Chinese President Xi Jinping's upcoming visit to India for the BRICS summit is a pivotal diplomatic event poised to significantly impact bilateral ties and global cooperation amidst ongoing international instability.
PhonePe has announced a significant expansion plan to deepen digital payment infrastructure across India's towns and villages. This initiative includes hiring over 20,000 sales personnel and deploying more than 50 lakh payment devices, with a strong focus on rural areas, aiming to bring small merchants into the formal financial ecosystem.
Mahindra has managed to deliver all these updates while retaining the starting ex-showroom price of 10.32 Lakh. And, that's a value play you rarely see in today's market, says Rajesh Karkera.
BRICS members have expressed 'serious concerns' over the unilateral imposition of trade and finance-related measures, including higher tariffs and non-tariff barriers, stating these actions distort trade and are inconsistent with WTO rules. The grouping also highlighted elevated risks to the global economic outlook due to geopolitical tensions, trade fragmentation, and protectionism.
A federal judge has temporarily blocked a Trump administration rule that sought to cap the stays of foreign students, journalists, and exchange visitors, citing potential 'catastrophic' damage to the US economy and higher-education system.
Iranian President Masoud Pezeshkian urged BRICS nations to expand trade in national currencies and build an inclusive global economic framework. He criticised "unilateral sanctions" by Western powers, stating they make emerging economies vulnerable and impact global food security. Pezeshkian emphasised BRICS' role in creating a balanced world order and highlighted Iran's geopolitical and energy capacities for cooperation.
The Finance Ministry is set to commence its pre-budget meetings on October 12, initiating preparations for the Union Budget 2027-28, which will be the fourth budget of the Modi 3.0 government and the tenth for Finance Minister Nirmala Sitharaman.
The United Arab Emirates (UAE) has expressed intent to invest an additional $25 billion in India, with an ultimate goal of reaching $100 billion in investments, Union Minister Piyush Goyal announced. This comes as both nations plan to enhance cooperation in shipping, ports, energy, and emerging technologies, against a backdrop of expanding bilateral trade.
Tata Capital remains confident in its 23-25 per cent growth guidance, driven by strong momentum in Retail and SME segments, despite facing pressures from rising funding costs and potential impacts from new RBI regulations on revolving credit.
Indian benchmark indices Sensex and Nifty rebounded on Wednesday, driven by a decline in crude oil prices below USD 100 per barrel and optimism surrounding a potential de-escalation of the conflict in West Asia.
Citron, a brand under Stellantis, anticipates that three-fourths of its sales in India will originate from Tier-II, Tier-III, and smaller cities within the next five years, a significant increase from its current 55 per cent, as it expands its retail network beyond major urban centres.
As the world's most populous country, India's economy looks large in the aggregate even as its average incomes stay modest.
Five southern states are stepping up coordination on delimitation, tax devolution and language issues, reviving calls for a stronger collective South platform.
'They are claiming that they are very good in governance. All governments do propaganda. This is the propaganda of the government that they are doing very well, in spite of all the troubles.'
'They are claiming that they are very good in governance. All governments do propaganda. This is the propaganda of the government that they are doing very well, in spite of all the troubles.'
Russian President Vladimir Putin has proposed a new investment platform, based on the New Development Bank (NDB), to fund projects in trade, infrastructure, logistics, and technology across BRICS nations, emphasising that the grouping's expanding economic cooperation is not 'against anyone' but aims to advance members' national interests.
J R D Tata, chairman of the Tata group from 1938 to 1991, said that whenever he had to make a difficult decision, he would ask himself, what will be good for India, and what will be good for the Tatas. If he had a doubt, he would decide in favour of India. In the long run, it would turn out well for the Tatas too, he said, points out Arun Maira.
'An instruction came from somebody in Delhi saying, "don't go with the launch".'
The Indian government has introduced a 0.4% transaction fee on UPI payments above Rs 2,000 for merchants, effective October 15, sparking a political row. The Congress party has labelled it a "Modi tax" and accused the government of succumbing to US pressure, while the BJP has defended the move, clarifying that consumers will not be charged and small vendors are protected. The finance ministry reiterated that the charge is on merchants, not customers.
United States Treasury Secretary Scott Bessent has warned that Iranian airlines could be effectively shut out of international travel from Wednesday, September 23, as Washington threatens secondary sanctions against foreign companies that continue providing services to Iran's carriers.
Arundhati Bhattacharyya, Salesforce President and CEO for South Asia, highlighted how cloud and AI are democratising capabilities, offering India a unique opportunity to leapfrog in the technology revolution. Speaking at the IMC Chamber of Commerce, she emphasised that AI will create more jobs by addressing unmet business demands and could significantly boost India's GDP, with NITI Aayog estimating a USD 500-600 billion addition by 2035. She urged Indian businesses to transform using technology, focus on data, redesign work, and invest in skills, stressing that AI is not just for large corporations.
India's three-match ODI series against the West Indies, starting Sunday, is a vital preparatory stage for the ICC World Cup 2027. The series will focus on giving game time to young players like Yashasvi Jaiswal and assessing the form of key players like Rohit Sharma and Virat Kohli, who is nearing a significant ODI milestone. The development of all-rounder Nitish Kumar Reddy is also a priority. The West Indies team, grappling with recent losses and financial issues, will aim to overcome these challenges and deliver a competitive performance.
