Shivangi Acharya

Correspondent, @Reuters. Previous - @SPGCI, NewsRise via @refinitiv, @nikkeiasia, & @etnowlive. Hindu College, Xavier alumna. Views personal.

[Shivangi Acharya @Acharya0122]

@PiyushGoyal “Manufacturers Make America”.

[Reuters @Reuters]

India busts firm faking expiry dates, nutrition labels on PepsiCo, Nestle food exports https://t.co/IHphgZj3aW https://t.co/IHphgZj3aW

[Nikunj Ohri @Nikunj_Ohri]

India is seeking to push domestic manufacturing for items worth $51 billion in imports as Prime Minister Narendra Modi seeks to reduce the country's reliance on overseas suppliers. With @Acharya0122
More here-https://t.co/sNsejaDDmI

[Aditi Shah @aditishahsays]

#OnReuters The tariff saga continues... now the EU wants zero tariff on India car imports and PM Narendra Modi's government is willing to sweeten its current offer to seal a trade deal. Scoop with @Acharya0122 @Reuters

[Aditi Shah @aditishahsays]

#OnReuters
Indian automakers demand:
No import duty cuts on EVs till 2029, then phased reduction to 30% from over 100%
Some immediate cut on petrol/diesel cars, cut to 30% over a decade
Indian government:
Immediate duty cuts on autos, EVs
#scoop with @Acharya0122 @aftabahmed00

[Reuters Asia @ReutersAsia]

India's economy slows sharply, adding pressure on central bank to cut rates https://t.co/KPrcGSQWLu

[Aditi Shah @aditishahsays]

The headlines and stock market charts are not looking pretty. Everything from cookies to car sales is under pressure as the cost of living surges in India.
Will India's middle class face a harsh winter? @PraveenR_P @Acharya0122 have some deets https://t.co/OWYH4AQSXl

[Ira Dugal @dugalira]

Launching Today!

The India File newsletter, which I will author most weeks to bring you the top India stories of the week with some perspective thrown in.

Click on this link to subscribe so you can get it in your mailbox! (We don’t publish to the web yet so subscribe subscribe at the link below:

https://t.co/f60N8NUPaU

[Ira Dugal @dugalira]

#Budget2024

While narratives grab headlines, a budget should be judged by the numbers. And by that yardstick these are the takeaways IMO.

▶️The government has barely raised total expenditure. The small increase has come on revenue spending while capital spending is constant at already very high levels.

▶️ The increase in transfers to states is noteworthy and the largest jump versus the interim budget.

▶️ Most key schemes have actually not seen a significant increase, housing has seen some.

Read here for a data based look at the budget: https://t.co/2wEcczAuMK

▶️ The 20 bps cut on fiscal deficit was easy to do this year. The starting point was lower since last year’s deficit settled at 5.6%, there was some additional money via tax collections and RBI. So you use it and make your fiscal path from here easier.

▶️ The capital gains tax was a damper, but at 12.5% on long term, it’s not a huge jump. Short term is higher of course so fund managers expect a sentiment hit.

Read here for the market view on tax changes: https://t.co/W3QCunE2pe

▶️ The signalling in the budget was overwhelmingly about jobs and coalition politics, but there was an intent to push through factor market reforms too.

The lower tax on foreign companies is interesting too.

Read here for the big take: https://t.co/KW1eCLSW5b

[Reuters Asia @ReutersAsia]

Taiwan firms shift supply chains to India from China, trade body chief says https://t.co/ygYJO8vqX1

[Ira Dugal @dugalira]

The RBI's KLEMS data, showing a jump in employment particularly in 2023-24, masks the real job problem -- inadequacy of regular waged work, economists say.

Much of this jump in employment is likely from self-employment, unpaid work and people returning to agriculture, suggests the data available till 2022-23, these economists say.

Remember, RBI did not give a break up of the 2023-24 data, just the provisional estimate for the aggregate.

And eventually, as Rupa Rege Nitsure asks -- if so much employment is being generated, why is consumption so weak? (Don't say savings because household savings are also down)

Reuters' Shivangi Acharya and Swati Bhat report.

https://t.co/HG0dXZnd8M

[Munsif Vengattil @MunsifV]

Reuters investigated Foxconn's hiring practices in India over the past year. Here’s what we uncovered.

Married women are barred from an otherwise all-female iPhone assembly workforce.

Foxconn's logic: a married worker comes with “issues”, like pregnancy, or high absenteeism🧵

[Krishn Kaushik @Krishn_]

As most observes across India were surprised by BJP's poor showing in Uttar Pradesh, where it lost 29 seats, denying Modi a majority in the Lok Sabha, @Acharya0122 & I went to Ayodhya and Varanasi to understand what went wrong for the party and the PM. 1/5
https://t.co/kjDnE7iEkb

[Saurabh Sharma @saurabhsherry]

The opening of a grand Hindu temple just three months ahead of India's general election was supposed to be a crowning moment for populist It didn't work out that way.
@Acharya0122
@krishnadas56 and I report on what went wrong for BJP in #Ayodhya
https://t.co/1rOAneQnYr

[Reuters @Reuters]

🔊 At least 15 people have died in a viscous heatwave in India. There are water shortages and animals have been fainting. @Acharya0122 tells us more on the Reuters World News daily podcast https://t.co/Z0hnTbn2K8

[Reuters @Reuters]

As Modi faces resistance, fatigue in India election, parent group steps in https://t.co/g928tSnEM0

[Aditya Kalra @adityakalra]

India PM Narendra Modi loved his AI dance video. I created my own online. AI videos can at times mislead even digitally-literate people. They are spreading fast & also triggering controversies as India election progresses. A @Reuters deep dive: https://t.co/ArtHvsx7YG

[Reuters @Reuters]

Exclusive: India's Modi, chasing reform legacy, shifts income goals for struggling farmers https://t.co/ATBkFX0VIU

[Nikunj Ohri @Nikunj_Ohri]

Replug: India govt panel defers approval to Paytm’s investment in Paytm Payments Services due to Chinese ownership in the co. Although the Home ministry approved the investment, foreign ministry rejected it citing "political grounds". ⁦@ChagantiSingh https://t.co/9G2XndE7p4

[Tanvi Mehta @TanviMehta710]

From helicopters to online ads, India's ruling party BJP is way ahead of its opponents in cornering resources. My story with @Acharya0122 with one day to go for voting.

https://t.co/xemvgKHfsQ