IT Stocks Fall: The selloff in Nifty IT stocks showed no signs of easing on Tuesday, February 24, as the index fell for the fifth consecutive session amid growing concerns over AI-driven disruption. The Nifty IT index plunged 3.5 percent to hit a fresh 52-week low of 30,417.75
Indian Youth Congress chief Uday Bhanu Chib has been arrested. This follows a shirtless protest at the AI Impact Summit. The Congress party has strongly criticized Prime Minister Narendra Modi. They accuse him of being scared of dissent and questions. Security has been increased in Delhi
US Defence Secretary Pete Hegseth has reportedly summoned AI firm Anthropic CEO Dario Amodei to the Pentagon for "a high‑stakes", "tense" meeting over the military's use of the company's Claude AI model, according to reports, as Elon Musk slammed the AI company over allegedly stealing training
The most memorable tables aren’t crowded with dishes, but they’re curated. A few plates, thoughtfully composed, each bringing its own texture, temperature and tempo. This three-part menu by Chef Sabyasachi Gorai captures exactly that philosophy: crisp to start, hearty at the centre
A food bank queue photo sparked racist online attacks against Indians in Ireland, exposing rising xenophobia amid the country’s deepening cost-of-living crisis. Ireland: A seemingly ordinary photograph of people lined up outside a food bank in Ireland has sparked a surge of racist comments
The Maharashtra State Road Transport Corporation (MSRTC) has invited bids to buy diesel for its buses not only from suppliers within Maharashtra but also from companies outside the state. The move could significantly reduce MSRTC’s fuel bill, but it may also impact the state’s tax revenue
HYDERABAD: The ruling Congress, which has till now believed that it would easily bag the two Rajya Sabha seats from Telangana in the impending elections, was jolted out of its complacence on Sunday when reports emerged that BRS supremo and former chief minister K Chandrasekhar Rao has decided to
The war in Ukraine, now in its fourth year, has caused immense destruction and loss of life. Cities lie in ruins, and millions have been displaced. Ukraine's economy is devastated, while Russia faces economic strain. Both nations grapple with societal changes and political challenges
Americans paying for AI in India? What Trump's adviser Peter Navarro says
Americans paying for AI in India? Trump's adviser Peter Navarro claims foreign buyers fueling US inflation
White House trade advisor and US President Donald Trump's aide, Peter Navarro, claimed that the people of the United States are allegedly paying for the artificial intelligence (AI) services that companies provide in India, according to a telephonic interview with the former White House chief strategist Steve Bannon.
Peter Navarro questioned why the Americans should pay for the AI services which are being built and powered in the country to service clients in India, China, and other countries. The trade advisor also highlighted a risk of an inflation uptick driven by the foreign entities operating in the United States.
“Why are Americans paying for AI in India? ChatGPT operating on US soil, using American electricity, servicing large users of the company, for example, in India and China, and elsewhere around the world. That's another issue which needs to be dealt with, and don't forget there are water issues and farmland issues,” said Peter Navarro during his interaction with Steve Bannon at “Real America Voice” show.
Inflation risk
Peter Navarro also said that the foreign entities buying ownership of land in America pose a risk to heighten inflation in the US economy, as these buyers are allegedly paying 10 times more for farmland, a move which can fuel the domestic food prices in the country.“They (foreign entities) are coming in and paying 10x on farmland, and if we are gonna fight food inflation, then we gotta wrap our heads around that,” said Peter Navarro.
According to the US Bureau of Labor Statistics data released earlier this month, the US consumer price index (CPI) inflation data was at 2.7% as of the 12-month period ending December 2025. The data for November 2025 also showed that the inflation was at 2.7%.
Mint reported earlier that the US inflation was at 3% as of the 12-month period ending September 2025.
Peter Navarro's tirade against India comes amid the raging 50% tariffs on all Indian imports to the United States and the delays over the potential bilateral trade agreement (BTA) deal between the two nations.
