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Economic Times
an hour ago
- Economic Times
With US tariff war disrupting Indian job market, here's how to protect your job through smart adapting
iStock Engineering goods, textiles, and chemicals sectors are most likely be impacted by tarriffs If your news feed does not show you geopolitics or trade policies, you're not alone. International trade doesn't grab attention like cricket or Bollywood. However, when the US hiked tariffs on Indian exports, as it did again in July this year, it was not a political story anymore. It was an attack on your job security, too. Think of tariff like a 25% or 50% additional GST you have to pay on imported apples or kiwis bought from your fruit vendor. Given the high price, maybe you would want to switch to local bananas and oranges instead. Similarly, when the US imposes steep tariffs and buyers choose not to buy anymore, it impactsthe revenues and operations of exporters in, say, chemicals or auto components. If your employer is affected, so is your job. Radiation fallout everywhere Though India has won limited relief on farm exports after intense pushback, the overall picture is clear—the trade war isn't going away soon. Since April, when the US-driven tariff war started playing out, global growth has slowed down, and oil prices and dollar rates have fluctuated. Like radiation fallout after a nuclear strike, every business has been impacted by second-degree effects. When a US customer cancels or pauses an order because of uncertainty or tariff-driven costs, it's not just the exporter but also the Indian supplier, transporter, marketing agencies, financial teams, and even traditional IT services firms that feel the pinch. A Noida engineering firm recently froze recruitment on domestic projects after its US order book shrank by 30% practically overnight. In Gujarat, a mid-sized chemicals exporter shifted focus to low-margin domestic orders as part of survival tactics. Double trouble The tariff timing couldn't have been worse. While China continues to struggle with a real estate slump, the Eurozone has been hovering on the edge of recession since 2024. The US presidency change in 2025 rattled investors globally, and energy prices swung unpredictably from multiple war zones. All this has driven up India's import costs and fuelled inflationary pressure. What it means is that companies are being forced to become conservative, tighten their belts, and cut costs, often through automation. An apparel exporter from Tirupur, Tamil Nadu, recently replaced 40 manual stitching stations with automated units when hit by a combination of rising input costs and falling US orders. The grim reality is that these jobs won't be coming back. Some sink, some swim Not all sectors are equally bruised. Those grappling with rising costs and shrinking US demand include engineering goods, textiles, and chemicals. Reducing margins is forcing them to delay expansion. Other sectors, such as apparel and leather exporters, are offsetting losses by cautiously picking up new US orders from buyers diversifying away from China. However, they are not going aggressive on hiring. Meanwhile, traditional export sales jobs are reducing and are being replaced by compliance officers, localisation managers, and trade diversification specialists. Quiet winners In every disruption, new winners emerge. Here, the recovery is being led by the domestic market, with sectors focused on renewable energy, electric vehicles, healthcare, and fintech still attracting investments and skilled talent. Nearly 60% of private sector formal and informal jobs in India are in MSMEs. Here, too, smaller manufacturers are shifting focus to domestic markets and e-commerce platforms to keep their engines running. Crisis leads to innovation, and thus, new startups in supply chain technology, AI-driven manufacturing, and agri-processing are developing new solutions and expanding teams. A Pune-based SaaS (software as a service) startup recently signed three large exporters for its AI-powered cost-tracking tool. If you are a job seeker, these growth sectors require skills blending domain expertise, digital fluency, and market savvy. Rewriting playbooks Indian exporters aren't going down without a fight. They are aggressively diversifying by seeking new markets in ASEAN, the Middle East, and Africa. Meanwhile, the government-led Production Linked Incentive (PLI) schemes are pulling investments into domestic manufacturing and import substitution. All firms are targeting costs by sourcing closer to end markets and, thus, cutting down on shipping and customs. What this means is growth in roles around compliance, automation, and market intelligence. A Pune auto component manufacturer has redirected 20% of its export pipeline to Southeast Asia, with a new team in multilingual sales, regional regulatory knowledge, and trade finance skills. Your tariff survival kit You cannot control trade wars or uncertainty, but you can reduce your personal risk. First, understand and monitor your employer's business, export exposure, client geographies, and supply chain dependencies. Next, acquire automation-resistant skills, including AI, compliance, trade finance, and vendor management. Invest in professional relationships, especially in domestic growth sectors. Also, diversify your income through freelancing or entrepreneurship on the side. Policies that matter to you Know that India's domestic market is huge, and regional trade partnerships are expanding, and yet, these buffers aren't foolproof. Hence, on the external front, India is challenging tariffs at the WTO, negotiating sectoral relief with the US, and expanding engagement with ASEAN and Gulf states to unlock alternative markets. Internally, it is incentivising exporters and expanding PLI coverage to create domestic manufacturing jobs. Schemes like Make in India and Skill India will impact your sector's hiring outlook in the current challenging times. Thrive, not survive Tariffs and global uncertainty have become the new normal. If jobs of the future are to be defined by volatility, how will you build your career? Become a professional who is constantly learning new skills and growing professional relationships. When a statement in Washington impacts a small business in Surat, your job security depends on your adaptability. The right time to prepare? Yesterday. The second-best time? Today. The Author is FOUNDER, A JOB LOSS ASSURANCE COMPANY, AND AUTHOR OF GET HIRED IN 30 DAYS. (Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of
