Prime Minister Modi, marking Independence Day, urged India’s talent to design and build jet engines for indigenous fighter aircraft, crucial for defence self-reliance under the Aatmanirbhar Bharat vision. This push comes amid delays in foreign engine deliveries, prompting India to seek co-development partnerships with Rolls-Royce, Safran, and a Japanese manufacturer.
Prime Minister Modi highlighted India’s renewed focus on semiconductor manufacturing during his Independence Day address, lamenting past missed opportunities. He announced the imminent arrival of a ‘Made in India’ chip and the establishment of six semiconductor units, with four already approved.
Prime Minister Modi announced upcoming GST reforms as a Diwali gift, promising a reduced tax burden. A group of state ministers will meet to discuss potential GST reductions for various products, with some opposing changes due to revenue concerns.
India’s goods exports rebounded in July, increasing by 7.2% to $37.2 billion, ending a two-month slump, while imports surged by 14.7%. This led to a widened trade deficit of $27.4 billion, despite a decline in petroleum product exports. The growth was driven by electronics, gems & jewellery, engineering goods, and pharmaceuticals, with overall exports exceeding…
This Independence Day, Indian companies are emphasizing self-reliance and national pride through various campaigns and product launches. Brands like Rasna, SolarSquare, and Pepperfry are showcasing indigenous products and supporting local industries. Tata Tea Premium is highlighting regional art forms, while Myntra is promoting emerging women’s ethnic wear brands, reflecting a growing trend of celebrating India’s…
US 30-year mortgage rates have dipped to 6.58%, a 10-month low, boosting homebuyer purchasing power amid a slow housing market. This decline, influenced by economic data and market expectations, has spurred a jump in mortgage applications, particularly for refinancing and adjustable-rate mortgages. Economists anticipate rates will remain above 6% for the year.
To curb financial fraud, the National Payments Corporation of India (NPCI) has directed banks and payment apps to discontinue peer-to-peer (P2P) ‘collect requests’ on UPI by October 1, 2025. This move eliminates a high-risk channel, reducing fraud by ensuring all P2P transactions are payer-initiated, requiring users to scan a QR code.
