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Congress general secretary Sachin Pilot on Sunday said that Prime Minister Narendra Modi should have worked out a constructive solution during his last America visit rather than just indulging in «photo ops» and exchanging gifts. He said that at a time the world is responding to the imposition of reciprocal tariffs by the US, the Indian government is merely buying time and leaving everything to fate. In an interview to PTI, the former minister for Corporate Affairs said the Indian government is accepting what has been given out and has not even offered a response. «I would imagine, when the PM was in Washington (in February) and met the president of the US, instead of just photo ops and exchanging gifts, something more constructive should have come out of it,» Pilot said. «If our relations are as strong as the two leaders claim, then we would not have been slapped with these steep tariffs. Clearly our exports will be severely hit, manufacturing was in any way on a downside, MSMEs are in for a shock...The economy will face severe stress due to resulting layoffs and job losses but unfortunately we have not had an adequate response or even an indication of how to navigate this situation.» he said. The government was caught napping and it seems under US pressure to sacrifice Indian interests, he alleged.

Donald Trump has said his reciprocal tariff policy was meant to stand up for the American worker, whom he portrayed as the victim of a decades-long shift toward unfettered globalization. His Rose Garden announcement on Wednesday pushed import duties to an average rate of around 22%, the highest in over a century.

Such conflicts, after all, are counterproductive in the first place. Raising levies on imports simply increases costs for domestic consumers, more than offsetting the benefits that local producers may enjoy from the higher prices they receive from the shift in spending. The best solution is just to stand aloof from this contest of economic self-harm, however much you’re provoked. That’s the case with most economies — but China, which has announced a 34% import tax against all US goods in response to President Donald Trump’s tariff blitz earlier last Wednesday, may be a rare exception. That’s because the world’s biggest manufacturer has spent decades building an economy that’s already largely war-proofed against blowback from its own trade practices. Consider the main items the nations trade with each other. The major products that the US imports from China are mostly things you’ll find in a Walmart Inc., at a shopping mall, or on Amazon.com Inc.: smartphones, computers, games consoles, furniture, toys and clothing. Slap a 54% tariff on these items, as Trump has done, and American consumers are going to notice pretty soon.

Hindustan Shipyard (HSL) has turned its net worth positive, overcoming supply chain challenges as well as liabilities and pending legacy issues that had led it to the verge of closure. The yard, which is currently manufacturing fleet support ships for the Indian Navy and undertaking submarine refits, was taken over by the defence ministry in 2010 when it was facing debilitating financial constraints. In 2024-25, HSL achieved a provisional total income of ₹1,586 crore and a profit before tax of ₹295 crore, reflecting a 36% year-on-year growth, officials said, adding that it was the first time in four decades that the company's net worth turned positive. HSL is now poised to get a Miniratna status, according to officials. Established in 1941, HSL has been a crucial asset due to its location in Visakhapatnam and the expertise it gained in complicated refits of submarines. It is located close to the Ship Building Centre, where India's nuclear armed submarines are built, as well as the Eastern Naval headquarters.

Piyush Goyal Saturday encouraged young founders to set ambitious goals and rise beyond the limitations of the present and called upon the country’s youth to lead the way in emerging sectors like AI, semiconductors and deep-tech. He also said that the second fund of funds for startups (FFS) with a corpus of Rs 10,000 crore has been approved and this year, Rs 2,000 crore will be disbursed to SIDBI as the first installment. A significant portion of the fund will be reserved for seed funding of small startups and to support deep-tech innovation. “The potential you hold will make you a great contributor to India’s journey in this Amrit Kaal. Let the Startup Mahakumbh ignite aspirations that go beyond the current realm of reality,” Goyal said while conferring the Startup Maharathi Awards at Startup Mahakumbh 2025.

