How India's New Combat UAVs Stack Up Against The US Predator
Last Updated: Unlike the Predator drones ordered from the United States, which are expected only by 2029, the new MALE drones will be built in India with 60 per cent indigenous content India is ramping up its drone power, and this time, it's going local. The Defence Ministry has cleared a major proposal to acquire 87 armed Medium Altitude Long Endurance (MALE) drones, as part of a wider Rs 67,000 crore defence package approved by the Defence Acquisition Council. A senior official told The Times of India that the need for these drones was felt during Operation Sindoor, India's retaliatory cross-border strikes in May following the Pahalgam terror attack. Unlike the Predator drones ordered from the United States, which are expected only by 2029, the new MALE drones will be built in India with 60 per cent indigenous content and deployed much sooner. The Rs 20,000 crore drone deal signals more than just another big-ticket defence buy; it reflects a strategic shift. India is not just procuring combat drones; it is building future warfighting capabilities tailored to its evolving security challenges. Their primary utility lies in their ability to provide long-duration intelligence, surveillance and reconnaissance (ISR), while also carrying out precision strikes using guided weapons. India's interest in acquiring such drones stems from their growing role in modern conflicts, from Ukraine to Gaza, where air superiority and real-time data have become critical. MALE drones are now seen as indispensable tools in border surveillance, counter-terrorism, and conventional warfare alike. What Has The Defence Ministry Approved? On August 5, 2025, the Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, approved a Rs 67,000 crore modernisation package. Of this, around Rs 20,000 crore has been earmarked for the procurement of 87 armed MALE drones. According to a senior official quoted by TOI, 'All three armed forces need these drones, which are equipped with intelligence-surveillance-reconnaissance and weapon-carrying capability." The official also revealed that an additional Rs 11,000 crore would be allocated for logistical and OEM (Original Equipment Manufacturer) support for the next 10 years. The drones will be produced under a joint venture between Indian and foreign firms, with a minimum of 60 per cent indigenous content, in line with the government's Make in India initiative. Once inducted, they are expected to carry multiple payloads, operate across varying terrains, conduct real-time ISR missions, and deliver precision strikes, all while flying at altitudes above 35,000 feet for extended durations. Why The Urgency? Lessons From Operation Sindoor India's renewed urgency around drone procurement is directly tied to Operation Sindoor, the retaliatory cross-border strikes carried out in May against terror camps in Pakistan and PoK, following the Pahalgam terror attack. During the operation, India deployed loitering munitions and kamikaze drones to target terror infrastructure. While effective, these were single-use systems. MALE drones, unlike kamikaze drones, can return after striking, making them more cost-effective over time. The ability to loiter, gather intelligence, strike, and then reposition — all within a single mission — makes them an invaluable strategic asset. How Do These Drones Compare With Predator MQ-9Bs? India had earlier signed a deal to procure 31 MQ-9B Predator drones from the United States in a deal worth over Rs 32,000 crore. These are classified as High Altitude Long Endurance (HALE) drones and are widely used by the US military. However, delivery timelines remain long, with the first units expected no earlier than 2029 or 2030. In contrast, the indigenous MALE drones approved this month are expected to be delivered much sooner. Defence officials quoted in The Economic Times said these drones are intended to match key capabilities of the Predator while being far more cost-effective and tailored to India's unique requirements. While the Predators may offer advantages in range and satellite interoperability, India's drones will be optimised for faster integration and quicker deployment, especially along the eastern and western borders. Is India Ready To Build Armed Drones? India has already tested the waters. In January 2024, the Indian Navy and Army inducted the Drishti 10 StarLiner, a MALE drone developed through a collaboration between Adani Defence and Israeli defence firm Elbit Systems. Based on Elbit's Hermes 900 platform, the Drishti 10 can remain airborne for 36 hours, has satellite connectivity, and can carry a 450 kg payload. At the time of induction, it was reported to have 70 per cent indigenous content. The new batch of 87 drones is expected to follow a similar path, with Indian companies like HAL, Bharat Forge, L&T, Tata Advanced Systems, and Adani among the likely contenders. These projects will not only improve India's air capabilities but also help build a domestic ecosystem for high-tech military UAVs. What Else Was Cleared Under The Rs 67,000 Crore Package? The drone deal is just one part of a sweeping defence upgrade. According to ET, the DAC also cleared over 110 BrahMos air-launched missiles for the IAF's Sukhoi-30 fighters, worth around Rs 10,800 crore. The Indian Navy will receive upgraded BrahMos fire control systems and launchers for older warships, while the Barak-1 missile system will also be upgraded. The Army is set to procure thermal imager-based night sights for BMP infantry vehicles, while the Navy will acquire compact autonomous surface craft designed for anti-submarine warfare. The Air Force will benefit from specialised mountain radars and upgrades to the Israeli Spyder air defence system (called 'Saksham' in India). The package also includes long-term maintenance contracts for key platforms such as the S-400 missile system and the C-17 and C-130J aircraft fleets. Final Word top videos View all India's decision to fast-track its MALE drone programme signals a strategic pivot — from reactive acquisitions to proactive capability-building. The lessons from Operation Sindoor have underscored the need for platforms that offer persistent surveillance, precision strikes, and cross-service interoperability. With the Predator MQ-9Bs still years away, these home-built drones could become the backbone of India's ISR and strike missions in the near term. More importantly, the deal strengthens India's push for defence self-reliance not just in drones, but across a range of modern battlefield technologies. About the Author News Desk The News Desk is a team of passionate editors and writers who break and analyse the most important events unfolding in India and abroad. From live updates to exclusive reports to in-depth explainers, the Desk More Get Latest Updates on Movies, Breaking News On India, World, Live Cricket Scores, And Stock Market Updates. Also Download the News18 App to stay updated! tags : drones india Operation Sindoor US drones view comments Location : New Delhi, India, India First Published: August 07, 2025, 10:55 IST News explainers MALE Drones: How India's New Combat UAVs Stack Up Against The US Predator Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. 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