Seoul, May 21 (IANS) South Korea’s exports to the United States and China are expected to decline further in May, as the impact of the Donald Trump administration’s sweeping tariff scheme has begun to materialise, the country’s top trade official said on Wednesday.Trade Minister Cheong In-kyo made the assessment after government data showed that exports declined 2.4 percent in the first 20 days of May compared to a year earlier, due to a drop in shipments to the U.S. amid ongoing tariff measures.During the first four months of 2025, cumulative exports totaled $217.9 billion, representing a 0.7 percent decrease compared to the same period last year, according to data from the Ministry of Trade, Industry and Energy, reports Yonhap news agency.Shipments to the U.S. and China went down 3.3 percent and 4.1 percent, respectively, while exports to ASEAN and the European Union rose 5.9 percent and 2.1 percent, respectively.”In May, the impact of the U.S. tariff measures is expected to be fully reflected, leading to a decline in exports to the U.S. and China,” Cheong said during a meeting with officials overseeing export-related issues.”We will maintain an emergency response system in cooperation with relevant agencies and continue to provide tailored support to address export challenges in each region,” he added.The government has pledged to swiftly execute the funds allocated through the supplementary budget, including 84.7 billion won for the exporter voucher program and 150 billion won for small and mid-sized exporters through trade insurance.”Technical consultations with the U.S. on the tariff policy are under way, and we will actively engage in discussions to find mutually beneficial solutions, while prioritizing our national interest,” Cheong said.South Korea and the United States began a second round of working-level discussions in Washington on Tuesday (U.S. time), as Seoul has sought a complete exemption from the tariff scheme.Last month, the US began imposing reciprocal tariffs on partner nations, including 25 percent duties on South Korea, only to pause them shortly afterward to allow for one-on-one negotiations.Seoul and Washington subsequently agreed to work toward a “package” deal on trade and other related issues before July 8, when Trump’s 90-day pause on reciprocal tariffs is to expire.–IANSna/

New Delhi, May 21 (IANS) Mission Karmayogi, the National Programme for Civil Services Capacity Building, has achieved a major milestone with the iGOT Karmayogi portal crossing one crore registered civil servants across India, said Dr. Jitendra Singh, Union Minister of State (Independent Charge) of the Ministry of Science and Technology on Wednesday.The Integrated Government Online Training (iGOT) Karmayogi platform is a digital learning platform operated and managed by Karmayogi Bharathas, aimed at providing a comprehensive learning ecosystem accessible to civil servants across India.Launched in 2022, the iGOT platform marked a 30-fold growth from 3 lakh users onboarded till January 2023, in over 2 years.“This rapid scale-up underlines the growing digital adoption in public administration and reaffirms the Centre’s commitment to building a future-ready and citizen-centric civil service,” Singh said.The MoS attributed the success of the portal to active participation of both central and state/UT civil servants.Bihar, Andhra Pradesh, Madhya Pradesh, Rajasthan and Uttar Pradesh are the states with relatively higher number of registered civil servants on the platform.Over 60 per cent of the registered users on iGOT Karmayogi platform are from all 36 States/UTs. The remaining are from central government ministries, departments and organisations.“This demonstrates pan-India outreach of the platform and growing integration with state-level governance frameworks,” Singh said.“So far, more than 3.1 crore learning certificates have been issued to civil servants based on course completion which aggregates to more than 3.8 crore learning hours,” Singh said.Currently, iGOT Karmayogi platform offers over 2,400 courses in 16 languages contributed by more than 200 course providers including Central and State Government Ministries and Departments, Civil Services Training Institutes (CSTIs), Civil Society Organisations, philanthropic bodies, premier Indian academic institutions, and private industry experts.All courses are aligned with the indigenously developed Karmayogi Competency Model (KCM) — rooted in Indic wisdom and the tenets of Mission Karmayogi.Singh said that Karmayogi platform aims “to increase the number of courses in regional languages, improve course quality, partner with more content providers, and improve the user experience using AI and other technologies” in the near future.–IANSrvt/

