Oben to foray into 100-cc motorcycle segment
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Electric motorcycle maker Oben on Wednesday announced plans to foray into the 100-cc motorcycle segment under a new platform. The new platform named as O100 will produce the 100 cc and equivalent sub-Rs 1 lakh motorcycles, which are expected to be rolled out by the second half this calendar year, to cater to the mass commuter base, Oben Electric said.This segment accounts for nearly 30 per cent of the total two-wheeler market, it said.Oben's first motorcycle platform, ARX, churns out the performance-centric Rorr and Rorr EZ models of e-motorcycles that cater to the premium commuter segment.With scalability at its core, enabling faster product iterations and manufacturing ramp-up, the platform allows Oben Electric to deliver high-quality electric motorcycles that cater to a wide range of commuter needs.With a modular and versatile architecture, O100 supports multiple variants, different battery options, and functionalities tailored to different customer segments, it said, adding that with future-ready by design, the platform also allows seamless integration of emerging technologies and infrastructure upgrades, making it a robust foundation for long-term EV adoption in India's most cost-sensitive segments."Our new platform, O100 is engineered for India's mass daily commuters and aims to make electric motorcycles a practical reality for every Indian," Oben Electric Founder and CEO Madhumita Agrawal said.Oben Electric also said it is rapidly expanding its presence across Tier I/II/III cities and looking to cross 100+ showrooms by the end of the year.
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Indian Express
8 minutes ago
- Indian Express
Knitwear to apparel, Tamil Nadu's textile belt starts feeling US's 50% tariff heat
IN TIRUPPUR, India's knitwear capital, exporters are already feeling the heat of the 50 per cent tariff US President Donald Trump announced Wednesday. They say orders are being paused, redirected, or lost entirely to competitors like Bangladesh, Pakistan, Vietnam, and Cambodia, all of whom lower US tariffs ranging between 19% and 36%. One Tiruppur exporter told The Indian Express that his regular US shipment had already been diverted to Pakistan. Another said his American buyer asked him to 'hold on' before confirming their summer order. A third revealed that buyers were previously demanding that exporters absorb the 25% tariff hike — a burden that has now doubled overnight. The revised duties, including baseline and remedy-linked tariffs, now push effective rates for some knitted garments to as high as 64%, rendering products up to 35% more expensive than those from regional competitors. What was initially seen as a major setback is now viewed by exporters as 'a de facto trade embargo'. The blow comes at a particularly cruel time when Tamil Nadu's textile belt was preparing for a rebound in US orders. Tiruppur, Coimbatore, and Karur collectively employ over 1.25 million workers and export Rs 45,000 crore worth of garments annually. Just weeks ago, optimism surged on the back of the India–UK Free Trade Agreement (FTA) and growing US interest in Indian goods due to elevated tariffs on China (125%-145%) and Myanmar (40%). Many exporters in Tamil Nadu had invested in new machinery to meet the expected surge. That hope is now turning into despair under the weight of retaliatory tariffs, especially with respect to China, which is now at 30% and could see a further downward revision once Beijing inks a deal with Washington DC. 'This is a setback,' said K M Subramanian, president of the Tiruppur Exporters' Association (TEA). 'Standalone exporting companies will be hit first. Buyers are already asking us to absorb part of the tariff. Our margins are just 5% to 7%; how can we share this cost?' Subramanian said while 30% of Tiruppur's exports go to the US, a diverse buyer base in Europe and the Middle East may provide some cushion – but not without pain. 'The non-branded buyers will shift immediately. Branded ones may stay because of the social compliance and operating protocols we offer, but we will still bleed for some time.' Textiles is a labour-intensive sector, and there are worries of job losses if the market shrinks. If exports contract 10-20% due to loss of orders, it can threaten 100,000–200,000 textile and garment jobs collectively in the three hubs — Tiruppur, Karur and Coimbatore — over the next few months. Tiruppur alone contributes Rs 40,000 crore to knitwear exports, supplying global giants like Walmart, GAP, and Costco, and accounting for 55% of the country's knitwear exports. The region had hoped to expand it by 10–15% in FY2025–26. Now, the outlook is grim, with analysts forecasting a 40–50% fall in US-bound orders, especially in cotton and knitted apparel segments. The fallout is not confined to garments alone. In Coimbatore and Karur, known for home textiles, order stagnation has already begun. K Selvaraju, secretary general of the Southern India Mills' Association, said buyers have started deferring or holding off on their summer bookings for bed linens and towels – key products traditionally finalised by October. 'We're hearing 'hold on' from clients who had placed advance enquiries,' Selvaraju said. 