Latest news with #Indo-US
Time of India
2 hours ago
- Business
- Time of India
Trump's right on 'dead economy', remarks Rahul Gandhi, blames PM Modi
NEW DELHI: Congress neta Rahul Gandhi Thursday said US President Donald Trump has stated a fact that India has a "dead economy", asserting that the BJP govt is running the country to the ground because PM Narendra Modi "works for just one person, Adani". Claiming there is "total confusion", Rahul said the Modi govt has destroyed the economic policy, foreign policy and defence policy of India, and Modi "does not know how to run the country". "Modi works for only one person - Adani. They have destroyed all small businesses. You will see, this (Indo-US trade) deal will happen, and Trump will define how this deal is done, and Modi will do as Trump dictates," he said. Speaking to reporters amid the row over Trump's imposition of tariffs, Rahul said there is no question the "Indian economy is a dead economy, the entire world knows it, except the PM and the finance minister". He quipped, "Am glad that President Trump has stated a fact." He said, "The Indian economy is dead, Modi killed it", mentioning among reasons the "Adani-Modi partnership, demonetisation and flawed GST". Suggesting that Trump's tariffs had to be seen in conjunction with other geo-political issues, Rahul said India's "genius foreign policy" can be gauged from the fact that "while the US is abusing India, China is after you", and no country condemned Pakistan for the Pahalgam terror attack when multi-party delegations went across the world. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Gunung: New Container Houses – Take A Look At The Prices! Container homes | Search ads Learn More Undo He said the PM did not name Trump and China (in Parliament), and could not acknowledge that no country had condemned Pakistan while "Trump is having lunch with Pakistan's military chief who is behind the Pahalgam attack". "And they say it is a big success. What success?" he jibed. Rahul said the key questions was why Modi was unable to respond to Trump's claim, made over 30-odd times, that he forced the ceasefire, that India lost five planes, and is now saying India will pay 25% tariffs.
Hindustan Times
14 hours ago
- Business
- Hindustan Times
US tariff imposition is terrible, but India has done well to resist: Trade expert
The US imposition of 25% tariff is `terrible' and India has done to stand up to Donald Trump's bullying and calling the US bluff, says a leading US trade expert. US President Donald Trump on Wednesday, July 30, announced the imposition of a 25 per cent tariff on all goods coming from India starting August 1(PTI/File) ``India could have fared a lot worse if it had given in to US pressure to open its agriculture and dairy industries, which is America's principal interest. To that extent, the 25% tariff is along expected lines, Biswajit Dhar, told this reporter, adding that 'India sensibly shielded its agricultural and dairy markets from American access. Had we caved, the harm would have been much worse.' He said that India must keep its small and marginal farmers in mind and their interests could scarcely be ignored. ``No trade deal can be so one-sided,'' the trade expert said. Dhar also said that the threat to impose tariffs on India's import of Russian oil ratcheting up the pressure on New Delhi, is unacceptable. ``The US has no business telling India how it should manage its relations with other countries. It is a direct impingement on India's sovereignty," Dhar said. "What is most objectionable is the manner in which the US President cites what kind of trade relations will have with other countries," he said. "First, you said you played a part in ending the India-Pakistan conflict. Now he is going even further. India cannot be led by Trump," Dhar added. President Donald Trump announced on Wednesday that the United States would impose a 25% on goods imported from India, alongside an additional "penalty" import tax, citing India's significant trade barriers and continued purchasing of Russian oil and military equipment. In a social media post, Trump stated that while India "is our friend", its existing tariffs on US goods were "far too high, among the highest in the World". He also criticised India's "most strenuous and obnoxious non-monetary Trade Barriers of any Country". The US president added that India's procurement of military equipment and oil from Russia had enabled the war in Ukraine. As a result, he intended to charge an additional "penalty" on Indian imports starting this Friday, as part of his administration's revised tariffs on multiple countries. ``What Trump's decision has done is to scuttle, in effect, Indo-US bilateral trade talks, which were proceeding alongside," Dhar said. The US president's comments on social media called into question the prospects of a deal with a key US trading partner just days before his tariff deadline. This move follows Washington running a US$45.8 billion trade imbalance in goods with New Delhi last year, according to the US Census Bureau. India said on Wednesday that it was committed to a fair and balanced trade agreement with Washington after Trump's tariff announcement. Top trade officials have been transiting back and forth between Washington and New Delhi for months in pursuit of a final agreement. "India and the US have been engaged in negotiations on concluding a fair, balanced and mutually beneficial bilateral trade agreement over the last few months. We remain committed to that objective," the Indian government said in a statement. Asked what New Delhi could do now, including imposing counter tariffs as China had done, Dhar said that India needs to wait and watch. ``The kind of tariffs he has imposed on India and other countries, will come back and bite the US,'' he predicted. Asked what the short-term impact of this tariff imposition would be, Dhar said while they will be 'painful' and will have a clear bearing on exports from India, US companies which trade in India would also suffer. ``For instance, the US pharmaceutical industry leverages the Indian pharmaceutical sector for cost-effective production, particularly of generic drugs, which significantly benefits the US healthcare system through lower drug prices and increased access. Indian companies, in turn, find a large and lucrative market in the U.S., especially for generic medications. This balance could be disturbed," he said. US tariffs will also impact its smartphone industry, Dhar predicted. For the first time India has overtaken China as the No. 1 exporter of smartphones to the US, following Apple's tariff-driven manufacturing pivot to New Delhi. India-made devices accounted for 44% of smartphone imports in the US during the second quarter, up sharply from 13% during the same period last year, according to a new report published Monday by research firm Canalys. The total volume of smartphones made in India jumped 240% year-over-year, Canalys wrote.
