Communication channels between India and the US are open to resolve the ongoing tariff issues, and the glitch in trade ties is only temporary, given the long-term relationship between the two nations, government sources said on Wednesday. The US' 50 per cent tariffs on Indian exports to America came into effect from August 27, barring a few sectors.
There was no money, sponsors didn't make a beeline and foreign tours were an ordeal, but there were women of steel who believed in the old adage that "the show must go on." And Nutan Gavaskar was the first among equals, one of the torchbearers of the women's cricket movement in India back then in 1973.
US President Donald Trump expresses frustration with the lack of progress in trade talks with India, imposing a 25% tariff. The move comes amid concerns over trade deficits and India's reliance on Russian military equipment and energy.
India's National Security Advisor Ajit Doval is expected to attend a major security meeting in Moscow next week, organized by Russia's Security Council. Doval is invited for the 13th international meeting of high representatives for security issues, taking place from May 27-29. The meeting, chaired by Sergei Shoigu, Secretary of the Security Council of the Russian Federation, will see participation from over 150 countries and international organizations. Pakistan's NSA, Lt Gen Asim Malik, is also expected to attend the meeting, leading to speculation of a possible face-to-face meeting between the two NSAs amidst heightened tensions between India and Pakistan following the Pahalgam attack and subsequent retaliatory actions.
These changes certainly bring India's GST a lot closer to what an ideal GST would look like, points out Karan Bhasin.
The Congress party has criticized Prime Minister Narendra Modi's handling of GST reforms, calling them inadequate and demanding an apology for the tax imposed on essential items. They argue that the reforms are merely a 'band-aid' solution and that the government should address the states' demand for extended compensation.
'This is not a case of tax evasion but the result of long-standing ambiguities in GST rules and unawareness.'
Prime Minister Modi urged the people of the country to take pride in selling and buying indigenous goods.
The US on Wednesday mourned the death of veteran industrialist and philanthropist Ratan Naval Tata, remembering him as someone who drove India to greater prosperity and development. Tata, the former Tata Group chairman who transformed a staid group into India's largest and most influential conglomerate, breathed his last at south Mumbai's Breach Candy Hospital at 11.30 pm on Wednesday. He was 86. "My last meeting with Ratan Tata at Google, we talked about the progress of Waymo and his vision was inspiring to hear. He leaves an extraordinary business and philanthropic legacy and was instrumental in mentoring and developing modern business leadership in India.
'India has the capital to invest in defence production.' 'With clear timelines and commitments, private industry can deliver surge capacity effectively.'
'One has to be very mindful because it will be applicable for big tech platforms and even for banks and insurers, whose business is completely different.'
As part of Prime Minister Manmohan Singh's State visit to the United States on November 24, India and the US are planning to announce the convening of an India-US Education Council on the lines of the US-India Business Council, Human Resource Minister Kapil Sibal has disclosed.
'The heat shield technology for re-entry vehicles was first mastered in DRDO for the Agni missile.' 'This is why the Americans were so opposed to Agni in the 1980s, unlike other missiles -- it was a re-entry vehicle.'
The decision to hike US H-1B visa application fee to $100,000, trade talks and the GST rate cut will be the key drivers for stock market movement this week, analysts said.
The USA's steep 50 per cent tariffs on Indian goods entering America will severely impact exports and job creation in labour-intensive export sectors such as shrimp, apparel, leather and gems and jewellery. Exporters said that the imposition of a 25 per cent penalty on India over and above the 25 per cent tariffs move will disrupt the flow of Indian goods to its largest export market.
'Every party want to contest more seats, nothing wrong in it. We have to compromise to take all together as the NDA.'
India abstained from a UN General Assembly vote on a resolution regarding Afghanistan, citing the need for a balanced approach that combines incentives and disincentives, and calling for new initiatives to address the humanitarian crisis.
The UN Security Council could meet soon to discuss the situation between India and Pakistan, with the UNSC President expressing concern over rising tensions between the nuclear-armed neighbors. The President, Ambassador Evangelos Sekeris of Greece, said a meeting would provide an opportunity to express views and help diffuse tensions. Sekeris also condemned terrorism in all its forms, including the recent attack in Pahalgam, and called for de-escalation and dialogue between India and Pakistan.
