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South China Morning Post
17-05-2025
- Business
- South China Morning Post
India's manufacturers fear influx of cheap Chinese imports amid US-China trade war fallout
Indian manufacturers are sounding the alarm over a growing influx of low-cost Chinese goods, from yarn and steel to toys and electronics, warning that they are being priced out of their own markets as Beijing redirects more exports away from the United States Despite the US and China agreeing to steep tariff reductions last week, analysts warn that years of trade tensions between the world's two largest economies have already led to a flood of cheap Chinese goods in India and markets elsewhere, leaving local manufacturers struggling to compete. Earlier this month, the South India Spinners Association reported that at least 50 small spinning mills in southern textile hubs like Pallipalayam, Karur, and Tirupur were facing production slowdowns. Many fear further cutbacks are now on the horizon as raw material imports from China, such as yarn, undercut prices in the domestic market. People work at a garment factory in Tirupur, India's Tamil Nadu state, last month. Photo: Reuters The steel sector faces similar challenges. In December, executives from small and medium-sized steel mills, which account for 41 per cent of India's total steel output, revealed that capacity utilisation had plummeted by nearly a third over the previous six months. These mills, unable to match Chinese steel priced US$25 to $50 cheaper per tonne on average, have been forced to scale back operations and consider lay-offs, Reuters reported. The origins of this upheaval can be traced back to the US-China trade war, which began in 2017 during President Donald Trump 's first term and continued under his successor Joe Biden. By 2024, China's share of US non-oil goods imports had fallen by nearly 10 percentage points to 16 per cent, according to a report from financial services group Nomura published in April. However, China's global export share remained near an all-time high of 15 per cent, the report found, reflecting Beijing's efforts to redirect surplus trade towards alternative markets.
Time of India
05-05-2025
- Business
- Time of India
Why is India emerging as a strong market amid global economic changes? BlackRock's Ben Powell explains
Ben Powell , Chief Middle East and APAC Investment Strategist, BlackRock Investment Institute , says India's market position is strengthening due to its strategic geopolitical positioning, enabling advantageous negotiations with various global partners. The anticipated decline in oil prices, following the OPEC announcement, is expected to positively impact India's economy and provide the RBI with greater flexibility. BlackRock Investment Institute views India as an emerging market poised to benefit from prevailing global trends. Powell says though there is likelihood of a US contraction driven by some supply constraints , they are still overweight US equities largely because of the AI mega force which is extremely powerful and driving those big companies forward. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration -:-:- Loaded : 0% 0:00:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - -:-:- 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. When we interacted with you at the beginning of the year, it was the US market all the way. We did not interact with you in April when it was emerging markets all the way. Just when the world got convinced that emerging markets could come up, US markets have also made a comeback. It reminds me of a seesaw game and before you realise, the side changes. What is happening to the world? Ben Powell : Yes, the roller coaster continues and that is something we are all going to have to get used to. So, a quick point just in passing, I think again the last month has been a reminder to us investors where we can to stay calm, tried to look through some of the very short-term noise and focus on longer-term structural changes and allocate our investments accordingly, and that is what the market has pivoted back to over the last few weeks. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Highly Prestigious OMEA Award for Indian Manufacturers ansoim Learn More Undo We have been reminded that sure there are many things to be concerned about not least the trade tensions, but there are many tailwinds globally including the AI mega force and, of course, in India as well with what seems to be quite an encouraging combination of lower oil price, potentially some good news coming with the US vis-à-vis trade deal. So, for now, it feels like it continues to be a much more positive environment than perhaps when we last spoke. What has changed is that the trade deals are still not in place. The US economy is likely to slow down, and the evidence that there would be a supply disruption would be felt in the coming quarter. So, in the next two quarters, it would be hard to call. What explains this comeback in equity markets, especially what we saw last week? Ben Powell: It is earnings. Again, there are many things to worry about. As we look at actual numbers, the data continues to be quite strong in the US and globally. In the US, we are mostly through the most recent earning season and they have surprised on the upside across the board. But in particular, we have a huge concentration in the US around these tech behemoths. So global equities are again uncomfortable, but we are dependent on how well these companies are doing. The good news is for now they continue to go very well driven by the AI super boom which continues unabated. The earnings have been strong, that is the reason why we have seen the S&P up nine days in a row. By the way, that is the first time that has happened since 2004. So, a historic rally is unfolding for the moment which is dramatic and exciting, but the reason is very normal and much more prosaic. So, earning strength and resilience is driving that upward move. Live Events You Might Also Like: Indian bonds offer compelling income amid global yield jitters; we favor gold as a portfolio diversifier: BlackRock's Ben Powell At the beginning of the year, as an institute, you were a big votary of US equities. Then, we saw this midair turbulence. As we roll forward, by the end of 2025 or a year from now, which end of the equity market or which world do you think will outperform, underperform, and will be in line with market performance? Ben Powell: First, we think this is really a different global equity market from 5-10 years ago. At that stage, you could be risk on or risk off. We now think you need to be much more picky, much more selective, even within the umbrella term called emerging markets. They are not all the same, obviously, but we think that is really true in a fracturing world. Sadly, the world is fracturing geopolitically, trading wise, economically, and so forth. What that is going to mean is more dispersion. We really need to be thoughtful around what we pick. We continue to like the US. They still got the universities and the ability to monetise the intellectual property they create. So, the US for now is central to the AI super boom which we think continues and the data is