News for 'Goods and Services'

Tennis and military service: Korea's players face tough choice

Tennis and military service: Korea's players face tough choice

Rediff.com3 hours ago

South Korean male professional tennis players face a unique challenge: mandatory military service, which interrupts their careers for 18 months. This article explores how players like Seong-chan Hong, Hyeon Chung, and Soonwoo Kwon adapt to this obligation, with some earning exemptions through sporting achievements while others navigate a return to the professional circuit after their service.

India Must Diversify Services Exports For Sustainable Growth

India Must Diversify Services Exports For Sustainable Growth

Rediff.com6 days ago

Commerce Secretary Rajesh Agarwal highlighted the critical need for India to diversify its services exports beyond the dominant IT/ITeS and professional services sectors. Speaking at the Global Fintech Fest 2026, he emphasised the vast potential in the global financial services market, where India currently holds a small share, and stressed how fintech solutions, like UPI, can drive growth, reduce remittance costs, and support MSME trade finance, ultimately leading to sustainable economic expansion.

India Services Growth Cools to 4-Year Low in August

India Services Growth Cools to 4-Year Low in August

Rediff.com3 Sep 2026

India's services activity expanded in August, but the pace of growth cooled to the second-slowest since March 2022, despite stronger output and new business, according to the HSBC India Services PMI Business Activity Index.

GST Council Oct 7 Meet: What Businesses Want!

GST Council Oct 7 Meet: What Businesses Want!

Rediff.com4 hours ago

Industry is pushing for GST reforms that would let companies use unused tax credits from one state to pay GST liabilities in another, potentially freeing up working capital trapped across state registrations.

Merchants to Pay 18% GST on UPI MDR for Transactions Above Rs 2,000

Merchants to Pay 18% GST on UPI MDR for Transactions Above Rs 2,000

Rediff.com1 hour ago

Merchants will be subject to an 18 per cent Goods and Services Tax (GST) on the Merchant Discount Rate (MDR) for UPI payments exceeding Rs 2,000, but can mitigate this burden by claiming input tax credit (ITC), according to tax experts.

US, EU flag India's 'trade barriers' at WTO, citing high tariffs, QCOs, and digital trade curbs

US, EU flag India's 'trade barriers' at WTO, citing high tariffs, QCOs, and digital trade curbs

Rediff.com6 days ago

The United States and the European Union have strongly criticised India's trade policies at the World Trade Organization review, highlighting concerns over high tariffs, quality-control orders (QCOs), and restrictions on digital trade and services, which they argue undermine India's economic openness.

Commercial Coal Block Auctions to Generate 55,000 Crore Investment, 490,000 Jobs

Commercial Coal Block Auctions to Generate 55,000 Crore Investment, 490,000 Jobs

Rediff.com1 days ago

The Indian coal ministry announced that 147 commercial coal blocks auctioned since 2020 are expected to attract approximately 55,000 crore in capital investment, generate 490,000 jobs, and contribute significantly to state revenues.

Understanding The GST Impact On UPI Transactions Over Rs 2,000

Understanding The GST Impact On UPI Transactions Over Rs 2,000

Rediff.com1 hour ago

Tax experts clarify that merchants will pay 18% GST on Merchant Discount Rate (MDR) for UPI payments exceeding Rs 2,000, effective October 15. However, registered merchants can claim Input Tax Credit (ITC), mitigating the tax burden. This move is expected to generate significant GST revenue for the exchequer while funding payment infrastructure.

Coco Gauff sees progress despite US Open semi-final loss to Rybakina

Coco Gauff sees progress despite US Open semi-final loss to Rybakina

Rediff.com5 days ago

Despite her US Open title bid ending in a 3-6, 6-4, 6-4 loss to Elena Rybakina, Coco Gauff believes the changes she has made to her game are starting to yield positive results, expressing excitement for future development.

India's exports jump over 26% in August; trade gap shrinks to five-month low

India's exports jump over 26% in August; trade gap shrinks to five-month low

Rediff.com4 hours ago

India's exports saw a significant increase of 26.12 per cent to USD 43.81 billion in August, leading to a narrowed trade deficit of USD 26.86 billion, driven by strong demand from key global markets and diverse sectors.

