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Time of India
5 days ago
- Automotive
- Time of India
UK trade deal slashes India's import duty on luxury cars, but liberalisation in EVs to take time
Prime Minister Narendra Modi with his British counterpart Keir Starmer during a meeting at Chequers Estate, in UK. (Pic credit: AP) NEW DELHI: India finally relaxed its highly-controlled duty rates on imported cars with the UK trade deal paving the way for customs charges to come down from the highs of 100%+ to as low as 10%, benefitting ultra-luxury car brands such as Jaguar and Land Rover, Rolls-Royce, Bentley and Aston Martin. However, the government has delayed the import duty concessions when it comes to electrics and other green cars, the measure being initiated to protect the domestic players who are looking to produce high-value clean cars. 'There are no concessions given to electrics, hybrids, and hydrogen-powered vehicles in the first five years,' an official said. In petrol and diesel categories, the lower tariffs can be enjoyed for a limited number of vehicles as the government has imposed quotas and limits to protect the domestic makers and also curb mass-scale shipments. For large-engine petrol cars above 3000 cc and diesel cars over 2500 cc — traditionally luxury imports — India has committed to lowering the current 100%+ customs duty to 10% over 15 years, within a quota starting at 10,000 units and rising to 19,000 in year five, according to a review document of Global Trade Research Initiative (GTRI). For mid-sized cars (1500–2500 cc diesel / up to 3000 cc petrol), a 50% in-quota duty applies initially, falling to 10% by year five. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like A stress-relief game that everyone around me is playing Elvenar - Play on Browser Learn More Undo Small cars under 1500 cc follow a similar tariff reduction path with a growing quota. 'These in-quota vehicles enjoy sharply reduced duties, while out-of-quota imports still face tariffs ranging from 95% to 50%, depending on vehicle size and year,' GTRI said. In electrics, market access has been given mostly in the high price segment of vehicles priced above £80,000 (around Rs 94 lakh). 'For vehicles priced below £40,000, no market access provided, ensuring complete protection for the mass-market EV segment in which India seeks global leadership,' the official said. While the duty cuts will happen only once the UK Parliament approves the agreement (possibly by the middle of next year), analysts believe that the duty reduction with the UK may pave the way for similar measures with other countries and trading blocs as well. 'This is India's first-ever auto tariff concession in any FTA, and it's likely to trigger similar demands from Japan, the EU, South Korea, and the U.S.,' GTRI said. 'By year five, up to 37,000 UK-built ICE vehicles could enter India annually at just 10% duty — far below the current base rate of 110%. This creates a preferential entry path for high-end British brands… but also for other UK-based exports. While the measure is capped in volume and spread over 15 years, the policy sets a precedent in opening India's tightly controlled automobile market to bilateral trade partners—potentially triggering similar demands in future FTAs. '
Time of India
21-07-2025
- Business
- Time of India
5 Smart Deals That Turned Roger Federer Into A Billionaire
Image via Instagram/Roger Federer Roger Federer has officially smashed records off the court—becoming one of the rare billionaires in global sports. While his $130 million in prize money from 20 Grand Slam wins is remarkable, it's just the tip of the iceberg. Federer's billion-dollar fortune was built by making power moves in the business world—long after the final point was played. The Swiss Maestro mastered the art of brand building, smart investments, and lucrative endorsements, creating a personal empire worth $1.3 billion. In this article, we break down the five most game-changing business strategies Federer used to become a global billionaire athlete, offering a blueprint for success beyond sports. 1. A Game-Changing $300 Million Uniqlo Deal In 2018, Federer made global headlines by walking away from his long-term deal with Nike. Critics called it risky, but Federer had a smarter play. He signed a jaw-dropping $300 million, 10-year deal with Japanese retail giant Uniqlo—without any performance or appearance clauses. This means Federer earns millions annually, even in retirement. The partnership allowed Federer to build a lifestyle brand rather than just being another sports ambassador. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like A stress-relief game that everyone around me is playing Elvenar - Play on Browser Learn More Undo Today, the Uniqlo deal is a masterclass in long-term brand value. 