United States contributed approximately $32 billion in remittances to India in 2023-24. (AI image) US remittance tax relief on the cards! Non-Resident Indians or NRIs have reason to breathe a sigh of relief as the final draft of the ‘One Big Beautiful Bill Act’ proposes just 1% tax on remittances, as against 3.5% earlier. Originally,…
India will continue its robust economic growth trajectory and outpace major industrialised G7 countries, supported by strong domestic demand, sound macroeconomic fundamentals and a favourable demographic profile, the PHD Chamber of Commerce and Industry (PHDCCI) said in a report. The report, titled Population, Productivity, Partnership: Rethinking G7-India Collaboration, highlights that with an average real GDP…
In a step to promote agroforestry and streamline tree felling norms on agricultural lands, the Centre has notified a new set of model rules aimed at easing procedural hurdles for farmers, increasing tree cover outside forests, and supporting India’s climate goals under the Paris Agreement.In a letter dated June 19 to all state governments, the…
The Ministry of Power on Saturday announced the formation of a task force to develop the India Energy Stack (IES)—a unified digital public infrastructure aimed at transforming India’s power sector with secure, standardised, and interoperable systems.Power Minister Manohar Lal Khattar said the IES will be instrumental in integrating renewable energy, boosting DISCOM efficiency, and ensuring…
Bangladesh has paid $384 million to Adani Power this month, significantly reducing its outstanding dues under a 2017 power supply agreement with the Indian company, according to sources.As of June 27, Bangladesh has paid $384 million of the committed $437 million scheduled for the month. Sources said this amount clears the country’s “admitted” dues till…
Meesho representative image Bengaluru-based ecommerce marketplace Meesho has received shareholder approval to launch its initial public offering (IPO), aiming to raise Rs 4,250 crore (about $500 million) through a fresh issue of equity shares, according to filings with the Registrar of Companies.The approval was granted at an extraordinary general meeting of the company. The IPO…
The need to scale up research and development (R&D) across Indian academia and industry was a recurring theme at the ‘AI for India’ summit in Bengaluru, where leading voices in artificial intelligence stressed the urgency of cross-sectoral collaboration to make AI work at scale in India.“This is an opportunity. R&D must step up, and this…
Elon Musk-owned Starlink is poised to receive its final regulatory approval to launch satellite communication services in India, with space regulator IN-SPACe issuing a draft authorisation document for the company to sign. Once completed, the Indian National Space Promotion and Authorisation Centre will countersign the document, effectively clearing the way for Starlink to begin operations.The…
Standard Chartered Bank (Image credits: IANS) Credit growth in the economy is influenced more by overall economic activity than by the size of the liquidity surplus, according to a recent report by international bank Standard Chartered.The report said that while a high liquidity surplus may support growth in unsecured personal loans (excluding consumer durable loans),…
The Kolhapuri chappals received GI designation on December 11, 2018. Prada, the Italian high-end fashion brand, has confirmed that their upcoming Spring Summer 2026 menswear line incorporated designs influenced by Kolhapuri chappals, addressing the controversy that caused significant displeasure in India and sparked discussions about cultural appropriation. The leather sandal with open toes presented by…
