Business

In a sweeping reform, the GST Council has rationalised India's tax structure by reducing four tax slabs to two—retaining only the 5% and 18% rates. While essential items like snacks and personal care products have seen a steep drop in GST, the rates on tobacco and sugary goods have been raised to 40%.

The BFS frontline staff face a perfect storm: attrition at historic highs, stagnant wages, and rising pressures from digital shift. Time RBI created a Productivity and Attrition Task Force for them

Economists say the 56th GST Council meeting, chaired by Finance Minister Nirmala Sitharaman, may result in a significant reform of the GST structure that could simplify the tax regime and lower prices. Experts believe the changes would boost household disposable income, increase demand, and drive consumption-led growth.

The India-EFTA Trade and Economic Partnership Agreement (TEPA) will take effect on October 1, Switzerland announced. The pact commits $100 billion investment over 15 years, ensures sustainable trade provisions, and offers India improved market access for Swiss goods and services

President Donald Trump criticized the US-India trade relationship as “one-sided,” citing high Indian tariffs on American goods. While acknowledging improved ties, he defended steep US tariffs. India called the measures “unjustified,” asserting its right to protect national economic interests

At the Semicon India 2025 event in New Delhi, industry leaders hailed India's growing semiconductor ecosystem, citing strong government support, rising local demand, and international collaborations as key drivers. The event also saw 12 MoUs signed to boost indigenous technologies and talent development.

Apple launched its first store in Bengaluru, Apple Hebbal, the company’s third outlet in India. Customers can explore iPhone 16, MacBook Pro M4, and other latest products. The store employs 70 staff from 15 states and operates on renewable energy

The Tata group company starts sending letters of increment to employees; hike to be applicable from September

The GST Council will review proposals to cut rates on over 150 products, including food, snacks, vehicles, and education supplies. The move aims to ease household spending, expand the zero-GST list, and simplify the current four-rate structure

Finance Minister Nirmala Sitharaman said the next generation of GST reforms will simplify compliance, benefit small businesses, and boost transparency. She praised banks for improved asset quality, noted record GDP growth, low inflation, and underlined trust, technology, and transparency as guiding principles

The Reserve Bank of India has approved the reappointment of former Deputy Governor R. Gandhi as Yes Bank’s part-time chairman from September 2025 to May 2027. Gandhi, a veteran central banker with 37 years’ experience, previously served in RBI, SEBI, and IDRBT

Prime Minister Narendra Modi announced that India is entering the next phase of its Semiconductor Mission, with 10 projects worth over USD 18 billion underway. He said the DLI scheme will be revamped as India aims for a major global chip market share

Peter Navarro, Trump’s top trade adviser, criticized Indian PM Modi’s display of unity with Russia and China at the SCO summit, calling it “troublesome.” He urged India to align with the US, Europe, and Ukraine instead of supporting Russia

As AI gets better at mimicking us, we must get better at being ourselves

Beyond the promise of 'the Elephant and the Dragon' coming together, the two countries still have major roadblocks to clear before they are able to engage meaningfully

UPI recorded over 20 billion transactions in August for the first time, marking 34 per cent annual growth. Daily transactions averaged 645 million, with Maharashtra leading in digital payments, highlighting India’s rising adoption of cashless transactions, according to NPCI and SBI data.

Gold prices hit a record high of ₹1,05,937 per 10 grams on MCX, driven by global bullish sentiment, festive demand, and US rate cut expectations. Comex gold also soared to a lifetime high, further fueling domestic market momentum

Trump’s policies towards India — from deportations, tariffs to siding with Pakistan — exposed the risks of overreliance on any one power

RSS leader Ramlal said India can convert the US 50 per cent tariff challenge into an opportunity. He urged self-reliance, adoption of swadeshi products, investor-friendly policies, and stronger law and order to attract industry and boost exports

India’s economy continues to grow robustly despite US tariffs, with domestic consumption driving 68% of GDP. Corporate investments, like Apple’s $2.5 billion India expansion, signal confidence, highlighting risks that Trump’s confrontational trade stance could weaken America’s long-term strategic and economic position.

The Enforcement Directorate seized luxury vehicles, cash, and jewellery in a money laundering probe linked to a ₹1,396 crore bank fraud involving Odisha-based businessman Shakti Ranjan Dash and his firms, allegedly tied to shell transactions with Himachal's Indian Technomac Company Ltd

India’s Department of Posts has fully suspended all mail to the U.S., including letters and gifts under $100, due to new U.S. regulations removing duty-free exemptions. The move follows carrier refusals amid unclear customs processes under the new tariff regime

India is formulating an action plan to counter a 50% US tariff hike impacting key exports, Economic Affairs Secretary Anuradha Thakur said. Despite fiscal deficit concerns, the government remains confident in achieving targets amid strong economic fundamentals and domestic demand growth

India’s new Online Gaming Act bans real-money games, raising concerns about jobs, revenue, and digital growth