The U.S. in July imposed a punitive 93.5% tariff on import of graphite anode materials from China, creating an opportunity for India's Epsilon to break Beijing's monopoly on supplies of the key battery component.

PM Modi said that, in face of US tariffs, India was seeking self-reliance with energy independence and development of own defence systems.

Apple will manufacture all the iPhone 17 units from India even after high tariffs from the US. It shows that Apple chooses business continuity over political nuisance.

India has recommended a three-year import tariff of 11%-12% on some steel products to curb shipments from top producer China. The levy, if imposed, will start at 12%. It will be eased to 11.5% in the second year and to 11% in the third year,

The Kotak Mahindra group founder called for “direct fiscal support” from the government to “turbocharge” small businesses in manufacturing, research and technology.