<div dir="ltr" class="css-146c3p1 r-bcqeeo r-1ttztb7 r-qvutc0 r-37j5jr r-a023e6 r-16dba41 r-1adg3ll r-1b5gpbm r-a8ghvy">Stock markets around the world crashed on Monday as growing fears of a global recession hit investor confidence. The sharp correction in world markets came after US President Donald Trump imposed new trade tariffs.</div>
<div dir="ltr" class="css-146c3p1 r-bcqeeo r-1ttztb7 r-qvutc0 r-37j5jr r-a023e6 r-16dba41 r-1adg3ll r-1b5gpbm r-a8ghvy"></div>
<div dir="ltr" class="css-146c3p1 r-bcqeeo r-1ttztb7 r-qvutc0 r-37j5jr r-a023e6 r-16dba41 r-1adg3ll r-1b5gpbm r-a8ghvy">As panic spread, Asian markets saw a massive sell-off today during trading hours. Hong Kong&rsquo;s Hang Seng dropped almost 11 per cent, Japan&rsquo;s Nikkei fell 7 per cent, and China&rsquo;s markets corrected over 6 per cent on the downside. European shares also plunged to a 16-month low.</div>
<h2 dir="ltr" class="css-146c3p1 r-bcqeeo r-1ttztb7 r-qvutc0 r-37j5jr r-a023e6 r-16dba41 r-1adg3ll r-1b5gpbm r-a8ghvy">Indian markets hit hard</h2>
<div dir="ltr" class="css-146c3p1 r-bcqeeo r-1ttztb7 r-qvutc0 r-37j5jr r-a023e6 r-16dba41 r-1adg3ll r-1b5gpbm r-a8ghvy">India&rsquo;s stock market felt the shock, too. The Sensex closed today's trading session 2,226.79 points lower at 73,137.90. The Nifty also closed 3.24 per cent lower at 22,161.60 with a cut of 742.85 points on the index. This sudden drop wiped out investor wealth worth over Rs 20 lakh crore in just a few hours.</div>
<div dir="ltr" class="css-146c3p1 r-bcqeeo r-1ttztb7 r-qvutc0 r-37j5jr r-a023e6 r-16dba41 r-1adg3ll r-1b5gpbm r-a8ghvy"></div>
<div dir="ltr" class="css-146c3p1 r-bcqeeo r-1ttztb7 r-qvutc0 r-37j5jr r-a023e6 r-16dba41 r-1adg3ll r-a8ghvy r-p1pxzi">Also Read:&nbsp;<a href="https://www.wionews.com/videos/global-stock-market-tumbles-bitcoin-crashes-over-7-to-below-78000-8936307">Global stock market tumbles: Bitcoin crashes over 7% to below $78,000</a></div>
<h2 dir="ltr" class="css-146c3p1 r-bcqeeo r-1ttztb7 r-qvutc0 r-37j5jr r-a023e6 r-16dba41 r-1adg3ll r-1b5gpbm r-a8ghvy">Pakistan suspends stock trading</h2>
<div dir="ltr" class="css-146c3p1 r-bcqeeo r-1ttztb7 r-qvutc0 r-37j5jr r-a023e6 r-16dba41 r-1adg3ll r-1b5gpbm r-a8ghvy">In Pakistan, things got worse. The Karachi Stock Exchange (KSE) closed 3,882.17 points lower &mdash; a fall of over 3.27 per cent. The KSE 100 index opened with a cut of 8,600 points, due to which the trading session was halted for 45 minutes to control panic selling. According to officials, all buy and sell orders were cancelled, and trading resumed after a short break.</div>
<div dir="ltr" class="css-146c3p1 r-bcqeeo r-1ttztb7 r-qvutc0 r-37j5jr r-a023e6 r-16dba41 r-1adg3ll r-1b5gpbm r-a8ghvy"></div>
<div dir="ltr" class="css-146c3p1 r-bcqeeo r-1ttztb7 r-qvutc0 r-37j5jr r-a023e6 r-16dba41 r-1adg3ll r-1b5gpbm r-a8ghvy">Also Read: <a href="https://www.wionews.com/india-news/india-has-discovered-over-93000-tonnes-of-uranium-since-2020-report-8934892">India has discovered over 93,000 tonnes of uranium since 2020: Report</a></div>
<div dir="ltr" class="css-146c3p1 r-bcqeeo r-1ttztb7 r-qvutc0 r-37j5jr r-a023e6 r-16dba41 r-1adg3ll r-1b5gpbm r-a8ghvy"></div>
<div dir="ltr" class="css-146c3p1 r-bcqeeo r-1ttztb7 r-qvutc0 r-37j5jr r-a023e6 r-16dba41 r-1adg3ll r-1b5gpbm r-a8ghvy">With no clear end to the US-China trade dispute, markets might remain unstable in the coming days. Analysts say investors should stay cautious and wait to see how things unfold globally.</div>
<div dir="ltr" class="css-146c3p1 r-bcqeeo r-1ttztb7 r-qvutc0 r-37j5jr r-a023e6 r-16dba41 r-1adg3ll r-1b5gpbm r-a8ghvy"></div>
<div dir="ltr" class="css-146c3p1 r-bcqeeo r-1ttztb7 r-qvutc0 r-37j5jr r-a023e6 r-16dba41 r-1adg3ll r-a8ghvy r-p1pxzi">Experts also said global uncertainty and fears of a long trade war between big economies like the US and China are making investors nervous. VK Vijayakumar, market strategist at Geojit Financial Services, said, &ldquo;Markets are highly volatile right now. No one knows how long this situation will last.&rdquo;</div>

