Japanese shipping giant Mitsui O.S.K. Lines is exploring local tanker-building partnerships to support India’s plan to reduce reliance on foreign shipping by a third by 2047. This aligns with the government’s ₹25,000 crore maritime development fund announced in the February budget, aimed at bolstering domestic shipbuilding and repair industries. This collaboration could catalyze India’s shipbuilding […]
Indian stock indices edged higher as Infosys revealed plans to consider a share buyback on September 11, boosting the IT sector by over 2%, with Infosys itself surging more than 4%. Positive sentiment was further spurred by expectations of a U.S. interest rate cut and the recent GST tax cuts, which are expected to buoy
India’s Goods and Services Tax (GST) continues to evolve as the government works toward simplifying compliance, easing the burden on taxpayers, and strengthening economic growth. Finance Minister Nirmala Sitharaman recently emphasized that the latest round of GST reforms will not only streamline processes but also act as a catalyst for boosting consumption and the overall
Even as India remains among the world’s fastest-growing economies, foreign investment inflows remain subdued. Experts cite structural issues and policy bottlenecks as major deterrents for global investors. The imbalance between growth potential and capital inflows raises concerns about India’s ability to attract adequate foreign capital. Addressing this will require reforms to instill confidence through policy
India’s Chief Economic Adviser, V. Anantha Nageswaran, has warned that newly imposed 50% U.S. tariffs on Indian exports might shave 0.5–0.6% off India’s GDP in the current financial year. He emphasized that the risk could deepen if the tariffs remain longer. Despite this headwind, robust growth in Q1 and supportive domestic policies help retain the
In a significant move towards strengthening India’s indirect tax system, Union Finance Minister Nirmala Sitharaman has written to State Finance Ministers, expressing her gratitude for their cooperation and contribution to the ongoing Goods and Services Tax (GST) reforms. Since its rollout in 2017, GST has been a landmark reform in India’s taxation structure, aimed at
India’s Goods and Services Tax (GST) journey has been nothing short of transformative. Introduced in 2017 as GST 1.0, it replaced a complex web of indirect taxes with the principle of “One Nation, One Tax.” Fast forward to September 2025, Finance Minister Nirmala Sitharaman rolled out GST 2.0, a historic reform that simplified tax structures
The Union Finance Minister Nirmala Sitharaman has announced a major reform in India’s Goods and Services Tax (GST) structure, calling it the “Next-Gen GST”. This historic revamp simplifies the earlier four-tier tax system (5%, 12%, 18%, 28%) into just two standard rates—5% and 18%—along with a 40% demerit rate for luxury and sin goods. The
Tamil Nadu Finance Minister Thangam Thennarasu has stressed the need for the Union Government to safeguard the fiscal autonomy and revenue stability of States while rationalising the Goods and Services Tax (GST) structure. Balancing Reform with Fiscal Federalism The Centre is exploring options to rationalise GST rates to simplify the indirect tax system and boost
Indian Leather Industry: 80% of Business Hinges on Exports—Here’s What’s Driving the Surge India’s leather and footwear sector stands as a global powerhouse—exporting nearly 80% of its production, making it a critical pillar of the economy. In the fiscal year 2024–25, export revenues soared by 25% year-on-year to reach US $5.7 billion (approx. ₹48,667 crore),
