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.
Trump's goal of ending the Iranian nuclear programme cannot be accomplished without overthrowing the Islamic regime in Iran, which is likely not possible without a ground invasion.
This special edition of Cut The Clutter, straight from the Siliguri corridor, details the strategic importance of the narrow strip of land in West Bengal, and how it’s a vital link connecting the Northeast to the rest of India.
American objectives are unmet. They neither have muscle nor motivation to resume the war. As for Iran, the regime didn’t just survive, it’s now led by more radical individuals.
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