The Karachi Stock Exchange (KSE) closed 3,882.17 points lower  — a fall of over 3.27 per cent. The KSE 100 index opened with a cut of 8,600 points, due to which the trading session was halted for 45 minutes to control panic selling.

Stock markets around the world crashed on Monday as growing fears of a global recession hit investor confidence. The sharp correction in world markets came after US President Donald Trump imposed new trade tariffs. As panic spread, Asian markets saw a massive sell-off today during trading hours. Hong Kong’s Hang Seng dropped almost 11 per cent, Japan’s Nikkei fell 7 per cent, and China’s markets corrected over 6 per cent on the downside. European shares also plunged to a 16-month low. Indian markets hit hard India’s stock market felt the shock, too. The Sensex closed today's trading session 2,226.79 points lower at 73,137.90. The Nifty also closed 3.24 per cent lower at 22,161.60 with a cut of 742.85 points on the index. This sudden drop wiped out investor wealth worth over Rs 20 lakh crore in just a few hours. Also Read: Global stock market tumbles: Bitcoin crashes over 7% to below $78,000 Pakistan suspends stock trading In Pakistan, things got worse. The Karachi Stock Exchange (KSE) closed 3,882.17 points lower — a fall of over 3.27 per cent. The KSE 100 index opened with a cut of 8,600 points, due to which the trading session was halted for 45 minutes to control panic selling. According to officials, all buy and sell orders were cancelled, and trading resumed after a short break. Also Read: India has discovered over 93,000 tonnes of uranium since 2020: Report With no clear end to the US-China trade dispute, markets might remain unstable in the coming days. Analysts say investors should stay cautious and wait to see how things unfold globally. Experts also said global uncertainty and fears of a long trade war between big economies like the US and China are making investors nervous. VK Vijayakumar, market strategist at Geojit Financial Services, said, “Markets are highly volatile right now. No one knows how long this situation will last.”

