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Hindustan Times
31-07-2025
- Business
- Hindustan Times
Donald Trump puts 25% tariff plus penalty on India. Who is at risk?
US President Donald Trump's imposition of 25 per cent reciprocal tariffs on Indian goods and an unspecified penalty over purchases from Russia, which will take effect on August 1, could damage several sectors -- from textiles to pharmaceuticals. Announcing the 25% tariff, Donald Trump said that India's tariff rates were "among the highest in the World".(X/@narendramodi) In a post on Truth Social, Trump said that India's tariffs were "among the highest in the World", adding that New Delhi has the "most strenuous and obnoxious non-monetary Trade Barriers of any country". He also threatened a penalty due to India's energy and military purchases from Russia, against the backdrop of the war in Ukraine. The US's total goods trade with India stood at an estimated $129.2 billion in 2024. India's exports to the US totalled $87.4 billion in 2024, a 4.5 per cent increase from 2023. India's trade surplus with the US, which is its largest export market, stood at 1.2 per cent of the GDP in 2024. While there's no clarity right now on sectoral rates and the penalty level, pharmaceutical, textile, gems and jeweller are among the industries that potentially stand exposed to the Trump tariffs. Here's who could be at risk: Pharmaceuticals India is the largest exporter of non-patented drugs to the US at an approximate value of $8 billion per year. US accounts for nearly one-third of India's pharma exports -- around $9 billion in FY2024. Shares of some of India's biggest companies, including Sun Pharmaceutical Industries Ltd., Dr Reddy's Laboratories Ltd. and Cipla Ltd., fell on Thursday as they earn at least 30 per cent of their revenue from America. However, drugmakers still hold the hope for a lower rate on these items. Namit Joshi, chairman of Pharmaceuticals Export Promotion Council of India, told Bloomberg News, "Tariff on Indian generic pharmaceuticals would pose huge challenges for US pharma supply chain. May be it will attract only a base tariff of 10 per cent." He further said that Pharma companies have been preparing themselves for years for some kind of levy that the US could impose by acquiring assets in America. According to IQVIA, four out of every 10 prescriptions in the US in 2022 were supplied by Indian pharma companies. Overall, medicines from India saved the American health care system nearly $220 billion in 2022 and a total of $1.3 trillion in the decade through that year. Textiles Indian home fabrics, apparel and shoe makers serve the global supply chains of massive American retailers, including Walmart Inc., The Gap Inc., Pepe Jeans and Costco Wholesale Corp. Shares of textile firms like Vardhman Textiles Ltd. were down six per cent, Welspun Living Ltd. 6.5 per cent, and Indo Count Industries Ltd. fell 7.4 per cent. This poses a "stiff challenge" for the textiles and apparel sector, said the Confederation of Indian Textile Industry in a statement. "It will seriously test the resolve and resilience of India's textile and apparel exporters as we will not enjoy a significant duty differential advantage," they added. Gems and Jewellery India's Gem and Jewellery Export Promotion Council said in a statement late Wednesday that the tariff is a "deeply concerning development" that could obstruct supply chains and threaten the livelihoods of thousands of people, with the gems sector being "severely impacted". America accounts for more than $10 billion worth of India's gems and jewellery exports. The trade group said that a blanket tariff will "inflate costs, delay shipments, distort pricing, and place immense pressure on every part of the value chain' from workers to large-scale manufacturers. Electronics India's smartphone exports to the US increased almost fivefold in the past three years. The nation overtook China to become America's top source for smartphones, after Apple Inc. moved to assemble more of its iPhones in India. The smartphone