Latest news with #RahulMehta
Business Insider
3 days ago
- Business
- Business Insider
Walmart Halts Indian Shipments after Trump Tariffs Lead to Rocketing Costs
U.S. retailers, including Walmart (WMT), are believed to be scrambling around to find alternative suppliers after President Trump imposed a 50% tariff on Indian goods this week. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Exporter Discussions According to India's NDTV Profit, 'several exporters' have claimed that brands are having discussions with them to 'find alternatives and options if we have any additional capacities in regions with lower tariffs.' The report said that Indian exporters have been requested, in letters and emails sent by American buyers to pause shipments of apparel and textiles until further notice. Names in the frame reportedly included Walmart, Amazon (AMZN) and Target (TGT) The U.S. is the largest export destination for India's clothing industry. Indeed, it accounted for 28% of total textiles and apparel exports valued at $36.61 billion in the 12 months to March 2025. India has a long history of being a crucial supplier for Walmart's fashion ranges. Back in 2002, Walmart Global Sourcing opened an office in Bengaluru, allowing Indian manufacturers to provide Walmart stores with goods from the US, Canada, Mexico, Central America and the U.K. Walmart said earlier this year that it is expanding its supplier development program in India, to include more micro, small and medium-sized businesses (MSMEs) over the course of the next three years. Cost Hikes Complicating that plan, however, are Trump's higher tariffs, which are expected to increase costs by 30% to 35%, and could also lead to a 40% to 50% drop in U.S.-bound orders. One exporter said his U.S. buyer has asked him to stop a shipment of cotton T-shirts and dresses worth $80,000, as it was 'not possible to pass the extra costs' on to their clients. 'The tariff will increase the cost of Indian apparel compared to alternatives from countries like Bangladesh and Vietnam,' Rahul Mehta, the chief mentor of the Clothing Manufacturers Association of India, which represents around 20,000 manufacturers and exporters, said. 'Why would anyone pay such high rates? It's a very stressful situation. Not only have existing shipments stopped, but we could also see a big drop in export orders.' Walmart has also been feeling the pressure of tariffs at home, having to hike prices and endanger its status as a value retailer. However, as one can see above, its share price has held up well despite the added stress. Is WMT a Good Stock to Buy Now? On TipRanks, WMT has a Strong Buy consensus based on 28 Buy ratings. Its highest price target is $120.
NDTV
3 days ago
- Business
- NDTV
US Retailers Weigh Options As Donald Trump Doubles India Tariff To 50%
New Delhi: Major US retailers have started discussions with Indian textile exporters after US President Donald Trump imposed a 50 per cent tariff on Indian goods, several exporters told NDTV Profit on Friday. The US is the largest export destination for India's textile and apparel industry. The country accounted for 28 per cent of total textiles and apparel exports valued at $36.61 billion in the fiscal year that ended March 2025. Higher tariffs are expected to increase costs by 30 per cent to 35 per cent, and could also lead to a 40 per cent to 50 per cent drop in US-bound orders, causing about $4-5 billion loss. "Brands are having discussions with us to find alternatives and options if we have any additional capacities in regions with lower tariffs," the management at Gokaldas Exports told NDTV Profit. An exporter based in Tamil Nadu's Tiruppur, a global textile manufacturing centre, said his US buyer has asked him to stop a shipment of cotton T-shirts and dresses worth $80,000, as it was "not possible to pass the extra costs" on to their clients. "They want us to lower the price," he said on condition of anonymity, citing business concerns. Some exporters also said they might offer some discounts to avoid an inventory pile-up. India is the sixth-largest exporter of textiles and apparel in the world. With higher tariffs on Indian goods, the US retailers may move to Bangladesh and Vietnam, which face a 20 per cent tariff. "The proposed 50 per cent tariff will increase the cost of Indian apparel by 30 to 35 per cent compared to alternatives from countries like Bangladesh and Vietnam," Rahul Mehta, the chief mentor of the Clothing Manufacturers Association of India, which represents around 20,000 manufacturers and exporters, said. "Why would anyone pay such high rates? It's a very stressful situation... Not only have existing shipments stopped, but we could also see a big drop in export orders, potentially leading to factory closures and unemployment," he added. Trump's Tariffs On India Donald Trump has imposed a 50 per cent tariff on India, including 25 per cent that kicked in on Thursday and another 25 per cent due to come into effect on August 28 as a penalty for buying Russian oil. "I determine that it is necessary and appropriate to impose an additional ad valorem duty on imports of articles of India, which is directly or indirectly importing Russian Federation oil," he wrote in an executive order signed on Wednesday. India said the US tariffs were "unfair, unjustified and unreasonable". "The United States has in recent days targeted India's oil imports from Russia. We have already made clear our position on these issues, including the fact that our imports are based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India," the Ministry