'If we miss this window, we miss the season.' Karur alone exports nearly Rs 9,000 crore in home textiles each year, with Rs 6,900 crore going as direct exports. Coimbatore mills send large volumes of cotton towels and kitchen linens to the US – now burdened with higher duties. 'This isn't just about one tariff hike – its compounding an already weak environment,' Selvaraju said, pointing to India's 11% import duty on cotton and a GST duty inversion that further hurts competitiveness. 'Polyester raw material is taxed at 18%, yarn at 12%, but finished garments are taxed at 5%. This adds 6-7% to export costs, while competitors don't have such inverted duties.' Meanwhile, the quality of cotton imports from Brazil, which make up 45% of this year's inbound shipments, is under scrutiny for not always meeting US-mandated standards. Selvaraju has urged the Centre to negotiate a cotton-forward deal, offering duty-free access to US cotton in exchange for apparel exports made from it. The global textiles market is highly competitive; India's key rivals face no such punitive hikes. Bangladesh continues with an effective rate of 35–36%, Pakistan has successfully negotiated a 19% tariff, Vietnam is at 20–21%, and Cambodia, though previously at 49%, now enjoys a 19% rate after an August 1 revision. By comparison, India's 50% penalty rate is not only isolated but unprecedented. One Tiruppur manufacturer admitted his shipment was lost to Pakistan. 'They seem to have offered a better price,' he said. 'The order slipped.' Subramanian reiterated that Bangladesh remains India's fiercest rival in the US market. 'Their 20% rate means they're much cheaper, significant when your margin is about 5%.' This margin has now all but vanished. With total duties touching 64%, non-branded US buyers are already shifting to cheaper options. 'They shift overnight,' Subramanian warned. Industry leaders are urging for immediate policy relief. 'The government had then provided an extended credit guarantee-linked scheme,' Selvaraju recalled, referring to pandemic-era support. 'It's time to bring that back.' He also pressed for eliminating the 11% cotton import duty and restructuring the GST regime on manmade fibres. 'For our exports to remain viable, tax on all raw materials must be below 5%.' If ignored, the consequences will be stark. Indian suppliers could lose permanent ground to Bangladesh, Cambodia as well as Vietnam and Pakistan – all of whom now enjoy cheaper landed prices in the US. The ripple effect – order shrinkage, idle capacity, and job losses – is already underway. 'The US market still wants to buy from us,' Selvaraju said. 'They like Indian cotton, the Indian make. But political and policy hurdles are pushing them away.' Ramdas, a mid-sized factory owner in Tiruppur, said the next two to three weeks will be decisive. 'We haven't seen cancellations yet, but the tone is changing. Everyone's cautious.' Yet, there is cautious hope. Subramanian believes this downturn could still be survived if India moves quickly. 'We got through Covid. We will get through this,' he said. 'We are talking to the Central government. We are urging negotiations with the US.' Some exporters also hope that pressure from big American brands – worried about higher retail prices – might eventually force a rethink in Washington.
Hindustan Times
8 minutes ago
- Hindustan Times
India plans tariff response to US over steel, aluminium levy
India may slap tariff countermeasures on select American commodities, a retaliation to Washington's move to impose a steep 50% duty in June on steel, aluminium and their derivatives from India, people aware of the matter have said. India plans tariff response to US over steel, aluminium levy To be sure, the levies on steel and aluminium have played out as a parallel trade dispute at the World Trade Organization, but its timing would make it the first Indian retaliation since Trump's July 31 announcement of the 25% tariff on all Indian goods entering the US when trade talks failed to reach a breakthrough and his subsequent penalties over Russian oil purchases announced on August 6. According to people aware of the matter, India has prepared legal grounds for the retaliatory action on steel and aluminium under World Trade Organization rules after the US rejected New Delhi's request for consultations over what India considers WTO-non-compliant safeguard measures disguised as national security actions. 'Washington is unwilling to address New Delhi's concerns through talks, which leaves India with little option other than to retaliate,' one person said. The steel and aluminium dispute dates back to February when the Trump administration imposed 25% tariffs on the metals, later doubling them to 50% in June. New Delhi intimated the WTO about the dispute and India's rights to take proportionate action on May 9 after at least $7.6 billion worth of Indian exports to the US were affected by the duties. 'The US is unjustly acting against India's economic interests even as the two countries are negotiating a bilateral trade agreement. India reserves the right to respond to unilateral and unreasonable actions of the US,' a second person said, adding that the beginning of the retaliation could be made with a 'proportional response to the US imposition of 50% tariff on Indian steel, aluminium and their derivatives'. America exports over $45 billion worth of merchandise to the Indian market, while India – prior to the Trump administration's wide variety of tariffs –exported $86 billion worth merchandise to US. How this balance changes is uncertain. Between February — when President Trump and Prime Minister Narendra Modi resolved to expand bilateral trade to $500 billion and launch comprehensive trade negotiations — and the last two weeks, when Trump announced Indian exports will be slapped with 50% levy from August 28, the journey has been turbulent. The trade talks stalled, primarily over US seeking unfettered market access to economically sensitive sectors that New Delhi steadfastly refused, before appearing to be beset by the controversy around Russian oil purchases. 