The edited sheep contains no foreign DNA, distinguishing it from transgenic organisms and paving the way for regulatory approval under India's evolving biotech policy framework.
Uttar Pradesh's leading export hubs are reeling under the impact of a steep 50 per cent tariff imposed by the US on Indian imports, with exporters warning of job losses, stalled orders and shrinking market access. Industry leaders from Noida, Kanpur and Varanasi said the tariff has put years of painstaking market-building at risk, even as protests and demonstrations erupted in several districts last week.
The next generation GST reforms would 'absolutely' set an economy open and transparent with further reduction in compliance burden and benefiting small businesses, Union Finance Minister Nirmala Sitharaman said on Tuesday.
India and the UK have respected each other's political sensitivities during the negotiations for free trade agreement, with New Delhi agreeing to drop its demand on post-study work visas for students in exchange for Britain withdrawing its request to open up legal services here, an official said on Wednesday.
Finance Minister Nirmala Sitharaman on Tuesday asked fintech firms to focus on risk management at a time when criminals are using AI to mimic voices, clone identities and create lifelike videos to manipulate people.
'Most of them (H-1Bs) are from one country, India, there's a cottage industry about how all those people make money off this system.'
'The way the attacks are coming has become much stronger and much wider because of AI.'
Reserve Bank of India (RBI) Governor Sanjay Malhotra, with Deputy Governors Poonam Gupta, Swaminathan J, T Rabi Sankar, and M Rajeshwar Rao, responded to a range of queries in the post-policy interaction with the media
Govt has taken corrective steps to revitalise investor enthusiasm, spur growth, and tame spending.
Former Russian President Dmitry Medvedev warned US President Donald Trump about the dangers of a 'dead hand' after Trump criticized Russia and India's close ties and their 'dead economies'.
"You have seen that in Islam, it is said that they oppose 'bootparastee' (idol worship). It is their matter and their philosophy. We perform idol worship. We worship the 'saakaar brahma' and the 'niraakaar brahma', which is allowed by the Sanatan Dharma.... Some are saying 'I Love Mohammad' and indulging in arson and vandalism." "They know that this is Sharadiya Navratra, the occasion of Vijaya Dashami. If they spread chaos during the Sharadiya Navratra, work like 'Chundd' and 'Mundd', then Goddess Bhagwati is not going to tolerate it. Goddess Bhagwati crushes such 'Chundd' and 'Mundd'," Adityanath said.
Gross GST collection increased 7.5 per cent to about Rs 1.96 lakh crore in July on higher domestic revenues and taxes from imports. Gross Goods and Services Tax (GST) mop-up was Rs 1.82 lakh crore in July 2024. Last month, the collection was Rs 1.84 lakh crore.
'We will be able to anticipate the full picture of the impact after August, which is also the time when demand for a year begins to peak ahead of the December holidays and Valentine's Day.'
'It was like rigorously preparing for a solid, good exam...' 'I don't know what marks I will get, but I felt the rigorous preparation of an exam.' 'You may sweat, but I feel rejuvenated.'
Massive new opportunities are opening up for building roads, bridges and other infrastructure facilities for UK businesses in India, UK-India Business Council chairperson Patricia Hewitt said.
'The government is distributing land in Ladakh as if they are selling cinema hall tickets.'
'That combination of a rising economy, a growing middle class, and a deepening love of diamonds and jewellery is what we see really doubling the market for diamonds over the next five years.'
For the first time, the Data Security Council of India assembled a joint task force to source threat intelligence at the origin and ensure coordinated action across the cybersecurity spectrum.
The Goods and Services Tax (GST) Council, scheduled to meet on June 22, could take a call on ending uncertainty on taxing foreign airlines and shippers as regards certain services, a senior official in the know told Business Standard. He said the Council was expected to decide on exempting the services in question from GST - aircraft lease rentals, maintenance, crew salaries, etc. These services are provided by foreign airlines to their Indian operations.
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.
'Trump's sons, and the son of Trump's Mideast envoy Steven Witkoff, are in the crypto business and recently signed deals with Pakistan's crypto council.' 'It may not be coincidental that not long before the Trump-Munir meeting, the head of Pakistan's crypto council met with Trump's White House crypto policy czar.'