of External Affairs said in a statement. It said it was "extremely unfortunate" that the US has chosen to impose additional tariffs on India for actions that "several other countries are also taking in their own national interest". "India will take all actions necessary to protect its national interests," it added. Two days before Mr Trump's tariffs announcement, New Delhi said it began importing oil from Russia because "traditional supplies were diverted" to Europe after the outbreak of the Ukraine conflict in February 2022. "The United States at that time actively encouraged such imports by India for strengthening global energy markets stability," the Ministry of External Affairs said in a strongly worded statement. "India's imports are meant to ensure predictable and affordable energy costs to the Indian consumer. They are a necessity compelled by global market situation. However, it is revealing that the very nations criticising India are themselves indulging in trade with Russia. Unlike our case, such trade is not even a vital national compulsion," it said. The Ministry stated that the US "continues" to import from Russia uranium hexafluoride for its nuclear industry, palladium for its EV industry, fertilisers, as well as chemicals. It also said the European Union, which has also "targeted" India for importing Russian oil, had a bilateral trade of Euro 67.5 billion in goods with Moscow in 2024. "In addition, it had trade in services estimated at Euro 17.2 billion in 2023. This is significantly more than India's total trade with Russia that year or subsequently. European imports of LNG in 2024, in fact, reached a record 16.5mn tonnes, surpassing the last record of 15.21mn tonnes in 2022," it said. "In this background, the targeting of India is unjustified and unreasonable. Like any major economy, India will take all necessary measures to safeguard its national interests and economic security," the statement read.
Indian Express
26-07-2025
- Business
- Indian Express
We fund academic centres at IIT, and work long-term for creating impact: Rahul Mehta, founder, Mehta Family Foundation
Rahul Mehta is the founder of the Mehta Family Foundation (MFF), which partners with IITs to establish new academic centres offering bachelor's, master's, and doctoral degree programmes, along with support for research. Established in 1996 and headquartered in Texas, USA, the Bhupat and Jyoti Mehta Family Foundation was established by Rahul and his siblings in memory of their parents. The foundation has set up centres or schools at various IITs. Among them are the School of Biosciences at IIT Madras, Centre for Engineering in Medicine at IIT Kanpur, the School of Data Science and Artificial Intelligence at IIT Guwahati, the School of Health Sciences and Technology at IIT Guwahati, the School of Data Science & Artificial Intelligence at IIT Palakkad and IIT Roorkee. They have also recently launched the School of Sustainability and the School of Biosciences and Biomedical Engineering at IIT Indore. MFF works with IITs in the areas of infrastructure, curriculum, professorships, conferences, joint research projects, faculty visits, and scholarship programmes. They also work on building collaboration between their schools at IIT and international universities. Rahul spoke to on MFF's journey, the opportunities for growth of IITs, his experiences working with them, and the way forward for Indian research and innovation. Edited excerpts: Venkatesh Kannaiah: Could you tell us about yourself and the foundation? Rahul Mehta: I was born in Bombay and moved to the United States at a very young age. I was the first in our family to pursue higher education overseas in the US, and the experience was transformative. Over the years, I founded and built four software startups. These ventures gave me not only financial independence but also a sense of responsibility to give back to society. I established the foundation to honour my parents, and it is a family endeavour; my brothers and sisters are deeply involved, and we operate from Houston, Texas. Our mission is to create opportunities through education and innovation, particularly in areas that can drive long-term societal impact. Venkatesh Kannaiah: Tell us about your work with IITs in India, and what is different about your collaboration with them? Rahul Mehta: Our engagement with IITs began with a vision to address gaps in India's higher education, and our first initiative was funding a project at IIT Madras. At the time, India was already a powerhouse in computer science, producing global giants like Infosys and TCS. However, I saw a significant disparity when comparing Indian academia to its American counterparts. In the US, particularly in the early 2000s, about 50 per cent of academic research was focused on biological sciences; fields like biotechnology, bioinformatics, and bioengineering. In contrast, most IITs were heavily skewed toward computer science and traditional engineering disciplines, with little emphasis on biology-related programmes. This led to the creation of the School of Bioscience and Bioengineering at IIT Madras in February 2006. Our goal was to introduce a curriculum that exposed Indian students to the engineering aspects of biology. It was a pioneering effort — the first programme of its kind at an IIT. What makes our approach unique is our focus on impact over mere financial contribution. To achieve our goals, we don't just fund projects; we actively shape them. We work closely with IITs to design curricula, bring in global expertise, and foster collaborations