Time of India
an hour ago
- Time of India
With US tariff war disrupting Indian job market, here's how to protect your job through smart adapting
Radiation fallout everywhere Double trouble Academy Empower your mind, elevate your skills Some sink, some swim Quiet winners Rewriting playbooks Your tariff survival kit Policies that matter to you Thrive, not survive If your news feed does not show you geopolitics or trade policies, you're not alone. International trade doesn't grab attention like cricket or Bollywood. However, when the US hiked tariffs on Indian exports, as it did again in July this year, it was not a political story anymore. It was an attack on your job security, of tariff like a 25% or 50% additional GST you have to pay on imported apples or kiwis bought from your fruit vendor. Given the high price, maybe you would want to switch to local bananas and oranges instead. Similarly, when the US imposes steep tariffs and buyers choose not to buy anymore, it impactsthe revenues and operations of exporters in, say, chemicals or auto components. If your employer is affected, so is your India has won limited relief on farm exports after intense pushback, the overall picture is clear—the trade war isn't going away soon. Since April, when the US-driven tariff war started playing out, global growth has slowed down, and oil prices and dollar rates have fluctuated. Like radiation fallout after a nuclear strike, every business has been impacted by second-degree effects. When a US customer cancels or pauses an order because of uncertainty or tariff-driven costs, it's not just the exporter but also the Indian supplier, transporter, marketing agencies, financial teams, and even traditional IT services firms that feel the pinch. A Noida engineering firm recently froze recruitment on domestic projects after its US order book shrank by 30% practically overnight. In Gujarat, a mid-sized chemicals exporter shifted focus to low-margin domestic orders as part of survival tariff timing couldn't have been worse. While China continues to struggle with a real estate slump, the Eurozone has been hovering on the edge of recession since 2024. The US presidency change in 2025 rattled investors globally, and energy prices swung unpredictably from multiple war zones. All this has driven up India's import costs and fuelled inflationary pressure. What it means is that companies are being forced to become conservative, tighten their belts, and cut costs, often through automation. An apparel exporter from Tirupur, Tamil Nadu, recently replaced 40 manual stitching stations with automated units when hit by a combination of rising input costs and falling US orders. The grim reality is that these jobs won't be coming all sectors are equally bruised. Those grappling with rising costs and shrinking US demand include engineering goods, textiles, and chemicals. Reducing margins is forcing them to delay expansion. Other sectors, such as apparel and leather exporters, are offsetting losses by cautiously picking up new US orders from buyers diversifying away from China. However, they are not going aggressive on hiring. Meanwhile, traditional export sales jobs are reducing and are being replaced by compliance officers, localisation managers, and trade diversification every disruption, new winners emerge. Here, the recovery is being led by the domestic market, with sectors focused on renewable energy, electric vehicles, healthcare, and fintech still attracting investments and skilled talent. Nearly 60% of private sector formal and informal jobs in India are in MSMEs. Here, too, smaller manufacturers are shifting focus to domestic markets and e-commerce platforms to keep their engines running. Crisis leads to innovation, and thus, new startups in supply chain technology, AI-driven manufacturing, and agri-processing are developing new solutions and expanding teams. A Pune-based SaaS (software as a service) startup recently signed three large exporters for its AI-powered cost-tracking tool. If you are a job seeker, these growth sectors require skills blending domain expertise, digital fluency, and market exporters aren't going down without a fight. They are aggressively diversifying by seeking new markets in ASEAN, the Middle East, and Africa. Meanwhile, the government-led Production Linked Incentive (PLI) schemes are pulling investments into domestic manufacturing and import substitution. All firms are targeting costs by sourcing closer to end markets and, thus, cutting down on shipping and customs. What this means is growth in roles around compliance, automation, and market intelligence. A Pune auto component manufacturer has redirected 20% of its export pipeline to Southeast Asia, with a new team in multilingual sales, regional regulatory knowledge, and trade finance cannot control trade wars or uncertainty, but you can reduce your personal risk. First, understand and monitor your employer's business, export exposure, client geographies, and supply chain dependencies. Next, acquire automation-resistant skills, including AI, compliance, trade finance, and vendor management. Invest in professional relationships, especially in domestic growth sectors. Also, diversify your income through freelancing or entrepreneurship on the that India's domestic market is huge, and regional trade partnerships are expanding, and yet, these buffers aren't foolproof. Hence, on the external front, India is challenging tariffs at the WTO, negotiating sectoral relief with the US, and expanding engagement with ASEAN and Gulf states to unlock alternative markets. Internally, it is incentivising exporters and expanding PLI coverage to create domestic manufacturing jobs. Schemes like Make in India and Skill India will impact your sector's hiring outlook in the current challenging and global uncertainty have become the new normal. If jobs of the future are to be defined by volatility, how will you build your career? Become a professional who is constantly learning new skills and growing professional relationships. When a statement in Washington impacts a small business in Surat, your job security depends on your adaptability. The right time to prepare? Yesterday. The second-best time? Today.