Sensex, Nifty bleed while Pakistan suspends trading amid Trump’s trade war

American billionaire and entrepreneur Mark Cuban has raised serious concerns about former President Donald Trump&rsquo;s latest economic plans, warning that they could lead the United States into a crisis even deeper than the 2008 recession.
In a series of posts on the social media platform Bluesky, the Shark Tank star Mark Cuban said that Trump's new aggressive tariff policies, combined with federal workforce cuts led by the DOGE office, could do lasting damage to the US economy.
Also Read: <a href="https://www.wionews.com/india-news/rajnath-singh-inaugurates-ins-sunayna-and-other-navy-infrastructure-worth-rs-2000-crore-8929833">Rajnath Singh inaugurates INS Sunayna and other navy infrastructure worth Rs 2000 crore</a>
&nbsp;"If these tariffs stay for years and are inflationary, and DOGE keeps cutting and firing people, we&rsquo;ll be in a far worse situation than 2008," Cuban said.
<h2 dir="ltr">What&rsquo;s behind Cuban&rsquo;s warning?</h2>
The Trump administration recently announced a wide set of tariffs on imported goods, aiming to protect domestic industries. However, these tariffs could raise prices on essential items like food, clothes, and cars, leading to inflation and reduced consumer spending.
At the same time, the DOGE office (a federal agency focused on government reform) has been cutting jobs in key agencies like the Consumer Financial Protection Bureau and the IRS&rsquo;s tax evasion unit, raising concerns about weakened oversight and reduced tax revenue.
While President Trump has admitted there may be "a little pain" in the short term, he insists the plan will make America stronger in the long run. On Saturday, he posted on Truth Social:&nbsp;&nbsp;
<meta>
<blockquote class="twitter-tweet publive-iframes-block publive-Twitter-block" contenteditable="false" width="600" height="400" id="PL_blockquote_block-m95lm6n7-yuf17x62-e7d5m89z">
<a href="https://t.co/qtE68AtBIT">pic.twitter.com/qtE68AtBIT</a>
&mdash; Donald J. Trump Posts From His Truth Social (@TrumpDailyPosts) <a href="https://twitter.com/TrumpDailyPosts/status/1908747229134811443?ref_src=twsrc%5Etfw">April 6, 2025</a></blockquote>
<h2 dir="ltr">Markets react as fears grow</h2>
Following the announcement of the new tariff plan, the stock market took a sharp dip, and many Americans began stockpiling essential goods while cutting back on luxury spending. Economists and trade experts have warned that the plan could lead to higher import costs, making everyday items more expensive.
A top economist at JPMorgan Chase even issued a note titled "There Will Be Blood,"increasing the chances of a global recession from 40 per cent to 60 per cent.
Also read:&nbsp;<a href="https://www.wionews.com/india-news/cbse-class-10-results-2025-expected-shortly-class-12-updates-also-awaited-8929753">CBSE class 10 results 2025 expected shortly, class 12 updates also awaited</a>
<h2 dir="ltr">Why this matters: Lessons from 2008</h2>
The 2008 financial crisis was one of the worst economic downturns in US history. During that time, GDP fell more than 4 per cent, unemployment hit 10 per cent, and the housing market collapsed.
Cuban&rsquo;s warning suggests that the current mix of trade protectionism and government downsizing could repeat or even worsen that scenario.
While Cuban didn&rsquo;t explain all the connections in detail, experts say weakening consumer protections and reducing tax enforcement could hurt middle and working-class Americans the most.

President Trump has admitted there may be "a little pain" in the short term; he insists the plan will make America stronger in the long run.

American billionaire and entrepreneur Mark Cuban has raised serious concerns about former President Donald Trump’s latest economic plans, warning that they could lead the United States into a crisis even deeper than the 2008 recession. In a series of posts on the social media platform Bluesky, the Shark Tank star Mark Cuban said that Trump's new aggressive tariff policies, combined with federal workforce cuts led by the DOGE office, could do lasting damage to the US economy. Also Read: Rajnath Singh inaugurates INS Sunayna and other navy infrastructure worth Rs 2000 crore "If these tariffs stay for years and are inflationary, and DOGE keeps cutting and firing people, we’ll be in a far worse situation than 2008," Cuban said. What’s behind Cuban’s warning? The Trump administration recently announced a wide set of tariffs on imported goods, aiming to protect domestic industries. However, these tariffs could raise prices on essential items like food, clothes, and cars, leading to inflation and reduced consumer spending. At the same time, the DOGE office (a federal agency focused on government reform) has been cutting jobs in key agencies like the Consumer Financial Protection Bureau and the IRS’s tax evasion unit, raising concerns about weakened oversight and reduced tax revenue. While President Trump has admitted there may be "a little pain" in the short term, he insists the plan will make America stronger in the long run. On Saturday, he posted on Truth Social: pic.twitter.com/qtE68AtBIT — Donald J. Trump Posts From His Truth Social (@TrumpDailyPosts) April 6, 2025 Markets react as fears grow Following the announcement of the new tariff plan, the stock market took a sharp dip, and many Americans began stockpiling essential goods while cutting back on luxury spending. Economists and trade experts have warned that the plan could lead to higher import costs, making everyday items more expensive. A top economist at JPMorgan Chase even issued a note titled "There Will Be Blood,"increasing the chances of a global recession from 40 per cent to 60 per cent. Also read: CBSE class 10 results 2025 expected shortly, class 12 updates also awaited Why this matters: Lessons from 2008 The 2008 financial crisis was one of the worst economic downturns in US history. During that time, GDP fell more than 4 per cent, unemployment hit 10 per cent, and the housing market collapsed. Cuban’s warning suggests that the current mix of trade protectionism and government downsizing could repeat or even worsen that scenario. While Cuban didn’t explain all the connections in detail, experts say weakening consumer protections and reducing tax enforcement could hurt middle and working-class Americans the most.