Time of India
16 hours ago
- Business
- Time of India
Med Device makers decry US Tariffs as Troubling, Shortsighted
New Delhi: Raising strong concerns over the recent announcement of 25 per cent trade tariffs and additional penalties by the US President, medical device makers in India have called the move troubling and shortsighted. In a post on Truth Social, Donald Trump said, India will be paying a tariff of '25 per cent' plus an additional 'penalty' for expanding 'arms and energy' trade with Russia, starting August 1. 'Tariffs in India are among the highest in the World, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any Country,' Trump alleged in his post. Criticizing the move, Pavan Choudary, Chairman of an MNC representative body MTaI, said, 'Trump's announcement today on Truth Social declaring steep tariffs on India from August 1 is troubling and seems economically shortsighted and strategically misguided.' 'This move is aimed at partners, not a rival and such missteps could shift Indo-US ties from cooperation to caution,' he added. Over the additional unspecified penalties announced by Trump, Choudary said, 'As a sovereign nation, India makes independent choices and attempting to punish these decisions through coercive trade measures is not only inappropriate but also counterproductive. Meanwhile, the Union Commerce Ministry in a statement noted, 'the government is studying the implications of the US President statement on bilateral trade and will take all steps necessary to secure national interest.' The announcement has been made ahead of the August 1 deadline for the pause on reciprocal tariffs, which the country administration had introduced to give countries time to negotiate trade agreements. So far, the two countries have engaged in five rounds of talks discussing various sectoral trade terms and a delegation from the US is set to arrive in India for the sixth round slated for August 25. The new measures would push import duties on the industry to as high as 35 percent, including the 10 per cent base duty introduced on April 2 and the recently announced additional 25 per cent tariff. Until now, medical devices from India were not subject to any tariffs in the US while imports to India attract a basic customs duty (tariffs) of 0-7.5 per cent. Notably, India has a high-import dependency in the medical devices sector and around 80-85 per cent of total device requirement is met through Imports where US-based companies have a sizeable share. According to the Exports Promotion Council of Medical Devices, in FY 2023-24, India's exported $714.38 million (around ₹6000 crore) worth of medical devices to the US, while imports from the US to India were more than double at $1,519 million (around ₹12,900 crore). Earlier this year, the US Trade Representative (USTR) in a report outlined that certain compliance requirements in India are burdensome and a fact sheet issued by the White House noted, 'If these barriers were removed, US exports could rise by at least $5.3 billion annually.' Another industry voice Rajiv Nath Forum Coordinator of an domestic device makers body AiMeD suggest, such steep tariffs will definitely provide protection to US based manufacturers and for products in low risk, high volume category where manufacturing had been moved from US and Indian players have a natural competitive advantage may see reverse investments into US.
Time of India
a day ago
- Science
- Time of India
NISAR a milestone in Indo-US space ties; space minister says sat will be a ‘game changer in disaster management'
NEW DELHI: The successful launch of the world's most expensive and unique earth observation satellite NISAR, jointly developed by US and Indian scientists over a decade, has given a big push to Indo-US space cooperation and has been hailed as a milestone in space collaboration between the two countries under the leadership of US President Donald Trump and Prime Minister Narendra Modi. Wednesday's launch came weeks after Nasa and Isro successfully collaborated on the Axiom-4 mission, under which Indian astronaut Shubanshu Shukla was sent to the International Space Station for microgravity experiments. Congratulating Isro and Nasa, space minister Jitendra Singh called the NISAR mission a 'game changer in precise management of disasters'. In a post on X, he said: 'NISAR's capacity to penetrate through fogs, dense clouds, ice layers, etc., makes it a pathbreaking enabler for the aviation and shipping sectors. The inputs from NISAR will benefit the entire world community…in the true spirit of 'Vishwabandhu'.' He also expressed pride in being 'associated with the Department of Space at a time when Isro is registering one global milestone after the other'. Isro chairman V Narayanan said NISAR 'has brought the two agencies closer than ever before'. Though Nasa began studying concepts for a Synthetic Aperture Radar (SAR) mission, inspired by the National Academy of Sciences' decadal survey of the agency's Earth science program in 2007, the US chose to collaborate with India for a huge SAR-based satellite, signing a formal agreement for the NISAR programme in 2014. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Activate Your Antivirus License Click Here Undo The then Nasa administrator Charles Bolden and then Isro chairman K Radhakrishnan signed the pact for production and launch of NISAR in Toronto on Sept 30, 2014. Before 2014, US and India had collaborated on a slew of space missions, including the Chandrayaan-1 mission, under which saw Nasa sent its payload (Moon Mineralogy Mapper) on board Isro's spacecraft for the moon mission, which played a crucial role in finding water on Moon. But the NISAR programme is said to be the first big-ticket ($1.5 billion) satellite mission invested in by both sides. Nasa has contributed L-Band SAR, a high-rate telecommunication subsystem, GPS receivers and a deployable 12-metre unfurlable antenna. Isro, on its part, has provided S-Band SAR payload, the spacecraft bus to accommodate both payloads, GSLV-F16 launch vehicle and all associated launch services.
United News of India
a day ago
- Science
- United News of India
GSLV-F16 with Indo-US NISAR satellite lifts off from SHAR Range
Sriharikota (AP), July 30 (UNI) India's heavy rocket GSLV-F16 carrying the 2,392 kg Indo-US Joint Earth Observation satellite NISAR (NASA-ISRO Synthetic Aperture Radar), lifts off from the SHAR Range here at 1740 hrs this evening. After a smooth 27.5 hr countdown, the 51.70 m tall three-stage rocket with a lift off mass of 420.5 tons, took off majestically from the Second Launch Pad, with a rumble that shook the earth. MORE UNI VJ GV 1740
