Business

India Examines Effects of US Tariffs to Maintain Trade Stability: Minister

Published

1 year ago

March 18, 2025

The Indian government is actively assessing the effects of the 25% tariff on steel and aluminium imports recently implemented by the United States, as reported in Parliament on Monday.
This import duty was introduced through proclamations by President Donald Trump on February 10 and officially took effect on March 12.

Minister of State for Finance, Pankaj Chaudhary, assured the Lok Sabha that the Department of Commerce is conducting a comprehensive analysis to understand the implications of these new tariffs on India’s trade landscape.

He also noted that there have been no similar proclamations affecting critical sectors such as pharmaceuticals, automobiles, and semiconductors.

In response to a different question, Chaudhary underscored India’s commendable progress in the global battle against money laundering and terrorism financing. He revealed that, out of the 40 recommendations set forth by the Financial Action Task Force (FATF), India achieved either a ‘Compliant’ or ‘Largely Compliant’ rating for 37 of them.
The nation received a ‘Partially Compliant’ status in three areas and recorded no ‘Non-Compliant’ ratings.

Thanks to this high level of compliance, India has been placed under a ‘regular follow-up’ by the FATF, which is the most favorable assessment possible under the organization’s framework. Chaudhary pointed out that only three other G20 countries share this status, reinforcing India’s role in international efforts against financial crimes.

Meanwhile, a report from SBI Research indicates that the tariffs imposed by the US are unlikely to significantly impact Indian exports. This resilience is attributed to India’s diverse trade portfolio and proactive expansion into new markets.
The report highlights that India is working on enhancing value addition in exports, seeking alternative trading routes, and restructuring supply chains that connect with Europe, the US, and the Middle East.

It is estimated that the decline in India’s exports due to these tariffs will be limited to about 3% to 3.5%. However, this decline is expected to be balanced out by increased exports in both the manufacturing and services sectors.

Business

Tomato Prices Crash from Rs.1200 to Rs.80, Farmers in Distress

Published

2 weeks ago

March 25, 2026

Namma Kudla

Business: Tomato prices in Vijayanagara district have dropped sharply, causing heavy losses to farmers and traders. A box of tomatoes that was earlier sold for Rs.1000 to Rs.1200 is now being sold for just Rs.80 to Rs.100.

Due to the sudden fall in prices, farmers are struggling to recover their investment. Many had taken loans to grow the crop and are now facing financial difficulties.

In local markets, traders are selling tomatoes at very low rates. Around 2 to 4 kilograms of tomatoes are being sold for just Rs.20.

The price crash has been linked to multiple reasons. Export of tomatoes to other countries has reduced due to the Iran–Israel conflict. In addition, many hotels are not operating properly due to a shortage of cooking gas cylinders. This has reduced demand for tomatoes.

As a result, both farmers and sellers are facing serious losses, and the situation has become very difficult for them.

Business

Gold Prices Rise in Mangaluru; 24K Gold at Rs.13,564 per Gram

Published

3 weeks ago

March 24, 2026

Namma Kudla

Mangaluru: Gold prices in the coastal city of Mangaluru have been updated today, reflecting the latest market trends.

The price of 24 karat gold (99.9% purity) stands at Rs.13,564 per gram. Meanwhile, 22 karat gold (91.6% purity) is priced at Rs.12,434 per gram. The rate for 18 karat gold (75% purity) is Rs.10,173 per gram.

Mangaluru, known for its rich coastal culture and love for seafood, also has a deep connection with gold. The demand for gold ornaments in the city remains strong, especially during weddings and festivals.

The gold trade in Mangaluru has a long history and continues to play an important role in the local economy. Many families prefer investing in gold due to its cultural and financial value.

Buyers are advised to check the latest rates before making any purchase, as gold prices may change daily based on market conditions.

For those planning to buy gold, using a Gold Rate Calculator can help in getting accurate pricing based on weight and purity.

Business

Good News for Milk Producers in Chikkaballapur – 50 Paise Increase per Litre

Published

1 month ago

March 8, 2026

Namma Kudla

Chikkaballapur: The Chikkaballapur Milk Union (Chimul) has announced good news for milk producers in Chikkaballapur district. The union has decided to increase the milk procurement price by 50 paise per litre, which will benefit dairy farmers in the district.

Earlier, on January 1, Chimul had increased the price by Rs.1 per litre as a New Year benefit to farmers. Now, the union has announced an additional 50 paise increase.

With this latest revision, dairy farmers will receive Rs.36.40 per litre for milk. The 50 paise increase will remain in effect until the end of May.

Chimul President Manjunath Reddy told Public TV that the union will review its profits and may continue the price increase in the future based on financial performance.

The decision is expected to provide some relief and encouragement to dairy farmers in Chikkaballapur district.