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Canada News.Net
03-08-2025
- Business
- Canada News.Net
India's economic strength will withstand US tariff shock, sectoral experts speak in one voice
New Delhi [India], August 1 (ANI): Experts from across Indian industries have expressed confidence in the resilience of the Indian economy amid the US President Donald Trump's decision to impose a 25 per cent tariff on Indian goods, describing the move as impactful in the short term but unlikely to dent India's long-term economic growth story. Reacting to the tariff hike announced by President Trump, Sushil Mohta, Chairman of the Kolkata-based real estate player Merlin Group, said India's robust economy would absorb the shock with minimal long-term disruption. 'I don't think it will make a huge difference. Our economy is very strong today, India is the fourth-largest economy in the world,' Mohta told ANI. 'The common people in India work very hard. Our growth is driven by that effort, not dependent on the policies of any one country.' He pointed to the relatively muted response in domestic stock markets as proof of the economy's strength. 'If there were a major global disruption, we would have seen an immediate reflection in the markets. That hasn't happened,' he noted. On the issue of trade exposure, Mohta said that India's economy is not overly reliant on the US or any single country. From the agriculture sector, Dev Garg, Vice President of the Indian Rice Exporters Federation (IREF), noted that the US tariff move was 'concerning' for rice exporters. 'Last year, India exported around Rs 3,100 crore worth of Basmati and non-Basmati rice to the US. This year, we've only managed Rs 833 crore so far,' he said. However, Garg also viewed the latest tariff development with cautious optimism. 'This could be a blessing in disguise. Thailand and Pakistan, our two key competitors in the US rice market, face 19 per cent tariffs, while India now faces 25 per cent -- just a 6 per cent gap,' he explained. Expecting the depreciation of the Indian Rupee and anticipated deflationary trends in domestic prices, Indian rice could still remain competitive. 'We have record surplus stocks and a weaker rupee at Rs 88 per dollar. These factors may help us offset the tariff burden and possibly even surpass last year's export figures,' he added. Meanwhile, Niranjan Hiranandani, Chairman of the National Real Estate Development Council (NAREDCO), dismissed President Trump's remarks on India's economy being 'dead,' a comment echoed by Congress leader Rahul Gandhi. 'India is currently the fastest-growing major economy with a GDP growth rate of 6.2 per cent to 6.7 per cent. There's no question of it (Indian economy) being weak,' Hiranandani said. 'We are strengthening self-reliance across defence, agriculture, and manufacturing. The ambition is clear (that) India must become truly self-sufficient,' he added. Over the past few months, India and the US have been negotiating for an interim trade deal, but there were some reservations from the Indian side on the US demand for opening up the agricultural and dairy sectors for the US. Agriculture and dairy are critical for India as these two sectors provide livelihood opportunities to a large section of its people. On Wednesday, President Trump announced the imposition of 25 per cent tariffs on Indian goods plus an unspecified 'penalty', even as there were hopes of an interim India-US trade deal that would have otherwise helped avoid elevated tariffs. India and the US initiated talks for a just, balanced, and mutually beneficial Bilateral Trade Agreement (BTA) in March this year, aiming to complete the first stage of the Agreement by October-November 2025. On April 2, 2025, President Trump signed an executive order for reciprocal tariffs on various trade partners, imposing varied tariffs in the range of 10-50 per cent. He subsequently kept the tariffs in abeyance for 90 days, while imposing a 10 per cent baseline tariff. The deadline was to end on July 9, and the US administration later pushed it ahead to August 1. US President Donald Trump had imposed reciprocal tariffs on dozens of countries with which the US has a trade deficit. Since assuming office for his second term, President Trump has reiterated his stance on tariff reciprocity, emphasising that the United States will match tariffs imposed by other countries, including India, to 'ensure fair trade'. On Thursday evening, Commerce and Industry Minister Piyush Goyal made a statement in both houses of the Parliament, stating that the government is examining the impact of tariffs and will take all necessary steps to safeguard the national interest. (ANI)
Times of Oman
02-08-2025
- Business
- Times of Oman
India's economic strength will withstand US tariff shock, sectoral experts speak in one voice
New Delhi: Experts from across Indian industries have expressed confidence in the resilience of the Indian economy amid the US President Donald Trump's decision to impose a 25 per cent tariff on Indian goods, describing the move as impactful in the short term but unlikely to dent India's long-term economic growth story. Reacting to the tariff hike announced by President Trump, Sushil Mohta, Chairman of the Kolkata-based real estate player Merlin Group, said India's robust economy would absorb the shock with minimal long-term disruption. "I don't think it will make a huge difference. Our economy is very strong today, India is the fourth-largest economy in the world," Mohta told ANI. "The common people in India work very hard. Our growth is driven by that effort, not dependent on the policies of any one country." He pointed to the relatively muted response in domestic stock markets as proof of the economy's strength. "If there were a major global disruption, we would have seen an immediate reflection in the markets. That hasn't