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India gets tariff relief as US announces 90-day reprieve

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In a significant shift in U.S. trade policy, President Donald Trump announced a 90-day pause on increased tariffs for over 75 countries that refrained from retaliating against earlier U.S. import duties. The move marks a strategic softening in response to market pressures and ongoing global trade tensions—particularly with China.

  • Tariff Reprieve for Over 75 Nations:
    • A 90-day pause on higher tariffs announced for countries that have not retaliated against U.S. import levies.
    • These countries will face a reduced 10% reciprocal tariff during this period.
    • India is among the key beneficiaries, having opted for diplomatic dialogue over retaliation.
  • India’s Position:
    • Faced a previous 26% tariff under U.S. policy.
    • Chose not to impose counter-tariffs, instead engaging diplomatically.
    • High-level talks held between India’s External Affairs Minister S. Jaishankar and U.S. Secretary of State Marco Rubio aimed at a bilateral trade deal.
  • Escalation with China:
    • China responded to initial U.S. tariffs (20%, 34%, then 50%) with its own 84% tariff on American goods.
    • In response, Trump announced a new 125% tariff on Chinese imports.
    • Trump cited China’s “lack of respect” for global trade norms as justification.
  • Market & Business Reaction:
    • The pause in tariffs led to a strong rally in global stock markets, adding $1.5 trillion in value.
    • Influential investors like Bill Ackman supported the move.
    • Internal dissent continued, with Tesla CEO Elon Musk
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National News

Shree Ramkrishna Exports Launches “Kriam Pharma”

Kriam Pharma to Target Key Therapeutic Segments with Direct-to-Chemist Model; Backed by Gates Foundation for South Africa Supply, Aims Pan-India Reach by 2030 and Over 3,500 Jobs

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Shree Ramkrishna Exports (SRK), a leader in the natural diamond industry,has forayed into healthcare with the launch of “Kriam Pharma.” The inauguration ceremony, held in Surat under the theme “Aarogyam: A New Flight towards Health & Healing”, marked the official unveiling of this new venture.

The launch event was graced by dignitaries including Surat Mayor Daksheshbhai Mavani, SRK Founder & Chairman Govindbhai Dholakia, Dr Vijay Agarwal, President, Consortium of Accredited Healthcare Organizations (CAHO), Dr Giridhar Gyani, Director General, Association of Healthcare Providers of India (AHPI), Mathurbhai Savani, Chairman of Kiran Hospital, Arnav Kapoor, Deputy Director of Bill & Melinda Gates Foundation, Padma Shri Savjibhai Dholakia of Hari Krishna Exports and several leaders from the healthcare ecosystem.

Speaking on the occasion, Tej Dholakia, Founder of Kriam Pharma said, “Healthcare is a necessity for everyone, yet access to quality medicines at affordable prices remains a challenge. With Kriam Pharma, we aim to bridge this gap by delivering high-quality medicines while building trust between providers and patients. This is not merely a business journey, but a journey of service. We will ensure quality medicines at fair prices, initially reaching 20,000 towns and villages.”

Kriam Pharma will focus on categories such as anti-diabetic, cardiac care, gastrointestinal, pain management, dermatology, vitamins and minerals and anti-infectives, covering both immediate and long-term healthcare needs. In a highly fragmented market, the company will deliver reliability, while adhering to the highest ethical standards.

Mayor Daksheshbhai Mavani congratulated SRK on the new venture and expressed hope that with support from the Bill & Melinda Gates Foundation, Kriam Pharma would supply its medicines even to South Africa. He said, “The company would initially focus on Gujarat and Maharashtra, adopting a direct-to-chemist distribution model for efficiency and trust.”

CAHO President Dr. Vijay Agarwal said,Even though remarkable progress has been made in medicine over the last 100 years, trust deficit remains. He stressed the importance of accessible and affordable care and wished success to Kriam Pharma in bridging gaps with quality medicines.”

Kriam Pharma aims to supply medicines across every city, town and village in India by 2030, while creating more than 3,500 direct and indirect jobs. The company is also exploring exports to emerging markets with high demand for dependable and high-quality medicines.

AHPI Director General Dr. Giridhar Gyani said, “30% of the hospital expenditure is on medicines, which highlights the need for affordable, accessible and quality medicines.”

Kriam Pharma is currently sourcing its products from leading Contract Development and Manufacturing Organizations (CDMOs) and plans to set up in-house manufacturing in the second phase.

Reaffirming the company’s mission, Tej Dholakia added, “Our mission is rooted in a simple belief that medicine is not a privilege, it is a basic right. Every product, every partnership and every decision we make reflects our commitment to quality and integrity.”

Shreyans Dholakia, Brand Custodian of SRK Exports said, “With 60 years of excellence in natural diamonds, we are now committed to serving the nation in healthcare. Healthcare is a key focus area of the country.”

Govindbhai Dholakia, Founder- Chairman Emeritus of SRK Group said, “A company may be precious, but it must also be valuable. With Kriam Pharma, let us ensure that we uphold values alongside value, making this venture truly meaningful.”

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