New Delhi, May 21 (IANS) EV penetration in India has improved with new model launches over the last six months, and new model launches and government incentives will drive hybrid penetration growth in the near term, an HSBC report said on Wednesday.Contrary to popular assumptions, hybrids are not currently competing with EVs, but rather, are complementary to them. For instance, in states with hybrid incentives, EVs have grown more even after incentives were announced, said HSBC Research in its note.“We think India will remain a multi-powertrain industry over the medium to long term,” it stated.Hybrids, CNGs and biofuels are practical medium- to long-term solutions, while the country moves towards eventual electrification.“We think strong hybrid electric vehicles (SHEVs) and battery electric vehicles (BEVs) are not cannibalising each other but, rather, are attracting different sets of customers. In states where incentives are offered for SHEVs, BEV sales have also seen strong growth,” said the report.In FY25, the growth in EV sales was similar to the growth in SHEV sales, despite incentives being offered on SHEVs by Uttar Pradesh, the largest PV selling state in India.This trend suggests that SHEV adoption is having a positive effect on BEV sales, said the report.According to the report, 4-wheeler EV penetration has improved from 1.9 per cent in H1 FY25 to 2.5 per cent in Q4 FY25 and 3.2 per cent in the Q1 FY26 quarter-to-date period, driven by launch on MG Windsor and M&M BEVs.The SHEV share in total PV has increased to 2.4 per cent in FY25 from 2.1 per cent in FY24.“The perception that promoting SHEVs will hinder EV adoption is misplaced, in our view. This is not a zero-sum game, but rather an incremental opportunity where incentivizing SHEVs contributes to the broader development of the clean mobility ecosystem, benefiting BEVs and advancing overall market growth,” the report emphasised.–IANSna/

Bengaluru, May 21 (IANS) A hunt has been launched for the pervert who published objectionable and vulgar photos of women commuters on the Bengaluru Metro online, police said on Wednesday.The accused had created an Instagram page and uploaded photos of young women and girls while they were travelling on the Metro and moving around Metro stations in Bengaluru.The matter has been brought to the attention of the Bengaluru police, and citizens, expressing outrage over the violation of women’s privacy, have demanded action against the accused.People have expressed shock that the social media page had garnered more than 5,000 followers. Many have also appealed to the police to register cases against all those following the page.In a social media appeal, the whistleblower urged the Bengaluru police and the Police Commissioner to take action against the person responsible.”There is a pervert travelling in Bengaluru Metro trains, secretly capturing videos of women and sharing them on Instagram. Please find him and punish him.”The whistleblower also provided the link to the Instagram page.”This is very creepy and dangerous for all women commuters. Please amplify this so that he is punished soon,” the post added.Responding to the complaint, the Deputy Commissioner of Police, South, Bengaluru, stated that an FIR has been registered at Banashankari Police Station and an investigation has been launched.In response to the police action, netizens further demanded the immediate arrest of the accused and called for him to be publicly shamed. People need to know who these perverts are, they said.What is even more disturbing is that the Instagram page had over 5,000 followers. Netizens argued that these followers exhibited an equally disturbing mindset and demanded that police register complaints against them as well, asserting that they, too, are complicit.The accused had uploaded images of women talking on their phones amid Metro crowds and backshots of young women walking within Metro premises.The Instagram page also misused the official Metro logo and used captions such as “Finding beautiful girls on Namma Metro” and “Girls at 2 pm in Namma Metro,” among others.Netizens have also urged Bengaluru South MP Tejasvi Surya to ensure strict action is taken against the accused. –IANSmka/vd

New Delhi, May 21 (IANS) Taiwanese tech giant Foxconn is investing another $1.5 billion to expand its operations in India, as the key supplier for Apple’s iPhones is looking to set up supply chains outside China.

