The RBI had asked payment firms to ensure their data is stored exclusively on local servers, making it one of the few countries with the strictest data localisation rules.
Private consumption accounts for more than half of India’s GDP but was dampened by demonetisation and the introduction of a chaotic tax structure last year.
Mini deal will likely see no cut in 10% baseline tariff on Indian exports announced by Trump on 2 April, it is learnt, but additional 26% tariffs are set to be reduced.
India-Russia JV is also racing to deliver 7,000 more AK-203 assault rifles by 15 Aug. These are currently being made with 50% indigenisation and this will surge to 100% by 31 December.
Public, loud, upfront, filled with impropriety and high praise sometimes laced with insults. This is what we call Trumplomacy. But the larger objective is the same: American supremacy.
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