On India tariffs
On 8 September 2025, Peter Navarro called out India as the country which is “Maharajah of tariffs,” and how the country should come around at a point in the trade negotiations with the United States amid Trump's raging tariff war.Donald Trump's aide described India as the ‘Maharajah' of tariffs and said, “It's absolutely true. They have the highest tariffs in any major country in the world against the United States. We got to deal with that.”
“I think India must come around at some point. And if it doesn't, it's laying down with Russia and China, and that won't end well for India,” said Navarro in an interview with the ‘Real America's Voice' show.
Source: LiveMint
Related Posts: India and US defer trade talks after Supreme Court's tariff ruling What now for Asia after Trump's tariffs struck down Stock markets trade higher in early session tracking rally in Asian peers Rupee strengthens against US dollar amid Trump tariff tantrums Trump says US Supreme Court ruling expanded his tariff powers FedEx sues for Trump tariff refund US Senate Democrats introduce bill to force refunds of Trump tariffs deemed illegal U.K. police arrest ex-envoy Peter Mandelson in Epstein case Trump Organization unveils plan for Trump's new global tariff comes into effect at 10%
As the AI Impact Summit drew to a close on Friday, it was clear that the government sought, if at least for a week, to make India the centre for all things AI in the world. The crowds showed up, with half-a-million attendees thronging the expo and crowding out all the session rooms
1 hours ago
U.S. airlines are set to add flights on Tuesday (February 24, 2026O), even as they wrestle with thousands of scrubbed flights the day after a powerful Northeast winter storm forced more than 8,000 cancellations and delays. The storm blanketed parts of the U.S. Northeast
1 hours ago
Rajpal Yadav cheque bounce cases: The Delhi High Court had recently granted an interim suspension of Yadav's sentence until March 18 in the cheque bounce case. Mumbai: Actor Rajpal Yadav has commenced shooting for 'Welcome to the Jungle', marking his return to work
1 hours ago
The Central Drugs Standard Control Organisation has inspected about 90% of the manufacturers of cough syrup in the country and found compliance lapses, Reuters quoted Drugs Controller General of India Rajeev Raghuvanshi as saying on Monday. Speaking at the Global Pharmaceutical Quality Summit in
1 hours ago
Rahul Gandhi has strongly condemned the arrest of Uday Bhanu Chib, president of the Indian Youth Congress. Gandhi stated the police action shows dictatorial tendencies and cowardice. He affirmed that peaceful protest is a democratic legacy. Gandhi declared his support for the arrested comrades
1 hours ago
Main broad-cap indices performed in line with the benchmark indices, as the Nifty Midcap 100 dipped 0.55 per cent, and the Nifty Smallcap 100 declined 0.67 per cent. Mumbai: The Indian equity markets erased gains from the previous session early on Tuesday
1 hours ago
The Indian trade delegation’s last-minute postponement of its trip to Washington to finalise an Interim Agreement with the U.S., and the U.S. Supreme Court’s decision on tariffs both have implications for India’s imports from Russia as well as the U.S
1 hours ago
The Kerala Legislative Assembly has already passed a resolution seeking a change in the state’s official name in government records. The Union Cabinet is set to consider a long awaited proposal to officially rename Kerala as Keralam, bringing the state’s constitutional name in line with its
1 hours ago
A 21-year-old man allegedly shot his father dead in a fit of rage and, to conceal the murder, chopped off the body parts and threw them while hiding the remaining torso in a drum, police said on Monday (February 23, 2026). The deceased has been identified as Manvendra Singh (50)
1 hours ago
National-level shooter Tara Shahdeo has spoken out about the movie which reflected on her decade-long legal battle and said the film's subject resonates with her lived experience. New Delhi: National-level shooter Tara Shahdeo has spoken out about her 2014 marriage and forced religious conversion
1 hours ago
Cricket fans can anticipate a full T20 World Cup Super 8 encounter between Pakistan and England in Kandy, as the weather forecast promises clear skies and minimal rain. Temperatures will be cool, around 19°C, with only a slight chance of precipitation. This ideal climate ensures no interruptions
1 hours ago
