In India, Trump's tariffs spark calls to boycott American goods

4 days ago

NEW DELHI: From McDonald's and Coca-Cola to Amazon and Apple, US-based multinationals are facing calls for a boycott in India as business executives and Prime Minister Narendra Modi's supporters stoke anti-American sentiment to protest against US tariffs.India, the world's most populous nation, is a key market for American brands that have rapidly expanded to target a growing base of affluent consumers, many of whom remain infatuated with international labels seen as symbols of moving up in life. India, for example, is the biggest market by users for Meta's WhatsApp and Domino's has more restaurants than any other brand in the country. Beverages like Pepsi and Coca-Cola often dominate store shelves, and people still queue up when a new Apple store opens or a Starbucks cafe doles out discounts. Although there was no immediate indication of sales being hit, there's a growing chorus both on social media and offline to buy local and ditch American products after Donald Trump imposed a 50 percent tariff on goods from India, rattling exporters and damaging ties between New Delhi and Washington.McDonald's, Coca-Cola, Amazon and Apple did not immediately respond to Reuters queries.Manish Chowdhary, co-founder of India's Wow Skin Science, took to LinkedIn with a video message urging support for farmers and startups to make 'Made in India' a 'global obsession,' and to learn from South Korea whose food and beauty products are famous worldwide.'We have lined up for products from thousands of miles away. We have proudly spent on brands that we don't own, while our own makers fight for attention in their own country,' he said.Rahm Shastry, CEO of India's DriveU, which provides a car driver on call service, wrote on LinkedIn: 'India should have its own home-grown Twitter/Google/YouTube/WhatsApp/FB — like China has.' To be fair, Indian retail companies give foreign brands like Starbucks stiff competition in the domestic market, but going global has been a challenge. Indian IT services firms, however, have become deeply entrenched in the global economy, with the likes of TCS and Infosys providing software solutions to clients world over.On Sunday, Modi made a 'special appeal' for becoming self-reliant, telling a gathering in Bengaluru that Indian technology companies made products for the world but 'now is the time for us to give more priority to India's needs.'He did not name any company.Even as anti-American protests simmer, Tesla launched its second showroom in India in New Delhi, with Monday's opening attended by Indian commerce ministry officials and US embassy officials.The Swadeshi Jagran Manch group, which is linked to Modi's Bharatiya Janata Party, took out small public rallies across India on Sunday, urging people to boycott American brands.'People are now looking at Indian products. It will take some time to fructify,' Ashwani MaHajjan, the group's co-convenor, told Reuters. 'This is a call for nationalism, patriotism.'He also shared with Reuters a table his group is circulating on WhatsApp, listing Indian brands of bath soaps, toothpaste and cold drinks that people could choose over foreign ones.On social media, one of the group's campaigns is a graphic titled 'Boycott foreign food chains,' with logos of McDonald's and many other restaurant brands.In Uttar Pradesh, Rajat Gupta, 37, who was dining at a McDonald's in Lucknow on Monday, said he wasn't concerned about the tariff protests and simply enjoyed the 49-rupee ($0.55) coffee he considered good value for money.'Tariffs are a matter of diplomacy and my McPuff, coffee should not be dragged into it,' he said.

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Indian missions in Riyadh, Jeddah celebrate Independence Day with patriotic fervor

Arab News

an hour ago

Arab News

Indian missions in Riyadh, Jeddah celebrate Independence Day with patriotic fervor