How India Is Integrating Payment Systems In Global Trade Deals

How India Is Integrating Payment Systems In Global Trade Deals

Rediff.com6 days ago

India is actively integrating payment system harmonisation into its Free Trade Agreement (FTA) negotiations, especially with countries hosting a large Indian diaspora. This strategy aims to leverage India's growing fintech ecosystem, facilitate cross-border financial services, and position India as a global hub for financial services exports, particularly through platforms like GIFT City.

How Satwik-Chirag's 'Mindfully Aggressive' Play Led To China Masters Title

How Satwik-Chirag's 'Mindfully Aggressive' Play Led To China Masters Title

Rediff.com6 Sep 2026

Indian badminton stars Satwiksairaj Rankireddy and Chirag Shetty clinched the China Masters Super 750 title, overcoming a strong Chinese pair in a thrilling comeback. This victory, their second of the 2026 season, provides a significant confidence boost ahead of the Asian Games, where they plan to play "all guns blazing." The duo attributed their success to a "mindfully aggressive" strategy and improved service.

'This tournament gave us a lot of confidence': Satwik after China Masters win

'This tournament gave us a lot of confidence': Satwik after China Masters win

Rediff.com6 Sep 2026

Satwiksairaj Rankireddy and Chirag Shetty beat He Ji Ting and Ren Xiang Yu to win the China Masters Super 750, gaining a major boost ahead of the Asian Games gold defence.

Govt Amends E-commerce Rules to Boost Transparency, Curb Manipulation

Govt Amends E-commerce Rules to Boost Transparency, Curb Manipulation

Rediff.com5 days ago

The Indian government has amended its e-commerce rules to enhance price transparency, prevent manipulation of search results, mandate clear disclosure of sponsored listings, and combat 'dark patterns' to protect consumers.

UK sanctions West Bank settlers, Israel shuts British consulate

UK sanctions West Bank settlers, Israel shuts British consulate

Rediff.com7 days ago

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.

GST Mop-up Jumps 15% to Rs 2 Lakh Crore in August

GST Mop-up Jumps 15% to Rs 2 Lakh Crore in August

Rediff.com1 Sep 2026

India's gross Goods and Services Tax (GST) collections saw a significant 14.8 per cent year-on-year increase in August, reaching approximately Rs 2 lakh crore, with import revenue contributing substantially to this growth.

Left London career to join IAS, Divya Mittal quits after 13 years

Left London career to join IAS, Divya Mittal quits after 13 years

Rediff.com3 Sep 2026

Divya Mittal, a 2013-batch IAS officer and former Deoria district magistrate, has resigned from the Indian Administrative Service after 13 years. An alumna of IIT Delhi and IIM Bangalore, Mittal cited no specific reason but reflected on her journey from working in London to serving India, highlighting her impactful tenures in Mirzapur and Deoria.

'Bank Customers Have Become Demanding'

'Bank Customers Have Become Demanding'

Rediff.com1 days ago

'Ultimately, banks are a channel for people to get some long-term return, and this means banks need to adjust their asset-liability mismatch.' 'Customers also need long-term deposits, say those of three-five years. How would they get them if returns on those deposits do not climb?' 'Otherwise, on fixed deposits, a senior citizen doesn't get anything.'

Eway Bills Cross 139 Million in August, Signalling Sustained Economic Momentum

Eway Bills Cross 139 Million in August, Signalling Sustained Economic Momentum

Rediff.com5 Sep 2026

India's eway bill generation reached 139.08 million in August, marking the third-highest monthly count on record and indicating sustained momentum in goods movement and formal economic activity, according to official data.

BRICS Summit Pushes For Safe And Inclusive AI Development

BRICS Summit Pushes For Safe And Inclusive AI Development

Rediff.com3 days ago

BRICS leaders, in their New Delhi Declaration 2026, have called for wider access to Artificial Intelligence resources and stronger international cooperation to ensure the technology is safe, secure, inclusive, and reliable. The declaration outlines a broad technology agenda covering AI, cybersecurity, digital public infrastructure, telecom, quantum technologies, and advanced manufacturing, committing to implement the grouping's statement on 'Global Governance of Artificial Intelligence'.