‘Worse than 2008 crisis’: Mark Cuban warns of deep recession fuelled by Trump-era tariffs and cuts

India’s economic outlook for 2025 is shaped by both resilience and risks, according to the Ministry of Finance’s monthly economic review. The report indicates that rural consumption is expected to remain strong, while urban demand shows mixed signals. In 2024, rural areas exhibited continued consumption strength, but urban demand's recovery remains uncertain, with the private sector’s hiring and compensation trends playing a key role in shaping consumption patterns.

Geopolitical risks weigh on India’s growth

Goldman Sachs has signaled a recovery for India, suggesting that the worst phase of the country’s economic slowdown and earnings decline is likely behind. The global financial firm forecasts a real GDP growth of 6.4% in the second half of 2025, indicating a potential rebound for Asia’s third-largest economy.

India’s growth forecasts rise amid recovery

The deep selloff in financial markets point to recession risks. Is a recession imminent? While market moves suggest so, the US Economy's resilience in the face of 'vibe-cession' or economic slowdown fears over the last two years tells us otherwise. Take a look at this next report for more. . .

Market moves point to recession fears

The global real estate market shows a diverse range of rental yields across different countries, with some offering attractive returns for property investors.

Best global rental yields for property investors

India’s wealthiest are packing their bags—not for vacation, but for good. As Dubai’s golden visa boom fuels wealth migration, billions in tax revenue are slipping. With high rental yields, zero capital gains tax, and long-term residency perks, is India losing its best and brightest to a tax-friendly haven in the region? That's what this report decodes...

India’s rich flock to Dubai for residency

Despite AI chatbots becoming regulars in customer service, they’re still “waiting” to fully live up to their promise of reducing wait times. According to the servicenow customer experience report, Indian consumers collectively spent a whopping 15 billion hours on hold last year. The report surveyed 5,000 Indian consumers and 204 customer service agents, revealing a big “disconnect” between expectations and reality.

15 billion hours lost in Indian service waits

Tax perks drive India’s wealth to Dubai

It’s been a rough year for the tech giants known as the "magnificent seven. " these major companies, including Tesla, Meta, Nvidia, Alphabet, Microsoft, Apple, and Amazon, have all seen significant losses in 2025 so far. Tesla is the hardest hit, with shares down over 40%. Meta is the only one still in positive territory, showing small gains, while the others have faced steep drops in value. Tesla’s market value has fallen by $780 billion, Apple’s by nearly $700 billion, and Nvidia has seen a 14% decline.

2025 tech market: The magnificent 7’s tough start

When markets tank and uncertainty looms, the rich aren't running for cover—they’re gearing up. The elite knows the golden rule of wealth: uncertainty equals opportunity. While the masses scramble to protect their portfolios, the 1% sees a chance to load up on undervalued assets, capitalising on the fear others can’t stomach.

How wealthy investors turn crisis into profit

Concerns over the continued detention of President Tayyip Erdogan's primary political opponent threaten to dampen Turkish markets again this week after the country's stocks marked their worst week since the wake of the 2008 Lehman Brothers collapse.

Turkiye marks worst stock slump since 2008

Nike, once a dominant stock and a poster-brand for the global sportswear industry, has seen its stock value plummet, hitting a five-year low after a 9% drop in share price. The company's market capitalization has now fallen below $100 billion for the first time since the pandemic

Tracking trends in the consumer sector

US Markets ended a four-week losing streak on Friday, closing slightly higher after a volatile session driven by options expirations and trade policy developments.

Indian stocks record best week in 4 years

Indian mangoes, known for their exceptional taste and aroma, have become a highly coveted delicacy around the world.

But why are they so expensive compared to other varieties? 

Our next report breaks down the data behind the price of Indian mangoes.

Take a look. . .

