Latest news with #PwCIndia
Perth Now
13 minutes ago
- Business
- Perth Now
Trump says US to impose 25 per cent tariff on India
US President Donald Trump has imposed a 25 per cent tariff on goods imported from India starting on August 1, along with an unspecified penalty for buying Russian weapons and oil. The US decision singles out India more severely than other major trading partners, and threatens to unravel months of talks between the two countries, undermining a key strategic partner of the United States. "While India is our friend, we have, over the years, done relatively little business with them because their Tariffs are far too high, among the highest in the World, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any Country," Trump wrote in a Truth Social post. "They have always bought a vast majority of their military equipment from Russia, and are Russia's largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE — ALL THINGS NOT GOOD!" The Indian government said in a statement on Wednesday it had taken note of the US bilateral trade tariff decision and added that it was studying its implications. The White House has previously warned India about its high average applied tariffs - nearly 39 per cent on agricultural products - with rates climbing to 45 per cent on vegetable oils and about 50 per cent on apples and corn. Russia continued to be the top oil supplier to India during the first six months of 2025, making up 35 per cent of overall supplies. The US currently has a $US45.7 billion ($A70.3 billion) trade deficit with India. The news pushed the Indian rupee down 0.4 per cent to about 87.80 against the US dollar in the non-deliverable forwards market, from its close at 87.42 during market hours. "Higher tariffs for India compared to countries it competes with, for exports to the US, are going to be challenging," said Ranen Banerjee, a partner of economic advisory services at PwC India. US and Indian negotiators had held multiple rounds of discussions to resolve contentious issues, particularly over market access into India for US agricultural and dairy products. Despite progress in some areas, Indian officials resisted opening the domestic market to imports of wheat, corn, rice and genetically modified soybeans, citing risks to the livelihood of millions of Indian farmers. The US had flagged concerns over India's increasing and burdensome import-quality requirements, among its many barriers to trade, in a report released in March. The new tariffs are expected to affect India's goods exports to the US, estimated at about $US87 billion in 2024, including labour-intensive products such as garments, pharmaceuticals, gems and jewellery and petrochemicals. India joins a growing list of countries facing higher tariffs under Trump's "Liberation Day" trade policy, aimed at reshaping US trade relations by demanding greater reciprocity. The setback comes despite earlier commitments by Prime Minister Narendra Modi and Trump to conclude the first phase of a trade deal by the northern hemisphere autumn 2025 and expand bilateral trade to $US500 billion by 2030, from $US191 billion in 2024. Indian officials have previously indicated that they view the US as a key strategic partner, particularly in counterbalancing China. But they have emphasised the need to preserve policy space on agriculture, data governance and state subsidies. It was not immediately clear whether the announcement was a negotiating tactic. "I think President Trump is frustrated with the progress we've made with India but feels that a 25 per cent tariff will address and remedy the situation in a way that's good for the American people," White House economic adviser Kevin Hassett said on Wednesday. "While the negotiations seems to have broken down, we don't think the trade-deal haggling between the two nations is over yet," Madhavi Arora, an economist at Emkay Global, said.
Hans India
2 days ago
- Business
- Hans India
India sees 21 pc rise in deal volumes in first half of 2025: Report
India's deal landscape witnessed a strong start this year with both mergers and acquisitions and private equity activity gaining momentum in the first half (H1 CY25), outperforming the same period in 2024, a report said on Monday. The total deal volumes rose by 21 per cent and announced deal values grew by 9 per cent in the first six months compared to H1 CY24, signalling sustained investor confidence and strategic corporate activity despite a volatile second quarter, according to PwC India's latest report. M&A activity recorded a 23 per cent increase in H1 CY25 versus H1 CY24, driven by a flurry of transactions in the first quarter of 2025 (Q1 CY25) before experiencing a more cautious environment in Q2 CY25 as corporates recalibrated strategies. "Domestic M&A transactions climbed 25 per cent, while cross‑border M&A grew by 18 per cent. The outbound transactions surged by 50 per cent, highlighting Indian corporates' growing appetite for international expansion," the report said. Private equity investments rose by 20 per cent, underscoring resilience in the sector and ongoing momentum and confidence in India's growth story. 'Despite a dip in market activity this quarter, investor confidence in private equity remains strong, showcasing resilience and adaptability amidst economic challenges and opportunities," said Shashank Jain, Partner and Leader-Deals, PwC India. We are seeing funds take a long‑term view, with increased interest in sectors such as healthcare, renewables and technology, setting the stage for a diversified deal pipeline in the months ahead, he added. According to the report, the retail and consumer sectors led deal volumes with consolidation through startup acquisitions, while financial services dominated in deal value. Technology, pharma, healthcare and real estate displayed targeted investment strategies anchored in sustainability and innovation. Meanwhile, healthcare and pharma benefited from expansion and consolidation initiatives, while real estate momentum continued, supported by favourable policies and heightened interest in data centres and warehouses, the report stated.
