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Economic Times
11 hours ago
- Economic Times
Indian seafood industry stares at Rs 24,000-crore loss as Trump doubles India tariffs
Synopsis The Indian seafood export industry faces a potential loss of Rs 24,000 crore due to the US doubling tariffs to 50%. This move puts India at a significant disadvantage compared to competitors like Ecuador, impacting exporters and potentially farmers. The industry, heavily reliant on the US market, is seeking government support and exploring alternative markets to mitigate the effects. AP India seafood industry (Image for representation) The Indian seafood export industry is staring at a business loss opportunity of almost Rs 24,000 crore to the US due to the country's doubling of existing tariff to 50% on India. 'We are shocked. This is a doomsday for the seafood industry. It will have an effect on the farmers too,' said Pawan Kumar G, president, Seafood Exporters Association of India. 'We will need hand holding by the government,' he said. Ecuador, India's closest competitor for seafood exports, which is geographically closest to the US, will pay only 10% import duty in the US market, while Indonesia will pay 19% and Vietnam pay 20%. The US accounts for almost 40% of the total Indian seafood exports of Rs 60,000 crore. India mainly exports shrimps to the exporter from the west coast of India said as the industry has about 15% of annual sales as inventory at any given time, the exporters will face losses on this Indian industry employs an estimated 20 million people. As the seeding season for next harvest is currently underway, the industry fears that farmers may stop seeding operations. Executives said a lot will depend on how big buyers like Walmart and Costco negotiate with Indian exporters and how much margins they can pass. 'If this high US tariff continues where India is at disadvantage, Indian seafood exporters will have to make inroads into other markets,' another exporter said.
Time of India
11 hours ago
- Time of India
Indian seafood industry stares at Rs 24,000-crore loss as Trump doubles India tariffs
The Indian seafood export industry is staring at a business loss opportunity of almost Rs 24,000 crore to the US due to the country's doubling of existing tariff to 50% on India. 'We are shocked. This is a doomsday for the seafood industry . It will have an effect on the farmers too,' said Pawan Kumar G, president, Seafood Exporters Association of India. 'We will need hand holding by the government,' he said. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program Ecuador, India's closest competitor for seafood exports, which is geographically closest to the US, will pay only 10% import duty in the US market, while Indonesia will pay 19% and Vietnam pay 20%. The US accounts for almost 40% of the total Indian seafood exports of Rs 60,000 crore. India mainly exports shrimps to the US. An exporter from the west coast of India said as the industry has about 15% of annual sales as inventory at any given time, the exporters will face losses on this volume. The Indian industry employs an estimated 20 million people. As the seeding season for next harvest is currently underway, the industry fears that farmers may stop seeding operations. Live Events Executives said a lot will depend on how big buyers like Walmart and Costco negotiate with Indian exporters and how much margins they can pass. 'If this high US tariff continues where India is at disadvantage, Indian seafood exporters will have to make inroads into other markets,' another exporter said.
Time of India
13 hours ago
- Time of India
Walmart HR head reveals what she considers important while hiring: ‘I like people who…'
Walmart 's chief people officer Donna Morris says job seekers should avoid being constantly negative if they want to grow in their careers. In a recent interview with CNBC Make It, Morris explained that being a ' Debbie Downer ' is a red flag for managers. A 'Debbie Downer' is a person who is always negative, pessimistic, or critical, especially in situations where others are trying to be positive or hopeful. During the interview, Donna Morris said: 'Nobody wants [to hire] a Debbie Downer', adding that this kind of person is 'constantly negative. You know they're going to show up [and] they're going to bring the problem, never the solution. I like people who bring the problem and a suggestion for how they might resolve [it.]' Morris explained that this kind of attitude can lead to being left out of new projects or growth opportunities. She added that constant naysaying is a warning sign managers watch out for. However, Morris clarified that people should not fake positivity. It's unnatural and unrealistic for someone to be happy all the time, she said. But if someone is always negative, it could be a sign that they are in the wrong job or company. 3 characteristics that Walmart HR head believes help employees succeed Donna Morris shared that successful employees stand out by doing three key things differently. First, they consistently deliver results on time, or even earlier than expected. 'You're better to deliver early than to deliver late, and you're better to deliver more than less,' she said. Second, they are proactive and raise their hands to take on new tasks. Bringing problems with possible solutions or asking for help before situations get worse is another positive trait. ''Another green flag is they're open to opportunities, and they put their hand up to take on more. Or they bring a problem with the remedy or request help in a timely manner, as opposed to the house is on fire.' Finally, Morris said that mentoring others and sharing knowledge are strong 'green flags' for employees who want to get ahead. 'People who you see are actually helping others [are a] total green flag,' she said. Apple Confirms: Majority of iPhones Sold in US Are Now Made in India AI Masterclass for Students. Upskill Young Ones Today!– Join Now
