Tag Archives: india

In a strategic realignment of its payment services, Google has announced the discontinuation of Google Pay in the United States, while ensuring uninterrupted service for users in India and Singapore. The decision, communicated through an official blog post on Thursday, reflects Google's commitment to enhancing its payment ecosystem and optimizing user experience.

In a significant projection, investment banking firm Jefferies has forecasted that India is on track to become the world's third-largest economy by 2027, overtaking economic powerhouses like Japan and Germany. According to Jefferies, India's GDP is poised to reach $5 trillion within the next four years, and the country's economic trajectory suggests it will nearly double to nearly $10 trillion by 2030.

In a significant shift, India is gearing up to invite private investments totaling approximately $26 billion into its nuclear energy sector, aiming to bolster its non-carbon emitting energy sources. According to two government sources cited by Reuters, this move marks the first instance of New Delhi actively pursuing private funding for nuclear power, which currently contributes less than 2% to India's total electricity generation.

India's Unified Payments Interface (UPI) services made their debut in Sri Lanka and Mauritius on Monday, marking a significant milestone in the digital financial landscape of the region. The virtual inauguration ceremony witnessed the participation of Prime Minister Narendra Modi, Mauritian Prime Minister Pravind Jugnauth, and Sri Lankan President Ranil Wickremesinghe.

In a recent move, India has announced an increase in the windfall tax on petroleum crude, raising it to ₹3,200 per tonne from the previous ₹1,700, effective from Saturday. However, the windfall tax on diesel and aviation turbine fuel remains unchanged at zero, according to a statement released by the government on Friday.

In a recent diplomatic development between India and the Maldives, the two nations have reached a consensus on "mutually workable solutions" regarding the presence of Indian troops in the archipelago. The meeting held in the Indian capital addressed a range of issues related to bilateral cooperation, including the ongoing development cooperation projects.

In a significant development, Elon Musk's Starlink is on the brink of securing approval from the Indian government to launch its space-based broadband services in the country. Reports suggest that the Department of Telecommunications (DoT) is set to issue a Letter of Intent (LoI) to Starlink, with the approval anticipated in the next few days, potentially by early next week.

Prime Minister Narendra Modi welcomed esteemed leaders at the 10th Vibrant Gujarat Global Summit in Gandhinagar, Gujarat. The summit, focused on 'Gateway to the Future', celebrates two decades of the state's success in fostering growth and collaboration.

In the wake of escalating threats to cargo ships navigating the Red Sea, India faces a potential downturn in exports, signaling a looming economic impact. Recent incidents involving Houthi militants targeting vessels passing through the Red Sea have raised concerns among exporters, prompting a cautious approach.

India marks a significant milestone in its energy landscape as "first oil" production commences in the Krishna Godavari Deep-Water Block 98/2, located 30 kilometers off the coast of Kakinada in the Krishna Godavari Basin. Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, announced the commencement of oil extraction, heralding it as a substantial achievement for India's quest toward self-reliance under the "Atmanirbhar Bharat" campaign.