India is the largest producer of mangoes

In mid-March, Marina Budiman, President Commissioner of DCI Indonesia, saw her fortune soar to an impressive $7.5 billion. Over the span of three weeks, she became $350 million richer each day as her company’s shares repeatedly hit the daily limit. However, this rapid rise was short-lived. In just three days, DCI’s stock crashed, wiping out half of their combined fortunes. Watch in for more details!

Indonesia's richest woman loses $3.6 bn in 3 days

West Asia has largely avoided direct impacts from the global trade war sparked by US Tariffs, but economic challenges still loom. While tariffs on steel and aluminum have minimal effect on the region, the broader slowdown in global trade threatens oil prices, the primary driver of many West Asian economies.

Oil prices at risk amid global tariffs?

The upcoming week is a major one for global markets-- will the Federal Reserve hold steady or make a move on interest rates?

Recession risks rise ahead of Fed's policy

Consumer sentiment in the US Dropped sharply in March, reaching its lowest level since November 2022, according to the latest University of Michigan survey. The index fell from February and reflects growing concerns over inflation and stock market instability.

Inflation fears drive US consumer sentiment decline

Haldiram’s, India’s leading ethnic snacks company,  

Is set to sell an additional 5 percent stake for around 500 million dollars as part of its pre-IPO placement. 

This comes after Singapore-based Temasek secured a 10 percent stake in the company for 1 billion dollars, valuing Haldiram’s at 10 billion dollars. 

With multiple foreign buyers eyeing a stake in the company, the question is: is Haldiram’s shifting its base?

Temasek takes a ‘bite’ of haldiram's

Morgan Stanley sees India as a top stock picker's market, citing attractive valuations and a strong recovery outlook. The brokerage predicts India will gain a larger share in global markets as economic indicators improve. Could this be the right time to invest in Indian stocks?

Morgan Stanley bullish on India's stock market comeback

China and the US have been locked in a fierce trade and tech war for years, but Beijing is now shifting its strategy. With Donald Trump potentially returning for a second term, China appears to be learning from its past trade battles.

China adopts new strategy in ongoing trade war with US

WH Smith is set to sell all its high street stores, marking the end of a 233-year legacy. With 500 stores up for sale and 5,000 jobs at risk, the retailer is shifting focus to travel locations. The decision signals a major shift in the UK retail landscape.

WH Smith to exit high streets after 233 years

While markets remain volatile amid US President Donald Trump’s tariffs onslaught, big tech giants seem to follow Trump’s aggressive ‘America first’ stance. The country is witnessing a surge in AI and semiconductor investments, with major firms committing hundreds of billions of dollars to expand domestic production. Watch in for more details!

Apple Pledges 20,000 R&D Jobs In The US

Apple has announced plans to invest more than $500 billion in the United States over the next four years. The commitment, which builds on the company&rsquo;s long-standing investment in American innovation and manufacturing, will focus on artificial intelligence, silicon engineering, and workforce development.
Chief Executive Officer Tim Cook stated that Apple remains committed to supporting American manufacturing, with plans to expand facilities and work with businesses across the country. The investment includes the expansion of Apple&rsquo;s Advanced Manufacturing Fund, the establishment of a new manufacturing facility in Houston, and increased research and development spending.
As part of its investment, Apple will open a 250,000-square-foot manufacturing facility in Houston in 2026. The site will produce servers for Apple Intelligence, the company&rsquo;s AI-driven personal assistant system. Apple Intelligence relies on secure cloud computing, with servers designed to be energy efficient. Apple also plans to expand data centre capacity in North Carolina, Iowa, Oregon, Arizona, and Nevada.
Also read: <a href="https://www.wionews.com/india-news/human-calculator-14-year-old-indian-breaks-6-math-world-records-in-1-day-8752128">'Human calculator': 14-year-old Indian breaks 6 math world records in 1 day</a>
<h2>Advanced Manufacturing Fund</h2>
Apple will double its US Advanced Manufacturing Fund from $5 billion to $10 billion to support high-skilled manufacturing jobs. The fund will include a multibillion-dollar commitment to silicon production at TSMC&rsquo;s Fab 21 facility in Arizona, where Apple is the largest customer. Silicon manufacturing for Apple products is already taking place in 24 factories across 12 states, with companies such as Broadcom, Texas Instruments, Skyworks, and Qorvo involved in the supply chain.
The company is also increasing its research and development investment in the US. Over the past five years, Apple has nearly doubled its spending in this area, with a focus on custom silicon, hardware engineering, AI, and software development. Apple has announced that it will hire approximately 20,000 employees, primarily in R&amp;D and technology-related roles.
To support skills development, Apple will open the Apple Manufacturing Academy in Detroit. The facility will provide training in AI and smart manufacturing techniques, with input from Apple engineers and academic experts. The academy will offer free courses on project management and manufacturing process optimisation to help businesses improve productivity.
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<h2>Education initiatives</h2>
Apple&rsquo;s investment also extends to education initiatives, including its New Silicon Initiative, which provides training in hardware engineering and chip design. The programme has expanded to multiple universities, with new collaborations planned.
Apple currently supports over 2.9 million jobs in the US&nbsp;through direct employment, supplier partnerships, and the app economy. The company has also paid over $75 billion in U.S. taxes over the past five years.

