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India.com
26 minutes ago
- India.com
Trump's 50% tariffs on India! which sectors will impact? study says ‘estimated impact of…'
U.S. President Donald Trump has announced a 50% tariff on Indian goods, which will take effect from August 7. This move raised major concerns about its potential impact on the Indian economy. However, there's some good news a new report suggests the impact will be minimal. According to a study by the PHD Chamber of Commerce and Industry (PHDCCI), the tariff is expected to affect India's GDP by only 0.19%, which is almost negligible. Out of India's total exports worth $86.5 billion, only $8.1 billion around 1.87% will be affected by this move. Trump Tariffs: What PHDCCI Study Says? The paper, released by the PHD Chamber of Commerce and Industry (PHDCCI), also recommends a series of measures to mitigate the impact of US tariffs. 'Our analysis indicates that there will be an estimated impact of only 1.87 per cent on India's total global merchandise exports and a negligible 0.19 per cent on India's GDP as a result of a 25 per cent tariff announced by the US on India,' said Hemant Jain, President, PHDCCI. The study said the total potential export impact is estimated at USD 8.1 billion based on 2024-25 merchandise exports of USD 86.5 billion (1.87 per cent of India's total global export). Which Sectors Will Impact By Trump Tariffs? Among other sectors, the study said the levies would impact engineering goods (USD 1.8 billion), gems and jewellery (USD 932 million), and ready-made garments (USD 500 million). In the wake of the US tariffs, the industry body has recommended several measures, including increasing market penetration, product development and market diversification. It suggested that stakeholders should negotiate bundled-pricing deals (textiles plus accessories) to absorb some tariff cost and maintain shelf-price competitiveness. 'Leverage Indian diaspora networks (trade fairs, cultural events) to boost volume with existing buyers under current product portfolios,' it said. PHDCCI also made a strong case for investments in joint ventures with US firms to produce tariff-sensitive goods on-shore, thereby converting exports into high-value services and intellectual property (IP) licensing. (With Inputs From PTI)
Time of India
26 minutes ago
- Time of India
The Sunday Bazaar is Bengaluru's ultimate thrifting hotspot, say Maahir Mohiuddin
One sunny Sunday morning, actor Maahir Mohiuddin traded the sets for the dusty, vibrant lanes of Bengaluru's historic Sunday Bazaar. Navigating the crowded bylanes of Chikpete at 7 am, Maahir embarked on a treasure hunt through piles of forgotten artefacts and unexpected knick-knacks to see what hidden gems one of the city's oldest markets had to offer. Years ago, it was at this bazaar that he found an HMT Sagar mechanical hand-winding watch, one which had long gone out of production. 'My watches, my clothes – I find them all here. I'd say 70 per cent of my wardrobe is thrifted, and this bazaar is, hands down, one of my top places to discover those perfect finds,' he tells us. 'It's like they woke up and chose shopping' At Bengaluru's Sunday Bazaar, vendors start laying out their wares as early as 3 am. You can find practically anything here: clothes, footwear, jewellery, gardening and gym equipment, electronics, and hardware. This market, also known as Bengaluru's 'chor bazaar', is also where you might stumble upon stolen goods. As dawn breaks, Bengaluru's youth flood the narrow alleyways, grabbing an early morning coffee and breakfast before diving into some market haggling. 'People coming here at 7 am to buy clothes never fail to fascinate me. It's like, they woke up and chose shopping!' Maahir laughs. 'This is one of my favourite spots for those vintage finds' Vintage is in right now — and this is where you can find it if you have a good eye. 'For me, nothing beats finding something vintage here. This is Bengaluru's ultimate thrifting hotspot, and as someone who thrifts, this place is one of my favourites. We need to explore these spots more. Thrifting isn't just cool, it's incredibly sustainable. Everyone should embrace it.' 'Thrifting is booming, and people are flocking here for antiques to resell online at quadruple the price,' Maahir notes. 'Vendors have also become more discerning. Five years ago, you could haggle an HMT winding watch down to ₹200, but today, they're well aware of its worth.' 'Chances are these items won't function, but it's a bonus if they do' Maahir pauses at a corner where a cot lay spread on the ground, covered with an array of cassette players, bulky old recorders, scuffed record players, and stacks of well-worn vinyl. Maahir's gaze lands on a vintage vinyl record of Muqaddar Ka Sikandar. This particular find wasn't merely the songs; it featured the actual dialogue from the movie. 'Back in the day,' Maahir muses, holding the relic carefully in his hands, 'people would listen to these dialogues, get hooked, and then absolutely have to see the film. ' Of course, buying wares at the Sunday Bazaar is a gamble. While you might unearth antique table clocks—from Swiss makers to Indian household regulars—purchasing comes with a risk. You could get lucky, or you might end up with an irreparable watch due to mould. 'Pieces like the antique cameras, typewriters and telephones, available in plenty at the bazaar, often work as great showpieces once cleaned. Chances are they won't function, but it's a bonus if they do,' says Maahir. 