The Taiwanese tech giant said its Singapore-based arm has injected $1.5 billion into the company’s Indian subsidiary with the purchase of 12.7 billion shares.Foxconn’s Indian subsidiary Yuzhan Technology India, makes components for smartphones in Tamil Nadu.The development comes close on the heels of the Indian government granting approval, last week, to Foxconn to build a semiconductor plant near the Noida airport as part of a Rs 3,700 crore joint venture with the HCL Group.The facility will produce display driver chips for mobile phones, laptops, automobiles, PCs, and various other display-equipped devices. It is designed to handle 20,000 wafers every month, with an output capacity of 36 million units per month.”Already, five semiconductor units are in advanced stages of construction. With this sixth unit, Bharat moves forward in its journey to develop the strategically vital semiconductor industry,” according to an official statement.India’s semiconductor landscape is taking shape with rapid momentum. Cutting-edge design infrastructure has been established in several states, with state governments actively encouraging design firms to set up operations.At the academic and startup level, students and innovators across 270 institutions and 70 startups are developing advanced design technologies aimed at creating next-generation semiconductor products. Notably, 20 of these student-designed products have already been taped out at SCL Mohali, the government said.Supporting infrastructure is also expanding alongside. Key global players such as Applied Materials and Lam Research, leading equipment manufacturers, have set up operations in India. Chemical and gas suppliers like Merck, Linde, Air Liquide, and Inox are also preparing to scale up to meet the needs of the growing domestic semiconductor sector.As demand for semiconductors surges – driven by manufacturing growth in areas like mobile phones, laptops, servers, medical equipment, defence systems, and consumer electronics – this upcoming facility is expected to further contribute to Prime Minister Narendra Modi’s vision of Atmanirbhar Bharat.–IANSsps/svn

New Delhi, May 21 (IANS) Nearly seven in 10 young professionals (67 per cent) in India are open to new opportunities but don’t know what job titles or industries to search for, according to new research on Wednesday.The research by LinkedIn, the world’s largest professional network, based on a survey of 2001 employed and unemployed Indian respondents aged 18-78, showed that 65 per cent of professionals in India can explain their career goals to a friend. However, they don’t know how to search for that role, and 64 per cent find job filters confusing.Another 74 per cent said they wish they could discover relevant roles they hadn’t thought to search for.As job titles evolve and skills become central to hiring decisions, there is increasing demand among job seekers for easier ways to find opportunities based on their skills and goals, rather than predefined titles or keywords, the research said.It noted that Indians define professional progress by learning something new; taking the next step with confidence and finding a role that truly fits. While the desire for purposeful growth is clear, finding the right opportunity remains a challenge.To help job seekers find roles that align with what matters most to them, LinkedIn is rolling out a new AI-powered job search experience for Premium Subscribers.The tool uses generative AI to understand a job seeker’s intent, skills, and goals, even if they don’t know the exact title or keyword, so they can discover opportunities in their own words.According to Nirajita Banerjee, Sr. Managing Editor and LinkedIn Career expert to stand out from the crowd, young professionals must be strategic in applications and get comfortable with AI.Banerjee also advised professionals to adapt to new tech but still maintain the human touch; connect with alumni, new colleagues, and friends, and engage with posts on LinkedIn.–IANSrvt/

