Author: MIL-OSI Publisher

India faces a potential economic setback following the US decision to impose a 25% tariff on Indian goods from 7 August 2025, and an additional 25% penalty tariff on Russian oil-linked imports from 27 August 2025. These measures are expected to hit key export sectors, erode the goods trade surplus, and trim GDP growth in 2025, according to GlobalData, a leading data and analytics company

GlobalData anticipates the repercussions to be particularly severe on sectors such as textiles, gems and jewelry, machinery, iron and steel, and automotive, which could lead to a 30 basis points reduction in GDP, along with an estimated 25% contraction in the goods trade surplus with the US in 2025.

Over the past decade, India's trade surplus with the US has risen significantly, increasing from $19.9 billion in 2015 to $37.7 billion in 2024. This surplus has grown at an average annual rate of 6.3% during the period, with a notable surge of 15.2% in the 2023-24 period, according to GlobalData analysis using ITC Trade Map data.

The top five commodities exported to the US, including electrical machinery, gems and jewelry, pharmaceuticals, nuclear reactors and machinery, and mineral oils, accounted for 51.6% of total exports in 2024. While petroleum products, pharmaceuticals, and smartphones are currently exempt from the existing tariff structure, other sectors are likely to be significantly affected.

According to GlobalData, the tariffs are projected to result in an 11% reduction in US-bound exports in 2025, making Indian goods significantly more expensive. Consequently, a 25% decline in India's trade surplus with the US is anticipated.

Ramnivas Mundada, Director of Economic Research and Companies at GlobalData, comments: “In 2024, the US accounted for approximately 18% of India's total goods exports. Anticipating reduced trade with the US, India is prioritizing the acceleration of free trade agreement negotiations with the European Union, Peru, and Chile to shift around 10% of the trade to Latin American countries and the EU, and enhance the resilience of labor-intensive industries.”

While pharmaceutical, electronics (including iPhones), and petroleum sectors are currently exempt from the new tariffs, the looming threat of a potential increase in tariffs on pharmaceutical products to as high as 250% poses significant concerns for the industry. Major players like Dr. Reddy's Laboratories, Sun Pharma, and Cipla, which rely heavily on exports to the US market, may encounter rising costs and a competitive disadvantage.

The textiles sector, including companies like Welspun India, Raymond, and Trident, is likely to face significant challenges due to the increased tariffs, leading to contract renegotiations and potential cancellations that could lower sales and profitability.

Similarly, the auto ancillary sector, represented by firms such as Bharat Forge and Sona Comstar, may experience disruptions, although the impact is expected to be less severe than in textiles.

In the gems and jewellery sector, companies like Titan and Kalyan Jewellers will be affected, as a large portion of their exports to the US may result in renegotiated contracts and reduced margins, hindering their growth and expansion efforts in the American market.

Mundada concludes: “The sweeping new US tariffs and the failure to establish a trade agreement with India signify a notable downturn in bilateral relations, highlighting underlying geopolitical tensions and trade conflicts. As India addresses its energy requirements and economic goals, both countries need to pursue a practical way forward. Rebuilding trust and encouraging open communication will be key to resolving this stalemate. The trajectory of US-India relations dep

08 AUGUST 2025 – Today, 8 August, the Johan Castberg field was officially opened by the minister of energy, Terje Aasland.

Johan Castberg is Norway's northernmost oil field. The field will produce for at least 30 years. This creates great value and ripple effects and is important for Norway's role as a reliable, long-term energy supplier. The field produces 220,000 barrels of oil per day.

“This is a milestone for the petroleum industry in the Barents Sea. With Castberg on stream, the Barents Sea now has both our second largest producing oil field, our second largest gas field and the largest discovery being considered for development. In addition, the Castberg field is a good example of the positive ripple effects that production offshore has on the mainland. With Castberg, there are three producing fields in the Barents Sea. This provides secure jobs in the local business community and a basis for new assignments over a long period of time,“ Terje Aasland said in his speech to the FPSO crew right after the opening.

The official opening was attended by the crew of the Johan Castberg FPSO, leaders from the Ministry of Energy, including minister Terje Aasland, the mayors of Hammerfest and Harstad, leaders from the Norwegian Offshore Directorate, the Norwegian Ocean Industry Authority, Equinor, Vår Energi, Petoro, Aker Solutions and employee representatives.

