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Apple has no immediate plans to raise retail prices of its products—including the flagship iPhone—in India or elsewhere, despite the imposition of reciprocal tariffs by the Trump administration, top sources told The Times of India.According to a report by TOI's Pankaj Doval, quoting sources, the tech giant had already shipped an “unusually high” number of products from its factories in India and China to the United States to build up inventory. This stockpiling took place even though it was a “relatively lean period,” enabling Apple to stay ahead of the new tariff regime.“Factories in India and China and other key locations had been shipping products to the US in anticipation of the higher tariffs coming into play,” one source said. “The reserves that arrived at lower duty will temporarily insulate the company from the higher prices that it will need to pay for the new shipments that start coming under the revised tax rates.”Apple’s warehouses in the US are now “sufficiently stocked up for the next few months,” with shipments from its major manufacturing hubs moving at a “frenetic pace” to beat the April 5 start of a baseline 10% tariff. Additional reciprocal tariffs—varying by country—come into effect from April 9.The US remains one of Apple’s largest markets for products like iPhones. There are concerns within the company that passing on the entire cost burden to customers could lead to reduced demand and pressure on profit margins.“Any price hike to offset this impact cannot be limited to just the US market, but will have to be taken across key global regions, including India,” the source added. “Such a step can only be taken once the company makes a full assessment of the supply chain and manufacturing locations, the stipulated tariffs for those countries, and how to balance the production from various regions to provide a cushion to shipments into the high-tax US market.”Will Apple make India the apple of its eye?The tariff hikes under President Trump could also result in India gaining a larger share of Apple’s global smartphone production. However, final decisions are likely to follow the conclusion of US negotiations with individual countries on their respective tariff rates.Apple, which accounts for nearly all of India’s roughly $9 billion smartphone exports to the US, may find expansion in India increasingly attractive. The reciprocal tariff on New Delhi currently stands at 26%, compared to a peak duty of 54% on Chinese shipments. The company primarily manufactures iPhones in India and China.

What does a daily 45-minute workout have to do with navigating the volatile world of finance? For Arun Chaudhry, Director & Chief Business Officer at m.Stock, everything.In this candid conversation for Mind Over Money with Kshitij Anand, Chaudhry opens up about the discipline he has cultivated over nearly a decade through consistent fitness—discipline that now defines his leadership, decision-making, and long-term market strategy.Whether it’s enduring a grueling gym session or riding out market cycles, his philosophy is rooted in patience, persistence, and the power of showing up—day after day.He shares how the lessons learned outside the boardroom—in the gym, in the kitchen, through books, and across his travels—have deeply influenced his approach to leading one of India’s fastest-evolving broking platforms.As he puts it, “Success in markets, like fitness, is not about intensity but consistency.”In a world chasing quick wins and instant results, Arun’s story is a refreshing reminder that the real gains—whether physical, financial, or professional—belong to those who stay the course. Edited Excerpts –Q) You’ve maintained a consistent 45-minute daily workout for nearly a decade. How has this discipline influenced your approach to leadership and decision-making in the financial markets?A) My workout routine has instilled discipline, focus, and positive energy, shaping my leadership approach. Just like fitness, success in financial markets demands a long-term vision, consistency, and adaptability to evolving landscapes.Adjusting workout routines for progress mirrors how leaders refine strategies to navigate VUCA challenges.I try and approach decisions with a balanced mindset—staying calm under pressure and making calculated moves.In leadership, the number of decisions may decrease, but their impact grows significantly. This perspective helps me take informed risks and lead with clarity.Q) What parallels do you see between fitness and investing, especially in terms of consistency, patience, and resilience?A) Both fitness and investing demand immense persistence. And when I say persistence, I mean a deep, unwavering commitment.In fitness, progress is gradual, and similarly, wealth-building through investing is a marathon, not a sprint. The ability to stick to a routine, whether in the gym or the market, stay patient during periods of stagnation, and bounce back from setbacks is critical for long-term success. Consistency is the real driver of progress.All this might sound simple, but it’s far from easy. I see many people who want to make a quick profit in the market end up losing the most money, just as those who expect to see dramatic physical changes overnight are the first to leave the gym.Patience and persistence are essential. If you go wrong here, it can all be lost forever.Q) As Director & Chief Business Officer at m.Stock, what key trends are shaping India’s brokerage landscape today?A) In the past, we often heard about once-in-a-lifetime event, but those days are behind us. The world has changed dramatically, and it changes quickly now. Reactions, both good and bad, are quick to be seen.India’s brokerage landscape is also evolving very rapidly, driven by technology and the democratization of trading.Low-costs, increasing retail participation, and innovations like mobile trading apps are reshaping the market. Investors now have more access to information and tools than ever before, making trading more accessible and less of a gamble than it was in the past.While the industry is changing, so are the customers. Their patience is diminishing. With almost 70% of all demat and trading accounts opened in the last couple of years, there is a growing sense of urgency to make money.Q) How do you balance growth and innovation while maintaining stability in a dynamic market?A) Balancing growth and stability requires