On Friday, India announced an unexpected and deep cut in corporate tax rates, amounting to roughly $20 billion in reductions at the current size of the economy. The government slashed the corporate tax rate for Indian companies to 22 percent from 30 percent with effective tax rate lowered to 25.2 percent...
India to Raise $10 Billion in Sovereign Bonds
For the first time, India plans to raise $10 billion this year through sovereign bonds. India needs to fund domestic projects and its macroeconomic fundamentals are strong so the timing for this makes sense In her budget speech, minister for finance Nirmala Sitharaman said, "India’s sovereign external debt to GDP...
India to Ease FDI Rules for Local Sourcing in Single Brand Retail
whilePresenting her maiden budget early this month, India's Finance Minister Nirmala Sitharaman announced that FDI inflows into India have remained robust despite global headwinds. " While Global FDI f slid by 13 percent in 2018 to $1.3 trillion, India’s inflows remained strong at $64.37 billion and grew 6 percent over...
India's Most Powerful Woman Is Now Finance Minister: Nirmala Sitharaman
One of the fastest rising stars in India's cabinet is its new Finance Minister. She has western experience from her time in the United Kingdom and started out as the top spokesperson for the Prime Minister's party just 13 years ago. For the last two years she was responsible for...
India Inaugurates First Howitzer Factory
Prime Minister Narendra Modi launched the Armored Systems Complex developed by Larsen & Toubro (L&T) at Hazira near the town of Surat in Gujarat. This is the country’s first private facility where the K9 Vajra, self-propelled Howitzer guns, will be manufactured. Defense Minister Nirmala Sitharaman was also present at the...
U.S., India Strengthen Defense Cooperation
On December 3, 2018, Defense Secretary James N. Mattis welcomed India's Defense Minister Nirmala Sitharaman to the Pentagon for the fourth set of talks the two defense leaders have held this year. Both nations share "the same principles, values and respect for the rules-based international order," Mattis said at the...