Devonyu
U.S. multinationals like McDonald’s (NYSE:MCD), Coca-Cola (NYSE:KO), Amazon (NASDAQ:AMZN), and Apple (AAPL) are facing boycott calls in India as business leaders and supporters of Prime Minister Narendra Modi push back against U.S. tariffs with rising anti-American sentiment.
India, the world’s most populous nation, for example, is the biggest market by users for Meta’s (META) WhatsApp, and Domino’s (DPZ) has more restaurants than any other brand in the country, a Reuters report said.
Beverages like Pepsi (PEP) and Coca-Cola (NYSE:KO), meanwhile, often fill store shelves, and people still queue up when a new Apple (AAPL) store opens or a Starbucks (SBUX) cafe doles out discounts.
On Sunday, Modi told a gathering in Bengaluru that Indian technology companies made products for the world but “now is the time for us to give more priority to India’s needs.”
Rahm Shastry, CEO of India’s DriveU, which provides a car driver on call service, wrote on LinkedIn: “India should have its own home-grown Twitter/Google/YouTube/WhatsApp/FB — like China has.”
The Swadeshi Jagran Manch group, which is linked to Modi’s Bharatiya Janata, shared with Reuters a table the group is circulating on WhatsApp, listing Indian brands of bath soaps, toothpaste, and cold drinks that people could choose over foreign ones.
The boycott call comes as President Donald Trump issued an executive order on Wednesday that ratchets up tariffs on goods from India by an additional 25% as a broader measure aimed against Russia.
More on McDonald’s, Coca-Cola, etc.
- Amazon: The AWS Business Faces Challenges But The Stock Looks Appealing
- McDonald’s: Solid, But No Chance Of Bag Fries At The Price
- Wall Street Lunch: McDonald’s Bounces Back
- Restaurant chains face challenges as U.S. consumers eat at home: FT
- Insider trades: AbbVie, Coca Cola , Roblox among notable names this week