BUSINESS
Indian Domestic Software Market Projected to Reach $100 Billion by 2035: Report
Driven by AI automation, low-cost software development, growing SMBs adoption, and widening government digitization programs, this unprecedented boom will take shape, according to SaaSBoomi and 1Lattice findings.
Centre Scraps Gold Monetisation Scheme, Retains Short-Term Deposits
Clarifying in an official statement, the Ministry of Finance said while the banks will no longer be taking deposits under these two segments after the deadline date, they can still extend Short-Term Gold Deposits (1-3 years) under the scheme.
Government Plans to Scrap 6% ‘Google Tax’ Amid US Tariff Pressure
Of the 35 amendments to the Finance Bill, 2025, the Centre proposes to end the 6 per cent equalisation levy (EL) on digital advertisements from April 1, 2025. The levy, which came into force in 2016, is charged on payments in excess of ₹1 lakh annually made to overseas services providers for online advertisements.
India Faces New US Tariff Worry as Trump Warns of 25% Duty on Venezuelan Oil Buyers
"Venezuela has been very unfriendly to the US and to the freedoms we represent. Because of this, any nation that purchases oil or gas from Venezuela will have to pay a 25% tariff on trade with our nation. This will be formally recorded and implemented from April 2," Trump stated in a social media announcement.
India's Electronics Exports on Track to Exceed ₹3 Lakh Crore This Fiscal
Latest statistics for the sector have shown electronics exports at ₹2.87 lakh crore over 11 months through February from April, posting a stunning 35% expansion compared to ₹2.11 lakh crore between April and February last year in FY24.
PLI Scheme for Specialty Steel Secures ₹17,000 Crore in Investment Commitments
Union Steel Minister HD Kumaraswamy highlighted the scheme's contribution to curbing imports of high-grade specialty steel and increasing domestic production. "India is the second-largest producer and consumer of steel, but we import some high-grade varieties. The PLI scheme is aimed at filling this gap and encouraging self-reliance," he said.
Sensex Surges Past 78,000 at Open as Market Rally Continues
Market analysts observed that Nifty's consistent momentum indicates a V-shaped recovery, with bull forces dominating bear trends and taking the index near its earlier peak of the 23,800 level.
SEBI Increases Disclosure Limit for FPIs to ₹50,000 Crore
The regulator said that this change was required because there has been a sharp increase in trading volumes in the cash equity market. As the earlier threshold was determined in FY 2022-23, market trading volumes have increased more than two times.
India's Manufacturing Sector Sees Strong Growth and Increased Hiring in March: HSBC
The HSBC Flash India Composite Output Index was unchanged at 58.6 in March, marginally below February's final reading of 58.8. The figure for March was still comfortably higher than the long-run average of 54.7, though, indicating still strong growth.
India Needs to Shift from Service-Based to Product-Based Industry Model: NITI Aayog
He said this during a national workshop organized recently in GIFT City, Gandhinagar, Gujarat, with the aim of making India's innovation ecosystem robust.
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