2. The $500 Million Sneaker Bet on 'On' When his wife introduced him to Swiss running shoe startup 'On,' Federer didn't just sign a sponsorship deal—he became a co-owner. In 2019, Federer took a 3% stake in On instead of a payout. Fast forward to 2021, the company went public with a staggering $11 billion valuation. Federer's stake is now valued at over $500 million, with On continuing to soar globally. This move shows how Federer evolved from brand ambassador to equity shareholder, reaping exponential returns. 3. Building the Money-Making Machine: Team8 In 2013, Federer took athlete representation into his own hands by co-founding Team8, a management agency, alongside his trusted agent Tony Godsick. Team8 doesn't just manage Federer—it scouts and represents elite players like Coco Gauff and rising stars, creating a revenue-generating platform. Team8 also co-produces premium events like the Laver Cup, giving Federer equity in global sports entertainment. This brilliant vertical integration means Federer profits from multiple levels of the sports industry. 4. Breaking into Luxury Fashion with Oliver Peoples Federer's business genius doesn't stop at sports. In 2023, he teamed up with luxury eyewear brand Oliver Peoples under Essilor Luxottica to launch the exclusive RF x Oliver Peoples collection. With sleek designs inspired by Federer's personal style, the brand quickly became a hit among luxury shoppers. This move expanded Federer's brand identity into high-end fashion, showing how sports stars can thrive in luxury markets. 5. Cashing in Big on Premium Endorsements and the Laver Cup Federer's off-court fortune is supercharged by long-term global endorsements with powerhouse brands like Rolex, Mercedes-Benz, Moët & Chandon, Barilla, Wilson, and Lindt. In 2023 alone, Federer banked over $95 million from endorsements. Plus, the Laver Cup—co-founded by Federer—is now a global tennis event generating millions in sponsorships and ticket sales. Federer's ability to keep cash flowing even after retirement proves why he's called the 'Billion Dollar Gentleman' of tennis. Roger Federer didn't just dominate tennis—he reinvented athlete entrepreneurship. With sharp business instincts and world-class brand-building skills, Federer turned his sports legacy into an unstoppable financial empire. His journey from tennis champion to billionaire businessman proves one thing: true greatness isn't just about winning titles—it's about creating lasting value. Federer's business playbook is a masterclass in wealth-building, inspiring athletes and entrepreneurs worldwide to think beyond the game and invest in their future. Catch Rani Rampal's inspiring story on Game On, Episode 4. Watch Here!
Time of India
13-07-2025
- Time of India
Commission extends application deadline to July 21 ‘after tech issues'
1 2 Kolkata: The West Bengal School Service Commission on Sunday extended the application deadline for the fresh selection test to July 21. Candidates from the 2016 recruitment panel have begun applying for the fresh test and the number of applicants has started increasing following the court order barring tainted candidates from appearing for the exam. A notice by the commission stated that due to some technical issues, the date has been extended. Earlier, it was supposed to close on Monday. An official confirmed that around 500 applications have come from eligible teachers from the 2016 recruitment panel so far, which saw a sharp surge from Sunday morning. "Initially, very few applications had been received from candidates on the 2016 recruitment panel. However, the numbers started rising today. Many who were earlier reluctant to appear for the exam have changed their minds after the HC order," said a WBSSC official. You Can Also Check: Kolkata AQI | Weather in Kolkata | Bank Holidays in Kolkata | Public Holidays in Kolkata Following multiple writ petitions after the WBSSC issued its recruitment notification, the court directed the commission to cancel applications from "tainted candidates" for the fresh examination to recruit assistant teachers in state-aided schools for 35,726 vacancies. Sources said around 800 applications had been received from those who were identified as "specifically tainted". by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like A stress-relief game that everyone around me is playing Elvenar - Play on Browser Learn More Undo WBSSC had earlier submitted a list of "specifically tainted candidates" comprising 185 assistant teachers for classes IX-X and 38 teachers for classes XI-XII. Additionally, 1,580 assistant teachers were identified who had OMR issues. Mehebub Mandal, a prominent face of the protest movement, said: "Now, after the HC order, teachers, including myself, from our forum have started filling forms through the online portal." A woman who used to teach at a school in Murshidabad said, "It's a relief that the tainted candidates won't be there, but now we have to compete with younger better-prepared candidates."
