India’s economic growth is proving to be sustainable
In April, India’s economy demonstrated strong expansion, driven by significant contributions from both the services and manufacturing sectors. Recent insights from HSBC Holdings Plc provide a snapshot of the economy’s current state, showing promising trends across key sectors. Current Trends in Economic Indicators The Services Purchasing Managers’ Index (PMI) increased slightly to 61.7 from 61.2 […]
India continues to be shady, gets into currency manipulation
Ah boy. India faces allegations for the third time this year of intentionally selling off US dollars to prevent a drop in its currency value, according to a recent report by Reuters. This manipulation led to a dramatic swing in the Indian rupee, which hit a record low of 83.61 against the dollar this week, […]
U.S. and India’s friendship gets serious – Where does this leave BRICS?
Looks like India’s been sneaking away from the BRICS playground and cozying up to the U.S. for a while now. Guess who called it? Yep, everyone with two eyes and a newspaper. Economic trends are flashing signs all over the place, with both Uncle Sam and India pumping up the momentum. And yep, that could […]
Indian crypto traders get a tax break from KuCoin – What it means
Man, things just got really interesting for Indian traders. KuCoin just announced a major update effective April 10th – a 1% Tax Deductible at Source (TDS) on the proceeds from Virtual Digital Assets (VDA) transactions. This has the Indian crypto community sitting up and taking notice. The tax deducted will find its way to the […]
India empowers non-payment operators to offer CBDC wallets
Reserve Bank of India (RBI) has announced an expansion of wallet providers of its Central Bank Digital Currency (CBDC) wallet. The statement from the bank notes that it will empower non-payment operators to offer wallet services of its CBDC. The bank said that it will make the needed changes to effect this as the initiative […]
Indians are using blockchain to verify election reports
The digital era has given us a lot to be thankful for, but let’s not fool ourselves, it’s also opened up a Pandora’s box of digital deception faster than you can say “fake news.” Luckily, some folks are stepping up to bat in the fight against misinformation, especially when it’s about something as critical as […]
DRIFE Web3 decentralized ride hailing platform integrates with SUI Blockchain
DRIFE, a Web3 Mobility infrastructure provider, and the first ride-hailing decentralized application to operate in India and the UAE, has announced its integration with Sui, a Layer 1 smart contract platform and Blockchain. DRIFE with this move, aims to offer a seamless, simplified onboarding process for ride hailing users and ecosystem partners. The migration of […]
Is India really leaving BRICS? – Here is what we know
The whispers of India potentially exiting the BRICS bloc have swelled into a roar. Given the bloc’s ambitions to widen its embrace, it’s ironic how tensions within its original fellowship hint at a splintering tale. The focal point? India’s subtle yet noticeable drift away from this collective, opting instead to warm up to the West. […]
Is India planning to break away from the BRICS? For U.S.?
When whispers and headlines clash, the sound can be deafening, especially when it’s about India potentially stepping away from its BRICS buddies, looking towards the U.S. with a glint in its eye. This isn’t some spicy piece of gossip; it’s a multi-layered saga of economics, international relations, and the ever-compelling drama of geopolitics. A Crude […]
KuCoin becomes India’s first FIU-compliant global crypto exchange
Taking us all by surprise, KuCoin has been named the first-ever global cryptocurrency platform to meet the strict compliance standards set by the Financial Intelligence Unit—India (FIU-IND). This regulatory body, a very powerful arm of the Department of Revenue within the Indian Government, is tasked with gathering financial intelligence related to offenses under the Prevention […]
India’s crypto regulations push OKX to cease local services
The cryptocurrency exchange OKX has announced it will halt its operations in India. This decision follows closely on the heels of increased regulatory scrutiny from India’s Financial Intelligence Unit (FIU). In a notice dated March 21, OKX communicated to its Indian users the need to close their accounts and withdraw funds by April 30. The […]
India’s finance minister says crypto cannot Be recognized as legal tender
India’s Finance Minister Nirmala Sitharaman, speaking at the India Today Conclave 2024, made clear the government’s position on cryptocurrencies, emphasizing that they cannot be considered as currencies. This statement aligns with the longstanding view that while digital assets can be utilized for purposes such as trading, speculation, and profit-making, they do not meet the criteria […]
India Carves Niche for Startups in AI Development Landscape
India has implemented a new advisory regarding the deployment of artificial intelligence (AI) tools and generative AI models, requiring large companies to seek government approval before releasing them to the public. The Ministry of Electronics and Information Technology (MeitY) issued the directive, emphasizing the importance of preventing bias, discrimination, and threats to the integrity of […]
Indian Government Issues Advisory to AI Companies Ahead of General Elections
