Latest news with #Arvind
Time of India
5 days ago
- Business
- Time of India
Big export boom: India benefits from Donald Trump's tariffs; Indian firms see competitive position in the US tariff scenario
The reduction of US tariffs on China from 145% to 30%, compared to India's currently suspended 26%, presents a positive outlook for top executives. (AI image) Donald Trump's tariffs are being seen as a competitive positive by Indian firms. Leaders of major Indian companies such as Dixon Technologies, Tata Consumer Products, Blue Star, Havells and Arvind have informed analysts that Indian enterprises hold an advantageous position regarding US tariffs, with most receiving increased business enquiries from their American associates. The executives indicated that the ongoing discussions about the India-US bilateral trade agreement (BTA) will boost commercial activities. Despite Trump's demand for local production and threat of 25% tariff on mobile phone manufacturers like Apple and Samsung, industry analysts suggest that manufacturing in India for export remains more economical. The reduction of US tariffs on China from 145% to 30%, compared to India's currently suspended 26%, presents a positive outlook for top executives. India faces only a 10% US tariff at present, though the 26% rate might resume in July. Vocal for Local During a recent earnings call, Dixon managing director Atul Lall announced a 50% capacity expansion for their primary customer to fulfil growing orders, predominantly for North American exports, considering the current geopolitical situation. He noted that production for a major US brand, through Compal partnership, would increase "with potential opportunities for exports." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo Also Read | 'Will not discuss…': US tells WTO that India has no basis to impose retaliatory duties on 29 American products Although Lall did not name specific brands, analysts identified Motorola as their primary customer exporting mobile phones to the US, while the US brand mentioned is Google's Pixel. Last month, ET had reported Google's intentions to export mobile phones from India. Arvind's vice chairman Punit Lalbhai acknowledged that some 'strategic customers' experienced increased costs, which the company partially absorbed, potentially affecting margins in Q1 and Q2. Nevertheless, Lalbhai noted an increase in order volumes from American clients. He expressed confidence that margins would stabilise, with benefits becoming apparent in the latter half of the financial year, supported by strong demand. "This year we should add significant garment volume growth over last year in the textile space. Many of our capacities that we've been investing in are now coming on margin headwinds, but very optimistic growth and demand outlook," he said. Also Read | Apple's biggest contract manufacturer Foxconn readies 300-acre iPhone making campus in India with dorms for 30,000 employees In its presentation to investors, Gokaldas Exports highlighted that elevated Chinese tariffs and Bangladesh's political instability enhance India's appeal as a sourcing hub, despite temporary setbacks. Tata Consumer Products' CEO Sunil D'Souza noted that for their US-bound exports like coffee and tea, which aren't locally produced there, the competitive landscape remains balanced for all players. The first shipment of India-manufactured air conditioners from Havells has reached the US, with management expressing confidence in India benefiting from the US BTA. Leaders at BlueStar and Amber Enterprises report significant export interest as businesses prepare for potential tariff changes. R Kuruvilla Markose, Titan Company's international business CEO, indicated they are monitoring US price competition and anticipates swift BTA implementation. Also Read | Explained: Why India is well positioned to deal with negative effects of Trump's tariffs & top reasons it will be at an advantage Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
5 days ago
- Business
- Time of India
India gains as US tariffs rise: Local firms see export boom
Chief executives of leading homegrown companies including Dixon Technologies , Tata Consumer Products , Blue Star , Havells and Arvind , have told analysts that Indian businesses are at a competitive position in the US tariff scenario and most of them are now flooded with queries for higher business from their US partners. The chief executives said the India-US bilateral trade agreement (BTA) currently being discussed will provide an impetus to business. Dixon managing director Atul Lall told an earnings call last week that the company was expanding capacity for its anchor customer by 50% to meet its increased order book, a large part of it will be for exports to North America in the light of the evolving geopolitical scenario. He said production volume for a large US brand, through its partner Compal, will increase "with potential opportunities for exports." While Lall didn't specify any of the brands, analysts said its anchor customer is Motorola, which exports handsets to the US and the US-brand is Google's Pixel. ET had also reported last month that Google wants to export handsets from India. While US president Donald Trump has asked mobile phone companies like Apple and Samsung to produce locally in the US instead of sourcing from India and other places or face 25% tariff, experts have opined that despite the additional