Latest news with #Kanpur-based
India Today
a day ago
- Business
- India Today
Kanpur leather industry hit by US tariff hike, Rs 2,000 crore exports stalled
Kanpur's leather industry, a major export hub, is staring at a severe crisis after the United States sharply increased import duties on Indian leather goods to 60%—double the rate imposed on China and far higher than Pakistan (19%) and Bangladesh (20%). Exporters fear the move could wipe out nearly all of Kanpur's annual Rs 2,000 crore leather exports to the SAY BUYERS BACKING OUTJafar Iqbal, a Kanpur-based exporter and factory owner, said shipments have been halted as American buyers withdraw from contracts. 'In May, when tariffs were 10%, we agreed to bear half the cost to retain orders. Now, with the new rates, neither side can afford it. Five of our containers are ready, but we don't know what to do,' he told India Today BLOW FOR THE INDUSTRYNaiyar Jamal, another exporter, said the sector was already struggling under environmental regulations such as Namami Gange before being hit by the tariff hike. Despite mounting losses, he expressed support for the government's stance against US trade TO 10 LAKH JOBS Leather trader Javed Iqbal warned the tariff hike could devastate Kanpur and neighbouring Unnao, where the industry employs nearly 10 lakh people. Lower tariffs for Pakistan, China, Vietnam, and Cambodia are expected to draw away American buyers. 'We stand with the government, even if it means bearing heavy losses in the national interest,' he HALTED DESPITE FESTIVE ORDERSPrerna Verma, a leather accessories exporter, said confusion over the new policy has brought production to a near standstill. Demand in recent years has already fallen to 60% of previous levels, forcing some units to lay off Iraqi, Chairman of the Council for Leather Exports (Central Region), said that although Christmas orders have arrived, production for the US market has been halted. He met Commerce Minister Piyush Goyal in Delhi two to three days ago, where the government discussed possible relief measures—such as interest subsidies—in the case of a 25% tariff. However, with the import duty now set at 50%, such measures are unlikely to suffice. 'Buyers and sellers can manage an extra 5–10% cost but such a steep hike is beyond anyone's capacity," he said.- EndsTune InMust Watch
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Business Standard
2 days ago
- Business
- Business Standard
Tariff turbulence: Tanned hides, tug toys, trade sacks on Trump tightrope
The second in a series focuses on Kanpur's leather hub, pet goods makers, and FIBC exporters walking a fine line under the weight of 50% US duties Kanpur Listen to This Article On an overcast and muggy Friday afternoon, this reporter was walking towards the office of Mohammed Saif, owner of Bestochem, a Kanpur-based company that supplies chemicals for curing and manufacturing leather at tanneries in the city and nearby Unnao. We had just shaken hands and sat down in his modest one-room office to discuss the possible impact of the US' 50 per cent tariff on leather exports when he said, 'Aap galat waqt pe aaye hain' (You have come at the wrong time). This reporter was puzzled. As the mind raced to find reasons why this was a bad time
Time of India
06-08-2025
- Business
- Time of India
Kanpur Warriors join Uttar Pradesh Kabaddi League as new franchise
The Uttar Pradesh Kabaddi League (UPKL) has announced the inclusion of a new team, Kanpur Warriors , ahead of its second season. The franchise is owned by BA Sports Club LLP and led by entrepreneur Bhumika Vora . The addition of the Kanpur-based team is part of the league's ongoing effort to grow kabaddi across the state. UPKL, owned and operated by SJ Uplift Kabaddi, is expanding into regions with a strong tradition in the sport. Kanpur, known for its kabaddi culture and active youth participation, is seen as a natural fit. 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 'UPKL was always envisioned as a launchpad for grassroots athletes, transforming kabaddi from a gully sport into a structured professional ecosystem,' said Sambhav Jain, Director and Founder of SJ Uplift Kabaddi. 'Following the extraordinary success of Season 1, welcoming new cities like Kanpur is not just growth; it is our evolution. Kanpur's inclusion strengthens our vision to build a tiered ladder for athletes: from local leagues to UPKL and eventually national and global stages.' UPKL's first season saw strong viewership, reaching over 30 million television viewers according to BARC India, and generating more than 300 million digital impressions. Much of this engagement came from audiences in Tier 2 and Tier 3 cities. Speaking about the new team, Bhumika Vora said, 'Kanpur is a city full of fire, heritage, and underrepresented talent, and with Kanpur Warriors, we now have a platform to showcase, build, and grow. Through UPKL, we aim to break stereotypes, back our youth, and place kabaddi at the center of Kanpur's sporting identity. The name 'Warriors' reflects not just athletic grit, but the spirit of our people. We are building a platform where kabaddi is a sport of choice, not just an alternative.' Live Events
News18
01-08-2025
- Business
- News18
Trump tariff to impact about half of USD 86 bn Indian exports to US