exports of India rose by 55 per cent to USD 24.14 billion in 2024-25 from USD 15.57 billion in 2023-24 and USD 10.96 billion in 2023-23. The top five nations where India registered the highest growth were the US, the Netherlands, Italy, Japan, and Czech Republic. Exports to the US alone surged from USD 2.16 billion in 2022-23 to USD 5.57 billion in 2023-24 and USD 10.6 billion in 2024-25. However, Trump's reciprocal tariff could put the smartphone exports at risk. "Apple's US iPhone sourcing strategy from India to circumvent China tariffs could be meaningfully set back if tariffs in India extend to 25 per cent," Bloomberg reported, citing its intelligence analysts. "A 25 per cent surcharge would most likely force Apple to revise this plan," they added. The impact would not be as straightforward as the Trump administration had in April placed smartphones, computers, and other electronics under exemption from reciprocal tariffs. After this, the US Commerce Department used Section 232 of the Trade Expansion Act to launch probes into sectors that are essential for national security, such as semiconductors. Until these investigations are complete, smartphone exports to the US will not face any tariffs. If Trump decides to use his powers under Section 232 to impose duties on iPhone imports to the US, then it could force Apple Inc. to limit suppliers, including those in India. Oil Refining The proposed penalty on Russian oil imports, if imposed, could hurt the major Indian refineries. Shares of state-run refiners like Indian Oil Corp., Bharat Petroleum Corp. and Hindustan Petroleum Corp. fell, with those of private firms like Reliance Industries Ltd. dropping 2 per cent. India gets around 37 per cent of its oil imports from Russia. The barrels from Moscow come at a discount to market rates and have played a key support role for gross refining margins. If Russian oil is no longer available, the cost of imports will surge, hurting the refiners' profits. Earlier this year, Reliance signed a deal to purchase as much as 500,000 barrels per day from Russia to become India's largest buyer of Russian crude. Auto components Among other sectors that take the most hit is 'auto components'. Though Indian automakers do not have much exposure in the US, parts makers like Bharat Forge and Sona BLW stand vulnerable in the face of Trump tariffs on India. Meanwhile, Tata Motors' Jaguar Land Rover unit is protected under the US-UK/EU trade arrangements. Capital goods and chemicals might also be hurt by the Trump tariffs. Companies like Cummins India, Thermax and KEI Industries reportedly have 5-15 per cent US exposure. (with inputs from agencies)
Time of India
15-07-2025
- Business
- Time of India
Indices: Stock market update: Nifty Pharma index advances 0.4% in an upbeat market
The Nifty Pharma index was trading 0.4 per cent up at 22500.85. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads NEW DELHI: The Nifty Pharma index traded positive around 11:11AM(IST)on Tuesday in an upbeat Ltd.(up 1.75 per cent), Sun Pharmaceutical Industries Ltd.(up 1.56 per cent), Alkem Laboratories Ltd.(up 0.99 per cent), Granules India Ltd.(up 0.57 per cent) and Zydus Lifesciences Ltd.(up 0.47 per cent) were among the top Pharma Ltd.(down 1.83 per cent), Glenmark Pharmaceuticals Ltd.(down 0.55 per cent), Abbott India Ltd.(down 0.22 per cent), Cipla Ltd.(down 0.16 per cent) and Dr. Reddy's Laboratories Ltd.(down 0.09 per cent) were the top losers on the Nifty Pharma index was up 0.4 per cent at 22500.85 at the time of writing this NSE Nifty50 index was up 140.8 points at 25223.1, while the BSE Sensex was up 450.25 points at the 50 stocks in the Nifty index, 41 were trading in the green, while 9 were in the of Ola Electric Mobilit, JP Power RattanIndia Power and PC Jeweller were among the most traded shares on the of Soma Textiles Godfrey Philips and Authum Investment hit their fresh 52-week highs in today's trade, while Setubandhan Infra, Tejas Networks, LCC Infotech, Travel Food Services and N R Agarwal Ind hit fresh 52-week lows in trade.
