The Indian technology services outsourcing sector, valued at $283 billion, derives over 60% of its earnings from US. (AI image) India’s IT sector is worried about the possible imposition of tariffs on software exports to the US by the Donald Trump administration. The IT sector is already experiencing challenges due to worldwide economic uncertainties and … Read more
US president Donald Trump said on Friday he will always be friends with Prime Minister Narendra Modi, calling India-US relations a “very special relationship” and adding that there is “nothing to worry about” in the ties between the two countries. However, Trump also expressed concern over some of Modi’s current actions. He told ANI, “I … Read more
India, the world’s fastest growing major economy, is preparing to bear the brunt of US President Donald Trump’s trade war and 50% tariffs. In this backdrop, the Goods and Services Tax (GST) rate cuts couldn’t have come at a more opportune time.While FM Nirmala Sitharaman has clarified that the GST rate cuts had been in … Read more
Enzeme Biosciences is a biotech subsidiary of Alkem. It has announced a new manufacturing facility in the US with an investment of $70 million. The decision also aligns with President Trump’s call asking pharma companies to boost local manufacturing and generating employment. At present, Enzene has hired 50 people and aims to take a total … Read more
Prime Minister Narendra Modi on Wednesday hailed the next-generation GST reforms, which he said would improve the lives of citizens and ensure ease of doing business for all, especially small traders and businesses.”During my Independence Day Speech, I had spoken about our intention to bring the Next-Generation reforms in GST. The Union Government had prepared … Read more
The GST Council on Wednesday decided to exempt life and health insurance premiums for individuals from Goods and Services Tax (GST). Until now, policyholders were paying an 18% GST on premiums, a levy that had long been a point of contention for the insurance industry. The exemption comes into effect on 22 September. The move … Read more
Ukraine’s deal to give the US sweeping rights to natural resources projects is advancing as both sides launch operations of a fund that the Trump administration demanded in return for further support for the war-torn country, Ukraine’s economy minister said. “The fund is progressing very nicely,” Ukrainian Economy Minister Oleksii Sobolev told Bloomberg TV Friday … Read more
India is set to increase its imports of Russian oil in September, dealers told Reuters, as President Donald Trump-led US government on Wednesday doubled tariffs on Indian exports to 50%, citing New Delhi’s continued reliance on Moscow’s crude.Despite the pressure, Indian refiners are expected to raise purchases by 10-20% from August levels, or about 150,000–300,000 … Read more
The Commerce Ministry will hold a series of meetings this week with exporters from various sectors, including chemicals, gems and jewellery, to discuss ways to boost exports to new markets to shield industries from the steep 50 per cent US tariffs on Indian goods, an official said on Wednesday. The official also said work is … Read more