Business & Economy: Apple has announced that it will double its US Advanced Manufacturing Fund from $5 billion to $10 billion to support high-skilled manufacturing jobs.

Apple has announced plans to invest more than $500 billion in the United States over the next four years. The commitment, which builds on the company’s long-standing investment in American innovation and manufacturing, will focus on artificial intelligence, silicon engineering, and workforce development. Chief Executive Officer Tim Cook stated that Apple remains committed to supporting American manufacturing, with plans to expand facilities and work with businesses across the country. The investment includes the expansion of Apple’s Advanced Manufacturing Fund, the establishment of a new manufacturing facility in Houston, and increased research and development spending. As part of its investment, Apple will open a 250,000-square-foot manufacturing facility in Houston in 2026. The site will produce servers for Apple Intelligence, the company’s AI-driven personal assistant system. Apple Intelligence relies on secure cloud computing, with servers designed to be energy efficient. Apple also plans to expand data centre capacity in North Carolina, Iowa, Oregon, Arizona, and Nevada. Also read: 'Human calculator': 14-year-old Indian breaks 6 math world records in 1 day Advanced Manufacturing Fund Apple will double its US Advanced Manufacturing Fund from $5 billion to $10 billion to support high-skilled manufacturing jobs. The fund will include a multibillion-dollar commitment to silicon production at TSMC’s Fab 21 facility in Arizona, where Apple is the largest customer. Silicon manufacturing for Apple products is already taking place in 24 factories across 12 states, with companies such as Broadcom, Texas Instruments, Skyworks, and Qorvo involved in the supply chain. The company is also increasing its research and development investment in the US. Over the past five years, Apple has nearly doubled its spending in this area, with a focus on custom silicon, hardware engineering, AI, and software development. Apple has announced that it will hire approximately 20,000 employees, primarily in R&D and technology-related roles. To support skills development, Apple will open the Apple Manufacturing Academy in Detroit. The facility will provide training in AI and smart manufacturing techniques, with input from Apple engineers and academic experts. The academy will offer free courses on project management and manufacturing process optimisation to help businesses improve productivity. Also read: Research reveals UK universities lead in producing world leaders Education initiatives Apple’s investment also extends to education initiatives, including its New Silicon Initiative, which provides training in hardware engineering and chip design. The programme has expanded to multiple universities, with new collaborations planned. Apple currently supports over 2.9 million jobs in the US through direct employment, supplier partnerships, and the app economy. The company has also paid over $75 billion in U.S. taxes over the past five years.

Apple to invest over $500 billion in the US over the next four years

Indian equity markets are bracing for a period of turbulence as foreign institutional investors pull back, signaling potential headwinds ahead. A recent report from the bank of America suggests that India’s high valuation and changing global liquidity conditions could impact market performance in the near term.

Trump's trade policies add layers of uncertainty

Can Indian stocks bounce back in 2025?