RIYADH: The Embassy of India in Riyadh and the Consulate General in Jeddah celebrated India's 79th Independence Day on Friday with great enthusiasm and active participation from the Indian community, local dignitaries, and friends of India. Independence Day was celebrated by the embassy in Riyadh with the enthusiastic participation of about 1,000 people, including members of the Indian community, embassy officials, and journalists. The celebrations began with the hoisting of the tricolour by Dr. Suhel Ajaz Khan, the ambassador, followed by the national anthem. The ambassador lay floral tributes at the bust of father of the nation, Mahatma Gandhi, then read out President Droupadi Murmu's message to the nation and Indians around the world. In his keynote address, the ambassador highlighted the close bilateral partnership between India and Saudi Arabia and the significant role played by the Indian diaspora in making this relationship vibrant and robust. It was followed by cultural performances by Indian community members, displaying the rich diversity of India. The cultural program was an eclectic mix of patriotic songs and classical dance performances. In the run-up to Independence Day, embassy officials, their families and Indian community members took part in the 'Har Ghar Tiranga' initiative, displaying their patriotic spirit and pride in the national flag. At the Indian Consulate in Jeddah the ceremony began with the hoisting of the national flag by Consul General Fahad Ahmed Khan Suri followed by the national anthem, with the consul general reading the president's address to the nation, which highlighted India's accomplishments over the past 78 years and outlined the country's vision. The consul general highlighted the growing partnership with Saudi Arabia and commended the Indian diaspora in the Western Province for their pivotal role in fostering stronger ties and contributing positively to both countries. He also provided updates on the consulate's key initiatives and urged the diaspora to continue their active engagement in advancing these efforts. The celebration featured a cultural program including patriotic songs performed by students from Indian schools in Jeddah that evoked pride, unity, and respect for the county's history and cultural heritage. A highlight of the event was the Tiranga Exhibition, organized as part of the government of India's 'Har Ghar Tiranga' campaign. The exhibition included historical images, creative displays, and information about the Indian national flag — promoting awareness, respect, and national pride among attendees. The event concluded with a display of regional Indian cuisines, giving guests a flavourful glimpse into India's rich and diverse food heritage. Each dish, representing different states, highlighted the country's remarkable cultural diversity and unity.

Trump says semiconductor tariffs coming soon

Al Arabiya

2 hours ago

Al Arabiya

Trump says semiconductor tariffs coming soon

US President Donald Trump said Friday he plans to announce tariffs on steel and semiconductors in the coming weeks. 'I'll be setting tariffs next week and the week after, on steel and, I would say, chips. Chips and semiconductors, we'll be setting sometime next week, the week after,' Trump said onboard Air Force One as he headed to Alaska for a summit with Russian President Vladimir Putin. Trump said the levy rate would be 'lower at the beginning' but 'very high after a certain period of time,' as a way to encourage businesses to relocate operations to the United States. The president said his policy would prompt companies in key industries like automobiles and artificial intelligence to relocate in order to 'beat the tariffs,' which could be 200 or 300 percent. Trump has also said he would employ this strategy with pharmaceuticals. On August 6, Trump announced a 100 percent tariff on semiconductors from firms that do not invest in the United States. Trump has already instituted tariffs on steel, announcing an initial 25 percent levy that was later doubled to 50 percent.

Pakistan signs financial advisory deal to privatize state-owned agricultural bank

Arab News

3 hours ago

Arab News

Pakistan signs financial advisory deal to privatize state-owned agricultural bank

ISLAMABAD: Pakistan has signed a financial advisory services agreement to begin the strategic privatization of Zarai Taraqiati Bank Limited (ZTBL), the country's largest state-owned agricultural lender, the privatization commission said on Friday. The move comes as Islamabad faces pressure to privatize loss-making or under-performing state-owned enterprises under International Monetary Fund loan agreements in recent years. The government expects the sell-off drive to improve efficiency by putting such entities under competitive, corporate management. ZTBL's privatization comes at a time when Pakistan is striving to bolster food security in the face of extreme climate patterns by modernizing agricultural finance, helping farmers adopt new technologies and practices critical for boosting yields and resilience. 'The privatization of ZTBL is designed to catalyze investment in Pakistan's agricultural future by combining private sector efficiency with the bank's long-standing expertise in agricultural finance,' the commission said in a statement. 'The goal is to ensure farmers have timely access to essential financial resources.' It signed the financial advisory services agreement with a consortium led by Next Capital Limited. ZTBL operates a network of more than 500 branches nationwide, providing credit to small farmers and rural communities. Officials said private investment was expected to expand the bank's product range, introduce modern banking technologies, improve governance and strengthen customer service. Under the newly signed agreement, advisers will conduct due diligence, market sounding and investor engagement, as well as structure and market the transaction and assist in a transparent bidding process.