India Inc's foreign funding intent surges to $7.7 billion in July

India Inc's foreign funding intent surges to $7.7 billion in July

Rediff.com8 Sep 2026

Indian companies, including NBFCs, filed proposals to raise $7.696 billion through external commercial borrowings (ECBs) and foreign currency convertible bonds (FCCBs) in July 2026, a significant increase from $6.09 billion in June.

Navi Mumbai Airport starts international operations with Abu Dhabi service

Navi Mumbai Airport starts international operations with Abu Dhabi service

Rediff.com15 Jul 2026

Navi Mumbai International Airport (NMIA) has officially commenced its international flight operations with an Air India Express service to Abu Dhabi, marking a significant boost in connectivity for the Mumbai Metropolitan Region and establishing a new global gateway.

Rural CV retail sales growth outpaces urban, driven by diversified economy and GST impact

Rural CV retail sales growth outpaces urban, driven by diversified economy and GST impact

Rediff.com7 Sep 2026

Rural commercial vehicle (CV) registrations have consistently outpaced urban sales from April to July 2026, driven by a significant diversification of the rural economy and the positive impact of GST-led consumption, according to experts and data from Fada.

Passenger Vehicle Exports Fall 17% in August Amid Domestic Sales Boom

Passenger Vehicle Exports Fall 17% in August Amid Domestic Sales Boom

Rediff.com5 hours ago

India's passenger vehicle (PV) exports saw a 17 per cent year-on-year decline in August, contrasting sharply with a 36.5 per cent surge in domestic dispatches, which reached a record high for the month as automakers prepared for the festive season.

The Prince And The Driver

The Prince And The Driver

Rediff.com8 hours ago

A Kishore Kumar song, a birthday cake, a prince's break from protocol to thank his driver, a Persian painting on the ceiling of the presidential residence -- the BRICS Summit had many memorable moments.

How SBI Is Revolutionising Small Business Lending With UPI Data

How SBI Is Revolutionising Small Business Lending With UPI Data

Rediff.com4 days ago

State Bank of India (SBI) is developing an innovative solution to assess the creditworthiness of small businesses lacking GST registration by utilising UPI transaction data. This initiative aims to provide end-to-end digital loans within a day, addressing the financial exclusion of many small enterprises.

How Satwik-Chirag Fought Back To Win China Masters Super 750

How Satwik-Chirag Fought Back To Win China Masters Super 750

Rediff.com6 Sep 2026

Star Indian men's doubles pair Satwiksairaj Rankireddy and Chirag Shetty secured the China Masters Super 750 title after a thrilling three-game comeback victory against China's He Ji Ting and Ren Xiang Yu. This marks their second title of the season and provides a significant confidence boost ahead of the upcoming Asian Games.

Indian Enterprises Boost AI Investment But Face Governance Challenges

Indian Enterprises Boost AI Investment But Face Governance Challenges

Rediff.com7 days ago

A new report reveals that enterprise AI investment in India has surged by 119 per cent, exceeding the global average. However, only 22 per cent of Indian organisations have established adequate governance frameworks, creating a significant gap between rapid deployment and safe, scalable AI adoption. This lack of governance impacts operational depth and raises concerns about transparency, regulation, and data privacy.

Congress Questions Government's UPI Fee Notification

Congress Questions Government's UPI Fee Notification

Rediff.com1 days ago

The Congress party has criticised the government's recent notification regarding UPI transactions, alleging it paves the way for users to be charged fees, particularly for transactions above Rs 2,000. The party claims the government lacks transparency and questions if the move is to benefit American firms. The government, however, states that charges are necessary for the system's sustainability and infrastructure upgrades, with the Finance Minister clarifying that Merchant Discount Rate (MDR) applies to merchants, not customers.

IN-SPACe's Growing Role Raises ISRO Concerns

IN-SPACe's Growing Role Raises ISRO Concerns

Rediff.com7 hours ago

'IN-SPACe like an octopus is stretching its tentacles everywhere and choking ISRO.'

