INDA

iShares MSCI India ETF

In India, Cupertino’s flagship product, the iPhone, drove the bulk of the sales, with MacBook laptops also witnessing a demand surge.

China first reached out to India in March to improve ties, and both sides have been engaging constructively since June.

The remarks followed Washington’s decision to double tariffs on Indian goods to 50%, deepening tensions after stalled trade talks and New Delhi’s defense of its energy ties with Moscow.

In 2019, Netflix introduced a cheaper plan for mobile-only use, initially in India before expanding to other markets.

Modi’s remarks come as US-India trade tensions escalate following steep tariff hikes, with upcoming talks in China expected to focus on reviving key commodity flows.

Investing.com -- President Trump announced on Wednesday that the United States will impose a 25% tariff plus penalties on India starting August 1, citing the country’s purchases of Russian military equipment and energy.

New Delhi has reportedly conveyed to the U.S. specific items that it will not compromise on, including the prohibition on exports of genetically modified crops and the opening up of the domestic dairy and automobile industries.

Even as overall second-quarter global smartphone sales fell 11% YoY to 13.3 million, moderating from the 25% growth in the first quarter, U.S. shipments edged up 1%.

President Donald Trump imposed a 26% tariff on India as part of his April 2 “Liberation Day” levies, although he referred to it as a “discounted reciprocal tariff.”