happened," he noted. On the issue of trade exposure, Mohta said that India's economy is not overly reliant on the US or any single country. From the agriculture sector, Dev Garg, Vice President of the Indian Rice Exporters Federation (IREF), noted that the US tariff move was "concerning" for rice exporters. "Last year, India exported around Rs 3,100 crore worth of Basmati and non-Basmati rice to the US. This year, we've only managed Rs 833 crore so far," he said. However, Garg also viewed the latest tariff development with cautious optimism. "This could be a blessing in disguise. Thailand and Pakistan, our two key competitors in the US rice market, face 19 per cent tariffs, while India now faces 25 per cent -- just a 6 per cent gap," he explained. Expecting the depreciation of the Indian Rupee and anticipated deflationary trends in domestic prices, Indian rice could still remain competitive. "We have record surplus stocks and a weaker rupee at Rs 88 per dollar. These factors may help us offset the tariff burden and possibly even surpass last year's export figures," he added. Meanwhile, Niranjan Hiranandani, Chairman of the National Real Estate Development Council (NAREDCO), dismissed President Trump's remarks on India's economy being "dead," a comment echoed by Congress leader Rahul Gandhi. "India is currently the fastest-growing major economy with a GDP growth rate of 6.2 per cent to 6.7 per cent. There's no question of it (Indian economy) being weak," Hiranandani said. "We are strengthening self-reliance across defence, agriculture, and manufacturing. The ambition is clear (that) India must become truly self-sufficient," he added. Over the past few months, India and the US have been negotiating for an interim trade deal, but there were some reservations from the Indian side on the US demand for opening up the agricultural and dairy sectors for the US. Agriculture and dairy are critical for India as these two sectors provide livelihood opportunities to a large section of its people. On Wednesday, President Trump announced the imposition of 25 per cent tariffs on Indian goods plus an unspecified 'penalty', even as there were hopes of an interim India-US trade deal that would have otherwise helped avoid elevated tariffs. India and the US initiated talks for a just, balanced, and mutually beneficial Bilateral Trade Agreement (BTA) in March this year, aiming to complete the first stage of the Agreement by October-November 2025. On April 2, 2025, President Trump signed an executive order for reciprocal tariffs on various trade partners, imposing varied tariffs in the range of 10-50 per cent. He subsequently kept the tariffs in abeyance for 90 days, while imposing a 10 per cent baseline tariff. The deadline was to end on July 9, and the US administration later pushed it ahead to August 1. US President Donald Trump had imposed reciprocal tariffs on dozens of countries with which the US has a trade deficit. Since assuming office for his second term, President Trump has reiterated his stance on tariff reciprocity, emphasising that the United States will match tariffs imposed by other countries, including India, to "ensure fair trade". On Thursday evening, Commerce and Industry Minister Piyush Goyal made a statement in both houses of the Parliament, stating that the government is examining the impact of tariffs and will take all necessary steps to safeguard the national interest.
Associated Press
24-06-2025
- Business
- Associated Press
Cynamics Secures FedRAMP Authorization as a Managed Service on the CGC Platform
The Cynamics AI-enabled Network Detection and Response solution enables U.S. government agencies to proactively predict threats at scale by using less than 1% of network traffic TYSONS CORNER, Va., June 24, 2025 /PRNewswire/ -- CGC , the market readiness and compliance automation affiliate of Merlin Group , announced today that Cynamics , a leading provider of AI-driven network security solutions, has achieved FedRAMP® Authorization as a managed service offering on the CGC platform. The authorization, listed in the FedRAMP Marketplace , paves the way for accelerated adoption of Cynamics' SOC AI technologies across the U.S. Government. The ability for Cynamics SOC AI technologies and its autonomous NDR capabilities to be delivered from CGC's secure cloud environment marks a critical step in improving cyber readiness for federal agencies by enabling the U.S. Government to advance anomaly detection and predictive threat intelligence with minimal network footprint. Agencies can now achieve this while also maintaining full compliance with stringent federal security requirements. 'We're thrilled to bring Cynamics' groundbreaking NDR technology to U.S. government agencies through our managed service ecosystem,' said Josh Beard, General Manager, CGC. 'This milestone demonstrates CGC's commitment to enabling best-in-class cybersecurity innovation at the speed and scale required by mission-critical federal operations.' A Game-Changer for Government Cybersecurity Cynamics offers a fundamentally different approach to network security by leveraging AI and sampling-based techniques to deliver 100% network visibility without deploying intrusive agents or expensive hardware. Government agencies now have direct access to: FedRAMP-authorized threat detection. Rapid deployment and scalability through CGC's containerized, modular cloud environment. Seamless integration with existing federal security stacks and telemetry systems. Supporting Zero Trust and Continuous Diagnostics As the federal government accelerates toward Zero Trust Architecture and continues to operationalize Continuous Diagnostics and Mitigation (CDM), Cynamics provides a proactive and scalable solution to meet these evolving mandates. 'Cynamics' FedRAMP authorization through CGC enables agencies to enhance situational awareness and threat response while maintaining compliance,' said Eyal Elyashiv, CEO, Cynamics. 