New Delhi, May 21 (IANS) Global financial services major Morgan Stanley on Wednesday upgraded its GDP growth forecast for India at 6.2 per cent in FY26 and 6.5 per cent for FY27, saying that domestic demand trends will be the key driver of the country’s growth momentum amid lingering uncertainty on the external front.The earlier growth forecast was 6.1 per cent for FY26 and 6.3 per cent for FY27.“We expect growth to remain resilient, supported by strength in domestic demand amidst uncertainty from external factors,” said the global brokerage in its note.“Policy support is likely to continue through easier monetary policy while fiscal policy prioritises capex. Macro stability expected to be in comfort zone with robust buffers,” it added.Within domestic demand, the brokerage expects consumption recovery to become more broad-based with urban demand improving and rural consumption levels already robust.“Within investments, we see public and household capex driving growth while we expect private corporate capex to recover gradually,” it noted.Morgan Stanley expects headline inflation to remain benign thanks to lower food inflation and the range-bound trend in core inflation.The IMD’s forecast of an above-normal monsoon for 2025 is likely to support the cropping season, which, in addition to helping to build healthy buffer stocks, is likely to ensure that food prices remain benign, according to the note.“As such, we expect inflation to remain decisively below the 4 per cent mark over the next few months and average 4 per cent (on-year) in F2026 and 4.1 per cent in F2027,” the note read.It also expects the RBI to respond with a deeper easing cycle, premised on slower growth, while inflation remains under control.“As such, we pencil in a cumulative easing of 100bps, with two more rate cuts of 25bps each in this rate easing cycle,” said the brokerage.Moreover, it expects the RBI to continue easing across its other levers of liquidity and regulations.“On the fiscal policy front, we expect the consolidation path laid down in the Budget to be maintained in our base case with a focus on pushing capex,” the note said.The risks to growth outlook remain evenly balanced, amidst an improving outlook for cross-country trade deals. On the upside, an acceleration in US growth, along with faster resolution of trade and tariff-related uncertainty, could improve investor sentiment and the capex cycle.—IANSna/

New Delhi, May 21 (IANS) Despite weathering effects precipitated by global upheavals, Indian economy stays largely resilient and is projected to clock a GDP growth around 6.4-6.5 per cent in Q4 FY25, an SBI report said on Wednesday.To estimate GDP statistically, the State Bank of India’s Economic Research Department has built a ‘Nowcasting Model’ with 36 high frequency indicators associated with industry activity, service activity, and global economy.The model uses the dynamic factor model to estimate the common or representative or latent factor of all the high frequency indicators from Q4 of FY13 to Q2 of FY23.“As per our ‘Nowcasting Model’, the forecasted GDP growth for Q4 FY25 should come around 6.4-6.5 per cent,” said Dr Soumya Kanti Ghosh, Group Chief Economic Advisor, SBI.Assuming there are no major revisions in Q1 to Q3 estimates in the upcoming data release by NSO, “we expect FY25 GDP to stand at 6.3 per cent,” Ghosh mentioned.The India Meteorological Department (IMD) has said the southwest monsoon is likely to arrive in Kerala within the next four to five days — well ahead of its normal onset date of June 1.If the monsoon arrives in Kerala as anticipated, it would mark the earliest onset over mainland India since 2009, when it began on May 23.“India is targeting 354.64 million tonnes of foodgrain production in the 2025-26 crop year starting July on the forecast of better monsoon rains. In the current 2024-25 crop year, the government had set a target of 341.55 million tonnes of foodgrain production (so far: 332.3 million tonnes),” the SBI report mentioned.Further, taking a cue from household survey, slowdown in current household inflation expectations encourages higher discretionary spending and drives demand-led growth while status quo in consumer confidence suggests that households are uncertain about the global developments and economic prospects – caution somewhat writ large on sustainable growth from a short-term perspective.The swift escalation of trade tensions and extremely high levels of policy uncertainty are expected to have a significant impact on global economic activity. AS per IMF, global growth is projected to drop to 2.8 per cent in 2025 and 3 per cent in 2026.“For India, the growth outlook is relatively more stable at 6.2 per cent in FY25 (6.3 per cent for FY26), supported by private consumption, particularly in rural areas, but this rate is 30 bps lower than the earlier estimate on account of higher levels of trade tensions and global uncertainty,” the report mentioned.—IANSna/

