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Qcom unicorn Zepto appoints Rachit Ranjan as chief public policy officer
'In this role, Rachit will build and lead Zepto's policy, regulatory, and government affairs vertical to ensure that Zepto's growth is anchored on principles of trust and transparency with a sustained focus on building socio-economic value for India and Indians,' the company said in a statement.
On joining Zepto, Ranjan said: 'Zepto's incredible growth story has captured the imagination of the entire country. I'm thrilled to join Zepto at such a transformative time for both the company and the quick commerce space. I look forward to working with the amazing team at Zepto to deliver innovation that is responsible and aligned with the broader vision of inclusive growth. In doing so, I also look forward to working in partnership with the Government and stakeholders to ensure Zepto plays a crucial role in realising India's techade.'
Commenting on the appointment, Aadit Palicha, co-founder and chief executive officer of Zepto, said: 'We're thrilled to welcome Rachit to Zepto. As we scale rapidly across India, having a sharp, mission-driven leader in public policy is more important than ever. Rachit brings a deep understanding of the policy landscape and a proven ability to build trust with diverse stakeholders—qualities that are crucial to navigating a fast-evolving regulatory environment and building long-term value.'
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Hindustan Times
11 minutes ago
- Hindustan Times
Committed to fair, balanced deal, says India after Trump announces 25% tariffs
India remains intensely engaged with the US to clinch the comprehensive bilateral trade agreement by autumn 2025 despite President Donald Trump's announcement of 25% tariffs plus penalties starting August 1, people aware of the matter said on Wednesday. Piyush Goyal, India's commerce and industry minister, during a Bloomberg Television interview in London, UK, on Thursday, July 24, 2025. (Bloomberg) In a brief statement, the commerce ministry said it had 'taken note' of Trump's statement and was studying its implications while reaffirming India's commitment to a 'fair, balanced and mutually beneficial' trade deal that protects farmers, entrepreneurs and small businesses. 'The government attaches the utmost importance to protecting and promoting the welfare of our farmers, entrepreneurs, and MSMEs,' the ministry said, adding that it 'will take all steps necessary to secure our national interest, as has been the case with other trade agreements including the latest Comprehensive Economic and Trade Agreement with the UK.' Indian officials and experts pushed back against Trump's characterisation of excessive trade barriers, arguing that his focus on goods trade deficit ignores the broader economic relationship where the US earns tens of billions more annually from services, education, and defence deals, and cited New Delhi's recent free trade agreements with developed economies such as Australia and the UK to demonstrate India's willingness to open up its market with protections for its vulnerable populations . People familiar with the negotiations said New Delhi expects Washington to follow Trump's announcement with a formal letter that would be analysed and responded to appropriately. The Indian negotiating team – which has held five rounds of in-person discussions with its American counterparts -- will in the meantime continue talks for a balanced deal, they added. One of the people aware of the matter pushed back against Trump's characterisation of India as maintaining excessive trade barriers, citing the recently signed free trade agreements with other developed economies including Australia and the United Kingdom where tariffs on most items were slashed. 'Hence, President Trump's generalisation that Indian tariffs are far too high, is not correct,' the person said. 'FTAs are win-win, and not one-sided.' The person highlighted Trump's focus on goods trade surplus while ignoring broader economic ties, saying: 'President Trump has said in a post on Truth Social – 'We have a massive trade deficit with India!!!' – which is just one side of the picture. Bilateral economic relationship is not only goods trade, it also includes trade in services, investments and other significant contributions to the US economy made by Indians.' According to government data, India had a $41.18 billion trade surplus with the US in 2024-25, exporting goods worth $86.51 billion and importing $45.33 billion of American merchandise. However, the people cited above argued this represented only a part of the bilateral relationship. The US gains significant revenue from financial, digital and e-commerce services, fees from students studying in America and defence deals, a second person explained. 'Such cooperation in services and contributions of Indians in American businesses have immense potential for further growth through BTA and other strategic cooperation, provided the US is not fixated with tariffs, and particularly with India's sensitive sectors, which are vital for the survival of millions of Indian subsistence farmers,' the person added. Ajay Srivastava, founder of Global Trade Research Initiative, said the US 'quietly rakes in $80-85 billion every year from India through education, digital services, financial operations, intellectual property royalties, and arms sales.' 