Finance Minister Nirmala Sitharaman announced that the Goods and Services Tax (GST) Council's October 7 meeting will focus on 'GST 2.0' process reforms, including e-invoicing and input tax credit rules, while also addressing complex issues surrounding the taxation of the digital economy and cryptocurrency.
A working paper by the Economic Advisory Council to the Prime Minister (EAC-PM) reveals a continuous decline in the rate at which foreign-owned firms invest in fixed assets in India since the FY20 peak, contrasting with a steady increase from Indian business groups.
India and China are in what experts call 'a cooperation-versus-competition situation'.
China has strongly rejected a US bill that would impose tariffs on countries, including India, for purchasing Russian oil and gas. Beijing views the "Lindsey O Graham Sanctioning Russia and Iran Act 2026" as an act of "long-arm jurisdiction" and interference in its sovereign trade relations, asserting that its economic cooperation with other nations is based on equality and mutual benefit.
Chinese President Xi Jinping is set to visit the United States from September 23 to 25 for summit talks with US President Donald Trump, with discussions expected to cover critical economic and trade issues, including AI, and the recently signed US sanctions law targeting countries buying Russian oil and gas.
Ahead of Xi Jinping's visit, National Security Advisor Ajit Doval and Chinese Foreign Minister Wang Yi held extensive talks in Beijing on August 25 on the boundary issue and reached an eight-point consensus.
The Ministry of External Affairs stated that India's participation in the 2027 SAF Games in Pakistan will be guided by the sports ministry's policy, which permits Indian athletes to compete in events with Pakistani participants and vice-versa. Separately, the MEA also commented on the ongoing legal proceedings for seven foreign nationals, including a US citizen and six Ukrainians, who were recently chargesheeted by the NIA for illegal entry and movement, though not under UAPA at this stage.
A devastating fire on a foreign-flagged cargo ship undergoing repairs at the Qingdao Beihai shipyard in eastern China has resulted in 20 fatalities. Chinese President Xi Jinping and Premier Li Qiang have issued directives for intensified search and rescue operations, thorough investigations into the cause, and enhanced safety measures across all sectors to prevent future accidents.
Top US and Chinese officials, including Vice Premier He Lifeng and Treasury Secretary Scott Bessent, held "candid, in-depth and constructive" talks in New York on economic and trade issues, with a specific focus on artificial intelligence. These discussions precede Chinese President Xi Jinping's anticipated visit to Washington and occur amidst new US sanctions targeting countries purchasing Russian oil and gas, and the US unveiling an "AI Force."
The UK has announced a comprehensive sanctions regime against Israeli settlements in the West Bank, banning the import of goods and targeting entities involved in settlement expansion. Foreign Secretary Ed Miliband condemned the "ethnic cleansing of Palestinians" and highlighted international support for the UK's stance, while Israel reacted strongly with counter-measures.
The UN General Assembly has adopted a resolution, backed by India, to correct the world map for a more accurate representation of continental landmasses. The resolution addresses the distortions caused by the widely used Mercator projection, which minimises the perceived sizes of regions like Africa, Latin America, and South Asia, promoting an unbalanced global view. India supports the move towards more accurate cartographic practices, specifically endorsing broader use of Equal Area map projections.
The Finance Ministry has clarified that the 0.4 per cent Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000, effective October 15, is not expected to increase cash transactions or cause inflation. The ministry also dismissed allegations of US pressure influencing the decision, asserting that the policy aims to promote RuPay credit cards within the UPI ecosystem, and a monitoring mechanism will ensure the MDR burden is not passed on to consumers.
Pakistan is set to host the 14th South Asian Games in April next year across Islamabad, Lahore, and Peshawar, after a six-year delay. While the South Asia Olympic Council has approved the dates and venues, India's participation remains uncertain due to political tensions, despite its representative attending the planning meeting.
The Brics proposal for a Grain Exchange, aimed at challenging the dominance of Western trading firms, faces significant operational and implementation hurdles, including settlement currency, regulatory frameworks, and limited participation from key members like India, according to experts.
The death toll from devastating flash floods in Nepal has tragically risen to 903, with 4,247 people still reported missing, including security personnel and foreigners. India has dispatched an 18-member team of forensic experts to assist with DNA analysis and identification of victims.
It is an unusual choice to depute a retired general for the funeral of a revered religious figure but a thoughtful one in an attempt to inject verve into the bilateral relationship and restore the equilibrium in India's West Asian policies, notes Ambassador M K Bhadrakumar.
Chief ministers from southern states convened at the Southern Zonal Council meeting in Kovalam, where Karnataka CM DK Shivakumar advocated for the 1971 census as the basis for delimitation and a freeze on Lok Sabha seats, while also addressing the contentious Cauvery water and Mekedatu dam issues.