New Delhi, May 21 (IANS) The Gemini app now has over 400 million monthly active users and we are seeing strong growth and engagement particularly with the 2.5 series of AI models, Sundar Pichai, CEO of Google and Alphabet, has said.Over seven million developers are building with Gemini, five times more than this time last year, and Gemini usage on Vertex AI is up 40 times, said Pichai during the ‘Google I/O 2025’ conference in the US.“For those using 2.5 Pro in the Gemini app, usage has gone up 45 per cent,” he informed.This time last year, “we were processing 9.7 trillion tokens a month across our products and APIs. Now, we’re processing over 480 trillion — that’s 50 times more”, Pichai added.He further stated that what all this progress means is that “we’re in a new phase of the AI platform shift, where decades of research are now becoming reality for people, businesses and communities all over the world”.Since launching last year, AI Overviews have scaled to over 1.5 billion users and are now in 200 countries and territories.“In our biggest markets like the U.S. and India, AI Overviews are driving over 10 per cent growth in the types of queries that show them, and this growth increases over time. For those who want an end-to-end AI Search experience, we’re introducing an all-new AI Mode,” informed the Google CEO.It’s a total reimagining of Search. With more advanced reasoning, you can ask AI Mode longer and more complex queries. In fact, early testers have been asking queries that are two to three times the length of traditional searches, and you can go further with follow-up questions. All“I’m excited to share that AI Mode is coming to everyone in the U.S., starting today (Tuesday US time). With our latest Gemini models our AI responses are at the quality and accuracy you’ve come to expect from Search, and are the fastest in the industry. And starting this week, Gemini 2.5, is coming to Search in the U.S., as well,” he added.The company is making 2.5 Pro even better by introducing an enhanced reasoning mode called Deep Think.It uses our latest cutting-edge research in thinking and reasoning, including parallel thinking techniques.—IANSna/

Mumbai, May 21 (IANS) The Indian benchmark indices opened higher on Wednesday amid mixed global cues as buying was seen in the pharma, auto, PSU bank and financial service sectors in the early trade.At around 9.35 am, Sensex was trading 296.53 points or 0.37 per cent up at 81,482.97 while the Nifty added 88.90 point or 0.36 per cent at 24,772.80Nifty Bank was up 98.55 points or 0.18 per cent at 54,975.90. The Nifty Midcap 100 index was trading at 56,028.55 after declining 154.10 points or 0.27 per cent. Nifty Smallcap 100 index was at 17,419.35 after dropping 63.65 points or 0.36 per cent.According to analysts, Indian equity benchmarks declined sharply on Tuesday amid reports of increasing COVID-19 cases in Southeast Asian countries, like Singapore and Hong Kong.”Technically, Nifty closed below its 5-day EMA for the first time since May 8, 2025, suggesting a shift to profit-booking. Support levels lie at 24,494 and 24,378, while resistance is expected in the 24,800-24,900 range,” said Devarsh Vakil, Head of Prime Research at HDFC Securities.In the absence of strong global cues, Indian markets are likely to pick up from where they left off yesterday, he added.Meanwhile, in the Sensex pack, Sun Pharma, HDFC Bank, Tech Mahindra, TCS, Nestle India, Maruti Suzuki, ICICI Bank, UltraTech Cement and Hindustan Unilever were the top gainers. Whereas, Eternal, Kotak Mahindra Bank, IndusInd Bank and NTPC were the top losers.In the Asian markets, China, Hong Kong, Bangkok, Seoul and Jakarta were trading in green. whereas Only Japan was trading in red.In the last trading session, Dow Jones in the US closed at 42,677.24, down 114.83 points, or 0.27 per cent. The S&P 500 ended with a loss of 23.14 points, or 0.39 per cent, at 5,940.46 and the Nasdaq closed at 19,142.71, down 72.75 points, or 0.38 per cent.The spike in uncertainty and risk is impacting the market rather unexpectedly. Yesterday’s FII sell figure of Rs 10,016 crore is a major reversal of their big buying in May and if this persists, it has the potential to impact the market, said experts.”Credit rating downgrade of US sovereign debt and the consequent spike in US bond yields, spike in Japanese Govt Bond yields, rising COVID cases in some parts of India and reports of a possible Israel attack on Iran are doing the rounds, and combination of these all factors may be responsible for this sudden reversal in FII activity,” they mentioned.According to provisional data from the NSE, foreign institutional investors (FIIs) sold Indian equities worth Rs 10,016.10 crore on May 20, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 6,738.39 crore.–IANSskt/na