Milk has long held a sacred place in Indian households, poured into morning chai, set into curd, churned into ghee, and woven deeply into everyday life. But today, India’s dairy industry is undergoing a quiet yet profound transformation. While its foundation remains rooted in millions of small
1 hours ago
The film has triggered excitement ever since Kamal Haasan announced that his production house, Raaj Kamal Films International (RKFI), would be producing the film. Chennai: Cibi Chakravarthy, the director of Superstar Rajinikanth's eagerly awaited upcoming film which is being tentatively referred to
1 hours ago
US President Donald Trump's new global tariffs have come into effect at 10% after the Supreme Court blocked many of his sweeping import taxes on Friday. Just hours after last week's ruling, the president signed an executive order to impose the new levy from 24 February
1 hours ago
Moeen Ali warns players could act if Pakistan cricketers are excluded from The Hundred draft. ECB faces scrutiny. Former England all-rounder Moeen Ali has warned that players could speak up and take action if Pakistani cricketers are overlooked during the upcoming draft of The Hundred
1 hours ago
Fact check reveals Shikhar Dhawan never made the viral “no girl would marry me” statement. No, Shikhar Dhawan never made the statement. The former India opener has dismissed viral social media posts claiming his ex-wife told him “no girl would marry” him
1 hours ago
The Union Health Ministry has informed the Supreme Court that a low cut-off “does not certify incompetence," referring to the zero cutoff percentile in the NEET PG third round counselling for 2025. Responding to a Public Interest Litigation challenging the reduction of the minimum qualifying
1 hours ago
The Centre is likely to introduce the new Seed Bill in Parliament during the second part of the Budget Session, scheduled from March 9 to April 2, The Indian Express has learnt. The Ministry of Agriculture and Farmers’ Welfare, which is piloting the Bill
1 hours ago
Those EPF subscribers whose accounts become inoperative after failing to submit regular payments and having balance of up to one thousand rupees will get their money back. This relief comes as the Ministry of Labour and Employment has decided to refund money to the subscribers
1 hours ago
Four persons have died of acute renal failure after consuming allegedly adulterated milk in Andhra Pradesh’s Rajamahendravaram city, The Hindu reported on Monday. The deaths, including three senior citizens, took place between Saturday and Monday
1 hours ago
Zimbabwe's coach Justin Sammons anticipates a fierce Indian attack in their T20 World Cup Super Eight clash. He believes his team is prepared after a significant defeat to the West Indies. Sammons highlighted the need for his bowlers to be less predictable and more adaptable under pressure
1 hours ago
A 20 year old DMK's son was arrested after ramming his car into a Krishnagiri resident over a heated dialogue. Tamil Nadu: A 20 year old son of a DMK functionary in Tamil Nadu has been taken into custody for allegedly driving his car into four members of a family following a confrontation
1 hours ago
Authorities in Chiang Mai, a city in northern Thailand, are investigating the deaths of dozens of tigers at a popular tourist attraction this month. Seventy-two tigers died in the span of less than two weeks across two facilities of Tiger Kingdom Chiang Mai
1 hours ago
For most pet parents, feeding is a routine task, a scoop of kibble, a filled bowl, and back to the day’s to-do list. But experts say mealtime holds far greater meaning. It is one of the most powerful daily rituals that shapes not only a pet’s physical health but also their emotional connection
1 hours ago
The Google Pixel 11 series is going to be the next big thing by Google after the Pixel 10 series. Keeping in mind that Google I/O is scheduled for May 2026, we can expect to receive a teaser or some information about the series in that timeframe as well. Even before a few months of launch
1 hours ago
MCX gold April futures dipped 0.58 per cent to Rs 1,60,664 per 10 grams around 10.50 am on an intraday basis. Meanwhile MCX silver March futures declined 0.33 per cent to Rs 2,64,450 per kg. Mumbai: Gold and silver prices retreated on Tuesday
1 hours ago
Anil Kapoor is gearing up for the release of his upcoming film Subedaar which is set to premiere on Prime Video on March 5. The team organised a trailer launch event in Mumbai last evening and the actor also shared it on his social media handle
1 hours ago
