The US has approved the sale of Excalibur Projectiles, Javelin Missile System and related equipment totalling over 90 million dollars to India.
India, the world's fourth largest economy, is set to maintain the 'goldilocks' phase with tailwinds of good growth, low inflation and robust banking performance as well as reform initiatives poised to sustain the economic pace witnessed during 2025.
This is the first Budget in my memory of Budgets over the last half a century which has embraced upfront, enthusiastically and emphatically, technology, modernity and fiscal sobriety, notes Shreekant Sambrani.
Budget 2026 sticks to fiscal discipline, shuns populist measures despite five key state elections coming up, but ends up rattling stock markets with a higher transaction tax on derivatives trading.
'The real story of 2025 is that India officially stopped being a 'market of the future' and started acting as the world's primary economic engine.'
'Grassroots-level corruption, which disrupts the last-mile work, cannot be ignored in your enthusiasm and drive to get going to complete the project.' 'Like it was in MGNREGA, in some states, it is the case with the Jal Jeevan mission.' 'The last minute levels of corruption can ruin the intent of the project itself.' 'When you see that people can game a particular well-intended and well-crafted project, you need to correct that.'
Microsoft CEO Satya Nadella on Tuesday announced plans to invest $17.5 billion in India to help build infrastructure and sovereign capabilities for the country's AI-first future, marking the third major AI-driven investment in the country in the past two months. Microsoft said that the $17.5 billion (around Rs 1.58 lakh crore) investment builds on the $3 billion (around Rs 26,955 crore) funding announced earlier this year, which the company is on track to spend by the end of CY (calendar year) 2026.
Among the Sensex firms, Bharat Electronics Ltd, Mahindra & Mahindra, Adani Ports, HCL Technologies, Eternal, Infosys, Bharti Airtel, Sun Pharmaceuticals, Larsen & Toubro, Hindustan Unilever and UltraTech Cement were the gainers. Bajaj Finance, Tata Motors Passenger Vehicles, Kotak Mahindra Bank, PowerGrid and Tata Steel were among the laggards.
'If a common man wants to buy an air purifier for Rs 10,000, then he will have to shell out Rs 11,800 with 18 percent GST.' 'If he is charged GST at 5 percent the same air purifier will cost Rs 10,500.' 'This saves a one time amount of Rs 1,300 -- and that too just to breathe clean air.'
Indian and US military contingents will participate in a joint exercise in Alaska, focusing on tactical drills and integrated use of military systems.
Leader of Opposition in the Lok Sabha Rahul Gandhi on Wednesday challenged Home Minister Amit Shah to debate with him on his three press conferences in which the Congress leader alleged 'vote chori' by the Bharatiya Janata Party in collusion with the Election Commission.
Gold prices surged Rs 2,200 to hit a fresh peak of Rs 116,200 per 10 grams in the national capital on Monday buoyed by strong global cues as investors awaited key commentary from US Fed officials for policy direction. According to the All India Sarafa Association, the precious metal of 99.9 per cent purity had closed at Rs 1,14,000 per 10 grams on Friday.
Google plans to invest $15 billion over the next five years in setting an artificial intelligence hub in Visakhapatnam, a senior official of the company said on Tuesday.
In trade negotiations, as in chess, sometimes you need to accept a temporary disadvantage to secure a better long-term position, points out Sonal Varma, chief economist (India and Asia ex-Japan) at Nomura.
'As one of many immigrants at Nvidia, I know the opportunities we've found in America have profoundly shaped our lives.'
'This tragedy will not be the last -- you shall witness another tomorrow, perhaps another the day after, and increasingly more.'
India's goods exports rebounded in July after two months of contraction, with outbound shipments rising 7.3 per cent to $37.24 billion, led by a surge in exports to the United States before the country's reciprocal tariff kicked in and bolstered by a recovery in exports to other key markets.
Rising for the sixth consecutive session, gold prices rallied Rs 1,000 to hit yet another record high of Rs 105,670 per 10 grams in the national capital on Monday, lifted by expectations of a rate cut by the US Federal Reserve this month and robust demand in overseas markets.
The private consortium would invest more than Rs 1,200 crore over the next five years to launch a constellation of 12 state-of-the-art Earth Observation satellites equipped with panchromatic, multispectral, hyperspectral, and microwave SAR (synthetic aperture radar) sensors.
