United States contributed approximately $32 billion in remittances to India in 2023-24. (AI image) US remittance tax relief on the cards! Non-Resident Indians or NRIs have reason to breathe a sigh of relief as the final draft of the ‘One Big Beautiful Bill Act’ proposes just 1% tax on remittances, as against 3.5% earlier. Originally,…
The Ministry of Power on Saturday announced the formation of a task force to develop the India Energy Stack (IES)—a unified digital public infrastructure aimed at transforming India’s power sector with secure, standardised, and interoperable systems.Power Minister Manohar Lal Khattar said the IES will be instrumental in integrating renewable energy, boosting DISCOM efficiency, and ensuring…
SoftBank-backed Meesho has secured shareholders’ approval to raise up to Rs 4,250 crore via an initial public offering, according to the company’s regulatory filing.The resolution for the IPO was passed at the Extraordinary General Meeting held on June 25, the filing by the e-commerce firm stated, as reported PTI.As per the filing dated June 27,…
Bangladesh has paid $384 million to Adani Power this month, significantly reducing its outstanding dues under a 2017 power supply agreement with the Indian company, according to sources.As of June 27, Bangladesh has paid $384 million of the committed $437 million scheduled for the month. Sources said this amount clears the country’s “admitted” dues till…
Accelerating the rollout of plug-and-play industrial parks, improving logistics infrastructure, and targeted skilling are essential for boosting India’s manufacturing output and self-reliance, according to real estate consultancy Cushman & Wakefield.In its latest report, Elevating India’s Manufacturing Resilience: Charting the Path to Self-Reliance, based on responses from 94 senior decision-makers across India’s manufacturing and logistics sectors,…
Mahanadi Coalfields Ltd (MCL), a subsidiary of Coal India Ltd, will begin operations in two new coal mines in Odisha’s Talcher coalfield area by FY 2029-30, adding 35 million tonnes (MT) to its reserves, a senior company official said on Friday.“We are going to start operation of the Subhadra coal mine having a reserve of…
Elon Musk-owned Starlink is poised to receive its final regulatory approval to launch satellite communication services in India, with space regulator IN-SPACe issuing a draft authorisation document for the company to sign. Once completed, the Indian National Space Promotion and Authorisation Centre will countersign the document, effectively clearing the way for Starlink to begin operations.The…
Standard Chartered Bank (Image credits: IANS) Credit growth in the economy is influenced more by overall economic activity than by the size of the liquidity surplus, according to a recent report by international bank Standard Chartered.The report said that while a high liquidity surplus may support growth in unsecured personal loans (excluding consumer durable loans),…
MUMBAI: The IPO segment of the market is back to its glory days again. On Friday, the Rs 12,500-crore maiden offer for HDB Financial, an arm of HDFC Bank, was subscribed nearly 17 times with the total demand worth almost Rs 1.6 lakh crore. The IPO is set to become India’s most sought after large…
The Kolhapuri chappals received GI designation on December 11, 2018. Prada, the Italian high-end fashion brand, has confirmed that their upcoming Spring Summer 2026 menswear line incorporated designs influenced by Kolhapuri chappals, addressing the controversy that caused significant displeasure in India and sparked discussions about cultural appropriation. The leather sandal with open toes presented by…