It appears China is getting richer as India expands its electric vehicle (EV) sector, driven by government initiatives and consumer adoption. In 2023-24, the country sold 1.9 million EVs, making up 7.46 per cent of total automobile sales, said a report in The Print. This growth, it noted, led to increased dependence on Chinese imports, particularly for lithium-ion batteries and other key components.
According to The Print report, India is heavily reliant on China for its EV supply chain, with imports of EV batteries and magnets exceeding $7 billion over the last five years. These imports do not include smaller but essential components such as battery insulation materials, noted the report. Experts have raised concerns that this growing dependence may turn India into an "EV colony" of China, further widening the trade imbalance between the two nations.
China plays a major role in the global EV industry, accounting for over 53 per cent of the world&rsquo;s EV battery production in 2024. The country&rsquo;s government-backed investments in the sector have helped establish a strong global presence, affecting not only India but also markets in the US and the European Union.
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Chinese firms such as BYD and MG Motor have expanded their presence in India, with projections indicating that one in three EVs on Indian roads could be manufactured by Chinese companies in the near future. This trend raises concerns about economic and strategic vulnerabilities, as China holds significant leverage over the supply chain.
<h2 class="p1">India's Lack of Domestic Battery Manufacturing</h2>
Despite India&rsquo;s efforts to boost domestic EV production, the country currently lacks significant battery manufacturing capacity. Most Indian EV manufacturers, including Tata Motors, Mahindra &amp; Mahindra, Ola Electric, TVS, and Ather, do not produce their own batteries. Instead, they rely on imports of battery cells, mainly from China, with local companies like Exide Energy and Amara Raja assembling them in India.
Industry experts highlight that manufacturing EV batteries requires the production of battery cells, which no Indian company currently undertakes. This adds to India&rsquo;s import dependence, as lithium-ion battery imports have more than doubled since 2019, with China supplying over 75 per cent of these imports.
<h2 class="p1">Motors and Rare Earth Metals</h2>
In addition to batteries, Indian EV manufacturers rely on China for rare earth metals used in motors and controllers. Permanent magnets made from neodymium-iron-boron (Nd-Fe-B) are essential components of EV motors, and India has no significant domestic production capacity for these materials. As a result, the country must import them, with China serving as the primary supplier.
Chinese firms control a significant portion of the global supply of rare earth metals, further solidifying their influence over India&rsquo;s EV sector. Smaller EV components, such as insulation materials and contractors, are also primarily sourced from China.
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<h2 class="p1">Policy Measures and Trade Shifts</h2>
To reduce import dependence and promote domestic manufacturing, India has imposed high import duties on completely built EVs, ranging from 70 per cent to 100 per cent. However, in March 2024, the government lowered import duties to 15 per cent for EV manufacturers committing to invest $500 million in local production.
This policy is expected to facilitate the entry of international players like Tesla into the Indian market. At the same time, German automakers, including Audi, Mercedes, Volkswagen, BMW, and Skoda, have gained a stronger foothold in the Indian EV import market. Germany accounted for a significant share of EV imports into India in 2023, surpassing China.
<h2 class="p1">Challenges and the Road Ahead</h2>
Experts suggest that India needs to focus on research and development (R&amp;D) to reduce dependency on China and establish a competitive EV industry. Currently, Indian battery companies allocate less than 2 per cent of their net sales to R&amp;D, while Chinese firms like BYD invest at least 10 per cent.
Some industry analysts argue that India should prioritise innovation in battery technology rather than competing with China in mass production. Given the rapid advancements in EV battery technology, investment in outdated battery manufacturing processes could become obsolete within a few years.
China's dominance in the global EV supply chain remains a significant challenge for India. Without indigenous alternatives for batteries, motors, and other key components, India's EV industry remains largely an assembly operation dependent on foreign imports. While domestic manufacturing efforts are underway, it will take years for India to establish a self-sufficient EV ecosystem.

Indian EV manufacturers rely on China for rare earth metals used in motors and controllers. Permanent magnets made from neodymium-iron-boron (Nd-Fe-B) are essential components of EV motors, and India has no significant domestic production capacity for these materials.