that elevate the quality of education and research. That is the core of our model — active engagement to maximise impact. Venkatesh Kannaiah: How is your approach different from a typical philanthropy model? Rahul Mehta: Our approach is not the 'write a cheque and walk away' model. It is about getting deeply involved in the process. When we fund a programme, it's not a one-off transaction; it is a commitment to ensure that the centre is impactful. To build a world-class academic centre, you need more than just funding. You need a curriculum that reflects global standards, good faculty, and opportunities for students to engage with cutting-edge research. We facilitate all of this. For instance, we have a team of advisors/experts from institutions like Purdue and UC San Diego, who help design curricula. We also organise conferences and workshops, bringing together Indian and international academics to share knowledge and spark innovation. We funded the School of Bioscience and Bioengineering at IIT Madras in 2006, and even after more than 20 years, our relationship remains strong. They regularly consult us, invite us to participate in their planning, and involve us in their initiatives. Venkatesh Kannaiah: Why IITs and why these themes? Rahul Mehta: The decision to focus on IITs stemmed from personal familiarity and their reputation. My sister graduated from an IIT, which gave me early exposure to them. IITs attract India's brightest students and some of the best undergraduate talent in the world. Our initial focus was on biosciences and bioengineering, later followed by a Center for Engineering in Medicine at IIT Kanpur and the School of Health Science and Technology at IIT Guwahati. In 2017, we recognised artificial intelligence (AI) as the next frontier. I wrote a paper urging IITs to prioritise AI, as it was becoming a transformative force globally. At the time, AI was not as mainstream as it is now. ChatGPT's release in 2022 brought it into the spotlight, but we saw its potential early. We funded AI schools at IIT Guwahati, Roorkee, and Palakkad, focusing on domain-specific applications like AI in healthcare, material science, and chemical engineering. The third pillar of our strategy is sustainability. India faces significant environmental challenges, such as maintaining food security in the face of climate change. Biosciences, AI, and sustainability are interconnected fields that, when combined, can produce groundbreaking innovations. Venkatesh Kannaiah: What have been your learnings from your collaboration with the IITs? Rahul Mehta: While the quality of IIT undergraduates is good, the challenge is to expose them to cutting-edge technologies and global perspectives. Second, we have learned that Indian research needs to evolve. While India produces many PhDs, the focus should shift toward interdisciplinary, globally collaborative research that drives innovation. We have a team of advisors through our MFF CARE Initiative — Collaborative for Academic Research and Excellence, where we tap into a network of thousands of Indian-origin professors in the US who are eager to contribute to India. Our foundation facilitates these collaborations, connecting Indian academics with global experts. Venkatesh Kannaiah: Can you give us some idea of the number of students who have graduated from your centres? Rahul Mehta: Across all our programmes, we have created capacity for 3,000 students, including 1,500 BTech and 1,500 Master's and PhD students. This is significant, as our efforts have added more capacity than some newer IITs, like Palakkad or Tirupati, which have around 1,800 students. Over the past five years, approximately 10,000 students have graduated, with 2,500 BTechs and over 3,000 currently enrolled. That's the kind of scale we are talking about. Money is just one input. The time, energy, and expertise we invest in curriculum design, faculty support, and global collaborations are critical. Venkatesh Kannaiah: Tell us about what needs to change in the IITs. Rahul Mehta: IITs are doing a lot of things right; they attract good talent and produce graduates who excel globally. But to compete on the world stage, India needs to scale up. First, they need to increase capacity at each location from 2,000 students to 10,000 or more. Second, they need better leadership training and succession planning for directors, deans, and faculty. Some faculty should have the option to pursue administrative careers, as is the case in Western universities. Third, the research ecosystem needs to be more multidisciplinary and collaborative. Currently, Indian faculty often find it easier to collaborate internationally than within India. We need to foster a culture of teamwork across disciplines and institutions. Venkatesh Kannaiah: Can you tell us about any interesting tech innovations or interventions that have come out of your collaboration with IITs? Rahul Mehta: One standout example is the cancer biobank at IIT Madras, one of India's first. It collects tissue samples from local hospitals to study differences between Indian and Western cancers, addressing the unique Indian genome. This is critical because most drugs are tested on Western populations, and we need to understand how they work for Indians. At IIT Madras, researchers have created models to help doctors figure out how old a baby is inside the womb during pregnancy. This is helpful as about half of pregnant women in India miss their first checkup. These models are designed specifically for an Indian context and are now being used in hospitals in Tamil Nadu and at army