Daily News - Friday, 16 May 2025
India's unemployment rate at 5.1% in April, joblessness among men higher than women: First-ever monthly jobs data (mint)
India’s unemployment rate stood at 5.1% in April 2025, according to the first-ever monthly Periodic Labour Force Survey (PLFS) released by the Ministry of Statistics & Programme Implementation, with urban unemployment significantly higher at 17.2% compared to 12.3% in rural areas. Joblessness among those aged 15–29 was 13.8%, with women’s unemployment at 14.4% nationwide, surging to 23.7% in cities, while the Labour Force Participation Rate (LFPR) for those aged 15 and above was recorded at 55.6% (58% in rural and 50.7% in urban areas). The Worker Population Ratio (WPR) stood at 52.8% nationally, with rural areas at 55.4% and urban areas at 47.4%, and 7,511 sampling units across 89,434 households were surveyed to produce these findings, covering a total of 3,80,838 individuals.
‘Trump rhetoric won’t harm Apple’s India manufacturing’ (The Hindu)
Apple’s infrastructure in India, including existing and soon-to-be-opened facilities in Sriperumbudur, Chengalpattu, Krishnagiri, and Tumkur, is sufficient to meet the demand for iPhones in both India and the US, despite President Trump’s remarks discouraging Apple from building in India. Apple’s current US manufacturing commitments focus on chips and components not produced in India, while Indian facilities are geared towards iPhone assembly, which is cost-effective compared to US-based manufacturing. Indian government sources confirmed that Apple’s plans in India remain unaffected, with production at the Tumkur and Krishnagiri units expected to begin soon, while further expansions are contingent on clarity around India-US trade negotiations.
Dollar dreams turn costlier on 5% tax on remittances (The Asian Age)
The US House of Republicans has introduced a bill to impose a 5% tax on international money transfers made by non-US citizens, affecting Indian temporary visa and green card holders who sent $33 billion back home in FY24, with India being the largest global recipient of remittances at $118.7 billion in FY24 and projected to rise to $128 billion in FY25. For every $1,000 sent, NRIs would forgo $50 as tax, translating to an estimated $1.79 billion in taxes paid by NRIs annually, although a tax credit may be available. Experts, however, are skeptical about the actual remittance numbers from the US, suggesting that dollar-denominated remittances from other regions might have inflated US remittance figures, potentially leading to a shift towards other convertible currencies post-implementation.
Donald Trump Says India Has Offered A Trade Deal With ‘Literally No Tariffs’ (The Times of India)
US President Donald Trump announced that India has proposed a “zero tariffs” trade agreement to eliminate import duties on American products, aligning with its goal to secure a deal during the 90-day suspension on tariff hikes declared by Trump on April 9. Bilateral trade between India and the US reached $129 billion in 2024, with India enjoying a $45.7 billion surplus, and recent negotiations indicate India’s willingness to reduce its tariff gap with the US from 13% to below 4% in exchange for tariff exemptions. In the first stage of talks, India has suggested removing duties on 60% of tariff lines, mirroring the framework of the US-UK ‘breakthrough deal’ that reduced British duties while maintaining US tariffs.