Nepali Prime Minister Balendra Shah held his first one-on-one meeting with Indian Ambassador Naveen Srivastava, signalling a shift towards direct diplomacy after previously preferring group interactions. The discussion focused on strengthening bilateral ties, development partnerships, and mutual interests between India and Nepal.
'It beggars belief that Saudi Arabia would deploy military force against India, a top partner and market.'
Supreme Leader Mojtaba Khamenei has reshuffled Iran's political and national-security establishment, appointing former SNSC Secretary Mohammad Bagher Zolghadr as his political adviser and veteran IRGC commander Mohsen Rezaei as his representative on the Supreme National Security Council, consolidating power amid the West Asia crisis and Strait of Hormuz tensions.
'The prohibition regime has been accompanied by concerns regarding the expansion of the illicit liquor trade, increased enforcement challenges and corruption, and the growing use of alternative intoxicants, including illicit drugs.'
A parliamentary panel has strongly recommended that the Indian government appoint a dedicated 'polar ambassador' to enhance its strategic engagement and diplomatic influence in the critical Arctic and Antarctic regions, aligning with global trends and India's growing focus on polar affairs.
Two family members of Qassem Soleimani, the Iranian general killed in a US strike in 2020, have been arrested in the United States after their residency permits were rescinded.
It is plain to see that the US senate bill's real objective is to derail India's time-tested strategic partnership with Russia, points out Ambassador M K Bhadrakumar.
The International Olympic Committee has provisionally lifted its ban on the Russian Olympic Committee, which was imposed in 2023. This decision opens the door for Russian athletes to return to international competitions, including the Los Angeles 2028 Olympics, though the use of national symbols remains undecided.
US Secretary of State Marco Rubio met with Pakistan's Foreign Minister Ishaq Dar amid American demand that countries mediating the peace talks with Iran join the Abraham Accords and establish diplomatic and economic ties with Israel.
Khamenei urged the pilgrims for unity and called on them to pray for "the liberation of Palestine and Al-Aqsa Mosque, the alleviation of the great hardships afflicting Muslims, and the attainment of ultimate victory against global arrogance."
The Indian government is set to accelerate reforms, including measures to enhance foreign direct investment, speed up divestment, and boost asset monetisation, to maintain economic growth despite rising fuel and fertiliser import costs driven by the West Asia crisis.
Indian companies' overseas expansion plans are holding strong despite geopolitical tensions in West Asia, driven by structural factors like supply-chain diversification, free trade agreements, and market expansion, according to Ajay Sharma, managing director and head of banking at HSBC India.
'The flip side of this is that he won't hesitate to call out India if he thinks its policies are hurting US economic interests or border US foreign policy goals.'
Legendary economist and former Federal Reserve chairman Alan Greenspan has died at the age of 100 due to complications related to Parkinson's disease, his wife Andrea Mitchell confirmed.
One of the most important provisions this year is that qualifying NEET-PG does not automatically guarantee participation in counselling.
Iranian Foreign Ministry spokesperson Esmail Baghaei stated that Iran is instead working with Oman to establish a mechanism for the safe passage of ships through the Strait.
For the foreseeable future, the most likely outcome remains continuation of the status quo. Taiwan will remain self-governing without formally declaring independence, while China continues to apply sustained pressure short of war, predict Krishnan Srinivasan and Manoj Mohanka.
Indian startup funding plummeted by 43 per cent year-on-year to $7.81 billion between March 1 and June 15, 2026, largely due to the West Asia conflict, which has amplified global risk perceptions, tightened liquidity, and led to rupee depreciation, making global investors cautious.
India has expressed serious concerns about the West Asia crisis and its potential impact on energy supplies and maritime stability, urging BRICS nations to find practical solutions to geopolitical challenges and unilateral sanctions.
'Why not aspire for 8 or 9 or even 10 per cent?'
Top leaders from the US, Iran, and Pakistan, along with other nations, have gathered in Switzerland for high-level talks aimed at restoring peace in West Asia. These negotiations follow a recently signed Memorandum of Understanding between the US and Iran, initiating a 60-day window for a deal. Discussions focus on Iran's nuclear programme and the fragile interim peace deal, amidst renewed tensions and the fluctuating status of the Strait of Hormuz.
The 42-year-old, who has had stints at Microsoft, Facebook and Twitter, made the announcement of leaving his role as Senior Policy Advisor for Artificial Intelligence in a post on X on Saturday.
The mayor of Arcadia, California, Eileen Wang, has agreed to plead guilty for acting as an illegal agent of China, according to the US Department of Justice. Wang, along with her then-fiance, Yaoning 'Mike' Sun, were charged with promoting pro-China propaganda in the US at the behest of Chinese government officials.