'Together with CGC, we're delivering AI-based cybersecurity capabilities that are mission-ready on Day 1.' Availability Cynamics is available immediately through the CGC Marketplace at . About CGC CGC, the market readiness and compliance automation affiliate of Merlin Group , provides a platform and marketplace purpose-built to accelerate compliance and revenue for the world's most important technology companies, helping them unlock and facilitate access to highly regulated U.S. Federal, SLED, and commercial markets. This reduces complexity, time, and cost associated with compliance authorization such as FedRAMP and StateRAMP and makes fully compliant technologies accessible to enterprise end users, managed service providers and channel partners through the CGC Marketplace. Learn more at . About Cynamics Cynamics is a leading provider of AI-driven network cybersecurity solutions. The company has developed a groundbreaking SOC AI technology that equips security teams with unmatched visibility, precision, and automation—without the data and resource burdens typical of legacy systems. Utilizing a patented sampling methodology combined with advanced AI, Cynamics delivers real-time threat detection and mitigation at scale. Its innovative solution is already safeguarding critical infrastructure and Tier-1 municipalities across the United States and internationally. Learn more at . View original content to download multimedia: SOURCE Merlin Group
Time of India
25-04-2025
- Business
- Time of India
Kolkata developers partner to build elderly-friendly communities with Bengaluru-based firm
KOLKATA: Real estate developers in Kolkata have partnered with a Bengaluru-based firm that focuses on developing senior living communities. Two developers in Kolkata — Srijan Realty and Merlin Group — have already collaborated with Primus to promote multi-generational living. Primus and Srijan Group announced the development of Primus Ganges at the 26-acre Royal Ganges riverside township project in Maheshtala. Approximately 150 units — a mix of 2BHK and 3BHK — will be developed for senior living in the first phase, with a provision to develop another 150 units in the second phase. You Can Also Check: Kolkata AQI | Weather in Kolkata | Bank Holidays in Kolkata | Public Holidays in Kolkata Primus is also in advanced discussions with two other developers — Merlin Group and Primarc — for similar senior living units in its projects in Rajarhat and elsewhere. These projects, to be announced later this year and early next year, will increase the total number of units for senior living communities to over 1,000. "We are not creating 'vriddhashrams' or old-age homes. Instead, we are creating an opportunity for the elderly to live with their children or independently in these towers. At least one member of the family purchasing flats in these towers must be 55 years old. The children can also stay separately in separate towers in the complex that are not meant to house senior citizens," explained Primus MD Adarsh Narahari . The units in the towers for the elderly will be elderly-friendly and fall-safe with anti-skid vitrified tiles in living areas, anti-skid ceramic tiles in restrooms, utility areas, and balconies to reduce the risk of slips and falls. They will feature wide doors for easy wheelchair and walker access, senior-friendly lever door handles that are easier to grip, restroom doors with outward swing and emergency release features, foldable grab bars near the WC, washbasin, and shower area, shower seats and glass partitions in the master restroom, two-way light switches near the bedside, and footlights for night-time safety. Additionally, there will be sensor lights in the master bedroom and restroom, rounded edges on internal walls to minimise injury from accidental bumps, wooden handrails in passageways, ramps, and lifts, panic alarm buttons in the master bedroom and restroom, nurse calling and an assistant alarm system, as well as emergency call systems in common areas. "Primus will also offer a comprehensive, proactive, and personalised healthcare experience that prioritises active, healthy living. We will take care of five essentials for prolonged ageing: delicious, balanced meals planned by nutritionists; doctor-led wellness and fitness programmes with fall prevention strategies; in-room safety features like remote-control bidets, heated towel rods, automatic commodes, gas leak detectors, wheelchair accessibility, mobility support, anti-skid tiles, and panic alarms; ambulance on campus, medical attention, trained staff; regular community activities to keep elders socially and mentally stimulated; and assistance with everyday tasks for hassle-free living including regular housekeeping, medicine delivery, errand assistance, and travel accompaniment," said Narahari. Srijan Realty Director Keshav Agarwal said Kolkata, with a sizable retired population with children working in other Indian cities or living abroad, needed such a project where the elderly could enjoy their independence while living within a vibrant multi-generational community. "We are trying to create a community that looks after the physical and mental well being of elders," said Agarwal. Merlin MD Sushil Mohta said he would announce the senior project later this year. "It will be part of Merlin Rise development in Rajarhat," said Mohta. Sources said around 400 units could be developed for senior living in the project that will have 7,000 units. Primarc MD Siddharth Pansari said the group could look at two projects with senior living with over 400 units. "We will announce the projects sometime late this year or early next year," he added. While the investment in Royal Ganges will be Rs 125 crore, the investment in all the projects could reach Rs 650 crore by next year.