What Will Modi-Putin Discuss?

What Will Modi-Putin Discuss?

Rediff.com5 days ago

One of the important topics of discussion between the two leaders is expected to be the Northern Sea Route and the Chennai-Vladivostok Maritime Corridor.

BRICS Summit 2026 Focuses On Practical Outcomes

BRICS Summit 2026 Focuses On Practical Outcomes

Rediff.com2 days ago

The highlight of the successful BRICS Summit was its ability to deliver a joint statement that all members, including Iran and the United Arab Emirates, embroiled in the war in West Asia, signed.

US Open PIX: Elena Rybakina overcomes Gauff; to face Aryna Sabalenka in final

US Open PIX: Elena Rybakina overcomes Gauff; to face Aryna Sabalenka in final

Rediff.com5 days ago

Elena Rybakina overpowered Coco Gauff in a fierce US Open semi-final on Thursday to secure a title showdown with defending champion Aryna Sabalenka.

Rahul Gandhi Claims Modi Government Surrendering To US Pressure On UPI Charges

Rahul Gandhi Claims Modi Government Surrendering To US Pressure On UPI Charges

Rediff.com1 days ago

Congress leader Rahul Gandhi has accused the Modi government of quietly paving the way for imposing fees on UPI transactions, alleging it's a surrender to American pressure. The government's recent notification exempts charges only up to Rs 2,000, sparking concerns that higher value transactions and eventually all UPI payments could incur fees. Finance Minister Nirmala Sitharaman, however, clarified that Merchant Discount Rate (MDR) applies to merchants, not customers, and supports digital infrastructure.

Why Foreign Investors Are Missing India's Real Story

Why Foreign Investors Are Missing India's Real Story

Rediff.com2 Sep 2026

If India does get $100 billion a year in FDI, it would be a game-changer in every possible way. FPIs would come rushing back, AI or no AI, points out Debashis Basu.

RBI Deputy Governor flags systemic risk from financial institutions' reliance on common tech providers

RBI Deputy Governor flags systemic risk from financial institutions' reliance on common tech providers

Rediff.com6 days ago

Reserve Bank of India (RBI) Deputy Governor Rohit Jain has warned that financial institutions' increasing reliance on a small number of common technology providers, including cloud and AI model providers, could create a new source of systemic risk. He highlighted 'speed, concentration and opacity' as key risks, noting that a disruption at one provider could rapidly spread across multiple institutions, amplifying existing financial risks.

Oversupply Looms: India's Cement Sector Braces for Pricing Pressure

Oversupply Looms: India's Cement Sector Braces for Pricing Pressure

Rediff.com2 hours ago

India's cement industry is on the brink of an oversupply situation as aggressive capacity expansion by major players is set to outpace demand growth over the next two financial years, potentially leading to pricing pressures and moderated utilisation rates.

Geopolitical Tensions, Rising Oil Prices Drag Down Indian IT Stocks

Geopolitical Tensions, Rising Oil Prices Drag Down Indian IT Stocks

Rediff.com8 Sep 2026

Indian information technology (IT) stocks, led by Infosys, experienced a significant selloff, dragging the Nifty to a two-month low, primarily due to escalating West Asian tensions pushing crude oil prices higher, and concerns over upcoming large IPOs diverting funds from secondary markets. The sector is also grappling with the long-term implications of AI disruption.

RBI likely to hike rates by 50 bps as inflation breaches tolerance band

RBI likely to hike rates by 50 bps as inflation breaches tolerance band

Rediff.com5 hours ago

Economists widely anticipate the Reserve Bank of India's Monetary Policy Committee will increase the repo rate by 50 basis points, likely split between the October and December meetings, as retail inflation is projected to peak at 6.1 per cent in the third quarter, exceeding the RBI's tolerance limit.

Want An '80s Makeover? Try These Prompts For Instagram's Viral AI Trend

Want An '80s Makeover? Try These Prompts For Instagram's Viral AI Trend

Rediff.com7 days ago

Remember when photographs had film grain, hairstyles had volume and nobody had to worry about accidentally taking 47 identical selfies? The 1980s are back on Instagram, thanks to AI.