Trump has vowed his historic tariff blitz would revive domestic manufacturing, but industry worries about his approach are raising fresh doubts about whether he can deliver on his promise of an economic boom. In the Rose Garden on Wednesday, Trump declared “jobs and factories will come roaring back into our country” and predicted new “golden age” in America. Since then, he has stood by his decision to hike US tariffs to their highest levels in more than a century, even as the move sparked a global market meltdown. Some manufacturing advocates and economists questioned Trump’s underlying logic, saying supply chain issues, high costs, workforce needs and the laborious process of moving production to the US stand in the way. Continued uncertainty about Trump’s long-term policy could also have a chilling effect, they said. If the tariffs aren’t enough to convince companies to move operations to the US, it could mean Americans bear the heavy burden of the economic havoc Trump’s announcement unleashed without the promise of future benefits. That could heighten political risks for Trump and his fellow Republicans. “While we certainly agree we should aggressively pursue any policy that helps us make things in America, the idea that you can move every part of the manufacturing process back to the US does not align with reality,” said Kip Eideberg, senior vice president for the Association of Equipment Manufacturers.

Trump's move on Wednesday to place stiff new tariffs on imports from nearly all U.S. trading partners marks an all-in bet by the Republican that his once-fringe economic vision will pay off for Americans. It was the realization of his four decades of advocacy for a protectionist foreign policy and the belief that free trade was forcing the United States into decline as its economy shifted from manufacturing to services. The tariff announcement was the latest and perhaps boldest manifestation of Trump's second-term freedom to lead with his instincts after feeling his first turn in the Oval Office was restrained by aides who did not share his worldview. How it shakes out could be a defining judgment on his presidency. The early reviews have been worrisome. Financial markets had their worst week since the onset of the COVID-19 pandemic, foreign trade partners retaliated and economists warned that the import taxes may boost inflation and potentially send the U.S. into a recession. It's now Republican lawmakers who are fretting about their party's future while Democrats feel newly buoyant over what they see as Trump's overreach.

Donald Trump ramps up trade tariffs on nations worldwide. As early as this summer, Nissan plans to reduce production at its Fukuoka factory in western Japan and shift some manufacturing of its Rogue SUV to the United States to mitigate the impact of Trump's tariffs, the business newspaper said, without citing the source of its information. The Japanese automaker's Rogue SUV, a key model in the U.S. market, is now produced in Fukuoka and the United States, the report said. On Thursday, Nissan said it would not take new orders from the U.S. for two Mexican-built Infiniti SUVs after earlier Trump tariff announcements, marking, a drastic scale-back of its operations at a joint venture plant. The automaker now plans to maintain two shifts of production of the Rogue at its Smyrna, Tennessee, plant after announcing in January it would end one of the two shifts this month.

Nissan Motor said on Thursday it will not take new orders from the U.S. for two Mexican-built Infiniti SUVs, following auto tariffs levied by President Donald Trump, in a drastic scale-back of its operations at a joint venture plant. The Japanese automaker said it would now maintain two shifts of production of the Rogue SUV at its Smyrna, Tennessee, plant after announcing in January it would end one of the two shifts this month. Nissan will not accept any additional orders of the Infiniti QX50 and QX55 SUVs for the U.S. market produced at the COMPAS plant it has run together with Mercedes-Benz in Mexico. Nissan said production is expected to continue for those models sold in other markets. It remained unclear how much of the production is sold in other markets. The two Infiniti models have only been exported from Mexico to the U.S., according to data from Mexico's national statistics agency. A Japan-based Nissan spokesperson said on Saturday the models are produced for and exported to markets such as Mexico, Panama, the Middle East and Canada, without providing details on its production plans for the vehicles.