hospitals. At IIT Madras, researchers have created a special reference genome, like a genetic map, using DNA from 10,000 healthy people across 83 different groups in India. They used this to build a genomegraph, which helps make custom genetic maps for different Indian communities. This project is a digital public good, and it is freely available to help doctors and researchers find India-specific disease patterns. We are also working on a Bharat Cancer Genome Atlas, and we plan to host India-specific cancer genomic data for various cancers prevalent in India. At IIT Kanpur, our Centre is making progress in prostate cancer research, with results that could lead to new treatments. We have developed patented solutions for cancers, blood disorders, and neurodegenerative disorders and are partnering with companies to bring these innovations to the market. Researchers have invented a special kind of insulin that stays stable even at high temperatures. This discovery of thermostable insulin has led to several research papers and patents. We have also developed a Brain-Machine Interface for restoring hand movements in patients paralysed by stroke, in collaboration with NIMHANS Bengaluru. At IIT Roorkee, we have been focusing on innovative, AI-driven, urban mobility transportation solutions and have successfully launched a few products. Researchers at the centre have also developed a new method called Zero-Shot Knowledge Distillation (ZSKD), which is an easier way to make smaller, faster machine learning models without needing the original training data, which is often kept private or secret for safety or business reasons. This groundbreaking method has found a mention in over 300 research papers. Venkatesh Kannaiah: What are your thoughts on the university-research-innovation ecosystem in India? Rahul Mehta: The ecosystem has potential but needs improvement. India funds a large number of PhDs, which is a strength, but the focus needs to be on impactful research. Indian faculty also need to collaborate more within the country, not just internationally. It is about translating research into economic and social benefits. Venkatesh Kannaiah: Where is the Mehta Family Foundation headed 10 years from now? Rahul Mehta: I hope to expand our reach to support 10,000 students, up from 3,000 today, in cutting-edge fields like AI, robotics, global health, and sustainability. Venkatesh Kannaiah: What are your three asks from the government? Rahul Mehta: First, dramatically increase educational capacity to provide opportunities for more students. Second, promote research collaboration, both within India and globally, to drive innovation. Third, focus on translating research into economic prosperity and social impact by creating jobs.
Mint
22-07-2025
- Business
- Mint
Interview: Rahul Mehta of MFF on why India needs strategic philanthropy - 'you can't innovate without talent'
Founded in 1996 in Houston, Texas, in the United States, by the Mehta siblings—Nisha, Rahul, Jainesh, and Dharmesh—in honour of their parents Bhupat and Jyoti Mehta, the Mehta Family Foundation (MFF) is today a top philanthropic force strengthening India's knowledge infrastructure through transformative investments in higher education. With a firm belief that scientific and technological excellence is key to national progress, MFF partners today with top IITs to establish interdisciplinary schools focused on data science, biosciences, AI, health tech, and sustainability. With over 1,400 students currently enrolled across IITs at Madras, Guwahati, Roorkee, Kanpur, and Palakkad and a target of graduating 12,000 by 2031, MFF's collaborative model goes beyond traditional funding. Under the leadership of CEO Rahul Mehta, it shapes programs, recruits faculty, and aligns with long-term national goals. In India to announce two new schools at IIT Indore on July 22, Rahul Mehta spoke to LiveMint about the Mehta Family Foundation's journey, the state of academic philanthropy in India, and the road ahead. Excerpts from the interview: Q: Can you tell us about your background and how the Mehta Family Foundation started? A: I left India when I was 17. I didn't come from a wealthy or highly educated family—my parents had no formal education. But I worked hard, started multiple companies, and after selling my first one, I had more money than I ever thought I would need. I decided to start the Foundation. I've always believed I am just a steward of this wealth—my goal was to give it away meaningfully. Initially, I donated to small nonprofits, gave $500 here, $1000 there, even to Indian charities. But over time, I realised I needed to decide to donate where I felt the deepest impact. That's when my philanthropic journey became more focused on education and institution-building. Q: What was the first major project you funded in India? A: It started around 2005–06. On a trip to the Aurobindo Ashram, I stopped at IIT Madras and had a conversation with the then-director, Dr K Kasturirangan. We discussed their vision, and that led to the creation of the School of Biosciences and Bioengineering—the first such school I funded. Later, in 2010, they returned asking for support to expand lab space, animal hubs, and research infrastructure, which became our second project at IIT Madras. So we've supported two major projects there. Q: How did you choose the areas of focus—Bio, AI, Sustainability? A: I looked at trends in US academia. By the early 2000s, half of engineering faculty in the US were shifting their focus to healthcare and bio. But Indian campuses hadn't even considered