Minister of energy, Terje Aasland, and Kjetil Hove, Equinor's executive vice president for Exploration & Production Norway, at the official opening of Johan Castberg.
Photo: Ole Jørgen Bratland / Equinor

“This is a red-letter day. The Barents Sea is becoming increasingly important for Norway's role as a long-term energy exporter, and Johan Castberg will produce safely and efficiently for at least 30 years. We are well underway and have already made new discoveries in the area. Throughout the field's productive life, we will make significant investments that will create jobs and opportunities for the supply industry,” says Kjetil Hove, Equinor's executive vice president for Exploration & Production Norway.

Less than three months after coming on stream the Johan Castberg field was producing at peak capacity of 220,000 barrels of per day. Every three or four days, cargoes depart from Johan Castberg. Each cargo may be worth around NOK half a billion, depending on the oil price. Norwegian suppliers account for 95 percent of the deliveries to the field in the operational phase.

With a supply base and helicopter base in Hammerfest the field is operated from Equinor's Harstad office. A total of 30 wells will be drilled on the Johan Castberg field, and drilling operations are expected to continue through 2026, driving a high level of activity in Hammerfest.

Facts about Johan Castberg

• Licensees: Equinor Energy AS (operator) 46.3%, Vår Energi ASA 30%, Petoro AS 23.7%.
• The Johan Castberg field consists of the Skrugard, Havis and Drivis discoveries, which were discovered in the period 2011 to 2014.
• Location: Johan Castberg is located approx. 100 kilometres north of the Snøhvit field in the Barents Sea in blocks 7219/9 and 7220/4,5,7, about 150 km from Goliat and almost 240 km from Melkøya. The water depth in the area is 360-390 metres, and the distance from Skrugard to Havis is 7 kilometres.
• Johan Castberg is the second oil field in the Barents Sea and Norway's northernmost field.
• The field development concept consists of a production vessel (FPSO) tied back to an extensive subsea field with a total of 30 wells divided on 10 subsea templates and two satellite structures.

Business activity at Swiss firms is currently slightly stronger than it was at the beginning of the year and in July 2024. This is shown by the KOF Business Situation Indicator, which rose for the third month in a row. However, the outlook for the next six months is somewhat gloomier – mainly owing to subdued expectations in the manufacturing and wholesale sectors. This is revealed by the results of the KOF Business Tendency Surveys of nearly 7,000 firms across the private sector.

A mixed picture emerges when broken down by sector. The business situation is improving in other services, the wholesale trade and hospitality and is brightening slightly in financial and insurance services. By contrast, it is cooling in manufacturing and construction and is deteriorating to a more pronounced extent in the retail trade and project engineering.

The business outlook for the next six months is brightening in almost all sectors of the economy – in construction, financial and insurance services, hospitality, other services, retail and project engineering. However, two sectors – manufacturing and wholesale – are bucking the trend and causing the Business Expectations Indicator to fall.

Uncertainty about the future business outlook for the manufacturing sector has declined somewhat – particularly among companies with strong exposure to the US market – but remains relatively high. Firms have recently received fewer orders than before and production has been scaled back. Export-focused companies with strong ties to the US market have not yet fully recovered from the tariff shock in April. However, their production plans are no longer quite as cautious as they were at the time. Financial restrictions are hampering this sector more than labour shortages for the first time since the COVID-19 pandemic.

All in all, the Business Situation Indicators and Business Expectations Indicators across all sectors show neither a broad-based recovery nor a slowdown.

Price inflation remains low

On balance, firms' price plans have remained relatively stable since the beginning of the year, fluctuating around a slightly positive level. Companies expect inflation in general consumer prices to be significantly lower over the next twelve months than it has been to date. Whereas in April they were anticipating an inflation rate of 1.4 per cent for the next twelve months, they now expect it to be 1.1 per cent. Over the longer term (five years), however, they expect the inflation rate to pick up again (1.8 per cent).

The results of the KOF Business Tendency Surveys for July 2025 are based on responses from around 4,400 firms from the manufacturing, construction and major service sectors. This equates to a response rate of around 53 per cent.