a strategic approach and a keen focus on execution.As an organization, we focus on scalable innovations that align with our long-term goals while ensuring the stability of our core operations. We don’t chase short-term, customer-pleasing outcomes that won’t stand the test of time.Instead, we focus on building a business designed for long-term benefits to our clients. Embracing technology for efficiency and adapting to market changes is essential, but we always ensure that risk management practices remain intact.Stability comes from a well-structured foundation, while innovation provides the agility to evolve—always with a focus on well-thought-out, sustainable solutions.Q) What leadership lessons have you learned from your personal experiences outside of finance that you apply to your professional life?A) From my exercise routine, I've learned the value of persistence and the importance of focusing on long-term goals. Progress in fitness, like in leadership, doesn’t happen overnight—it’s the result of consistent, steady effort.I've come to understand that problems aren’t solved in a single day; success is built through small, incremental victories over time. This approach has shaped my mindset in leadership, teaching me to keep pushing forward, even when immediate results aren’t visible, even when the approach is right.Fitness has also taught me that while nothing in life is constant, consistency is key. Just as I have to adapt my workout routine to avoid plateaus and keep improving, leadership requires the ability to adjust to changing circumstances while staying focused on core principles.It is important to challenge the status quo most of the time, in other words, be ready to get uncomfortable if you want to achieve more than the average.Additionally, my trainer has reinforced a key lesson: that no one achieves success alone. People are just as important as self. In fitness, a good trainer provides guidance, accountability, and support, which are essential to achieving goals.Similarly, in leadership, building strong, collaborative teams and leveraging the strengths of those around you is crucial. Nothing meaningful can be achieved without the right people, and their support, just like my trainer’s, makes all the difference.Q) You have a passion for cooking, reading, and traveling. How do these interests influence your problem-solving and strategic thinking in business?A) These interests have significantly shaped the way I approach problem-solving. Reading allows me to explore a range of perspectives, giving me the ability to look at problems from different angles.By diving into diverse topics, I can often find innovative solutions or come up with broader approaches to challenges that might not have been considered otherwise.Traveling, too, exposes me to different cultures and ways of thinking, enhancing my adaptability and allowing me to draw inspiration from a wide variety of sources.This combination of creativity, diverse viewpoints, and adaptability has allowed me to approach business problems with a more holistic mindset, leading to more effective and comprehensive solutions.Q) Is there a particular book or travel experience that has had a significant impact on your leadership style?A) One book that has had a profound impact on my leadership style is "Execution" by Ram Charan. It highlights the critical importance of execution and how even the best strategies can fall short without flawless implementation.It emphasizes that while strategy is essential, the ability to execute and deliver results is what truly drives success.Moreover, over the years, I’ve learned that reading a book once provides valuable perspectives, but revisiting it can reveal even deeper layers of understanding and insights. This practice of going back to books you’ve already read is essential—it allows you to continuously refine and evolve your approach to leadership.(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)

The new fiscal year has commenced on a subdued note, largely driven by US President Donald Trump altering global trade structures. India bore some of the pain with higher-than-anticipated tariffs.The broader market showed a mixed trend with 23 smallcap stocks falling in double-digits. But at the same time 54 of them saw double-digit gains. On the losers side, Pokarna, Garware Hi-Tech Films and Avanti Feeds fell up 34% during the week. On the other hand, NACL Industries, Valiant Organics, Hester Biosciences rose up to 42%.In the midcap segment, nine stocks including Punjab and Sind Bank, Coforge, UCO Bank among others have risen in double digits. While Punjab Bank fell 35%, Coforge and UCO Bank declined 18% and 16% each, respectively.During the week, sectors like IT and metals have underperformed relative to the broader market, reflecting growing concerns over the outlook for the US economy and potential retaliatory trade actions by other countries.Among the Sensex pack, HCL Technologies, Tata Steel, Tata Motors Tata Consultancy Services were the biggest losers, falling up to 10%.Going forward, investors are expected to closely monitor any countermeasures implemented by global trade partners, which could further exacerbate geopolitical and economic uncertainty.This cautious sentiment is reflected in the sustained rally in gold and bond prices, underscoring a pronounced shift toward safe-haven assets.The tariffs imposed on India are relatively lower compared to those on other Asian economies, offering a degree of relief. Any constructive developments arising from the ongoing India–US bilateral trade negotiations could serve as a supportive catalyst for the market.Investor attention is also firmly fixed on the upcoming MPC meeting, with the benchmark interest rate decision expected next week.Analysts say a favourable outcome could benefit rate-sensitive sectors. In addition, key macro indicators like India’s inflation figures and US jobless claims will be closely watched. The market focus is also gradually shifting toward the upcoming corporate earnings season."The initial outlook remains subdued, with the risk of further downward revisions to earnings growth, largely due to tepid demand and continued margin pressures. The IT sector, in particular, is expected to report soft numbers, and investor sentiment will hinge heavily on management commentary," said Vinod Nair, Head of Research, Geojit Investments.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)