supportive of that, that is one. Secondly, one emerging market we continue to like is India. India in a way is quite interesting. It was kind of ahead of the game in being worried, and had a selloff a few months ago. Now, we have got a much more interesting position in India with tailwinds potentially from the geopolitical fracturing where India is in a really strong position to carefully and respectfully negotiate great deals with different counterparties and not just the US. Two, after the OPEC announcement over the weekend, fall in oil prices looks likely to continue. That will benefit India in aggregate, different parts of the economy differently, but in the round that is good news and should give the RBI more room for manoeuvre. I look at India as an example of an emerging market which is benefiting from a number of these mega forces. Even in a more complicated world, there are still tailwinds out there and it seems to us at the BlackRock Investment Institute that India is on the right side of a few of them. You Might Also Like: 'India is no longer just an EM Play' – BlackRock's Powell on investment shifts You did say the fact that the earnings growth or the earnings visibility is the one of the reasons why you have the equity markets are rallying back in the United States and also will command more premium. We have to keep in mind what lies ahead in the future. We have not yet taken into account what could lie ahead when it comes to Trump tariffs because there is just a 90-day pause and are through almost 20 days. That has an impact on the earnings growth going ahead. Don't you see that as a risk factor going ahead? Ben Powell: We do and to be clear, we expect a contraction in the US economy driven by some of the reasons you have talked about. Again there are things to be worried about. The future is always a hard place to travel but it feels particularly uncertain at the moment across many different dimensions that are true and important. But we have just got to relax and accept that right, we cannot be as confident looking forward today as we probably were 10 years ago where with hindsight I guess it turned out we were in a time frame called the great moderation where inflation was low, interest rates were low and that was then. Now, everything seems much more complicated – whether it is AI, geopolitics, trade tensions, and so on and so on. It is a long list. We just need to kind of accept that. It is uncomfortable, but just accept it and get back to the basics of investing. For us, even though we recognise some of these significant headwinds, they are real and important, now we think they are being outweighed by the tailwinds which include artificial intelligence, an absolutely amazing technology and a historic moment in human history and now back to our kind of normal level which has important implications for markets which are still not fully priced in. I totally understand this sounds a bit strange, but we think you are going to get a US contraction driven by some supply constraints and indeed we are still overweight US equities largely because of the AI mega force which is extremely powerful and driving those big companies forward. You Might Also Like: BlackRock believes in India's structural bull story; the selloff has fed on itself: Ben Powell
Time of India
30-04-2025
- Business
- Time of India
Corona Remedies files draft papers with Sebi for Rs 800 crore IPO
New Delhi, Pharma firm Corona Remedies on Wednesday filed preliminary papers with markets regulator Sebi seeking its nod to float a Rs 800-crore initial public offering (IPO). The IPO is entirely an offer for sale (OFS) by promoters and existing investors with no fresh issue component, according to the draft red herring prospectus (DRHP). Existing investors --Sepia Investments, Anchor Partners and Sage Investment Trust --plan to offload shares under the OFS route. Since it's an OFS, the company will not receive any proceeds from the public issue. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Highly Prestigious OMEA Award for Indian Manufacturers ansoim Learn More Undo Corona Remedies is a pharmaceutical formulation company engaged in developing, manufacturing and marketing products in women's healthcare, cardio-diabeto, pain management, urology and other therapeutic areas. Its diversified product portfolio comprises 67 brands catering to a range of therapeutic areas such as women's healthcare, cardio-diabeto, pain management and urology, among others, as of December 31, 2024. JM Financial , IIFL Capital Services and Kotak Mahindra Capital Company are the book-running lead managers to the issue.
Time of India
21-04-2025
- Business
- Time of India
Netflix shares rise as rosy outlook calms investors' nerves amid tariff fears
Netflix shares rose about 3% in premarket trading on Monday as the streaming giant's upbeat annual revenue outlook reassured investors that it could withstand any economic downturn amid a tariff laden economic climate. The company's co-CEO Greg Peters noted that the entertainment sector, and Netflix specifically, had proven resilient during previous downturns. Peters said they had not seen any significant shifts in customer behavior, after the company reported first-quarter earnings above analysts' expectations on Thursday. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Highly Prestigious OMEA Award for Indian Manufacturers ansoim Learn More Undo Netflix also reaffirmed its 2025 revenue forecast of between $43.5 billion and $44.5 billion. These remarks offered some respite to investors who were worried that President Donald Trump 's tariff policies could likely lead to a recession, forcing consumers to rein in spending on streaming services. Live Events "Even in a global recession scenario, Netflix is likely to be highly resilient given the price-to-value of the service remains very attractive," said Jeffrey Wlodarczak, an analyst at Pivotal Research Group, who is five-star rated for both estimate accuracy and recommendation performance, as per LSEG data. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories "Their advertising business should demonstrate strong growth in any scenario given its nascent state," Wlodarczak said. The lower-priced, ad-supported tier accounted for 55% of new sign-ups in countries where it is available, Netflix said. "While advertising is a small portion of the business today, the longer-term prospects are notably investments in ad-tech capabilities should drive healthy growth for years to come", BofA Global Research analysts said. Earlier this month, the Wall Street Journal reported that Netflix aims to double revenue from $39 billion in 2024 and earn about $9 billion in global ad sales by 2030. The company has upped the ante on delivering steady revenue growth as it ceased reporting subscriber data from this year, leaving Wall Street with fewer metrics to gauge its health. Peers Walt Disney and Warner Bros Discovery shares were down under 1% each in premarket trading. At least seven brokerages raised price target for Netflix following its results, bringing the median target to $1,147.50, according to data compiled by LSEG. Also Read: AI, Netflix, and chill: Is the struggle to find the perfect show to watch finally coming to an end?
