India is well-positioned to deal with the negative effects of US tariffs and global trade disruptions as domestic growth drivers and low dependence on exports anchor the economy, Moody’s Ratings said on Wednesday.

In a note on India, the agency said government initiatives to boost private consumption, expand manufacturing capacity and increase infrastructure spending will help offset the weakening outlook for global demand.

Easing inflation offers the potential for interest rate cuts to further support the economy, even as the banking sector’s liquidity facilitates lending.

“India is better positioned than many other emerging markets to deal with US tariffs and global trade disruptions, helped by robust internal growth drivers, a sizable domestic economy and a low dependence on goods trade,” Moody’s said.

Besides, the Pakistan-India tensions, including the flare-up earlier in May, would weigh on Pakistan’s growth more than on India’s.

“In a scenario of sustained escalation in localised tensions, we do not expect major disruptions to India’s economic activity because it has minimal economic relations with Pakistan. Moreover, the parts of India that produce most of its agricultural and industrial output are geographically distant from the conflict zones,” Moody’s said.

However, higher defense spending would potentially weigh on India’s fiscal strength and slow its fiscal consolidation.

The central government’s infrastructure spending supports GDP growth, while personal income tax cuts bolster consumption.

India’s limited reliance on the trade of goods and its robust service sector are mitigants to US tariffs. Nonetheless, sectors such as autos, which have some exports to the US, face global trade challenges despite their diversified operations.

Moody’s had earlier this month lowered its economic growth projections for the 2025 calendar year to 6.3 per cent, from 6.7 per cent, but its growth rate will be the highest among G-20 economies.

In early April, the US administration announced and then paused for 90 days the implementation of sweeping, country-specific tariffs on trading partners.

It maintained a base tariff of 10 per cent, with exemptions for some sectors and higher tariffs imposed previously for other sectors, including steel and aluminium.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

Stock market benchmark indices Sensex and Nifty rebounded sharply in morning trade on Wednesday after heavy drubbing in the previous session amid buying in blue-chip bank stocks and a firm trend in Asian peers.

The 30-share BSE benchmark gauge Sensex bounced back in early trade and later jumped 835.2 points or 1.02 per cent to 82,021.64. The NSE Nifty surged 262.3 points or 1.06 per cent to 24,946.20.

From the Sensex firms, Sun Pharma, Bajaj Finance, UltraTech Cement, Mahindra & Mahindra, Bajaj Finserv, Tech Mahindra, HDFC Bank and Tata Motors were the biggest gainers.

IndusInd Bank emerged as the only laggard.

Moody’s Ratings said on Wednesday, India is well-positioned to deal with the negative effects of US tariffs and global trade disruptions as domestic growth drivers and low dependence on exports anchor the economy.

In a note on India, the agency said government initiatives to boost private consumption, expand manufacturing capacity and increase infrastructure spending will help offset the weakening outlook for global demand.

In Asian markets, South Korea’s Kospi, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng were trading in the positive territory while Japan’s Nikkei 225 index quoted lower.

US markets ended lower on Tuesday.

Global oil benchmark Brent crude jumped 1.62 per cent to USD 66.44 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 10,016.10 crore on Tuesday, according to exchange data.

Retreating from early highs, the 30-share BSE Sensex tanked 872.98 points or 1.06 per cent to settle at 81,186.44 on Tuesday. The Nifty tumbled 261.55 points or 1.05 per cent to 24,683.90.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

New Delhi, Delhi, India – Business Wire India 

In a pioneering move to safeguard consumers and reinforce trust in premium Indian spirits, Piccadily Agro Industries Limited has become the first Indian alco-bev company to implement ForgeStop’s cutting-edge anti-counterfeit smart label technology for its acclaimed Indri Single Malt.

With counterfeiting rampant in India – where it’s said that more Scotch is consumed than Scotland even produces – Piccadily has taken a bold and proactive step. By integrating NFC-enabled smart labels into its packaging, the company is setting a new benchmark in authenticity and transparency, investing significantly to ensure consumers receive only genuine, original products, reinforcing trust in premium Indian spirits.

