Mumbai, April 3: Donald Trump has announced reciprocal tariffs on several countries, including India. The tariffs on India were imposed by the United States President due to unfair trade practices. Various countries have become furious over the steepest tariffs imposed by the US on several sectors. The latest tariffs include 10% baseline tariffs on all the countries and 26% on the Indian goods imported into the United States. These measures could lead to the biggest IT layoffs in India.
The reports mentioned that due to the US tariffs on Indian imports, the leaders of the information technology sector could resort to job cuts, and some have already started raising concerns over it, according to a report by Republic World. The high tariffs on India have already escalated some leaders, who raised their voices for potential tech layoffs. OKCredit Layoffs: CEO Harsh Pokharna Helps 67 Laid Off Employees To Get Job, Says if You Hire Them Like Family, Treat Them Like Family When You Let Them Go.
The report mentioned IT entrepreneur Rakesh Nayak, who mentioned that if Donald Trump agreed to lower the tariffs on India to 20% on software imports, then the leaders would have no other option but to lay off all employees in India. However, the 26% reciprocal tariffs on Indian firms could lead to the biggest tech layoffs in the country’s 16-year history. He posted on X, saying, “I’m preparing for the most difficult decision of my professional life…”
The report also mentioned another concern of industry that the people were laid off after the dot-com bust, subprime crisis and other reasons in history. However, the tech layoffs from US tariffs would be the biggest ever, affecting several employees. The job cuts are implemented for several reasons, such as automation, cutting costs, and restructuring. This year, thousands of people have also been laid off. However, the layoffs due to tariffs could be large-scale. Samsung Strike in India: Workers’ Union at Tamil Nadu’s Sriperumbudur Plant Issues Strike Notice Demanding Reinstatement of 23 Suspended Workers.
The Donald Trump tariffs on India would reportedly affect the country beyond cutting its workforce. They would weaken consumer spending and hamper economic growth. Since India is the biggest recipient of foreign capital, it could also affect it. The industry is reportedly working on strategies to brace for the next steps.
(The above story first appeared on Today News 24 on Apr 03, 2025 03:52 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website todaynews24.top).
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