Explained: Why does Punjab's water still flow to Pakistan
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Mint
28 minutes ago
- Mint
3,00,000 jobs at risk? Experts say THESE sectors likely to get impacted due to Trump tariffs on India
There are concerns among experts that increased tariffs announced by President Donald Trump on Indian imports into the United States, will have a negative impact on jobs in the affected sectors, PTI reported. According RP Yadav, founder and CMD of workforce solutions and HR services provider Genius HRTech, the hiked US tariffs are expected to significantly impact India's employment landscape in industries heavily dependent on the US market for growth and continuity. Sectors such as agriculture, auto components, gems and jewellery, and textiles are likely to be among the worst impacted, as per Yadav. He added that even within these sectors, it is the micro, small and medium enterprises (MSMEs) who will bear the brunt. Yadav estimates that between 2,00,000 to 3,00,000 jobs are at immediate risk. Further, the labour-intensive textiles industry alone could potentially lose 1,00,000 jobs, if the tariff regime continues beyond the next six months, he added. He added that in the gem and jewellery sector, including units in Surat and SEEPZ in Mumbai, 'thousands of jobs are at risk due to reduced demand and cost escalation in the US market', he added. However, not all agree. Balasubramanian Anantha Narayanan, Senior VP at TeamLease Services, feels that unlike China, India is largely a domestic consumption driven economy. Thus, any impact from the US tariffs would not impact jobs. 'At this point in time, we aren't seeing any signs of a slowdown or loss of jobs. This also by extension means that our jobs are largely in service of domestic demand too, with the exception of some sectors like ITeS among others,' Narayanan said. He added, 'Our exports to the USA are $87 billion, which is roughly about 2.2 per cent of our overall GDP. Largely pharma, electronics etc. won't be affected for now, which will further limit the export exposure to industries such as textiles, gems and jewellery among others.' Further, Narayanan noted that the full 50 per cent tariff hike comes into effect later this month on August 27, and it is possible that some negotiations could happen before that. He added that positives from the recently announced free trade agreement (FTA) with the UK and other countries, could possibly make way for the redirection of Indian goods, rather than a complete shut down of the exports. 'Even if these US tariffs do come about, we'll definitely figure out a way of redirecting or diversifying our trade to other markets. Therefore, at this point in time, we aren't seeing any signs of a slowdown or loss of jobs. It's an evolving situation and we'll get to know more in due course of time,' he feels. Aditya Mishra, MD and CEO of CIEL HR also feels that while the US tariff scenario is unsettling for Indian exporters, especially those in the auto components, electronics, engineering goods, footwear, gems and jewellery, leather, shrimp, and textiles, widespread layoffs appear unlikely at this stage. 'Companies are already in cost-containment mode, reducing discretionary spending, streamlining production, and freezing hiring. The immediate pressure will be on temporary and contract roles, particularly shop-floor workers, artisans, sales and logistics staff, and some mid-level managers in export-led units. This will have a cascading effect on thousands of MSMEs in the supply chain, which collectively account for a large share of employment,' Mishra felt.
Deccan Herald
28 minutes ago
- Deccan Herald
Pakistani Minister repeats claim without evidence on downing Indian jets
India's Chief of Defence Staff Gen Anil Chauhan, speaking in Singapore on May 31, had flatly rejected as "absolutely incorrect" Pakistan's claim of bringing down six Indian jets.
India Today
an hour ago
- India Today
Who is CP Radhakrishnan, NDA's pick for Vice President
The BJP-led NDA on Sunday named Maharashtra Governor CP Radhakrishnan as its nominee for the upcoming Vice Presidential election. The announcement followed a meeting of the Bharatiya Janata Party parliamentary board, attended by senior leaders including Prime Minister Narendra Modi and Union Home Minister Amit announcement was made by BJP national president and Union Minister JP Nadda, following the sudden resignation of Vice President Jagdeep Dhankhar on July 21 due to health reasons. Dhankhar, 74, stepped down two years into his term, which began in August 2022. advertisementWHO IS CP RADHAKRISHNAN?Chandrapuram Ponnusamy Radhakrishnan took oath as the Governor of Maharashtra on July 31, 2024. Prior to this, he served as the Governor of Jharkhand for about one and a half years, according to the Maharashtra Raj Bhavan website. During his time in Jharkhand, he was also given additional charge as the Governor of Telangana and Lieutenant Governor of Puducherry by the President of India. CP Radhakrishnan has more than four decades of experience in public life and politics in Tamil Nadu. He was born on 20 October 1957 in Tamil Nadu's Tiruppur and completed his Bachelor's degree in Business began his public life as a volunteer of the Rashtriya Swayamsevak Sangh (RSS). In 1974, he became a State Executive Committee member of the Bharatiya Jan Sangh in Tamil Nadu. In 1996, Radhakrishnan was appointed Secretary of the Bharatiya Janata Party (BJP) in Tamil Nadu. Radhakrishnan served two terms as Lok Sabha MP from Coimbatore in 1998 and 1999. During his tenure, he chaired the Parliamentary Standing Committee on Textiles and was a member of the committees on Public Sector Undertakings and was also part of a parliamentary delegation to the UN General Assembly (2004) and the first Indian delegation to Taiwan. Before becoming the Governor of Jharkhand, he served as the BJP State President in Tamil Nadu from 2004 to 2007. During this time, he led a 93-day, 19,000-km Ratha Yatra, focused on interlinking rivers, removing untouchability, implementing a uniform civil code, fighting terrorism and addressing drug issues. Radhakrishnan played a key role in public administration during his tenure as Chairman of the Coir Board from 2016 to 2020, overseeing record export figures that reached Rs 2,532 crore. From 2020 to 2022, he was the All India in Charge of BJP for has maintained a long-standing interest in sports. During his college years, he was a champion in table tennis and long-distance running. He also actively participated in cricket and volleyball.- EndsMust Watch