biosciences yet—they still offered only traditional disciplines like mechanical or chemical engineering. Similarly, I saw that Indian institutions were slow to adopt AI and data science. In 2018–19, I even hosted a meeting in Delhi with several IIT directors to pitch data science and AI schools—no one was interested. Then came ChatGPT and suddenly everyone saw its relevance. The same is happening now with sustainability. I havve been pushing for formal education in this space for the last three years. We need a new generation of talent explicitly trained in sustainability. Q: You have been talking about the 12,000 deep-tech graduates goal. What does that mean? A: Across eight schools we've funded so far, each school typically includes BTech, MTech, and PhD programs. A typical school has: ● 40–60 BTech seats per year → 160–240 BTech students at steady state ● 50–75 master's students With a firm belief that scientific and technological excellence is key to national progress, MFF partners today with top IITs to establish interdisciplinary schools focused on data science, biosciences, AI, health tech, and sustainability. Every school supports around 300–400 students. With eight schools, that's over 3000 students in steady-state enrollment—equivalent to the size of a new IIT. If you project this over 10 years, it adds up to over 10,000–12,000 graduates, which is critical for India's intellectual and innovation capacity. Q: Are these schools integrated into existing IITs or independent? A: They're integrated within existing IITs but are independently funded and branded—like the Mehta Family School of Data Science and AI. So far, we've supported biosciences, AI, and sustainability schools. Each has its own set of faculty, curriculum, and students. Q: What is your long-term vision for the Foundation in India? A: To help India build a critical mass of intellectual talent across future-critical areas. For example, one school in sustainability isn't enough. We probably need three or four. Public health is another area I'd like to enter. The idea is to look at long-term capacity creation—not just short-term programs. Q: Are there specific challenges in setting up these departments in India? A: Many. The philanthropic ecosystem isn't as mature as the West. In India, people still ask: 'Why do you want to give us money?' Universities often don't know how to write proposals. Even when they agree, internal processes like Senate approvals, faculty alignment, curriculum design—it all takes 18 months or more. In contrast, if I offer money to Harvard, I get a proposal in 24 hours, and they fly out to meet me. Q: So it's a 10+ year commitment to build each department? A: Absolutely. From planning, curriculum design, faculty recruitment, to graduating the first batch—it's easily a decade-long journey. But that's what strategic philanthropy requires: focus, patience, and long-term commitment. Q: How do you assess the impact of your work—what keeps you going? A: The students. When I visit campuses, I meet them in classrooms and ask about their lives. Most come from small towns I have never heard of. Many are the first in their family to go to college. Getting a job post-graduation changes their lives—and their families. That's what keeps me going. One student's transformation is enough to justify all the effort. But here, we're talking about thousands. Q: Do you worry about brain drain—will these students stay in India? A: I don't dictate that. They should do what's best for them. But global forces are shifting—many will stay in India because opportunities here are growing. The goal is to empower them to lead wherever they are. Q: Where does India stand in the innovation economy today? A: We're just beginning. Our innovation capacity has to scale massively. Take healthcare—MD Anderson Cancer Centre in Houston, US, has more cancer researchers than all of India combined. In battery tech, China and the US are far ahead. We must build deep talent pools in these sectors to compete. You can't innovate without talent. You can't innovate without talent. Q: And where do you see philanthropy in India going from here? A: It's getting better. Compared to 2006, people are now more welcoming, more appreciative. But strategic philanthropy is still rare. Many want quick wins—whereas real impact, like building academic institutions, takes 15–20 years. You have to pick one mission and stick to it. That's what we are doing.
Time of India
12-05-2025
- Time of India
German Shepherd ‘Demi' sniffs out cannabis on her field debut
Amreli: In a first for Amreli district, the Special Operations Group (SOG) seized 1.394 kg of dry cannabis with the help of a newly trained sniffer dog named 'Demi', a two-and-a-half-year-old German Shepherd on her first field on a tip-off, the SOG raided a house near a school in Hanumanpara area of Amreli city. Tired of too many ads? go ad free now Demi was deployed during the raid and quickly led officers to a wooden cabinet, where she barked and signaled the presence of contraband. Inside, a bundle of cannabis was discovered, which Demi retrieved, confirming the team arrested one person and seized items worth Rs 54,190, including cannabis, a mobile phone, and a bike. Demi was trained for nine months by the K9SRP group and handled by trainer Rahul Mehta, who described the dog as playful, disciplined, and responsive only to his commands. The Amreli police provide Demi with special care, including a dedicated room, nutritious food, and regular is one of four dogs currently in the district's dog squad and is now seen as a key asset.