Mint
an hour ago
- Mint
Chinese FM Wang Yi lands in India today for key talks with Modi, Jaishankar, Doval amid Trump tariffs. What's on agenda?
Chinese Foreign Minister Wang Yi will begin his two-day visit to India today, 18 August. India and China are expected to discuss new confidence-building measures for durable peace and tranquillity along their contested border during Wang Yi's visit, which comes ahead of Prime Minister Narendra Modi's China trip later this month. Wang's visit is largely seen as part of ongoing efforts by the two neighbours to rebuild their relationship after it came under severe strain following the deadly Galwan Valley clashes in 2020. Howeber, the trip also assumes significance in view of increasing tensions in India-US relations following President Donald Trump doubling tariffs on Indian goods to 50 per cent, which included an additional penalty of 25 per cent for purchasing Russian oil. The Chinese foreign minister will be in India primarily to hold a fresh round of Special Representatives (SR) dialogue on the boundary question with National Security Advisor Ajit Doval. Wang and Doval are the designated special representatives for the boundary talks. Wang Yi will land in New Delhi at around 4:15 PM on Monday. At 6 PM, he will meet External Affairs Minister S Jaishankar for bilateral discussions. On Tuesday morning, Wang Yi is scheduled to hold a new round of the Special Representatives (SR) dialogue with NSA Ajit Doval at 11 AM. The meetings could see both sides deliberate on a range of key issues, including the border situation, trade and resumption of flight services. The Chinese minister will then call on Prime Minister Modi at his residence, 7 Lok Kalyan Marg, at 5:30 PM, according to the Ministry of External Affairs (MEA). The meeting assumes significance as it is taking place days before Modi's planned trip to China to attend the annual summit of the Shanghai Cooperation Organisation (SCO). The Chinese foreign minister's visit is largely seen as part of ongoing efforts by the two neighbours to rebuild their relationship, which came under severe strain following the deadly Galwan Valley clashes in 2020. Though the two sides disengaged troops from the friction points, they are yet to de-escalate the situation by pulling back the frontline forces from the border. Each side currently has around 50,000 to 60,000 troops along the LAC in the eastern Ladakh region. The two sides will also use the opportunity to lay the ground for Prime Minister Modi's visit to China to attend the annual summit of the SCO to be held on 31 August and 1 September, news agency PTI said. As per the plan, the prime minister will visit Japan around 29 August and then travel to the northern Chinese city of Tianjin for the SCO summit. Modi's visit to China is being planned amid efforts by the two sides to repair their bilateral ties, which came under severe strain following the deadly clashes between Indian and Chinese troops in Galwan Valley in June 2020. NSA Doval travelled to China in December last and held the SR talks with Wang, weeks after Prime Minister Modi and Chinese President Xi Jinping decided to revive various dialogue mechanisms between the two sides at a meeting in the Russian city of Kazan. The military standoff in eastern Ladakh began in May 2020 and the clashes at the Galwan Valley in June that year resulted in a severe strain in bilateral ties. The decision to revive various dialogue mechanisms was taken at a meeting between Prime Minister Modi and Chinese President Xi in Kazan on 23 October 2024. The two sides also initiated several initiatives to rebuild ties, including the resumption of the Kailash Mansarovar Yatra and New Delhi restarting the issuance of tourist visas to Chinese nationals. Both sides are also discussing modalities to resume direct flight services between the two countries. The flight services between the two sides were suspended following the COVID-19 pandemic in 2020. It was not restored in view of the border row. Defence Minister Rajnath Singh and External Affairs Minister Jaishankar visited China in the last two months to attend the SCO meetings. The two sides are expected to discuss new confidence-building measures for durable peace and tranquillity along their contested border. China is the current chair of the SCO.