New Delhi, Aug 1 (PTI) The imposition of a 25 per cent US tariff will impact about half of India's over USD 86 billion worth of exports to America, government sources said on Friday. The sectors which could bear the brunt of 25 per cent duty include textiles/ clothing (10.3 billion), gems and jewellery (12 billion), shrimp (USD 2.24 billion), leather and footwear (USD 1.18 billion), animal products (USD 2 billion), chemicals (2.34 billion), and electrical and mechanical machinery (about USD 9 billion). They said that about half of the goods exported from India to the US are in the exemption category (such as pharma and electronic goods), so, the impact will be only on the remaining half. 'More than half of India's exports to the US will not be impacted by the duty. Due to the Section 232 exemption of the US, only exports worth about USD 48 billion would be impacted with these tariffs," they said, adding the remaining exports will have a little impact on a country with a GDP of about USD 4 trillion and a consumer base of 140 crore. In 2024-25, the bilateral trade between India and the US stood at USD 131.8 billion (USD 86.5 billion exports and USD 45.3 billion imports). According to think tank GTRI, the 25 per cent tariffs will not be applicable on the exempted categories, including finished pharmaceutical drugs, active pharmaceutical ingredients (APIs), and other key drug inputs; energy products such as crude oil, refined fuels, natural gas, coal, and electricity; critical minerals; and a wide range of electronics and semiconductors, like computers, tablets, smartphones, solid-state drives, flat panel displays, and integrated circuits. According to an exporter, apparel sector that exports USD 5.33 billion worth of goods to the US will be the most impacted. Sudhir Sekhri, Chairman, AEPC, said: 'We request immediate government intervention to offset this huge setback. Exporters have their back against the wall and will have to sell below cost to keep their factories running and avoid mass layoffs." Kanpur-based Growmore International Ltd MD Yadvendra Singh Sachan said that exporters should use this opportunity to explore new markets. 'We need to diversify our exports," Sachan said. Federation of Indian Export Organizations (FIEO) Director General Ajay Sahai said that the US order provides relaxation for goods in transit and those loaded on ship for final sailing to the US by August 7. US President Donald Trump unveiled sweeping new tariffs on dozens of countries, including 25 per cent duties for goods from India, marking a new era of American protectionism that triggered fresh tensions and concerns over a much wider disruption in the global trade landscape. The US president signed an executive order that raised tariffs for over five dozen countries, with Washington's negotiations for trade deals going down to the wire ahead of the August 1 deadline. In the Executive Order titled 'Further Modifying The Reciprocal Tariff Rates', Trump announced tariff rates for nearly 70 nations. With America, India had a trade surplus (the difference between imports and exports) of USD 41 billion in 2024-25. It was USD 35.32 billion in 2023-24 and USD 27.7 billion in 2022-23. In 2024, India's main exports to the US included drug formulations and biologicals (USD 8.1 billion), telecom instruments (USD 6.5 billion), precious and semi-precious stones (USD 5.3 billion), petroleum products (USD 4.1 billion), vehicle and auto components (USD 2.8 billion), gold and other precious metal jewellery (USD 3.2 billion), ready-made garments of cotton, including accessories (USD 2.8 billion), and products of iron and steel (USD 2.7 billion). Imports included crude oil (USD 4.5 billion), petroleum products (USD 3.6 billion), coal, coke (USD 3.4 billion), cut and polished diamonds (USD 2.6 billion), electric machinery (USD 1.4 billion), aircraft, spacecraft and parts (USD 1.3 billion), and gold (USD 1.3 billion). India's merchandise exports to the US rose 22.8 per cent to USD 25.51 billion in the April-June quarter this financial year, while imports rose 11.68 per cent to USD 12.86 billion. PTI RR CS HVA (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: August 01, 2025, 19:30 IST News agency-feeds Trump tariff to impact about half of USD 86 bn Indian exports to US Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Hindustan Times
03-07-2025
- Hindustan Times
Gang making fake educational documents busted; 2 arrested
Noida Two Kanpur-based men were arrested on Wednesday for allegedly creating fake marksheets and other forged educational documents, charging between ₹ 80,000 and ₹ 2 lakh for each, police said. Police said that 66 fake marksheets, seven migration certificates, two laptops, two printers, seven mobile phones, and other forged documents were recovered from their possession. (Sunil Ghosh/HT Photos) 'We had been receiving tip-offs over the past few days about a gang involved in making fake documents, including marksheets, operating in Noida. Based on the information, we traced the suspects — Abhimanyu Gupta (40) and Dharmendra Gupta (42), both natives of Kanpur,' said the Station House Officer (Phase 1 police station) Amit Kumar. The SHO added, 'The suspects were living in rented accommodations in Sector 100 and Sector 99 of Noida and were running their fake documentation operation from Sector 1.' The investigation revealed that individuals who needed fake marksheets and other educational documents for job applications or higher education would approach the duo. 'They had been running this illegal business for the past six years, charging between ₹ 80,000 and ₹ 2 lakh for providing forged documents,' said Deputy Commissioner of Police, Yamuna Prasad. He added that the accused used to download data from Google to create fake copies resembling original documents. The suspects were booked under Sections 318(4) (cheating), 338 (forgery of valuable security), 336 (forgery), and 340 (forged electronic documents) of the Bharatiya Nyaya Sanhita at the Phase 1 police station. Police said that 66 fake marksheets, seven migration certificates, two laptops, two printers, seven mobile phones, and other forged documents were recovered from their possession. Additionally, two cars used by the suspects were also seized.