Economic Times
02-07-2025
- Business
- Economic Times
Stock market update: Nifty Pharma index falls 0.02% in a weak market
NEW DELHI: The Nifty Pharma index traded negative around 10:51AM(IST)on Wednesday in a weak market. ADVERTISEMENT Mankind Pharma Ltd.(up 1.71 per cent), Sun Pharmaceutical Industries Ltd.(up 0.69 per cent), Aurobindo Pharma Ltd.(up 0.63 per cent), Lupin Ltd.(up 0.48 per cent) and Laurus Labs Ltd.(up 0.41 per cent) were among the top gainers. Gland Pharma Ltd.(down 1.66 per cent), Torrent Pharmaceuticals Ltd.(down 1.29 per cent), Natco Pharma Ltd.(down 1.26 per cent), Cipla Ltd.(down 0.57 per cent) and Dr. Reddy's Laboratories Ltd.(down 0.56 per cent) were the top losers on the index. The Nifty Pharma index was down 0.02 per cent at 22037.75 at the time of writing this report. Benchmark NSE Nifty50 index was down 53.15 points at 25488.65, while the BSE Sensex was down 142.51 points at 83554.78. Among the 50 stocks in the Nifty index, 19 were trading in the green, while 31 were in the red. ADVERTISEMENT Shares of Vodafone Idea, RattanIndia Power, JP Power, PC Jeweller and Ola Electric Mobilit were among the most traded shares on the NSE. Shares of Gabriel India, TN Telecom, NACL Industries, Reliance Naval & Engg and Kalyani Commercials hit their fresh 52-week highs in today's trade, while Stampede Cap(DVR), Jindal Worldwide, Sadhana Nitro, Raymond Realty and Kalpataru hit fresh 52-week lows in trade. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
02-07-2025
- Business
- Time of India
Indices: Stock market update: Nifty Pharma index falls 0.02% in a weak market
The Nifty Pharma index was trading 0.02 per cent down at 22037.75. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads NEW DELHI: The Nifty Pharma index traded negative around 10:51AM(IST)on Wednesday in a weak Pharma Ltd.(up 1.71 per cent), Sun Pharmaceutical Industries Ltd.(up 0.69 per cent), Aurobindo Pharma Ltd.(up 0.63 per cent), Lupin Ltd.(up 0.48 per cent) and Laurus Labs Ltd.(up 0.41 per cent) were among the top Pharma Ltd.(down 1.66 per cent), Torrent Pharmaceuticals Ltd.(down 1.29 per cent), Natco Pharma Ltd.(down 1.26 per cent), Cipla Ltd.(down 0.57 per cent) and Dr. Reddy's Laboratories Ltd.(down 0.56 per cent) were the top losers on the Nifty Pharma index was down 0.02 per cent at 22037.75 at the time of writing this NSE Nifty50 index was down 53.15 points at 25488.65, while the BSE Sensex was down 142.51 points at the 50 stocks in the Nifty index, 19 were trading in the green, while 31 were in the of Vodafone Idea, RattanIndia Power, JP Power, PC Jeweller and Ola Electric Mobilit were among the most traded shares on the of Gabriel India, TN Telecom, NACL Industries, Reliance Naval & Engg and Kalyani Commercials hit their fresh 52-week highs in today's trade, while Stampede Cap(DVR), Jindal Worldwide, Sadhana Nitro, Raymond Realty and Kalpataru hit fresh 52-week lows in trade.
New Indian Express
16-06-2025
- Business
- New Indian Express
FDA observations, leadership change keep Sun Pharma stock in spotlight on Monday
CHENNAI: Shares of Sun Pharmaceutical Industries Ltd. are under investor scrutiny today following two significant developments announced over the weekend — the US drug regulator's audit findings at a key manufacturing facility and a major leadership transition. The US Food and Drug Administration (USFDA) issued a Form-483 with eight observations concerning manufacturing practices at Sun Pharma's Halol facility in Gujarat. While the observations do not constitute regulatory action, they point to areas requiring corrective measures to meet FDA compliance standards. Sun Pharma has acknowledged the observations and committed to addressing them promptly. The inspection, conducted between June 2 and June 13, 2025, is especially significant as the Halol plant has been under an import alert since December 2022 due to previous regulatory violations. In a parallel development, the company announced the elevation of Kirti Ganorkar to the role of Managing Director, effective September 1, 2025. Ganorkar, who has headed Sun Pharma's India business since 2019, will take over full operational responsibilities, with all functions reporting directly to him. Founder Dilip Shanghvi will continue as Executive Chairman of the Board, ensuring strategic continuity. In light of these developments, investors are expected to closely monitor the company's stock performance in the coming days. Market analysts say the resolution of USFDA concerns at Halol and the smooth execution of the leadership transition will be key to shaping investor sentiment and the company's near-term outlook.