Any industrial policy is only as good as how it is applied and the other reforms that support it. This was as true 40 years ago as it is now, points out Debashis Basu.
New lower GST rates kicked in from Monday, resulting in a slashing of prices of as many as 375 items ranging from toothpaste and shampoo to cars and television sets, a move seen as an attempt to boost consumption to cushion an economy facing tariff headwinds. Tax rates of 5, 12, 18, and 28 per cent have been clubbed into two rates of 5 per cent and 18 per cent, resulting in a reduced price of 99 per cent of daily use items.
'At present, we are conducting internal consultations with legal minds and other stakeholders.' 'Once we have a reasonable draft, we'll then engage in broader consultations.'
The move triggered sharp reaction from the opposition, which has accused the state's BJP government of trying to stifle freedom of expression.
What has surprised the industry is that the Bill has been tabled without any consultation. Critics warn the ban on real-money gaming could fuel black markets, endanger 200,000 jobs and billions in tax revenue.
For kids in the United States, the tariff imposed by the Donald Trump administration on countries like China may no longer be a child's play, as toy prices are predicted to touch record highs this Christmas season. However, for India's toy export industry, which was ready to take giant strides in the sector by bagging heavy orders from the US retail giants like Walmart, Amazon, and Target Corporation, gaining from the China-Plus-One policy, the US tariffs came as a heavy jolt.
Essential and strategic items such as pharmaceuticals, semiconductors, copper, and energy products like oil, gas, coal and LNG are exempted from the 27 per cent import duty announced by the US on Wednesday, according to think tank GTRI.
'The new Bill introduces no policy or rate changes, leaving financial planning strategies largely unaffected.'
'The considerations for choosing between the old and new tax regimes remain essentially unchanged.'
Pixxel has raised $95 million in funding and with the company's commercial Firefly satellites up in orbit selling data globally 'we know and seen what it takes to make this business work.'
The Indian government has introduced a bill in the Lok Sabha to ban online games played with money, aiming to curb addiction, money laundering, and financial fraud. The bill also targets advertisements and financial transactions related to such games.
India's economic growth forecast for 2025 has been revised downward to 6.3 per cent, and despite a projected moderation, the country remains one of the fastest-growing large economies, supported by resilient consumption and government spending, the United Nations has said.
To those who ask, "Is all this really worth it? Why can't domestic demand fill the gap?", it is important to remind them that only 13 economies since the Second World War have grown at 7 per cent or more for 25 years -- like India needs to. They all had one thing in common: Strong export growth underpinned by strong global engagement, explains Sajjid Z Chinoy.
Generative AI is transforming workplaces but at a cost -- there are fewer jobs for young workers just entering the workforce, reveals a Goldman Sachs report.
'The larger and more opaque this shadow economy becomes, especially online, the greater the risk to India's national security.'
If India caves in to US pressure as Trump hopes it will, he will further try to blackmail it into submission, points out Ramesh Menon.
'I think that kind of change is coming. We should stay prepared for that change, whichever industry or sector we are in, we must be prepared.'
India needs to be technologically and militarily prepared to defend itself from both Pakistan and China, alerts Ramesh Menon.
'It is in electronics that the gap between where we are and where we need to be is most obvious and most persistent.' 'It is not only a national security issue, but also a commercial issue,' argues Rajeev Srinivasan.
The Trump administration has revoked Harvard University's eligibility to enrol foreign students, raising concerns over the legal status of thousands of students, including nearly 800 from India, currently enrolled at the varsity.
Prime Minister Narendra Modi asserted that his "vocal for local" campaign is bearing fruit as Indian products are going global and making their presence felt across the world. He said that India was becoming the land of infinite innovations, finding affordable solutions and offering them to the world. The prime minister also highlighted the country's rising defense products, electronics, automobile sector, and the success of superfoods, Ayush products, and yoga. He said India should be presented to the world as it is, without any bias. Modi said that the country was now emerging as a manufacturing hub and a "factory of the world." He added that India was creating solutions that were affordable, accessible, and adaptable, and offering them to the world without gatekeeping.
...but are we chasing yesterday's dreams, asks Ajit Balakrishnan.
