US Tariffs Threaten India's Electronics Manufacturing Ambitions
Karnataka IT Minister Priyank Kharge warns that new US tariffs could hinder India's competitiveness, particularly in the electronics sector. He calls for immediate central government intervention to protect India's interests and suggests that the 'Make in India' initiative could suffer under global trade pressures.
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Karnataka's IT Minister Priyank Kharge has sounded the alarm over a new 25% US tariff on Indian exports, describing it as a potential blow to the country's electronics manufacturing prospects. He urged the central government to act swiftly to safeguard India's interests, particularly with growing competition from nations like Vietnam and China.
Kharge emphasized that while Karnataka is a leader in technology and innovation, these tariffs could undermine the state's attempts to expand its high-end electronics manufacturing capacity. The minister also noted that though India's electronics sector has some temporary relief, the situation remains tense as global players like Foxconn and Tata Electronics could be impacted.
Highlighting the central government's role, Kharge stressed the need for a robust policy framework to address these trade issues. Meanwhile, Apple CEO Tim Cook identified rising tariff-related costs as a significant concern for the company, indicating broader industry anxiety over evolving trade policies.
(With inputs from agencies.)
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