'These massive earnings don't show up in the narrow goods trade statistics. When you factor them in, the US isn't running a deficit with India at all, it's sitting on a $35-40 billion surplus,' Srivastava added. The second person aware of the matter said India was negotiating a comprehensive bilateral trade agreement that included not just goods but 'other key sectors such as services, investments, non-tariff barriers, IPRs and customs facilitation.' 'We hope that a successful deal would help in balancing bilateral economic cooperation and prompt the Trump administration to remove reciprocal and punitive tariffs,' the person said. Industry leaders expressed concern about the tariff announcement's timing amid ongoing negotiations. Medical Technology Association of India chairman Pavan Choudary called Trump's move 'economically shortsighted and strategically misguided.' 'As a sovereign nation, India makes independent choices in defence and energy based on national interest and long-term strategic priorities. Attempting to punish these decisions through coercive trade measures is not only inappropriate but also counterproductive,' Choudary said. Agneshwar Sen, trade policy leader at EY India, warned the 25% tariff could directly affect key sectors including marine products, pharmaceuticals, textiles, leather and automobiles where bilateral trade had been 'especially robust.' However, Sen remained optimistic about ongoing negotiations, noting both countries were 'positively engaged' with the US team expected in India on August 24 for the sixth round of talks. 'I am confident that, considering our shared interests and history of cooperation, the two sides will be able to address these contentious issues constructively,' he said. Opposition slams Modi government Opposition parties criticised the government over the developments . Congress general secretary Jairam Ramesh said Prime Minister Modi should 'take inspiration from former prime minister Indira Gandhi and stand up to the president of the United States.' 'All that 'taarif' between him and 'Howdy Modi' has meant little,' Ramesh said, referring to Modi's 2019 rally with Trump in Houston. 'Mr Modi thought that if he kept quiet on the insults that the US President has hurled on India... India would get special treatment at the hands of President Trump. Clearly that has NOT happened.' Rashtriya Janata Dal MP Manoj Jha said his party was 'not very happy that it has happened under the rule of Prime Minister Modi,' while Communist Party of India MP P Sandosh Kumar described the tariffs as 'another insult to India.' DMK leader Tiruchi Siva demanded the prime minister answer questions about the tariffs in Parliament, saying lawmakers had 'not been taken into confidence.'
NDTV
44 minutes ago
- NDTV
Trump "Frustrated" With India Trade Talks, Says White House Aide
Washington: US President Donald Trump is "frustrated" with the lack of progress on trade talks with India and feels that the 25 per cent tariff imposed on the country will "address and remedy" the situation, the White House economic adviser suggested on Wednesday. National Economic Council Director Kevin Hassett indicated that Trump was upset over the way negotiations on the proposed bilateral trade deal were held. The two sides held a series of negotiations on the trade deal but no concrete outcome emerged in view of certain contentious issues. Trump on Wednesday announced the imposition of a 25 per cent tariff on all goods coming from India starting August 1, plus an unspecified penalty for buying Russian crude oil and military equipment. The surprise announcement came a day after Indian officials said that a US trade team would visit from August 25 to negotiate a trade deal. The announcement by Trump is being seen as a pressure tactic to get New Delhi to agree to demands made by the US, which has, in recent days, got favourable trade deals with major partners like Japan, the UK and the European Union. Hassett said India has had a market that's been pretty much closed to American products while the US has been wide open to theirs. He indicated that Trump was frustrated with the lack of progress that the US made with India, but "feels that a 25 per cent tariff will address and remedy the situation in a way that's good for the American people". In a post on social media, Trump said that the US has a massive trade deficit with India and also criticised India for buying a "vast majority" of its military equipment and energy from Russia. "Remember, while India is our friend, we have, over the years, done relatively little business with them because their Tariffs are far too high, among the highest in the World, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any Country," Trump said. "Also, they have always bought a vast majority of their military equipment from Russia, and are Russia's largest buyer of energy, along with China, at a time when everyone wants Russia to stop the killing in Ukraine — All things not Good!" he added. "India will