Putin has issued a stark warning to European nations, declaring that any deployment of troops to Ukraine would be met with 'war with Russia'.
Chinese President Xi Jinping concluded his three-day visit to the US, stating that his discussions with President Donald Trump had injected "new substance" into the China-US relationship. Both leaders expressed optimism for future cooperation, with agreements reached on certain trade goods and discussions held on AI capabilities.
For India, the goal is not simply to host another grand diplomatic gathering. It is to prove that a diverse coalition of emerging powers can still deliver.
The NCP (SP) has demanded a complete rollback of the 0.4 per cent Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000, effective October 15. The party termed the move a "direct assault" on small traders and shopkeepers, accusing the Modi government of "double standards" by burdening small merchants while large industrialists benefit from loan write-offs.
Samsung India has launched an Innovation Campus in Karnataka, in partnership with Nrupathunga University, to train 2,000 young individuals in industry-relevant AI skills. This initiative aims to support Karnataka's goal of building an AI-native ecosystem and developing a future-ready technology workforce, expanding access to practical AI education.
The Congress party has criticised the government's new 0.4% charge on UPI transactions above Rs 2,000 for merchants, terming it a "Modi tax". Opposition leaders, including Rahul Gandhi and Mallikarjun Kharge, allege that this move will ultimately burden consumers through price hikes and accuse the government of succumbing to American pressure to dilute India's zero-MDR policy. The government states the charge will support banks and fintechs.
Pakistan's government is exploring measures, including potential smart lockdowns and austerity, to reduce petroleum consumption. This comes after recent fuel price hikes driven by rising global oil prices and West Asia tensions, which have also raised concerns about oil supply disruptions. The government is also implementing a fuel relief scheme and faces public pressure over the price increases.
India is hosting the 18th BRICS Summit in New Delhi, bringing together numerous world leaders including presidents from China, Russia, South Africa, Iran, and Egypt, along with prime ministers and foreign ministers from other nations. The summit will feature bilateral talks and highlights the expanded BRICS grouping's growing global influence and India's significant role as a founding member and current chair.
Tata Chemicals has stated its commitment to resolving outstanding issues with the Kenyan government after President William Ruto reportedly ordered its subsidiary, Tata Chemicals Magadi Ltd, to cease operations, citing a lack of benefit to citizens.
The United States has announced a new round of trade measures against Canada, including bans on Canadian dairy, alcoholic beverages, and motorcycles, and reshuffled existing tariffs. This escalation comes after Canada imposed retaliatory tariffs on American goods. The US administration cited Canada's retaliatory actions as the trigger, contrasting it with other nations that chose negotiation over retaliation.
Pakistan's Defence Minister Khawaja Asif has reiterated the nation's unwavering commitment to the Makkah Joint Defence Agreement, underscoring its role in regional security following an attempted drone attack near the holy city of Mecca. The pact, signed by Pakistan, Turkiye, and Saudi Arabia, establishes a framework for collective deterrence against armed attacks.
Foreign Portfolio Investors (FPIs) have withdrawn Rs 20,974 crore from Indian equities in September, driven by global uncertainties, higher US interest rates and bond yields, elevated crude oil prices, and a weakening rupee.
RBI Deputy Governor Rohit Jain highlighted that banks are well-positioned to deploy $133 billion mobilised through FCNR(B) deposits, especially with strong credit demand ahead of the festival season, while also stressing the importance of robust technology governance and cyber defences in the financial sector.
US President Donald Trump has extended the USD 100,000 fee on employers for H-1B foreign workers for another year, citing a significant decrease in registrations from large IT outsourcing firms. This move, aimed at protecting American jobs and ensuring highly-skilled workers, also includes a separate proclamation for enhanced scrutiny of H-1B applications, particularly concerning potential layoffs of US workers.
Zoho cofounder Sridhar Vembu dismisses exaggerated fears about AI's catastrophic potential and global development pauses. He advocates for India to adopt an independent AI strategy, fostering partnerships while avoiding entanglement in US-China tech rivalry. Vembu stresses extensive investment in foundational R&D across sectors, distinguishing it from costly frontier AI model development. He also highlights concerns about AI's impact on human judgment, skill erosion, and job disruption, particularly in software engineering, while remaining optimistic about new economic opportunities.
The BRICS summit in New Delhi brings together leaders from major emerging economies to address global challenges like trade disputes, geopolitical upheavals, and the economic impact of conflicts in Ukraine and West Asia. India, as chair, aims to position BRICS as an economic growth engine, focusing on the Global South's food, energy, and supply chain security. The summit also highlights the grouping's expansion and its growing influence in global governance.
The FCNR (B) stratagem relies on using public money to defend the rupee. The State subsidises foreign borrowing to attract dollars. This tool requires large-scale borrowing to make a material difference against a gross external flow of $11 billion a day. A commensurately large fiscal cost falls upon the exchequer. The ministry of finance will choose how much it is willing to spend in exchange for this round number, points out Ajay Shah.
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.