The survey was completed before the US government announced tariffs of 39 per cent on 1 August.

BRISBANE/MELBOURNE – August 7, 2025 – Melbourne-based Nexobot has been named winner of Australia's inaugural Propel-AIR accelerator, earning founder Dominic Lindsay an exclusive international residency at MassRobotics, the world's largest independent robotics hub in Boston.

Seascape Autonomy, developing next-generation underwater robots that capture detailed ocean floor imagery, finished as runner-up in the competition that showcased Australia's emerging AI and robotics ecosystem.

SAN FRANCISCO – Andersen Consulting reinforces its strategy and technology transformation capabilities with the addition of collaborating firm 460degrees, further strengthening the organization's ability to help clients drive innovation, transformation, and business performance in increasingly complex markets.

Founded in 2004, 460degrees provides specialized services in project delivery, strategic data management, transformation advisory, cybersecurity, and digital trust. The firm delivers consulting solutions to clients across a range of industries, including government, retail, and finance—helping them navigate complexity and accelerate outcomes. With a strong emphasis on execution and delivery, 460degrees works client-side to guide organizations through the entire procurement journey, ensuring they have access to the right expertise and key people for every stage of their digital transformation.

“Collaborating with Andersen Consulting enables us to scale our impact both regionally and globally, while allowing us to offer clients enhanced access to integrated, multidisciplinary services,” said Werner Spies, founding partner of 460degrees. “Together, we're combining deep technical capability with global scale to help clients tackle their most pressing challenges and lead with confidence in a rapidly changing business environment.”

“The addition of 460degrees underscores Andersen Consulting's commitment to collaborating with forward-thinking organizations that share our values and vision,” said Mark L. Vorsatz, global chairman and CEO of Andersen. “This collaboration expands our global footprint and enhances our ability to support clients navigating digital disruption, complex risk environments, and transformative change.”

Andersen Consulting is a global consulting practice providing a comprehensive suite of services spanning corporate strategy, business, technology, and AI transformation, as well as human capital solutions. Andersen Consulting integrates with the multidimensional service model of Andersen Global, delivering world-class consulting, tax, legal, valuation, global mobility, and advisory expertise on a global platform with more than 20,000 professionals worldwide and a presence in over 500 locations through its member firms and collaborating firms. Andersen Consulting Holdings LP is a limited partnership and provides consulting solutions through its member firms and collaborating firms around the world.

A new CEO has been appointed to head up leading migrant and refugee settlement agency AMES Australia.

Melinda Collinson has been appointed as CEO by the AMES board and will start on August 18, replacing AMES’ retiring incumbent chief executive Cath Scarth.

Ms Collinson brings considerable senior leadership experience within government and the broader public sector to the role.

Most recently, she served as Deputy Secretary at the Department of Transport and Planning and has held a series of executive roles across public agencies.

Ms Collinson has demonstrated experience in leading complex organisations, deliver strategic reform, and operate effectively in stakeholder-rich environments.

AMES Australia Dr Chair Vanda Fortunato welcomed Ms Collinson’s appointment.

“Melinda possesses the experience, leadership qualities, and values necessary to guide AMES Australia in delivering on its strategic priorities and continuing its vital work with migrant and refugee communities,” Dr Fortunato said.

“She will bring the skills and experience to lead AMES into the future, maintaining our vision and mission while seizing the opportunities ahead of us,” she said.

Ms Collinson said she was honoured and excited to be joining the AMES team.

“I am honoured to be joining AMES Australia as its next Chief Executive Officer and advancing our commitment to full participation for all. I acknowledge the significant legacy of Cath Scarth and her contribution to delivering AMES Australia's mission. I look forward to meeting our dedicated team and engaging with our valued Board, stakeholders and clients as we continue fostering an inclusive and diverse society,” she said.

AMES Australia is a leading provider of humanitarian settlement, education, training and employment services to refugees, asylum seekers and newly arrived migrants settling in Australia.

A statutory authority of the Victorian Government, the organisation manages a range of federal and state government contracts including the Humanitarian Settlement Program (HSP), the Skills for Education and Employment Program (SEE), the Adult Migrant English Program (AMEP) and Workforce Australia.

