Business
Stock market outlook: US tariffs put textiles and gems stocks in focus; analysts see range-bound trade – Times of India

Stock market investors may remain jittery in the near term after the steep 50 per cent tariff on Indian goods entering the United States came into effect on Wednesday, with analysts flagging textiles, gems and jewellery, and leather stocks as likely to remain in focus when trading resumes on Thursday.The additional 25 per cent levy imposed by US President Donald Trump on India for its Russian oil purchases has taken the overall tariff burden to 50 per cent. Analysts said the move was anticipated and while the market may open with cuts, panic selling is unlikely.“The market will open with cuts. But a panic is unlikely since this 50 per cent tariff is not unexpected. FIIs may continue to sell dragging the market down. But at lower levels, there will be aggressive buying by DIIs who are flush with funds,” V K Vijayakumar, Chief Investment Strategist at Geojit Investments, told PTI.Export-oriented sectors expected to feel the brunt include textiles and clothing, gems and jewellery, shrimp, leather, footwear, animal products, chemicals, and electrical and mechanical machinery. However, pharma, energy products, and electronic goods are outside the ambit of the sweeping duties.Puneet Singhania, Director at Master Trust Group, said, “The 25 per cent additional US tariff, taking the aggregate duty on Indian imports to 50 per cent, has already rattled the markets. On August 26, Nifty fell 255.70 points to 24,712, and the Sensex declined 849.37 points to 80,786. Although defensives such as pharma and electronics remain relatively well-insulated, export-oriented sectors such as textiles, gems and jewellery, chemicals & organic compounds and agricultural are encountering strong headwinds.”Markets may remain volatile as investors absorb the trade shock, Singhania added, cautioning that “export-linked stocks may experience earnings downgrades, while domestic demand-driven sectors, as well as defensives such as pharma and IT services, may experience relative interest.”According to BSE and NSE data, foreign institutional investors offloaded equities worth Rs 6,516.49 crore on Tuesday, while domestic institutional investors bought Rs 7,060.37 crore worth of shares, offsetting some pressure.The US accounted for about 20 per cent of India’s $437.42 billion goods exports in 2024-25, making the new tariffs particularly significant. “The first move will be sentiment-driven. The 25 per cent additional tariff on Indian goods takes the total duty close to 50 per cent, and that raises concerns for sectors like textiles, gems and jewellery, leather, and seafood. In the near term, the market may remain range-bound with sector rotation, not a sharp correction,” said Trivesh D, COO of online brokerage Tradejini.
Business
Women in banking: SBI aims for 30% female workforce by 2030; steps up inclusion and health initiatives – The Times of India

The State Bank of India (SBI) has set a target to raise the share of women in its workforce to 30 per cent by 2030 as part of a broader push to strengthen gender diversity and inclusivity across all levels of the organisation.SBI Deputy Managing Director (HR) and Chief Development Officer (CDO) Kishore Kumar Poludasu told PTI that women currently account for about 27 per cent of the bank’s total workforce, though the figure rises to nearly 33 per cent among frontline staff.“We will be working towards improving this percentage so that diversity gets further strengthened,” Poludasu said, adding that the bank is taking targeted measures to bridge the gap and meet its medium-term diversity goal.With a staff strength of over 2.4 lakh — among the highest for any organisation in the country — SBI has rolled out several initiatives aimed at creating a workplace where women can thrive professionally while maintaining work-life balance.Among the women-centric measures, the bank offers creche allowances for working mothers, a family connect programme, and dedicated training sessions to help women re-enter the workforce after maternity, sabbatical, or extended sick leave.Poludasu said SBI’s flagship initiative, Empower Her, is designed to identify, mentor, and groom women employees for leadership roles through structured leadership labs and coaching sessions. The programme aims to strengthen the pipeline of women leaders across the organisation.The bank has also introduced wellness initiatives tailored to women’s health needs, including breast and cervical cancer screenings, nutritional allowances for pregnant employees, and a cervical cancer vaccination drive.“These programmes are designed keeping in mind the women and girls who are employed in the bank,” Poludasu said, adding that SBI remains committed to fostering an inclusive, secure, and empowering workplace.Currently, the lender operates over 340 all-women branches across India, and the number is expected to increase in the coming years.SBI, one of the world’s top 50 banks by asset size, has also been recognised among India’s best employers by multiple organisations. Poludasu said the bank continues to drive innovation across processes, technology, and customer experience while ensuring that diversity and inclusion remain central to its transformation journey.
Business
Trade talks: India, EU wrap up 14th round of FTA negotiations; push on to seal deal by December – The Times of India

