No addl tariffs by US on Indian pharma, electronics: Centre
It is estimated that around 55 per cent of the total value of India's merchandise exports to the US is subjected to this reciprocal tariff, he said, adding that additional ad valorem rate of duty of 25 per cent with effect from August 27 has been imposed on certain goods exported from India.
'No additional tariffs have been imposed on Indian exports to the US in sectors like pharmaceuticals, and electronics as yet,' Prasada said. He also said the government is engaged with all stakeholders, including exporters and industry, for taking feedback of their assessment of the impact from the reciprocal tariffs imposed by the US.
'The government attaches utmost importance to protecting and promoting welfare of farmers, workers, entrepreneurs, exporters, MSMEs and all sections of industry,' Prasada said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
22 minutes ago
- Economic Times
Cisco projects upbeat quarterly revenue as AI fuels networking equipment demand
Reuters Cisco Systems forecast first-quarter revenue above Wall Street estimates on Wednesday, as the artificial intelligence boom boosted demand for its networking equipment from cloud customers. Hyperscale cloud investments are healthy and driving IT infrastructure financing, which sets up a good backdrop for Cisco. "Within the enterprise spending environment, there is incremental spending to beef up the infrastructure to accommodate AI, so that could potentially be another growth driver, especially with Cisco having such a big presence in the traditional enterprise market," Edward Jones analyst David Heger said. Big tech firms such as Microsoft, Amazon and Alphabet are ramping up spending to ease capacity shortages that have limited their ability to meet AI demand, even after several quarters of multi-billion-dollar outlays. Cisco's AI infrastructure orders exceeded $800 million in the fourth quarter, bringing the total for fiscal 2025 to over $2 billion, more than double its original target, CEO Chuck Robbins said on a post-earnings call. The company has not seen any pull-forward in demand for products, but did note a small impact from tariffs in the quarter and during the fiscal year, he added. "We expect the sovereign AI opportunity to build momentum in the second half of fiscal 2026. Cisco will be a core system provider for these significant AI training and inference cluster build outs and integral to their development and eventual hyperscaling." Cisco has partnered with Humain, Saudi Arabia's state-backed AI company, and it will provide digital solutions for Bahrain's government information and telecommunications infrastructure. The company expects revenue to be between $14.65 billion and $14.85 billion for the first quarter, compared with analysts' average estimate of $14.62 billion, according to data compiled by LSEG. Its revenue for the fourth quarter ended July 26 came in at $14.67 billion, compared with estimates of $14.62 billion. Networking product orders grew in the double digits during the quarter, driven by webscale infrastructure, switching, enterprise routing, industrial IoT and servers. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Tariffs, tantrums, and tech: How Trump's trade drama is keeping Indian IT on tenterhooks Good, bad, ugly: How will higher ethanol in petrol play out for you? As big fat Indian wedding slims to budget, Manyavar loses lustre As 50% US tariff looms, 6 key steps that can safeguard Indian economy Stock Radar: JSPL forms Ascending Triangle pattern on weekly charts, could hit fresh 52-week high soon Nifty and business are different species: 5 small-cap stocks from different sectors with upside potential of up to 30% F&O Radar | Deploy Bear Put Spread in Nifty to play index's negative stance amid volatility Wealth creation: Look beyond the obvious in some things; 10 fertilizer sector companies worth watching
Scroll.in
24 minutes ago
- Scroll.in
India took ‘minimal credible steps' to stop human rights abuses: US government report