'The trick to the Sunday Bazaar? Always show up with a blank slate' 'Every time you come here, it's interesting. When I started in theatre, helping out backstage, this very market was my hunting ground for props – things like old telephones or antique cameras, and of course, costumes. I quickly learned that if you come looking for something specific, you'll leave empty-handed. But come with a blank slate, and you'll find something crazy,' says Maahir, as he tries on an aqua-coloured jacket, a bargain find from a heap of garments, each priced between ₹50 and ₹200. What you can find at the Sunday Bazaar: l New and used clothing, shoes, bags, and jewellery l Old radios, cassette players, record players, and other gadgets l Vintage cameras, typewriters, old phones, vinyl records, clocks, and unique memorabilia l Kitchenware, tools, furniture, and decorative items l Sports gear, spare parts, and all sorts of unexpected finds A WORD TO THE WISE Keep your belongings close. A long-running joke is that if you lose something at the Sunday Bazaar, you might just be able to buy it back here the following week! Tips for shoppers: l Go early. The best finds often appear as early as 3 am, but a 7 am start is still prime time to beat the crowds l Don't look for anything specific; you'll find more treasures if you're open to surprises l Haggling is expected and encouraged l Always inspect electronics or watches for damage before buying l Keep your wallet, phone, and other belongings secure and close to your body l Carry cash. Many vendors operate on a cash-only basis
Hindustan Times
26 minutes ago
- Hindustan Times
New clause could leave BCCI out of RTI ambit
New Delhi: A proposed amendment to the newly-introduced National Sports Governance Bill 2025 being circulated among Members of Parliament could put the Board of Control for Cricket in India (BCCI) outside the purview of the Right to Information Act since it doesn't receive grants or financial assistance from the central or state governments. BCCI will have to be registered as a National Sports Federation and follow the provisions of the Bill. (Hindustan Times via Getty Images) The bill, which seeks to bring in reforms in governance of Indian sports bodies, was introduced in Lok Sabha on July 23 by Sports Minister Mansukh Mandaviya and is yet to be taken up for discussion in the House, amid a continuing stand-off over the Opposition's demand over a discussion on the Special Intensive Revision of electoral rolls in Bihar. The clause 15 (2) of the bill states, 'A recognised sports organisation shall be considered as a public authority under the Right to Information Act, 2005 with respect to the exercise of its functions, duties and powers under this Act.' A new clause that is being inserted into the bill clarifies what constitutes a public authority. 'A recognised sports organisation, receiving grants or any other financial assistance from the Central Government under sub-section (1) or from a State Government, shall be considered as a public authority under the Right to Information Act, 2005, with respect to utilisation of such grants or any other financial assistance.' HT has seen a copy of the bill. Under the RTI Act, a public authority is a body 'established, constituted, owned, controlled or substantially financed by funds provided directly or indirectly by the Central Government or the Union Territory administration, the Central Government; or by the State Government.' According to people aware of the development, 'The amendment was done just to bring the bill in line with the RTI Act, 2005. BCCI might not take financial grants from the government but they do take government assistance such as infrastructure, subsidised land, state facilities, etc.' The cash rich BCCI has long resisted being brought under the RTI Act. The powerful sports body never required government recognition as a National Sports Federation as BCCI manages its own finances. However, with cricket is now an Olympic sport as part of the 2028 Los Angeles Summer Games and the Bill is seen as part of preparatyions for making a bid to host the 2036 Games. In 2018, Chief Information Commission (CIC) held the BCCI as the public authority under RTI Act, and put in place a system of online and offline mechanisms to receive applications for information under RTI Act. The Ministry of Youth And Sports Affairs was directed to take necessary steps to ensure implementation of this order. However, BCCI filed a writ petition in the Madras high court which granted a stay order. BCCI will still have to be registered as a National Sports Federation and follow the provisions of the Bill. If the Bill becomes law, it will be the first time that BCCI will become a designated 'NSF.' BCCI will have to seek recognition from the National Sports Board (NSB) and refer its legal cases to the National Sports Tribunal, both proposed in the sports Bill. According to the Bill, the National Sports Board shall have the power to grant recognition to any sports organisation as 'National Sports Body.' The NSB can suspend or cancel recognition of the sports body or its affiliate units if the provisions of the act are violated or in case it 'failed to hold elections for its Executive Committee or has committed' or there were 'gross irregularities in the election procedures.' It can also act if the federation 'failed to publish annual audited accounts or misused, misapplied or misappropriated public funds.' The NSB shall consult the respective global governing body before taking any such decision, stated the Bill. There is another proposed amendment that states a person shall not be qualified to contest for election in a federation or seek nomination to the posts of the president, secretary general or treasurer unless previously served as a member for 'at least one full term in the executive committee of the national sports body or as the president, or the secretary general or the treasurer in its affiliate unit.' In the original Bill, the duration a person needed to serve for the top three posts was two full terms as member of the executive committee. This restrictive clause, however, doesn't apply for the Sportsperson of Outstanding Merit (SOM), according to the proposed amendment.