India and the 27-nation European Union (EU) have concluded the 14th round of negotiations for a proposed free trade agreement (FTA) in Brussels, as both sides look to resolve outstanding issues and move closer to signing the deal by the end of the year, PTI reported citing an official.The five-day round, which began on October 6, focused on narrowing gaps across key areas of trade in goods and services. Indian negotiators were later joined by Commerce Secretary Rajesh Agrawal in the final days to provide additional momentum to the talks.During his visit, Agrawal held discussions with Sabine Weyand, Director General for Trade at the European Commission, as both sides worked to accelerate progress on the long-pending trade pact.Commerce and Industry Minister Piyush Goyal recently said he was hopeful that the two sides would be able to sign the agreement soon. Goyal is also expected to travel to Brussels to meet his EU counterpart Maros Sefcovic for a high-level review of the progress made so far.Both India and the EU have set an ambitious target to conclude the negotiations by December, officials familiar with the matter said, PTI reported.Negotiations for a comprehensive trade pact between India and the EU were relaunched in June 2022 after a hiatus of more than eight years. The process had been suspended in 2013 due to significant differences over market access and tariff liberalisation.The EU has sought deeper tariff cuts in sectors such as automobiles and medical devices, alongside reductions in duties on products including wine, spirits, meat, and poultry. It has also pressed for a stronger intellectual property framework as part of the agreement.For India, the proposed pact holds potential to make key export categories such as ready-made garments, pharmaceuticals, steel, petroleum products, and electrical machinery more competitive in the European market.The India-EU trade pact talks span 23 policy chapters covering areas such as trade in goods and services, investment protection, sanitary and phytosanitary standards, technical barriers to trade, rules of origin, customs procedures, competition, trade defence, government procurement, dispute resolution, geographical indications, and sustainable development.India’s bilateral trade in goods with the EU stood at $136.53 billion in 2024–25, comprising exports worth $75.85 billion and imports valued at $60.68 billion — making the bloc India’s largest trading partner for goods.The EU accounts for nearly 17 per cent of India’s total exports, while India represents around 9 per cent of the bloc’s overall exports to global markets. Bilateral trade in services between the two partners was estimated at $51.45 billion in 2023.
Business
Telcos network costs rise: Gap between expenditure and revenue exceeds Rs 10,000 crore; COAI flags rising network investment burden – The Times of India

The gap between telecom operators’ network expenditure and revenue continues to widen, prompting industry body COAI to defend calls for higher mobile tariffs, citing the increasing financial burden of network deployment on service providers.Speaking at the India Mobile Congress, Cellular Operators Association of India (COAI) Director General, SP Kochhar, told PTI that while the government has provided significant support to telecom operators through policies such as the right of way (RoW), several authorities continue to levy exorbitant charges for laying network elements.“Earlier, the gap until 2024 for infrastructure development and revenue received from tariffs was around Rs 10,000 crore. Now it has started increasing even further. Our cost of rolling out networks should be reduced by a reduction in the price of spectrum, levies etc. The Centre has come out with a very good ROW policy. It is a different matter that many people have not yet fallen in line and are still charging extremely high,” Kochhar said.He also defended the recent cut in data packs for entry-level tariff plans by select operators, stressing that the move was necessary given competitive pressures.Kochhar pointed out that competition among the four telecom operators remains intense, and there has been no significant trend suggesting that consumers are shifting towards low-cost data options.“There is a need to find ways to make high network users pay more for the data. Seventy per cent of the traffic which flows on our networks is by 4 to 5 LTGs (large traffic generators like YouTube, Netflix, Facebook etc). They pay zero. Nobody will blame OTT but they will blame the network. Our demand to the government is that they [LTGs] should contribute to the development of networks,” Kochhar said.He added that the investments made by Indian telecom operators are intended for the benefit of domestic consumers and are not meant to serve as a medium for profit for international players who do not bear any cost.
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