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Time of India
2 hours ago
- Business
- Time of India
Gems and jewellery exporters' body seeks policy reforms to tackle US tariff impact
Gems and jewellery exporters ' body GJEPC on Thursday urged the government to bring in immediate policy reforms to support the industry, which is facing challenging times due to a steep 50% tariff imposed by the US on all Indian goods. The United States is the largest market for Indian gems and jewellery sector , accounting for over USD 10 billion in exports, nearly 30 per cent of the industry's total global trade , according to GJEPC (Gem and Jewellery Export Promotion Council) chairman Kirit Bhansali. 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 US President Donald Trump's announcement of a sweeping 50 per cent tariff on all Indian goods is a deeply concerning development and the move will have far-reaching repercussions across India's economy, disrupting critical supply chains, stalling exports, and threatening thousands of livelihoods, he said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If you have a mouse, play this game for 1 minute Navy Quest Undo "The Indian gem and jewellery sector, in particular, stands to be severely impacted... A blanket tariff of this magnitude is severely devastating for the sector," Bhansali said. He further said, currently there is significant reliance on the US market, as 85 per cent of exports from SEEPZ SEZ , which provides 50,000 jobs, is directed there. Live Events For cut and polished diamonds, half of India's exports are US-bound and with the revised tariff hike, the entire industry may come to a standstill, placing immense pressure on every part of the value chain, from small karigars to large manufacturers What adds to the concern is that competing manufacturing hubs such as Turkey, Vietnam and Thailand continue to enjoy significantly lower tariffs of 15 per cent, 20 per cent and 19 per cent, respectively, making Indian products relatively less competitive in the US market, Bhansali said. "This imbalance, if unaddressed, could erode India's long-standing position as a key supplier to the US. We are also concerned about the possibility of trade rerouting through low-tariff destinations such as Mexico, Canada, Turkey, UAE, or Oman, undermining the spirit of legitimate trade and impacting transparency," he added. The GJEPC chairman said the domestic market, currently pegged at USD 85 billion, is expected to grow to Rs 130 billion in the next two years providing some relief, particularly for the diamond sector. Meanwhile, GJEPC is actively exploring new markets through initiatives including the upcoming Saudi Arabia Jewellery Exhibition (SAJEX) that is expected to open fresh avenues in emerging regions and diversify India's export destinations . "While we understand that no trade talks can happen in the current scenario, we urge the government for immediate relief. We appeal for policy reforms and extensive support to aid the industry in these extraordinarily challenging times. "We urge the government to provide the industry relief through Duty Drawback Scheme, financial support for market diversification through Market Access Initiative (MAI) scheme, deferment of interest on working capital facilities, allowance of reverse job work by units located in SEZs, allow exporters to offload their existing stock or pipeline to the domestic market, relief packages among others," he added. On August 6, President Trump announced an additional 25 per cent tariff on all Indian imports, on top of an existing 25 per cent duty, taking the total to 50% with effect from August 27.
Time of India
2 hours ago
- Business
- Time of India
Jio actively developing 6G technology with aim to be global leader
Digital services company Jio is actively engaged in development of 6G technology with an aim to be a global leader in the segment, according to annual report of parent firm Reliance Industries . It is now the world's largest data operator carrying over 17 exabytes of data traffic monthly with about 60 per cent share of wireless data traffic in India. 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 "Jio continues to work on future communication technologies and is actively researching and developing 6G technology, aiming to be a global leader in its development and deployment. "In less than a decade, Jio has driven India's transition from data darkness to data abundance with its vision and ahead of the curve investments on 4G pre-2016, fiber-to-the-home in 2018, standalone 5G in 2022, and FWA (fixes wireless access) in 2024," RIL annual report for 2024-25 said. To augment Jio's technology leadership in building terrestrial networks, it is also building its own satellite communication platform and partnering with SpaceX to offer Starlink's broadband internet services to its customers in India. Live Events As of March 2025, Jio had around 191 million 5G users on its network contributing about 45 per cent of its wireless data traffic. Jio has connected around 18 million homes as of March 2025 and has accounted for about 85 per cent of the total new additions in the industry during the fiscal year. The company also plans to completely go green by 2030 by accessing renewable energy mix from its own as well as third party plants. Jio is focused on 100 per cent renewable electricity by FY 2029-30, the report said. Reliance Group is pursuing its commitment to go net carbon neutral by 2035. "Jio's operations are also significantly more energy efficient as compared to its global peers. GSMAi, in its March 2025 report on energy benchmarking study, recognised that energy per data traffic (kWh / GB) for Jio is around 30 per cent of the global average," the report said. Jio is actively engaging with the government's IndiaAi mission to build an artificial intelligence ecosystem-- which is expected to consume huge energy due to data processing by high performance computing infrastructure. PTI
Time of India
2 hours ago
- Business
- Time of India
NIACL AO Recruitment 2025 notification out at newindia.co.in; check steps to apply and more
The New India Assurance Company Limited (NIACL) has officially announced its Administrative Officer (AO) Recruitment 2025, aiming to fill 550 vacancies across Generalist and Specialist roles under Scale-I positions. NIACL, one of India's leading public sector general insurance companies, is well-known for its nationwide presence and reliable reputation. 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 NIACL AO 2025: Application Dates and Important Schedule According to the official notification, the online application process began on August 7, 2025, and will remain open until August 30, 2025. During this period, candidates can register, edit application details, and pay the examination fee. The last date to print the application form is September 14, 2025. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Villas In Dubai | Search Ads Get Rates Undo How to Apply for NIACL AO Recruitment 2025 Follow these simple steps to complete your application: Step 1: Go to the official NIACL website: Step 2: Click on the 'Recruitment' section on the homepage. Live Events Step 3: Select the link for NIACL AO 2025 and click on 'Apply Online.' Step 4: Complete the registration process by entering your basic details. Step 5: Upload the necessary scanned documents, including a passport-size photo and signature. Step 6: Pay the application fee online using net banking, debit/credit card. Step 7: Submit the form and save/print the confirmation for future use. Candidates should read the complete official notification available on the NIACL website to check eligibility criteria, exam pattern, syllabus, and other important instructions before applying. To stay updated on the stories that are going viral follow ET Trending.