'These unilateral, unjustified and unreasonable actions of the Trump administration raise doubt about its intent to have a fair, balanced and mutually beneficial bilateral trade agreement,' another person said. The escalating tariffs have effectively undermined bilateral trade negotiations, with India arguing that arm-twisting tactics make fair negotiations impossible. According to one of the people cited above, what has affected the retaliation calculus was Trump's comments on Thursday, when he rejected stepping up trade negotiations with India. 'No, not until we get it resolved,' the president said at the Oval Office when asked about increased trade talks. The broader trade relationship includes America's $13.62 billion in energy exports to India in 2024-25, plus significant trade in electronics, chemicals, and other goods, highlighting the scale of economic interdependence between the two countries. The US also maintains a services trade surplus with India of $102 million in 2024, with total bilateral services trade reaching $83.4 billion. US services exports to India totalled $41.8 billion, up 15.9% from 2023, while imports reached $41.6 billion, up 15.4%.
Hindustan Times
8 minutes ago
- Hindustan Times
India welcomes meet between Trump, Putin
New Delhi India on Saturday welcomed a planned meeting between US President Donald Trump and his Russian counterpart Vladimir Putin to discuss the war in Ukraine and said it would support all efforts aimed at ending the conflict. India welcomes meet between Trump, Putin External affairs ministry spokesperson Randhir Jaiswal announced India's endorsement of the upcoming Russia-US Summit after Trump said on social media that he would meet Putin in Alaska on August 15. India welcomes the understanding between the US and Russia for the meeting in Alaska since it 'holds the promise of bringing to an end the ongoing conflict in Ukraine and opening up the prospects for peace', Jaiswal said. Jaiswal reiterated Prime Minister Narendra Modi's assertion in the context of the Russia-Ukraine conflict that 'this is not an era of war', and said: 'India, therefore, endorses the upcoming summit meeting and stands ready to support these efforts.' Modi has called for an end to hostilities and a return to the path of dialogue and diplomacy in his engagements with Putin and Ukrainian President Volodymyr Zelensky since the start of Russia's invasion of Ukraine in February 2022. He made separate visits to Russia and Ukraine last year and urged the two leaders to return to negotiations to find a peaceful solution. He also said that talks cannot succeed under the shadow of the gun and a solution cannot be found on the battlefield. India has never publicly censured Russia's actions or participated in international efforts aimed at ending the conflict. Indian officials have said that New Delhi has played a role in passing messages between Moscow and Kyiv. Trump's announcement about the meeting with the Russian President came shortly after a phone conversation on Friday between Modi and Putin, who briefed the Indian leader on the latest developments related to Ukraine. In recent days, India has faced fresh pressure from Trump over its continuing purchases of Russian oil. Trump slapped a 25% tariff on India over Russian oil purchases, which was in addition to a 25% reciprocal tariff that came into effect on Thursday. Trump has contended that India is profiting by selling much of its Russian oil purchases on the open market, and also financing Russia's war machine. India has accused the US and the European Union (EU) of adopting double standards on sanctions and said it will take all necessary steps to protect its national interests. Uncertainties remain about the planned talks between Trump and Putin, especially after reports in the American media that the US is trying to persuade European leaders to accept an agreement that will include Russia occupying the Donbas region in eastern Ukraine and keeping Crimea, while giving up Kherson and Zaporizhzhia, which it partially occupies. On the other hand, Zelensky has said any solution must include Ukraine and that 'Ukrainians will not gift their land to the occupier'. He also said he is ready to work with all partners for a 'lasting peace'. Trump indicated on Friday that Ukraine may have to cede territory to end the war. 'It's very complicated. We're going to get some [territory] back, we're going to get some switched. There will be some swapping of territories, to the betterment of both,' he said. It is still not clear if Ukraine and its European allies will agree to such a deal, and Zelensky said on social media on Saturday: 'We are ready to work together with President Trump, together with all our partners for real, and most importantly, lasting peace. A peace that will not collapse because of Moscow's desires.'
