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Time of India
03-06-2025
- Business
- Time of India
India to benefit from supply-chain shifts due to ongoing tariff tensions: Nomura
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel India will be among the first Asian countries to sign a trade deal with the United States, enabling it to lower its reciprocal tariff to 10%, which is below the tariff rate on China, according to Nomura.'This should provide India with a tariff advantage over its competitors, leading to benefits from trade diversion and supply-chain shifts ,' the rating agency said on Tuesday. India will be a 'key beneficiary' of the ongoing supply-chain shifts, it US imposed a tariff of 26% on Indian imports in April. India is currently negotiating a trade deal with the US. The US commerce secretary Howard Lutnick on Monday said that a trade deal between two countries could be reached in the "not-too-distant future".Negotiations with Japan, Korea and Taiwan are also progressing well, said gross domestic product (GDP) grew to a four-quarter high of 7.4% in Q4 of FY25, leading to a full-year growth of 6.5%, according to official data released last projects GDP growth of 6.2% for FY26, higher than the earlier forecast of 5.8% and below the Reserve Bank of India's (RBI) forecast of 6.5%.'We expect India to outperform its more open Asian peers during the current cycle, given its more domestic demand-driven economy,' it the inflation front, the rating agency projects a subdued 3.3% in FY26 compared to 4.5% in FY25.A strong winter crop output, lower pulses inflation due to higher supply, lower agricultural input costs and potentially favourable monsoon should reduce food inflation, according to expects the central bank's monetary policy committee (MPC) to deliver 100 basis points of rate cuts to a terminal rate of 5% this year, with 25bps cuts in each June, August, October and December meeting. The MPC is set to meet next from June 4 to 6.
Time of India
15-05-2025
- Automotive
- Time of India
Japan's Nikkei slides for second day as strong yen weighs
Japan's Nikkei share average dropped for a second day on Thursday, extending its retreat from a nearly three-month peak, as a stronger yen sent automaker shares sliding. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Japan's Nikkei share average dropped for a second day on Thursday, extending its retreat from a nearly three-month peak, as a stronger yen sent automaker shares Nikkei sank 1% to 37,755.51 as of the close, as the yen strengthened for a third day, eroding the value of Japanese exporters' overseas broader Topix fell 0.9%, also a second session of Nikkei had rallied 25% between a low on April 7 and the high on Tuesday, partly as optimism built for a spate of U.S. trade deals that would remove the risk of a global recession."The run-up in the Nikkei had been very fast, and we're still at a very high level," said Maki Sawada, a strategist at Nomura."Investors are cautious that there is still a degree of overheating in the market."Transport equipment was the worst performer among the Tokyo Stock Exchange's industry groupings, dropping 2.8%.Toyota tumbled 3.4%, while Honda and Nissan each slumped 3.9%.Overnight news that U.S. and South Korean officials met last week to discuss the exchange rate ignited speculation that Washington may seek a weaker exchange rate for the dollar as part of trade negotiations with Asian Korean won surged as a result, pulling the yen along in its exporters were also weak, with Sony losing 2.8% and Nintendo slipping 2.2%.Uniqlo owner Fast Retailing fell 1.5% to be the biggest points drag on the Nikkei due to its heavy the Nikkei's 225 components, 147 fell and 76 rose, with two was a bright spot, jumping 2.4% to be far and away the best performing TSE industry group, as a thaw in Sino-U.S. trade relations boosted the outlook for cargo traffic.