Time of India
23-06-2025
- Entertainment
- Time of India
NHL star Ryan Reaves roasts Paul Bissonnette from the bathtub in a viral Samsung ad
Ryan Reaves (Credit: Getty Images) In an unexpected but hilarious moment, Ryan Reaves became the star of a viral video that blended product placement and a well-timed jab. The clip, released Sunday on Reaves' Instagram, opens with the enforcer lounging in a bubble bath. A text from Paul Bissonnette arrives, poking fun at Reaves' golf skills. What followed was a tech-assisted response that stole the spotlight. Using Samsung's new Galaxy 25 Ultra voice command feature, Reaves asked the AI to pull up Bissonnette's career NHL stats. When it revealed just 7 goals and 22 points, Reaves instructed the phone to write a 'scathing response.' Though lighthearted in delivery, the message struck with precision and wit, allowing fans to enjoy a rare moment of player banter executed with perfect comedic timing. View this post on Instagram A post shared by ColorsTV (@colorstv) Ryan Reaves and Paul Bissonnette's stats compared While both players filled enforcer roles during their NHL careers, the numbers tell a different story. Reaves has suited up for over 900 games, tallying 63 goals and 137 points. Bissonnette, by contrast, played just 202 games and finished with 22 points. The stark contrast made Reaves' roast more than just a casual chirp; a career of consistent presence on the ice backed it. Fans were quick to react, pointing out that Reaves not only backed his talk but did so in a way that was entertaining, on-brand, and undeniably accurate. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like A stress-relief game that everyone around me is playing Elvenar - Play on Browser Learn More Undo Fans react to the bathtub roast with laughter The video went viral across hockey and pop culture pages on Sunday, garnering thousands of views and a wave of memes, reactions, and reposts. The casual tone, the luxurious bubble bath setting, and the surprising punchline made it an instant hit. Whether or not Paul Bissonnette fires back, Ryan Reaves has already won the first round in this off-season chirping match. The blend of stats, tech, and swagger gave fans exactly what they didn't know they needed: an NHL roast session from a bathtub. Also Read: 'Thanks for Bennett and Tkachuk': Brad Marchand trolls Calgary Flames after the Florida Panthers win Cup again For real-time updates, scores, and highlights, follow our live coverage of the India vs England Test match here . Game On Season 1 kicks off with Sakshi Malik's inspiring story. Watch Episode 1 here
Time of India
07-06-2025
- Politics
- Time of India
'Like a rugby player': Elon Musk hit Scott Bessent's ribcage after being called a 'fraud', Trump called it 'too much'
Elon Musk and Scott Bessent's fight was not just a push or shove, Musk punched Bessent like a rugby player. A more salacious account of the beginning of the Elon Musk - Donald Trump feud has now surfaced, courtesy MAGA activist Steve Bannon, who claimed that the physical fight between Elon Musk and Scott Bessent was not just a push or shove. But Elon Musk hit Bessent's ribcage like a rugby player and Bessent too hit Musk. Multiple people had to step in to break up the fight as they reached the then NSA Mike Waltz's office. Bannon earlier narrated the physical fight but now presented more details of it after Trump, Musk's ultimate showdown. Bannon said when Trump heard about it he said it was "too much". But this episode had no contribution to Elon Musk's recent black eye as this took place weeks ago when Waltz was the National Security Adviser but the episode can be earmarked as the beginning of the end. Mid-April, Musk and Bessent went to the Oval officer to make their respective cases about their preferences for the acting IRS commissioner. Trump supported Bessent's choice which rankled Musk. After they exited the Oval Office, they started exchanging insults. Bessent called Elon Musk a fraud. That led to the exchange of blows. Before this, Musk expressed his feelings about Trump's tariffs and made personal appeals to Trump to revese the tariffs. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like A stress-relief game that everyone around me is playing Elvenar - Play on Browser Learn More Undo After his exit from the White House, Musk started to attack Donald Trump's Big, Beautiful Bill and their public spat brought their relationship to an end with Elon Musk calling Trump ungrateful, liar and also a pedophile as he hinted that Trump's name is there in Epstein Files. He also called for Trump's impeachment. Donald Trump reacted in a measured way threatening to cut federal funding for Musk's companies. Elon Musk. A day later, Musk deleted his most damning post linking Trump to Epstein but Trump issued another threat that Elon Musk will face very serious consequences if he starts bankrolling Democrats for office.