Time of India
3 hours ago
- Business
- Time of India
Bank of England cuts rates to 4% after narrow 5-4 vote
The Bank of England cut interest rates on Thursday but four of its nine policymakers - worried about high inflation - sought to keep borrowing costs on hold. Difficulty reaching an agreement meant the Monetary Policy Committee had to hold two rate votes for the first time in its history. 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 With the MPC split over how to respond to an inflation rate that the BoE forecasts will soon be double its 2% target and a recent worsening of job losses, Governor Andrew Bailey and four colleagues backed lowering Bank Rate to 4% from 4.25%. But that was only after a first round of voting ended in a 4-4-1 split with external MPC member Alan Taylor initially backing a half-point cut. The four members of the MPC who backed keeping rates on hold included Clare Lombardelli, the deputy governor for monetary policy, who broke from the majority for the first time. Chief Economist Huw Pill also voted to keep Bank Rate at 4.25%. Live Events The BoE repeated its guidance about "a gradual and careful approach" to further cuts in borrowing costs but added a new line to its message on the outlook, hinting that its run of rate cuts might be nearing an end. "The restrictiveness of monetary policy had fallen as Bank Rate had been reduced," it said, no longer directly saying that policy was still restrictive. It repeated that there was no pre-set path for borrowing costs. A halt to the process of cutting rates would be a blow for finance minister Rachel Reeves and Prime Minister Keir Starmer, who have struggled to meet their promise to voters to speed up Britain's slow economic growth. Bailey said the decision to cut rates for the fifth time since August last year was "finely balanced" although he thought they were still on a downward path. "But any future rate cuts will need to be made gradually and carefully," Bailey said in a statement. CONFLICTING RISKS The BoE is being pulled in different directions, leaving analysts, as well as its own policymakers, divided on its most likely moves in the coming months. Britain's jobs market has weakened in recent months in part due to a tax hike by Reeves on employers and U.S. President Donald Trump's trade war. But inflation is rising. The BoE revised up its forecast for a peak in inflation to 4% in September from 3.7% and said it would remain alert to the risk that the increase in prices - especially those of food - pushes up wage deals and longer-term price pressures. "Overall, the MPC judges that the upside risks around medium-term inflationary pressures have moved slightly higher since May," the summary of the meeting said. The BoE said it expected inflation to return to its 2% target only in the second quarter of 2027, three months later than its previous forecast. By contrast, the European Central Bank expects inflation in the euro zone to hold below 2%. It has cut borrowing costs eight times since June of last year, three more reductions than those of the BoE. Inflation has been above the BoE's 2% target almost constantly since May 2021. The British central bank said it expected economic growth of 0.3% in the July-to-September period, up from 0.1% in the second quarter. Its longer-term growth forecasts were little changed from its report in May with annual growth of just over 1% in the coming years. Before Thursday's expected rate cut, investors were mostly pricing in another rate cut in November but only one or two more in 2026. Bailey and other top BoE officials were due to hold a press conference at 1130 GMT. ETMarkets WhatsApp channel )
Time of India
3 hours ago
- Business
- Time of India
Reliance to exclusively supply beverages to Hyderabad Metro
Reliance Consumer Products (RCPL) has become the exclusive beverage partner for Hyderabad Metro under the official partnership with L&T Metro Rail (Hyderabad), the company announced on Thursday. The FMCG arm of Reliance Industries Ltd . now has Exclusive Selling Rights of its beverage portfolio through vending machines, kiosks and retail outlets in the metro premises at Hyderabad Metro serving around 4.6 lakh passengers daily. 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 "We are happy to partner with RCPL which reflects our commitment to enhancing commuter convenience by integrating reliable, high-quality offerings into metro spaces," said KVB Reddy, MD & CEO of L&T Metro Rail (Hyderabad). by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Orthopedic Knee Surgeon: Suffering From Pain After Age 50? Do This Every Morning Wellnee Undo RCPL acquired Campa Cola in 2022 and reintroduced it in the market in 2023 to revive the iconic heritage brand. Apart from soft drinks, the company has expanded its beverage portfolio with addition and development of Independence Packaged Water, Campa Energy drinks and Raskik beverages, among others. "We are thrilled to partner with Hyderabad Metro as it gives us an opportunity to serve consumers closely and add excitement to the daily commute of metro users," said Ketan Mody, Executive Director of Reliance Consumer Products. Live Events Hyderabad Metro is currently one of the longest in the country spread over 69.2 kms across 57 stations. As of May 2025, the average daily ridership of the Hyderabad Metro Rail is approximately 4.6 lakh passengers. While in 2024, the system achieved its highest-ever daily ridership of 5.63 lakh passengers.
