MUMBAI: Industrialist Anand Mahindra has said that US tariffs will have the unintended consequences of creating new growth drivers, and India should use the opportunity to unleash reforms like in 1991 and promote tourism as a forex engine. In an elaborate post on X following the tariff announcements, the Mahindra & Mahindra chairman outlined his […]
Settling claims to get easier for heirs of deceased clients
MUMBAI: India’s central bank is moving to simplify how banks release funds or valuables belonging to deceased customers. Reserve Bank of India will impose a single, standard procedure for settling such claims for both deposits and safe-deposit lockers. This will replace the patchwork of rules that currently varies from bank to bank. A draft circular […]
US-India tariff war: FIEO warns MSMEs could take major hit; 50% tariffs to affect 55% of shipments
India’s exporters are reeling from a major blow after the US imposed a steep 50% tariff on most Indian goods, a move the Federation of Indian Export Organisations (FIEO) has called “extremely shocking.”The fresh 25% hike, signed into order by US President Donald Trump on Wednesday, is in response to New Delhi’s continued purchase of […]
Donald Trump’s 25% additional tariff on India: Anand Mahindra cites ‘law of unintended consequences’; says global ‘Manthan’ can yield ‘Amrit’ for India
As India braces for a fresh round of tariffs imposed by the United States, Mahindra Group chairman Anand Mahindra urged the country to turn the crisis into a powerful opportunity by implementing bold economic reforms.On Wednesday, US President Donald Trump signed an executive order to impose an additional 25% tariff on Indian imports, citing India’s […]
Trump’s tariff treasure: US ‘taking in so much money’ – but where is it going?
US President Donald Trump frequently boasts about the billions of dollars flowing into the US government’s coffers from sweeping tariffs, calling it historic, unmatched, and a windfall for the nation. But while he celebrates the surge in revenue, many are asking: Where is all that money going -and who is really paying the price?“We have […]
Wall Street today: US stocks edge higher ahead of tariff deadline; Nasdaq gains 50 points, S&P 500 up 0.1%
Wall Street saw modest gains on Wednesday as investors sifted through a wave of corporate earnings to gauge how businesses are coping with President Donald Trump’s tariffs.Nasdaq climbed 60 points or 0.29%, reaching 20,977. S&P 500 followed the trajectory, with a modest rise of 11 points, rising 0.18% to 6310.DJIA, on the contrary, dipped 12 […]
India-US tariff war: Goldman Sachs trims India’s GDP growth outlook; inflation forecast offers silver lining
India’s growth story may be headed for a rough patch after US President Donald Trump imposed a steep 25% “reciprocal” tariff on Indian goods, a recent report by Goldman Sachs showed.In a newly revised outlook, the brokerage trimmed its forecast for India’s real GDP growth by 0.1 percentage point. It now expects the economy to […]
Japan-US trade agreement: Tokyo to import ‘very beautiful’ Ford F-150s; duties on Japanese car exports still unclear
Japan is set to begin importing Ford’s hefty F-150 pickup trucks, US President Donald Trump said on Tuesday, even as questions linger over the full scope of the countries’ trade agreement.The move comes as part of a deal announced in July, under which Japanese imports will be hit with a 15% “reciprocal” tariff, lower than […]
Man receives trillion-rupee windfall credit! Rushes to bank; here’s what it said
A 20-year-old man from Dankaur near Noida was stunned after receiving a bank message showing an unimaginable sum of money, Rs 10,01,35,60,00,00,00,00,00,01,00,23,56,00,00,00,00,299, credited to his account on August 1.The man, Deepak, said the amount was deposited in his late mother’s account, which he had opened just two months ago. I got a message that Rs […]
Doing very well! RBI guv says India contributing more to global economy than US
Reserve Bank of India governor Sanjay Malhotra on Wednesday gave a firm reply to Donald Trump’s ‘dead economy’ remark, assuring that India’s economy is “doing very well” and contributing more to global growth than the United States.Speaking to reporters at the RBI headquarters, Malhotra highlighted India’s resilience and strong performance even as Trump’s controversial remark […]