Each year AMES Australia directly assists more than 40,000 migrants and refugees to find their places in Australian society and touches the lives of more than 150,000 people. The organisation’s programs are aimed at fostering a sense of belonging among its clients, recognising that social participation is a key ingredient in maintaining social cohesion.

AMES Australia uses a unique strengths-based approach to successful settlement, which recognises and harnesses the resilience of refugees and migrants and builds on their strengths.

Under its vision of ‘full participation for all in a cohesive and diverse society’, the organisation supports migrants and refugees to achieve their social and economic goa ls.

AMES Australia also works to create community links between its clients, diverse communities and the broader Australian society.

Turning global challenges into local solutions at AFAC25 – Australasia’s leading emergency management event, AFAC25 Conference & Exhibition powered by INTERSCHUTZ, returns to Perth for the first time in seven years – bringing together the full spectrum of fire, emergency service, health, research, and technology professionals.

When: 26 – 29 August 2025
Where: Perth Convention and Exhibition Centre

This year’s theme, ‘From local to global: leveraging systems, capability and connection’, will lead the conversations, which will explore how local and international learnings can shape stronger, more responsive systems to prevent, manage, and recover from emergencies.

AFAC25 Conference to deliver expert-led insights to improve emergency management

Held ahead of Australia’s fire season, the conference program provides a vital platform for delegates to hear from experts on the latest case studies, inquiries and best practice research. Highlight keynote sessions include:

·       Mark Hardingham CBE QFSM, former Chair National Fire Chiefs Council –
Grenfell Tower Fire: Avoiding Disaster – Learning from the Public Inquiry

·       Mami Mizutori, former Special Representative of the United Nations Secretary-General for Disaster Risk Reduction, and Head of UN Office for Disaster Risk Reduction –

We can do a better job to stay safe and alive

·       Leigh Sales, AM, Author and Journalist –

Any Ordinary Day: Blindsides, Resilience, and What Happens After the Worst Day of Your Life

Rob Webb, CEO of AFAC, the Australian and New Zealand Council for fire and emergency services, said: “We are witnessing increasingly complex disasters across the globe. Through shared challenges come shared opportunities and like never before, global networks can become local networks. It's vital that that we actively seek to connect, share knowledge, and collectively accelerate along the path towards reducing disaster risk.  

“We are in a period of rapid technological change, climate change, and our societies are changing the way they live. The emergency management sector across the globe are working as one to meet these challenges for the benefits of lives and livelihoods everywhere.”

AFAC25 will incorporate the Australian Disaster Resilience Conference, the Institution of Fire Engineers (Australia) National Conference and Exhibition and the Women and Firefighting Australasia Conference.

AFAC President and Western Australia’s Fire and Emergency Services Commissioner Darren Klemm AFSMsaid: “Emergency management agencies need to be constantly learning so we can continue to evolve and better protect our communities.

“There are always new challenges for emergency services and by sharing ideas and technology at AFAC25 our agencies can look at ways to be better prepared for what we encounter now and into the future.

“I look forward to connecting with colleagues from across the globe to hear and see how our sector can enhance the way we keep communities safe.

“It’s a privilege to host this event in WA and we look forward to showcasing our emergency services and our State during the conference.”

AFAC25 Exhibition will feature innovations pushing boundaries

The Exhibition floor, spanning 16,000sqms, will showcase the latest in robots, trucks, AI automation systems,safety and medical equipment, and drones – a must-attend for all working in emergency management.

New this year, the Resources Rescue Theatre will deliver a range of sessions focused on mining rescue – a growing field and key topic of interest for host state, Western Australia.

The collaborative sectors in the Exhibition include:

• Workforce – WHS, people, systems and learning development
• Fire Safety – Building fire safety systems and building standards
• Capability – Equipment, PPE and fleet
• Community Risk Reduction – Mitigation strategies, warning systems, and risk management
• Response Operations – Real-time operational decision systems, incident management, communication technologies.

Returning features include the Solutions Theatre, AIDR Knowledge Centre and Demonstration Zone andNRMA’s Resilience Lane, providing grassroots and community organisations a platform to exhibit and showcase their important work in front of the industry. Find out more here: https://www.afacconference.com.au/the-exhibition.

To register and for more information, visit: https://www.afacconference.com.au/