Business
India supplies 40% of US smartphone imports, replaces China: Report
India is significantly boosting its global electronics trade, now supplying approximately 40% of US smartphone imports previously sourced from China. This shift, alongside growth from ASEAN economies, highlights a broader diversification of import sources driven by domestic priorities and geopolitical realignments. Despite geographical distances, India’s smartphone exports to the US have surged, underscoring its expanding
Business
Crude oil prices plunge over 10% as Iran reopens Strait of Hormuz, stocks rally
Crude oil prices plummeted over 10% as the Strait of Hormuz reopened, easing supply disruption fears and boosting global markets. US stocks rallied significantly, with the S&P 500, Dow Jones, and Nasdaq all seeing substantial gains. This development, following announcements from US and Iranian officials, signals a potential de-escalation of tensions.
Business
From Hormuz to household finance: How global oil shocks can filter into Indian homes
Global oil markets face turmoil due to the Iran-US conflict and Strait of Hormuz disruptions. India, heavily reliant on oil imports, feels the pinch through rising inflation and borrowing costs. The Reserve Bank of India monitors the situation, opting for stability over aggressive action. Households may experience a gradual tightening of budgets as costs rise