Yahoo
2 days ago
- Business
- Yahoo
PwC India opens new office in Gurugram
PwC India has inaugurated a new office in Gurugram, which is its sixth location in the National Capital Region (NCR). The facility, situated in DLF Downtown 4, covers an area of 125,000ft² and is intended to support the firm's increasing workforce in the area. This expansion raises PwC India's total capacity in the NCR to nearly 8,000 employees, contributing to a national workforce of around 30,000 across 20 sites. The new office is designed to include spaces for innovation, client engagement, and collaboration, aimed at enhancing service delivery and addressing complex client needs, the accounting giant said in its press statement. Sanjeev Krishan, chairperson, PwC in India, said: 'The opening of our sixth office in the NCR region represents the continued demand of our services and trust of our clients. As a people business, our offices are always centered around our clients and employees. 'Our new office has been designed as an open, flexible, Gen Z friendly workspace created to challenge the conventions of traditional workplaces. The contemporary workplace design and bold interiors that are aligned with our refreshed brand identity, will support balance, collaboration, and innovation—giving our people what they need to thrive and bring their best every day, and our clients the experience they expect.' Krishan added: 'The NCR offers a vibrant professional ecosystem that aligns perfectly with PwC India's ambitious growth and innovation objectives. By expanding in the dynamic hub of Gurugram, we are making a long-term investment in our promising future—one that will help us grow and go further by continually attracting the best talent from this region.' In addition to the Gurugram office, PwC India has plans for further growth, with two new offices set to open in Mumbai in 2025. This initiative, according to the company, is part of its strategy to strengthen its operations in the financial centre of the country, allowing employees greater flexibility in choosing their workplace while improving client service across India. "PwC India opens new office in Gurugram" was originally created and published by International Accounting Bulletin, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Mint
2 days ago
- Business
- Mint
Indias investment activity declined in Q2 CY, pvt equity investment down by 26% in value: PwC Report
New Delhi [India], : India witnessed a slowdown in deal investment activity in the second quarter of calendar year 2025, with both volume and value showing a decline, according to a recent report by PwC India. The report highlighted that after reaching a high of 867 deals in the first quarter, deal activity fell by 20 per cent to 697 deals in Q2 2025. In terms of value, deals dropped by 22 per cent, from USD 33.5 billion in Q1 to USD 26.2 billion in Q2. It stated "After the high of 867 deals in the previous quarter, deal activity fell by 20 per cent to 697 volume wise and 22 per cent value wise". Mergers and acquisitions took a major hit during the quarter. The number of M&A transactions dropped to 300 from 413 in the previous quarter, showing a sharp 27 per cent decline. This marks the largest quarterly drop in the last six quarters, ending the positive growth trend that had begun in Q1 2024. Private equity investment deals also declined to 397 in Q2 2025, a 13 per cent decrease from 454 deals in the previous quarter. In terms of value of deals, both M&A and PE showed declining trends quarter-on-quarter. M&A transactions reached USD 15.2 billion, down by 18 per cent from USD 18.6 billion in Q1 2025. On the other hand, the private equity investments also saw a noticeable decline. The report stated "PE investments faced a notable decline, with deal values falling to USD 10.9 billion from USD 14.8 billion in Q1 CY25. This is a 26 per cent decrease from the previous quarter". It also showed a 6 per cent drop compared to USD 11.6 billion in Q2 2024, indicating more caution in the PE space. Among sectors, the retail and consumer segment continued to lead in terms of volume with 116 deals. However, the total deal value in the sector was USD 1.4 billion, pointing to smaller ticket sizes. The financial services sector recorded only 47 deals but had the highest deal value at USD 4.1 billion, thanks to larger transactions. The technology sector followed with 99 deals worth USD 1.5 billion, while the pharmaceutical sector, despite having just 30 deals, posted a high deal value of about USD 4 billion. Overall, while M&A activity shows some year-over-year strength, the private equity space seems to be facing a period of tighter investment decisions and increased risk review. This article was generated from an automated news agency feed without modifications to text.
Yahoo
6 days ago
- Business
- Yahoo
PwC India expands presence with sixth office in Gurugram
PwC India, a subsidiary of the UK-based consulting multinational PwC, opened its sixth office in DLF Downtown 4, Gurugram. The expansion increases the firm's capacity in India's National Capital Region (NCR) to nearly 8,000 people, while nationally it employs 30,000 across 20 locations. The office will feature innovation hubs, client experience zones, and collaborative spaces, enhance service delivery and support the firm's multidisciplinary approach to solving complex problems and creating disruptive value for its clients. 'The opening of our sixth office in the NCR region represents the continued demand for our services and the trust of our clients. As a people business, our offices are always centred around our clients and employees.", Sanjeev Krishan, chairperson of PwC India, said. "The contemporary workplace design and bold interiors that are aligned with our refreshed brand identity will support balance, collaboration, and innovation, giving our people what they need to thrive and bring their best every day, and our clients the experience they expect.' He added: 'The NCR offers a vibrant professional ecosystem that aligns perfectly with PwC India's ambitious growth and innovation objectives. By expanding in the dynamic hub of Gurugram, we are making a long-term investment in our promising future—one that will help us grow and go further by continually attracting the best talent from this region.' PwC India is also planning further expansion of its operational footprint, with two new offices slated to open in Mumbai in 2025. The move reflects the firm's ongoing efforts to strengthen its presence in the country's financial hub, offering flexibility to employees to work out of their preferred office locations in the city and better serve clients across the country. "PwC India expands presence with sixth office in Gurugram" was originally created and published by Investment Monitor, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
