Watch: Six-member committee to investigate Hyderabad fire accident
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Time of India
3 hours ago
- Time of India
‘Will know at the end of the week…': After 25% tariff move, Donald Trump says talking to India; signals ‘anti-US' group BRICS a factor
Trump has announced a 25% tariff rate on India, also warning of additional penalties for India's continued trade with Russia for arms and crude oil. (AI image) US President Donald Trump has said that America is in talks with India for a trade deal and the latter's BRICS membership is also a factor to consider. Trump said that India is willing to cut tariffs 'very substantially'. He added, '...you will know at the end of this week.' Earlier in the day Trump had announced a 25% tariff rate on India, also warning of additional penalties for India's continued trade with Russia for arms and crude oil. Asked about tariffs announced on India Trump said, "We are negotiating right now and it's also BRICS. BRICS, which is basically a group of countries that are anti the United States and India is a member of is an attack on the dollar and we are not going to let anybody attack the dollar. So it's partially BRICS and it's partially had a tremendous deficit.' Trump added, 'Prime Minister Modi is a friend of mine, but they don't do very much business in terms of business with us. They sell a lot to us, but we don't buy from the tariff is so high. They have one of the highest tariffs in the world. Now, they are willing to cut it very substantially. But we will see what happens.' 'We are talking to India now. We will see what happens. It doesn't matter too much whether we have a deal or we charge them a certain tariff. But you will know at the end of this week…,' he said. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
Time of India
4 hours ago
- Time of India
Karnataka IT/ITeS Employees Union seeks action against TCS over job cuts
The Karnataka State IT/ITeS Employees Union (KITU) on Wednesday filed an industrial dispute case against Tata Consultancy Services before the state's labour department, accusing the IT market leader of illegal mass retrenchment and seeking prosecution of the management for violation of the Industrial Disputes TCS last Sunday announced that it would cut 2% of the workforce this fiscal year, affecting more than 12,000 of its mid- and senior-level employees. The job cuts come at a time when macro uncertainties and artificial intelligence-led technology disruptions are affecting demand for IT representatives met Karnataka additional labour commissioner G Manjunath demanding initiation of criminal proceedings against the executive involved in 'the criminal act of forcing employees to resign', the union said in a news union said it has received several complaints from TCS employees stating that the management was forcing them to is already facing scrutiny from the central government, including the ministries of electronics and information technology and labour, after another technology employees' association, Nascent Information Technology Employees Senate (NITES), sent out two letters seeking the labour ministry's intervention in this chief labour commissioner's office has sought to meet senior TCS executives on August 1. The labour ministry aims to address concerns over large-scale layoffs and delays in onboarding new recruits.'According to the Industrial Disputes Act, companies employing more than 100 workers are required to obtain prior approval from the government before carrying out any layoffs or retrenchments. Such retrenchments are permitted only for specific reasons and under conditions clearly defined in the Act,' KITU's release said. 'This well-established and consistently upheld labour jurisprudence has been violated by the TCS management, which has resorted to the criminal practice of forcing employees to resign.'In view of the urgency of the situation, the union has urged the additional labour commissioner to take necessary actions to ensure justice for the affected employees, it CEO K Krithivasan has said that the decision to lay off employees was not driven by AI-induced productivity gains, but rather due to skill mismatches or deployment $30 billion revenue-sized IT bellwether has also decided to freeze all lateral hirings of experienced personnel for now and paused its annual salary hikes globally, ET reported on Tuesday.
India Today
6 hours ago
- India Today
Trump signed off India tariff bomb with MAGA. What's the message?
It wasn't as if no one saw this coming. The signs were clear. The warnings, not-so-subtle. On Tuesday, US President Donald Trump once again threatened to slap 25 per cent tariffs on Indian goods. And then, the inevitable finally dropped the bomb on Wednesday, imposing a 25 per cent tariff on Indian imports to the US—plus a penalty for buying military equipment and energy from though Trump began by calling India "our friend" in his Truth Social post, his close aide Lindsey Graham's warning to BRICS countries a week ago—that the US President intends to crush their economies, including India's—suggests otherwise. However, in a quizzical move, Trump signed off his tariff announcement to India by writing 'MAGA!' at the tariff structure has drawn repeated criticism from Trump, dating back to his first term and even before he took oath for the second, with him calling New Delhi a "very big abuser" when it comes to levying duties on US after several rounds of discussion, agriculture remained the biggest bone of contention between the two sides, with India unwilling to open up its farm and dairy sectors to the US— a political self-goal that no ruling party at the Centre is willing to commit what India would have imagined five months ago, when Prime Minister Narendra Modi was in the US envisioning a MEGA partnership, while referencing Trump's MAGA.'In India, we are working towards a Viksit Bharat, which in the American context translates into Make India Great Again (MIGA),' PM Modi had tweeted in February, posing next to PM Modi's vision of a 'Viksit Bharat', hungry for cheap Russian energy to fuel its needs, did not align with Trump's 'Make America Great Again' mantra, who is ready to go to any length to save an extra dime for his later, the idea of MIGA lay in tatters as Trump announced heavy tariffs on India. What piqued interest, however, was his signing off with MAGA—an appeal to his voter base—something he hadn't done while announcing similar tariffs on countries like South Korea, the Philippines, or begs an important question: why sign off with MAGA only for India, but not for others? Is it because Trump is finally playing to the gallery—appearing to please his MAGA base, which was unhappy over his softer stance on immigration and H-1B policies that benefit India—just days before stepping into the Oval Office?advertisementIt was evident when Trump's decision to nominate Chennai-born techie Sriram Krishnan to lead AI policy in his administration set the cat among the pigeons, with MAGA supporters decrying his perceived 'India First' agenda, as his social media reflected support for easing green card restrictions for skilled has carefully course-corrected ever since. Moving further away from PM Modi's equation of MAGA + MIGA = his administration's swift cancellation of the legal status of university students in the US to his 'Big, Beautiful Bill' making money remittances from Indians in the US to India more expensive, Indians are slowly but steadily coming to realise that the American Dream may be over.- Ends