ForgeStop InfoTap Labels on Piccadily products utilize EM Microelectronic echo-V chips with 128bit AES encryption and dynamically changing tokens – giving them bank level security and making them virtually impossible to fake. They also feature tag-tamper detection – alerting a consumer if the bottle seal has ever been broken – this prevents bottle re-use, a major issue with Alcohol counterfeiting that is difficult to combat with other technologies. Its platform creates a unique digital twin of every product at the moment of production and secures the product until it’s enjoyed by the customer. The software allows for app-free authentication and provides batch level product information – making it the most user-friendly anti-counterfeit technology available. This technology can be connected to the blockchain generating an immutable product journey – securing supply chains.

Unlike static technologies such as QR codes or holograms, this NFC tap and verify experience allows customers to simply tap their smartphones to the bottle to instantly confirm its authenticity and view batch-level information.

“As a brand committed to authenticity and quality, we’re proud to be the first Indian single malt brand to take this bold step,” said Praveen Malviya, CEO (IMFL), Piccadily Agro Industries Limited. “Counterfeit alcohol is a serious issue in India and globally. With ForgeStop’s smart technology, our customers can enjoy Indri with the confidence that what’s in the bottle is exactly what we crafted.”

“We’re proud to partner with Piccadily Distilleries, a globally recognized brand leading the way in product integrity. With ForgeStop’s smart label technology, consumers can instantly verify authenticity and access product information with a simple tap-no app required. It’s a seamless blend of security and brand storytelling,” said Terry Katz, CEO of ForgeStop.

As per the TRACIT (Transnational Alliance to Combat Illicit Trade) September 2023 report on India, a significant share of alcohol sold in India is counterfeit-well above the global average-and the problem is escalating rapidly. Counterfeit alcohol not only harms brands but also poses serious risks to consumer health.

With this first-of-its-kind initiative, Piccadily is elevating the standards of transparency, safety, and innovation in the Indian spirits industry-paving the way for a more secure and connected future for whisky lovers.

*Source- Source (TRACIT Report on India)

Source (OECD Illicit Trade Report)

Stock Ticker: (PICCADIL | 530305 | INE546C01010)

About Piccadilly Agro Industries Limited (PAIL)

Piccadilly Agro Industries Limited (PAIL) is a publicly listed company on the Bombay Stock Exchange (BSE: PICAGRO). The company operates primarily in two strategic business segments: Distillery and Sugar. Its manufacturing facility is located in Indri, Haryana, covers 168 acres and is equipped with advanced technology for producing a diverse range of products, including Malt, Extra Neutral Alcohol (ENA), Ethanol, and White Crystal Sugar.

Piccadilly Agro Industries Limited has established itself as a key player in the alcoholic beverages industry, particularly renowned for its expertise in malt spirits. The company boasts a robust portfolio that includes premium expressions of Indri single malt whisky, blended malt whisky brands and Camikara, premium sugarcane juice aged rum.

In 2022, Piccadilly Agro Industries Limited made a significant mark with the launch of ‘Indri’ its flagship single malt whisky brand, aimed at catering to discerning consumers who appreciate quality and craftsmanship in spirits. By focusing on premiumization strategies and leveraging its technical capabilities, the company has successfully positioned itself as a leader in the Indian single malt whisky market by becoming the ‘fastest growing single malt whisky brand’ in 2024.

Website: www.piccadily.com

About ForgeStop

ForgeStop is a connected product technology company that helps brands deliver engaging, trusted product experiences while protecting against counterfeiting, supply chain fraud, and lost consumer trust. Its smart label platform enables interactive product experiences that protect brands and engage buyers.

Website: www.forgestop.com

Media Contact Details

Nazish Khan, Avian WE, [email protected], +91-9538385162
Abhishek Haryson, Avian WE, [email protected], +91-9891356547