India and the European Union have agreed to conclude a comprehensive free trade agreement by the end of this year, aiming to enhance bilateral cooperation in trade, technology, and defense.
The Appointments Committee of the Cabinet has approved the appointment of Tuhin Kanta Pandey, the current Finance Secretary and Secretary of the Department of Revenue, as the new Chairman of the Securities and Exchange Board of India (SEBI). He will assume the role for an initial term of three years, starting from the date he […]
The Indian government has conveyed to the International Monetary Fund (IMF) that reducing the fiscal deficit to approximately 3% of the Gross Domestic Product (GDP) presents significant challenges. This communication underscores the complexities involved in achieving such a fiscal target. In a recent report, both the IMF and the Indian government acknowledged the necessity
India has commenced exporting electronic components to China and Vietnam for the assembly of Apple products, marking a significant shift in the global supply chain dynamics. This development is a testament to the success of the ‘Make in India’ initiative, which aims to position the country as a manufacturing hub for high-quality electronic components. Leading
Union Minister for Electronics and Information Technology, Ashwini Vaishnaw, announced that India’s inaugural indigenous semiconductor chip is slated for production by 2025. This declaration was made during the ‘Global Investors Summit 2025’ in Bhopal, where Vaishnaw participated via video conference. Advancements in Semiconductor Manufacturing India has
Leading beverage manufacturers are contemplating legal measures in response to a government directive mandating the use of packaging bottles composed of 30% recycled food-grade rigid plastic by April 1. Industry giants such as Coca-Cola, PepsiCo, Bisleri, and Parle Agro express concerns over the feasibility of this timeline, citing insufficient infrastructure and recycling
Union Minister Ashwini Vaishnaw announced that the semiconductor plant in Assam’s Morigaon district has catalyzed the creation of a comprehensive ecosystem, drawing investment interests from multiple countries. Speaking at a session on semiconductors, the Minister for Railways, Electronics, and Information Technology highlighted that the establishment of the
The Income Tax Department is initiating a nationwide crackdown on approximately 40,000 taxpayers who have failed to deduct or deposit Taxes Deducted at Source (TDS) and Taxes Collected at Source (TCS) for the financial years 2022-23 and 2023-24. This initiative aims to address significant discrepancies in tax deductions and penalize repeat offenders. The Central Board […]
The Reserve Bank of India (RBI) has eased lending restrictions on non-bank financial companies (NBFCs) and microfinance institutions (MFIs) by lowering risk weights for bank credit. This move aims to boost lending capacity and support economic growth, reversing the slowdown observed after previous regulatory measures. In November 2023, the RBI had increased risk weights
Credit card spending in India increased by 10.8% year-on-year to ₹1.84 trillion in January 2025, according to data from the Reserve Bank of India (RBI). Despite this annual growth, spending showed a slight decline compared to the previous month. The rising usage of credit cards highlights growing consumer confidence and a shift towards digital transactions. […]
