US President Donald Trump has announced a 27% reciprocal tariff on India, aiming to address longstanding trade imbalances and enhance US competitiveness, especially in key sectors such as textiles and manufacturing.
Compared to major US trade partners like Mexico, China, and Canada — which collectively account for 50% of American imports — India is in a more advantageous position, according to Niti Aayog Programme Director Pravakar Sahoo.
Over 300 skilled jobs in the local supply chain will be part of new contracts signed with Bridgend-based companies Darlow Lloyd and Sons, Wernick Buildings, and Swansea-based business, Andrew Scott Ltd.
So far in FY 25, the AC industry has seen a good demand amid rising temperatures and increasing disposable incomes.
Rising economic fundamentals, a strong manufacturing sector, and a growing middle class position India as a key player in the global economy despite external challenges.
India's steel industry remains largely unaffected by Trump's tariff hike from 10% to 25%, as exports to the US are minimal, and the domestic market remains strong, per steel secretary Sandeep Poundrik
As investors braced for economic fallout from Trump’s tariff policies, technology stocks bore the brunt of the downturn, with the Nasdaq Composite suffering its worst single-day loss since 2022, plunging 4%.
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