tariff, it will be cheaper for companies to produce in India and export. Leading apparel manufacturer Arvind vice chairman Punit Lalbhai said in the short-term some of its "strategic customers" have seen their cost structures go up, which the company has also absorbed a bit and could lead to a "little bit of margin pressure" in the first and second quarters. He, however, said the company was seeing a jump in volume orders from many of its US customers. Lalbhai said margins will soon normalise and the benefits will flow in the second half of the fiscal year with a robust demand scenario. "This year we should add significant garment volume growth over last year in the textile space. Many of our capacities that we've been investing in are now coming on margin headwinds, but very optimistic growth and demand outlook," he said. The optimism from top CEOs comes at a time when the US has already reduced tariffs on China from 145% to 30% as compared to India's 26%, which is currently on hold. The US has levied only 10% tariff on India and the 26% tariff could be enforced again from July. Another apparel company, Gokaldas Exports , said in its investor presentation that higher tariff on China and political uncertainties in Bangladesh contribute to the overall attractiveness of India as a sourcing destination despite short hiccups. FMCG major Tata Consumer Products CEO Sunil D'Souza said since products like coffee and tea, which it exports to the US, are not produced there and hence "from a competitive scenario, we'll be on even keel with everyone else" and not way off. Havells has just sent its first consignment of Made in India ACs to the US and the management said India will be a beneficiary of the US BTA. BlueStar and Amber Enterprises CEOs said they were receiving a huge number of export enquiries as companies prepared their supply chains for tariff disruptions. Titan Company 's CEO for international business, R Kuruvilla Markose, said the company is tracking competition on price increase in the US and expects the BTA will be signed quickly.
Economic Times
6 days ago
- Business
- Economic Times
India gains as US tariffs rise: Local firms see export boom
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Chief executives of leading homegrown companies including Dixon Technologies Havells and Arvind , have told analysts that Indian businesses are at a competitive position in the US tariff scenario and most of them are now flooded with queries for higher business from their US chief executives said the India-US bilateral trade agreement (BTA) currently being discussed will provide an impetus to managing director Atul Lall told an earnings call last week that the company was expanding capacity for its anchor customer by 50% to meet its increased order book, a large part of it will be for exports to North America in the light of the evolving geopolitical scenario. He said production volume for a large US brand, through its partner Compal, will increase "with potential opportunities for exports."While Lall didn't specify any of the brands, analysts said its anchor customer is Motorola, which exports handsets to the US and the US-brand is Google's had also reported last month that Google wants to export handsets from US president Donald Trump has asked mobile phone companies like Apple and Samsung to produce locally in the US instead of sourcing from India and other places or face 25% tariff, experts have opined that despite the additional tariff, it will be cheaper for companies to produce in India and apparel manufacturer Arvind vice chairman Punit Lalbhai said in the short-term some of its "strategic customers" have seen their cost structures go up, which the company has also absorbed a bit and could lead to a "little bit of margin pressure" in the first and second however, said the company was seeing a jump in volume orders from many of its US said margins will soon normalise and the benefits will flow in the second half of the fiscal year with a robust demand scenario. "This year we should add significant garment volume growth over last year in the textile space. Many of our capacities that we've been investing in are now coming on margin headwinds, but very optimistic growth and demand outlook," he optimism from top CEOs comes at a time when the US has already reduced tariffs on China from 145% to 30% as compared to India's 26%, which is currently on hold. The US has levied only 10% tariff on India and the 26% tariff could be enforced again from apparel company, Gokaldas Exports , said in its investor presentation that higher tariff on China and political uncertainties in Bangladesh contribute to the overall attractiveness of India as a sourcing destination despite short major Tata Consumer Products CEO Sunil D'Souza said since products like coffee and tea, which it exports to the US, are not produced there and hence "from a competitive scenario, we'll be on even keel with everyone else" and not way has just sent its first consignment of Made in India ACs to the US and the management said India will be a beneficiary of the US BTA. BlueStar and Amber Enterprises CEOs said they were receiving a huge number of export enquiries as companies prepared their supply chains for tariff disruptions. Titan Company 's CEO for international business, R Kuruvilla Markose, said the company is tracking competition on price increase in the US and expects the BTA will be signed quickly.