India took ' minimal credible steps ' to identify and punish officials who committed human rights abuses, the United States government said in a report on Tuesday. The US State Department's Bureau of Democracy, Human Rights and Labor said in its 2024 country report that significant human rights problems in India included credible reports of arbitrary or unlawful killings, disappearances, torture or cruel, inhuman or degrading treatment or punishment. The Indian government is yet to comment on the report. The report also flagged arbitrary arrests or detentions, transnational repression against persons from another country, serious abuses in a conflict, unlawful recruitment or use of children in armed conflict by Maoist groups, and instances of coerced abortion or forced sterilisation. There were 'serious restrictions' on the freedom of expression and press freedom, including violence or threats of violence against journalists, unjustified arrests or prosecutions of journalists and censorship. The report added that the ethnic conflict in Manipur had continued to result in human rights abuses in 2024. The armed forces of the Union government 'maintained a buffer zone between the two factions, but media reported there was continued conflict' with 48 civilian deaths as of October 29 [2024], said the US State Department. The ethnic clashes between the Meitei and the Kuki-Zo-Hmar communities started in May 2023. At least 260 persons have been killed and more than 59,000 persons displaced since the violence broke out. There were periodic upticks in violence in 2024. President's Rule was imposed in the state on February 13, four days after Bharatiya Janata Party leader N Biren Singh resigned as the chief minister. The police used stun guns and fired tear gas shells to disperse student-led protests criticising the government's failure to resolve the conflict in Manipur, the US report noted. The report also noted that incidents of terrorism had led to the deaths of security personnel and civilians in Jammu and Kashmir, the North East and the areas affected by the Maoist insurgency. There were reports of communal violence. Authorities investigated and prosecuted terrorism-related abuses.
Mint
24 minutes ago
- Mint
BSE SME stock Nisus Finance jumps after Q1 results 2025. Check details
Shares of BSE SME-listed Nisus Finance Services Co. Ltd (NiFCO) gained nearly 2 percent on Thursday, August 14, hitting an intraday high of ₹ 384 after the company reported strong financial results for the quarter ended June 2025 (Q1FY26). The performance reflected sharp year-on-year growth across revenue, profit, and margins, reinforcing investor confidence in the company's strategic direction. The stock has risen 8 percent so far in August after an almost 27 percent rise in July. Before that, it was in the red for 5 straight months between February and June. It shed 14.5 percent in June, 5.75 percent in May, 3.11 percent in April, 14 percent in March, and 11.6 percent in February. Meanwhile, in January, it was flat, up 0.6 percent. In Q1FY26, Nisus Finance posted a net profit of ₹ 16.85 crore, up 103.55 percent year-on-year, while total income surged 91.49 percent to ₹ 28.72 crore. EBITDA rose 83.19 percent to ₹ 21.69 crore, with the net profit margin improving by 348 basis points to 58.68 percent. The company attributed this growth to higher business volumes across both India and UAE markets, coupled with efficient cost management. During the quarter, NiFCO strengthened its first-mover advantage as India's first listed AIF manager, enhancing governance standards and market access. The RESO-1 fund continued to focus on special situations in the real estate sector, particularly complex self-redevelopment projects delivering 21 percent returns. Leveraging its GIFT City structure—among the first licensed for Overseas Portfolio Investment—the company offered Indian investors compliant access to global opportunities. Additionally, its Dubai entity remains the only Indian-promoted fund to secure global lender leverage. NiFCO also advanced its asset tokenization initiatives through a partnership with Toyow, opening up new liquidity channels and expanding institutional investment reach. The company deployed ₹ 24 crore towards fund setup and fundraising expenses, to be amortized over the fund's life. Increased UAE income also lowered the effective tax rate, boosting PAT margin to 59 percent. Amit Goenka, Chairman & Managing Director, said this was the company's strongest first quarter ever, with revenue and profitability seeing substantial year-on-year gains. He highlighted balanced growth between fund management and advisory businesses, alongside strategic investments in urban redevelopment, plans to acquire a leading construction platform, and global partnerships in asset tokenization. 'This has been our strongest first quarter ever, with revenue growing over 91 percent year on year and profitability more than doubling. We have seen strong momentum in both India and the UAE with a good balance between our fund management and advisory businesses. Our operating costs have stayed in line with our expansion plans, which has allowed us to scale efficiently,' Goenka said. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