therefore be paying a tariff of 25 per cent, plus a penalty for the above, starting on August 1st," Trump said. Hassett, responding to a question on India facing an additional charge for its purchase of Russian oil, said Trump and US Trade Representative Jamieson Greer will have more information on that "shortly". On the 25 per cent tariff on India, Hassett added that "what's going to happen is that India is going to cut their prices to the US in order to maintain their market share". "That's what everybody else has been doing, and then they might reconsider their practices, which have led to this higher rate. And over time, I would guess the Indian firms will be onshoring production in the US, and Indians might even open their markets more to us, so that we reconsider a future trade deal," he said. On the tariff, Partner at The Asia Group Nisha Biswal said in a statement that the US is using "hardball tactics" when there is an ambitious deal already on the table. "There were many reasons why the final deal seems to have faltered. One, President Trump wanted to retain a minimum 20 per cent baseline tariff on India; this was a non-starter for New Delhi," she said. Biswal, who was Assistant Secretary for South and Central Asian Affairs at the Department of State from 2013 to 2017, added that Trump wanted US agricultural and dairy exports to India and New Delhi has gone as far as it can for now given domestic sensitivities. Trump also wanted to directly negotiate with Prime Minister Narendra Modi since he felt that the deal did not go far enough, while New Delhi thought it had an expansive deal with the US Trade Representative and "didn't want Trump to reopen or renegotiate terms like Vietnam", she said. "Trump is now exerting maximum pressure on India to get Modi's attention. PM Modi may want to examine what Japan, the EU and China did, all of whom have faced Trump's ire. Keep cool, retaliate if you must, but keep the channel open," Biswal said. "Trump wants more than what his negotiators got, and India needs to be ready with what it will give him. While he is throwing everyone in the mix — defence, Russian oil etc. – he is looking for a deal and this is how he negotiates, friend or foe. The real tragedy would be if both sides walk away from a big win. And the implications for US businesses and India's economy could be quite severe," she added.
India Today
an hour ago
- India Today
Trump frustrated with India trade talks, sees 25% tariff as remedy: White House aide
US President Donald Trump is 'frustrated' with the progress of trade deal talks with India and believes that imposing a 25 per cent tariff will 'remedy' the situation. The tariff on Indian goods is set to take effect on August 1, after Washington and New Delhi failed to finalise an interim trade agreement before Trump's self-imposed August 1 deadline.'Well, India has had a market that's been pretty much closed to American products, and we've been wide open to theirs. And I think President Trump is frustrated with the progress we've made with India, but feels that a 25 per cent tariff will address and remedy the situation in a way that's good for the American people,' said White House economic adviser Kevin also announced an additional penalty, criticising India for its continued purchases of oil and military equipment from Russia. In a post on Truth Social, he wrote: 'Remember, while India is our friend, we have, over the years, done relatively little business with them because their Tariffs are far too high, among the highest in the World, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any Country. Also, they have always bought a vast majority of their military equipment from Russia, and are Russia's largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE — ALL THINGS NOT GOOD! INDIA WILL THEREFORE BE PAYING A TARIFF OF 25%, PLUS A PENALTY FOR THE ABOVE, STARTING ON AUGUST FIRST. THANK YOU FOR YOUR ATTENTION TO THIS MATTER. MAGA!'The decision comes after the failure to reach an interim trade deal, with Trump reportedly dissatisfied with the outcomes secured by his negotiators. 'What's going to happen is that India is going to cut their prices to the US in order to maintain their market share,' Hassett added. 'Then they might reconsider their practices, which have led to this higher rate. And over time, I would guess the Indian firms will be onshoring production in the US, and Indians might even open their markets more to us, so that we reconsider a future trade deal.'INDIA'S RESPONSE TO TRUMP'S 25% TARIFFIn response, India's Ministry of Commerce and Industry stated that it is assessing the impact of the US move, but emphasised that national interest remains paramount. "The Government attaches the utmost importance to protecting and promoting the welfare of our farmers, entrepreneurs, and MSMEs. The Government will take all steps necessary to secure our national interest, as has been the case with other trade agreements, including the latest Comprehensive Economic and Trade Agreement with the UK,' the ministry reiterated its commitment to working toward a 'reciprocally advantageous trade agreement,' but with Trump escalating pressure tactics, the path forward remains uncertain.- Ends
