Latest news with #PoliticalEconomyResearchInstitute
The Hindu
27-06-2025
- Automotive
- The Hindu
Can India become a leader in EV technology and manufacturing?
In this episode of The Climate Economy from The Hindu, host Kunal Shankar explores India's push for transport electrification. On June 2, India announced a concessional 15% import duty on fully built electric passenger cars—if manufacturers invest ₹4,150 crore locally. With localization targets and capped imports, the policy aims to boost domestic EV production. But does it go far enough to scale up EV adoption and, more critically, battery manufacturing? Kunal discusses these questions with Prof. Shouvik Chakraborty of UMass Amherst's Political Economy Research Institute. Presentation: Kunal Shankar Editing: Aniket Singh Chauhan Video: Shivaraj S
Yahoo
02-05-2025
- Business
- Yahoo
Recent mass layoffs show ‘concern' for economic outlook, says local economist
RUTHERFORD COUNTY, Tenn. (WKRN) — Recent layoffs in Rutherford County are likely a sign of more economic troubles ahead, according to a local economist. In April, more than 400 workers were laid off from a fulfillment center in La Vergne. Before that, Bridgestone announced the closure of their La Vergne manufacturing facility, resulting in the loss of about 700 local jobs. 'When you see a decline in investment, when you see factories laying off workers or cutting back on investment, it's definitely a concern,' said Dan Smith, director of the Political Economy Research Institute at Middle Tennessee State University. More than 400 workers to be laid off from La Vergne fulfillment center Smith explained that more job losses will come in three waves — a reaction to President Trump's tariffs. 'The second wave is going to be those factories in Middle Tennessee that need to import inputs. Those firms are going to be hurt by those higher costs, they're going to have to raise prices, they're going sell less of their goods and services, and they're going to have to restrict employment,' Smith said. 'The third wave of job loss we should expect is the investment channel [to our state].' In addition, Smith said that any economic gains from tariffs will be short-lived. More layoffs are coming in the future. The number of Americans filing for jobless claims hits highest level in a year 'A Goldman Sachs report that was just looking at the 10% tariffs, assuming no recession and no retaliation, estimates that America will lose 5 jobs for every 1 job saved by tariffs,' Smith said. Another sign of trouble: Tennessee's sales tax revenue—which funds most of the state's budget— dropped about 3% compared to last March, according to a recent report from the General Assembly's Fiscal Review Committee. The state's total tax revenue went down more than 4% compared to last March, and the state is now $10 million short of its tax revenue target through the first eight months of the 2025 fiscal year. ⏩ All that to say: with so much economic uncertainty, consumers are spending less right now. When asked for signs of optimism, Smith said it's where we live. He believes Middle Tennessee is well equipped to handle turnover in our workforce thanks to the state's robust job market. 'There's a lot of service sector jobs, serving other Americans, that are widely available and can be better sheltered from international trade disturbances,' Smith concluded. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
