Spooked by US president's threat, several Indian pharma players lobby for blanket duty waiver on drugs coming from America, with chunk of their earnings hinging on exports to the country.
Maruti-Suzuki's Jimny, manufactured in Gurugram factory, has become such a hit in Japan that there’s a waiting list. In India, the carmaker had to slash prices to clear stock.
In Episode 1588, ThePrint Editor-in-Chief Shekhar Gupta explains how China used trade as an agent of growth & what it means for the world, particularly India & US.
A big source of uncertainty will be trade after Trump assumes office. However, within India, rural demand is likely to sustain momentum & inflation is less likely to be a big problem.
Sales revenue of manufacturing firms saw weak growth in September quarter. Rural demand indicators performed better than urban. Capex must rapidly pick up in 2nd half of the fiscal.
Bangladesh, a major export market for India, is already grappling with inflation & unemployment. The unrest can worsen the situation, impacting import demand.
Removal of restrictions is expected to contribute towards economic stability. Exports were prohibited from 8 Dec 2023 due to an estimated 20% decline in Kharif and late Kharif production.
Data shows that India’s refined petroleum exports went from $96.57 billion in FY23 to $61.41 billion in FY24. Experts say decline is mainly due to Russia-Ukraine war.
Exports fall to $3.38 trillion. This highlights a larger slowdown in global economy, while US & allies continue to push for friendshoring supply chains.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
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