Time of India
6 days ago
- Business
- Time of India
India gains as US tariffs rise: Local firms see export boom
Chief executives of leading homegrown companies including Dixon Technologies , Tata Consumer Products , Blue Star , Havells and Arvind , have told analysts that Indian businesses are at a competitive position in the US tariff scenario and most of them are now flooded with queries for higher business from their US partners. The chief executives said the India-US bilateral trade agreement (BTA) currently being discussed will provide an impetus to business. Dixon managing director Atul Lall told an earnings call last week that the company was expanding capacity for its anchor customer by 50% to meet its increased order book, a large part of it will be for exports to North America in the light of the evolving geopolitical scenario. He said production volume for a large US brand, through its partner Compal, will increase "with potential opportunities for exports." While Lall didn't specify any of the brands, analysts said its anchor customer is Motorola, which exports handsets to the US and the US-brand is Google's Pixel. ET had also reported last month that Google wants to export handsets from India. While US president Donald Trump has asked mobile phone companies like Apple and Samsung to produce locally in the US instead of sourcing from India and other places or face 25% tariff, experts have opined that despite the additional tariff, it will be cheaper for companies to produce in India and export. Leading apparel manufacturer Arvind vice chairman Punit Lalbhai said in the short-term some of its "strategic customers" have seen their cost structures go up, which the company has also absorbed a bit and could lead to a "little bit of margin pressure" in the first and second quarters. He, however, said the company was seeing a jump in volume orders from many of its US customers. Lalbhai said margins will soon normalise and the benefits will flow in the second half of the fiscal year with a robust demand scenario. "This year we should add significant garment volume growth over last year in the textile space. Many of our capacities that we've been investing in are now coming on margin headwinds, but very optimistic growth and demand outlook," he said. The optimism from top CEOs comes at a time when the US has already reduced tariffs on China from 145% to 30% as compared to India's 26%, which is currently on hold. The US has levied only 10% tariff on India and the 26% tariff could be enforced again from July. Another apparel company, Gokaldas Exports , said in its investor presentation that higher tariff on China and political uncertainties in Bangladesh contribute to the overall attractiveness of India as a sourcing destination despite short hiccups. FMCG major Tata Consumer Products CEO Sunil D'Souza said since products like coffee and tea, which it exports to the US, are not produced there and hence "from a competitive scenario, we'll be on even keel with everyone else" and not way off. Havells has just sent its first consignment of Made in India ACs to the US and the management said India will be a beneficiary of the US BTA. BlueStar and Amber Enterprises CEOs said they were receiving a huge number of export enquiries as companies prepared their supply chains for tariff disruptions. Titan Company 's CEO for international business, R Kuruvilla Markose, said the company is tracking competition on price increase in the US and expects the BTA will be signed quickly.
Time of India
21-05-2025
- Time of India
2 dead, 5 injured in head-on collision between e-rickshaw and tractor
Chhapra: Two people died and five others sustained injuries, including one critical, in a head-on collision between an e-rickshaw and a tractor at Revilganj in Saran district on Wednesday. After the accident, the tractor driver managed to escape from the scene leaving behind his vehicle. The deceased have been identified as Arvind Ram (40), a resident of village Kachnar under Revilganj police station, and Munna Mahto (35) of Magai Dih under Mofussil police station. On getting information, Revilganj station house officer Subhash Paswan rushed to the spot and admitted the injured — Rameshwar Manjhi (52), Chandrika Mahto (50), Manoj Mahto (40), Birendra Mahto (35) and Akshay Mahto (25) — to the sadar hospital. The condition of Manoj is said to be critical. Sources said Arvind, a plumber, and his associates were going for work in village Deoria when they met with the accident. Revilganj block development officer Nitesh Kumar Singh and CO Kaushal Kishore also visited the house of deceased Arvind. Meanwhile, Munna is survived by two wives and daughters. Chhapra: Two people died and five others sustained injuries, including one critical, in a head-on collision between an e-rickshaw and a tractor at Revilganj in Saran district on Wednesday. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Secure Your Child's Future with Strong English Fluency Planet Spark Learn More Undo After the accident, the tractor driver managed to escape from the scene leaving behind his vehicle. The deceased have been identified as Arvind Ram (40), a resident of village Kachnar under Revilganj police station, and Munna Mahto (35) of Magai Dih under Mofussil police station. On getting information, Revilganj station house officer Subhash Paswan rushed to the spot and admitted the injured — Rameshwar Manjhi (52), Chandrika Mahto (50), Manoj Mahto (40), Birendra Mahto (35) and Akshay Mahto (25) — to the sadar hospital. The condition of Manoj is said to be critical. Sources said Arvind, a plumber, and his associates were going for work in village Deoria when they met with the accident. Revilganj block development officer Nitesh Kumar Singh and CO Kaushal Kishore also visited the house of deceased Arvind. Meanwhile, Munna is survived by two wives and daughters.
