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The companies, partnered last year to set up semiconductor and display production plants in Gujarat, are believed to have disputes over incentive approval delays by Indian government.
Adani's response comes amid a $2.5 billion share sale by its flagship company, which has been overshadowed by the report that flagged concerns about the conglomerate's high debt levels.
While Adani Transmission’s stocks were worst hit, none of the group's seven listed companies escaped impact, with their stock prices falling between 10% & 27%.
Past FTAs failed to yield much benefit because they exposed domestic industries to global competition without strengthening the manufacturing ecosystem.
Mini deal will likely see no cut in 10% baseline tariff on Indian exports announced by Trump on 2 April, it is learnt, but additional 26% tariffs are set to be reduced.
PTC Industries is investing Rs 1,000 cr in 4 manufacturing plants in UP, has already started supplying titanium parts to BAE Systems for its M-777 howitzers that India also uses.
Public, loud, upfront, filled with impropriety and high praise sometimes laced with insults. This is what we call Trumplomacy. But the larger objective is the same: American supremacy.
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