Vietnam, Thailand and Cambodia have for years worked to turn themselves into alternatives to China for factories making the bags, electronics, shoes and auto parts that eventually end up in the United States. Now, they will face some of the most punishing tariffs. All three countries have said in recent days that they’re open to negotiations over the “reciprocal tariffs” Trump announced this week, while Singapore, a finance and trade hub, has said that it doesn’t plan to strike back. The offers come as nations worldwide weigh how to respond to Trump’s decision to slap tariffs from 10% to as high as 50% on every country. Since his announcement, trillions of dollars in market value have been wiped out globally and triggered widespread recession alarms. Southeast Asia’s offers to negotiate contrast with China’s immediate retaliation, while the European Union is preparing its own countermeasures if talks fail. Trump and Vietnam's leader To Lam have agreed to discuss a deal to remove tariffs, both leaders said after a phone call that Trump said was «very productive», as Hanoi has escalated its campaign to dodge duties of 46%.

Donald Trump’s tariff tantrums on April 2, are now nursing their wounds. The Nifty Pharma index tumbled 4% on Friday, slamming the brakes on a relief rally that lasted less than 24 hours. Investors who had rushed into stocks like Laurus Labs, Aurobindo Pharma, Lupin, Biocon, Gland Pharma and Cipla watched them fall between 5% and 7% in a single session. The shock came courtesy of Trump’s chilling declaration: Pharma tariffs are “going to be starting to come in… at a level that you haven't really seen before.” The announcement, he said, is “under review right now” and will be made “in the near future.”

Subscribe to enjoy similar stories. Royal Enfield, maker of the iconic Bullet motorcycles, needed 15 years to grow its share of India’s two-wheeler market from negligible to 5%. Electric two-wheeler makers in India achieved that in 4 years.

Subscribe to enjoy similar stories. The stock market has its worst day in years. Ominously, the currency also falls.

Subscribe to enjoy similar stories. Financial crises come in all shapes and sizes—and occasionally as part of rescue packages. The International Monetary Fund’s austerity package after the 1997 Asian foreign exchange crisis sent many South-East Asian nations reeling, giving rise to multiple unintended consequences.

Subscribe to enjoy similar stories. New Delhi: In the immediate aftermath of the new US tariffs, India’s response has been twofold: to seek new opportunities in the changing world order, and re-evaluate its manufacturing strategy.

Piyush Goyal on Friday accused Congress of misleading Indian startups by misinterpreting his message at the Startup Mahakumbh, which was taken positively by the budding entrepreneurs. He also alleged that the Congress ecosystem did not understand his message for startups, which is a reflection of their negative approach. «My message for startups has been received (positively) except by some Congress party (social media) handles who are hell-bent on manufacturing a controversy when it is none. By and large, the feedback that I have received is that the young Indians are ready to capture the world,» he told reporters here. The minister's remark came in the backdrop of the Congress and some startups criticising his statement at Startup Mahakumbh here on Thursday.

Subscribe to enjoy similar stories. NEW DELHI : As the US recalibrates its reciprocal tariff policy following a data miscalculation, India will now face an additional 26% tariff across a range of commodities starting 9 April. This marks a slight downward revision from the 27% hike announced on 2 April after the US administration corrected its trade deficit computations.

Subscribe to enjoy similar stories. President Trump’s high tariffs would make the U.S. one of the world’s most protectionist countries.

Subscribe to enjoy similar stories. Nothing is more American than the pickup truck. One big reason why: the “chicken tax." The U.S.

cement maker Nuvoco Vistas Corp Ltd. Gujarat-based Vadraj Cement, formerly owned by ABG Shipyard, has admitted liabilities of Rs 9,633 crore, while the successful bidder’s plan proposes to pay about Rs 1,800 crore to acquire the company through the bankruptcy process. “No orders levying any tax, demand or penalty from the corporate debtor (Vadraj Cement) in relation to the period up to approval of the resolution plan shall be passed by any authority and such demand, if created, shall not enforceable as having extinguished in terms of approved resolution plan,” said the division bench of Justice VG Bisht and technical member Prabhat Kumar in its order of April 1.

Subscribe to enjoy similar stories. On Thursday, the Office of the United States Trade Representative (USTR) published the formula by which US reciprocal tariffs are to be calculated. The New York Times also published what calculation resulted in country-wise tariffs from 9 April onwards that range in a wide band.