Business
Trump Tariffs Slam India: Exports Crash In 15 Out Of 20 Top Markets, See Where The Big Blow Hit
New Delhi: India’s exports plunged into troubled waters in October as tariffs and geopolitical tensions slowed shipments to most major markets. According to the latest data from trade think tank Global Trade Research Institute (GTRI), out of India’s top 20 export destinations, only five saw growth. The remaining 15 markets reported declines, exposing vulnerabilities in India’s export trade amid global demand fluctuations and policy barriers.
GTRI founder Ajay Srivastava highlighted that October revealed contrasts in performance across India’s export markets. Key destinations including Singapore, Australia, Italy and the United Kingdom, witnessed double-digit declines. The data highlights how external shocks and regulatory hurdles are challenging India’s trade resilience.
Exports Surge In Five Countries
Overall shipments fell 11.8% in October. Growth was confined to just five markets. Exports to Spain jumped 43.43% and China saw a 42.35% rise, primarily due to higher shipments of petroleum products.
Hong Kong recorded a modest increase of 6%, Brazil grew by 3.54% and Belgium by 2.22%, according to Economic Times.
Exports Slump Across 15 Major Markets
The other 15 countries recorded declines, revealing the depth of India’s external trade challenges. Shipments to the United States fell 8.58%, while exports to the UAE dropped 10.17%. Singapore saw the steepest fall at 54.85%, followed by Australia at 52.42%, Italy at 27.66%, the UK at 27.16% and the Netherlands at 22.75%.
Other affected markets included Malaysia (-22.68%), South Korea (-16.43%), Germany (-15.14%), France (-14.28%), Bangladesh (-14.10%), Nepal (-12.64%), South Africa (-7.54%) and Saudi Arabia (-1.12%).
MSMEs Feel The Brunt
Micro, small and medium enterprises (MSMEs) are the hardest hit, as they contribute nearly 40% of India’s total exports. Many companies are grappling with order cancellations, shrinking margins and working capital pressures.
Rajat Mehra, co-coordinator of the CII UP MSME panel and director of Rajat Chemicals, stated that tightening global conditions naturally increase stress on MSME exporters.
Textile Sector Hit Hard
Sanjay K. Jain, chairman of the ICC National Textiles Committee and managing director of TT Textiles, said U.S. tariffs have already taken a toll on shipments.
He highlighted that a 10-12% decline in textile exports is not surprising and warned that the drop could exceed 15% in the coming months as current stockpiles run out.
India’s export slowdown paints a challenging picture for the economy. Businesses across sectors now brace for months of uncertainty, with tariffs, geopolitical tensions and global demand shifts all adding to the pressure on Indian exporters.
Business
Govt keeps petrol, diesel prices unchanged for coming fortnight – SUCH TV
The government on Thursday kept petrol and high-speed diesel (HSD) prices unchanged at Rs253.17 per litre and Rs257.08 per litre respectively, for the coming fortnight, starting from January 16.
This decision was notified in a press release issued by the Petroleum Division.
Earlier, it was expected that the prices of all petroleum products would go down by up to Rs4.50 per litre (over 1pc each) today in view of variation in the international market.
Petrol is primarily used in private transport, small vehicles, rickshaws, and two-wheelers, and directly impacts the budgets of the middle and lower-middle classes.
Meanwhile, most of the transport sector runs on HSD. Its price is considered inflationary, as it is mostly used in heavy transport vehicles, trains, and agricultural engines such as trucks, buses, tractors, tube wells, and threshers, and particularly adds to the prices of vegetables and other eatables.
The government is currently charging about Rs100 per litre on petrol and about Rs97 per litre on diesel.
Business
Serial rail fare evader faces jail over 112 unpaid tickets
One of Britain’s most prolific rail fare dodgers could face jail after admitting dozens of travel offences.
Charles Brohiri, 29, pleaded guilty to travelling without buying a ticket a total of 112 times over a two-year period, Westminster Magistrates’ Court heard.
He could be ordered to pay more than £18,000 in unpaid fares and legal costs, the court was told.
He will be sentenced next month.
District Judge Nina Tempia warned Brohiri “could face a custodial sentence because of the number of offences he has committed”.
He pleaded guilty to 76 offences on Thursday.
It came after he was convicted in his absence of 36 charges at a previous hearing.
During Thursday’s hearing, Judge Tempia dismissed a bid by Brohiri’s lawyers to have the 36 convictions overturned.
They had argued the prosecutions were unlawful because they had not been brought by a qualified legal professional.
But Judge Tempia rejected the argument, saying there had been “no abuse of this court’s process”.
Business
JSW Likely To Launch Jetour T2 SUV In India This Year: Reports
JSW Jetour T2 Launch: JSW Motors Limited, the passenger vehicle arm of the JSW Group, is reportedly preparing to enter the Indian car market this year. It has partnered with Jetour, a China-based automotive brand owned by Chery Automobile, and the Jetour T2 SUV could be the company’s first product, according to the reports.
Media reports suggest that the launch will happen independently and not under the JSW MG Motor India joint venture. The SUV will wear a JSW badge and name, instead of the Jetour branding. The upcoming SUV will be assembled at JSW’s upcoming greenfield manufacturing facility in Chhatrapati Sambhaji Nagar, Maharashtra.
According to the reports, the company plans to have the vehicle on sale by the third quarter of this year. With this move, JSW aims to establish itself as a standalone carmaker in India.
Expected Powertrain
The SUV is likely to arrive with a 1.5-litre plug-in hybrid setup. Internationally, this hybrid powertrain is offered with both front-wheel drive and all-wheel drive options. It is still unclear which version will be introduced in India.
Design
In terms of design, the T2 is a large and rugged-looking SUV. It has a boxy and upright stance, similar to vehicles like the Land Rover Defender. Despite its tough appearance, it uses a monocoque chassis instead of a ladder-frame construction.
Size
The SUV measures around 4.7 metres in length and nearly 2 metres in width. This makes it larger than the Tata Safari, even though it is a five-seater. A longer 7-seat version is also sold in some markets.
Price
Pricing details for India are yet to be announced. For reference, the front-wheel-drive five-seat T2 i-DM is priced at AED 1,44,000 (around Rs 35 lakh) in the UAE.
Jetour
Jetour is a brand owned by Chinese automaker Chery. Launched in 2018, it focuses mainly on SUVs and is present in markets across China, the Middle East, Africa, Southeast Asia and Latin America.
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