It appears China is getting richer as India expands its electric vehicle (EV) sector, driven by government initiatives and consumer adoption. In 2023-24, the country sold 1.9 million EVs, making up 7.46 per cent of total automobile sales, said a report in The Print. This growth, it noted, led to increased dependence on Chinese imports, particularly for lithium-ion batteries and other key components. According to The Print report, India is heavily reliant on China for its EV supply chain, with imports of EV batteries and magnets exceeding $7 billion over the last five years. These imports do not include smaller but essential components such as battery insulation materials, noted the report. Experts have raised concerns that this growing dependence may turn India into an "EV colony" of China, further widening the trade imbalance between the two nations. China plays a major role in the global EV industry, accounting for over 53 per cent of the world’s EV battery production in 2024. The country’s government-backed investments in the sector have helped establish a strong global presence, affecting not only India but also markets in the US and the European Union. Also read: China's BYD to complete USD 1 billion Indonesia plant by year-end, executive says Chinese firms such as BYD and MG Motor have expanded their presence in India, with projections indicating that one in three EVs on Indian roads could be manufactured by Chinese companies in the near future. This trend raises concerns about economic and strategic vulnerabilities, as China holds significant leverage over the supply chain. India's Lack of Domestic Battery Manufacturing Despite India’s efforts to boost domestic EV production, the country currently lacks significant battery manufacturing capacity. Most Indian EV manufacturers, including Tata Motors, Mahindra & Mahindra, Ola Electric, TVS, and Ather, do not produce their own batteries. Instead, they rely on imports of battery cells, mainly from China, with local companies like Exide Energy and Amara Raja assembling them in India. Industry experts highlight that manufacturing EV batteries requires the production of battery cells, which no Indian company currently undertakes. This adds to India’s import dependence, as lithium-ion battery imports have more than doubled since 2019, with China supplying over 75 per cent of these imports. Motors and Rare Earth Metals In addition to batteries, Indian EV manufacturers rely on China for rare earth metals used in motors and controllers. Permanent magnets made from neodymium-iron-boron (Nd-Fe-B) are essential components of EV motors, and India has no significant domestic production capacity for these materials. As a result, the country must import them, with China serving as the primary supplier. Chinese firms control a significant portion of the global supply of rare earth metals, further solidifying their influence over India’s EV sector. Smaller EV components, such as insulation materials and contractors, are also primarily sourced from China. Also read: A rare spectacle of 125 vintage cars and 50 vintage motorcycles! Policy Measures and Trade Shifts To reduce import dependence and promote domestic manufacturing, India has imposed high import duties on completely built EVs, ranging from 70 per cent to 100 per cent. However, in March 2024, the government lowered import duties to 15 per cent for EV manufacturers committing to invest $500 million in local production. This policy is expected to facilitate the entry of international players like Tesla into the Indian market. At the same time, German automakers, including Audi, Mercedes, Volkswagen, BMW, and Skoda, have gained a stronger foothold in the Indian EV import market. Germany accounted for a significant share of EV imports into India in 2023, surpassing China. Challenges and the Road Ahead Experts suggest that India needs to focus on research and development (R&D) to reduce dependency on China and establish a competitive EV industry. Currently, Indian battery companies allocate less than 2 per cent of their net sales to R&D, while Chinese firms like BYD invest at least 10 per cent. Some industry analysts argue that India should prioritise innovation in battery technology rather than competing with China in mass production. Given the rapid advancements in EV battery technology, investment in outdated battery manufacturing processes could become obsolete within a few years. China's dominance in the global EV supply chain remains a significant challenge for India. Without indigenous alternatives for batteries, motors, and other key components, India's EV industry remains largely an assembly operation dependent on foreign imports. While domestic manufacturing efforts are underway, it will take years for India to establish a self-sufficient EV ecosystem.

'$7 billion in 5 years': How China is getting rich from India's EV boom, says report

US President Donald Trump floated new universal tariffs of 25% on autos, drugs, and chips, saying they could come as early as April. With this proposal, Trump escalated his tariff rhetoric. In response, India has called for a bilateral meeting with the US To discuss trade ties. Japan has raised auto tariff concerns with the US, seeking concessions. In the report, we look at if Trump's tariff strategy as leverage to negotiate deals is working.

Trump's escalates tariff threat with new 25% universal taxes

Hong Kong’s interbank liquidity is severely strained as local banks borrowed a record $707 million, the highest amount in over five years. The Hong Kong monetary authority, the city’s de-facto central bank, stepped in to offer temporary cash through its discount window. This surge in borrowing comes as demand for Hong Kong equities has increased significantly. The rally has put pressure on the financial system. The city's funding costs have spiked to a near six-week high of 4. 07%.

Hong Kong banks borrow record $707 mn amid stock surge

India’s edtech sector has seen a dramatic shift with the downfall of Byju’s, once valued at $22 billion. While many of its acquired startups crumbled, great learning has emerged as a rare survivor, regaining independence and returning to profitability.

How great learning escaped Byju’s collapse

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