Focus is also on Germany's growing outreach to India for labour workforce as well as Bengaluru’s first-generation wealth creators 'rethinking the role of the billionaire.'
War in Middle East can affect India’s strong growth, which IMF forecast at 6.4% earlier and also push inflation higher from 2.75% recorded in January, global media predicts.
Global media reports on how India’s remittance is tied to the now-troubled region & the war’s cascading effect on economy. J&K's maiden Ranji Trophy win also drew its attention.
India could consider countermeasures under the principle of reciprocity and tax outward remittances by US companies and foreign institutional investors that invest in Indian stock markets.
Since October 2023, foreign transactions above Rs 7 lakh under Liberalised Remittance Scheme have attracted a 20% tax collected at source. It’s sending a signal to big spenders abroad: we are watching you.
The high transaction cost on remittances amounts to an additional tax on cross-border movement of incomes. For 2023, roughly $41 billion was spent on just transaction costs.
India is expected to get $125 billion in 2023, up from 2022’s $111 billion. This inflow has caused South Asia’s share as a whole to rise, says the World Bank.
This is the first such for the South Asian nation that is the world's biggest recipient of remittances. Transfer of funds will now be possible using just mobile phones.
The IFSC regulator has approved banking regulations for IBUs. It has allowed resident Indians, with a net worth of not less than $1 million, to invest in IBUs.
As migrants workers from Asia's developing nations see opportunity drying up in job market, they are sending money home in advance of their own return.
The operating ideology that accessibility is unqualified good and that no peak should be beyond reach turns the mountains into something to be consumed rather than reckoned with.
Despite its new avatar, Kerala’s culture remains rooted in socialistic principles. Yet there is growing acceptance to ‘privatisation with participation', observers say.
Report on impact of AI emergence—drawing upon depositions from several ministries—confirms that the developments come in the absence of AI laws or considerations over them.
It’s easy to understand why the government can’t speak the hard truth. When this war ends, as all wars do, India’s interests will lie with both the winner and the loser.
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