The Indian Ministry for Electronics and Information Technology has issued a significant advisory to companies operating Artificial Intelligence (AI) platforms ahead of the general elections scheduled for later this summer. The advisory primarily targets generative AI platform-owning companies, including industry giants like Google and OpenAI, instructing them to ensure that their services do not produce […]
BRICS nations explore creation of new currency unit to counter US Dollar dominance
The BRICS alliance, comprising Brazil, Russia, India, China, and South Africa, is reportedly exploring the development of an alternative currency. This initiative aims to reduce the bloc’s dependency on the US dollar and promote the use of local currencies in international trade. With an eye on the future, the alliance also encourages other developing nations […]
BRICS officially starts work on common currency
It’s no secret that the fast-growing BRICS has been exploring the idea of creating their own shared currency for quite some time now. But we’re now hearing talks that the bloc has officially started working on. If you ask me, I’d say yeah, it’s about time. Now let’s take a closer look at what they’re […]
India Makes a Bold Leap in AI with the Launch of Hanooman Series
In an ambitious move that positions India more prominently on the global AI map, Reliance Industries, in collaboration with leading engineering institutions, has announced the launch of the Hanooman series. This suite of Indic language models, developed in partnership between Seetha Mahalaxmi Healthcare (SML) and the BharatGPT ecosystem, marks a significant step forward in nurturing […]
India’s AI Market Set to Reach $17 Billion CAGR by 2027
The Indian AI market is experiencing a boom, with experts predicting it to reach a staggering $17 billion in compounded annual growth rate (CAGR) by 2027. Indian AI Market to Soar to $17 Billion According to the report Tuesday by Nasscom in partnership with BCG, the growth of the Indian AI market will be fueled […]
India says there are 30 countries in line to join BRICS
The BRICS bloc stands as a beacon for developing nations seeking to fortify their economic sovereignty. At the forefront, India has recently made a bold announcement that encapsulates the growing allure of this coalition. According to India’s Foreign Affairs Minister, S Jaishankar, an impressive lineup of nearly 30 countries is poised at the gates, ready […]
India’s Narendra Modi stresses international unity against cyber threats
Indian Prime Minister Narendra Modi has made a compelling call for international cooperation to address contemporary challenges, with a specific focus on cyber threats and cryptocurrencies. Speaking at the Commonwealth Legal Education Association and the Commonwealth Attorneys and Solicitors General Conference 2024 held at Vigyan Bhawan in New Delhi, Modi emphasized the imperative of unified […]
India and Russia to build their very own digital economy
Strap in folks, because India and Russia are upping the ante in the global digital chess game. They’re not just playing around; they’re strategizing to carve out their very own niche in the digital economy. This isn’t just another diplomatic handshake; it’s a power move in the tech world. Digital Power Play Let’s cut to […]
India and Iran promise to get closer for BRICS sake
The dawn of 2024 marks a turning point in the landscape of international alliances, particularly within the BRICS bloc. India, a nation known for its strategic partnerships and robust economic growth, is now entering a new phase of cooperation with Iran. This alignment, far from being a fleeting diplomatic gesture, is a calculated move within […]
Russia, India planning something that would shake the world
Amidst a dynamic global landscape, two major powers, Russia and India, are reportedly brewing a strategic concoction that could redefine world economics and geopolitics. This development comes as the leaders of these influential nations held an extensive telephonic discussion, navigating a plethora of strategic partnerships and future initiatives. The talk, characterized by its depth and […]
The economic upside of India reducing crypto tax
In the virtual corridors of X (formerly known as Twitter), a formidable movement is gaining momentum – #ReduceCryptoTax. This is the voice of the Indian crypto community, a clarion call to the nation’s Finance Ministry. In this digital age, hashtags have transcended their role as mere metadata tags, morphing into powerful tools of advocacy and […]
Google Follows Apple in Removing Cryptocurrency Apps Amidst Indian Government Crackdown
In a bold move echoing Apple’s recent action, Google has taken a stance against cryptocurrency platforms in India by removing several of them from its Play Store. The affected giants in the crypto world, including Binance and Kraken, were singled out, and the timing coincides with growing pressure from the Indian government on digital asset […]
India bans foreign cryptocurrency exchanges, tightening regulations
In a significant move, India has implemented strict measures to ban foreign cryptocurrency exchanges from operating within its borders, citing concerns related to money laundering and non-compliance with anti-money laundering laws. The ban, which took effect on January 12, 2024, involves blocking access to the websites of several prominent global crypto platforms, including Binance, KuCoin, […]
Binance’s Challenging Phase in the Indian Cryptocurrency Market
Binance has hit a significant roadblock in the Indian market. The catalyst for the downturn was the Indian Financial Intelligence Unit’s (FIU) stringent stance on offshore crypto exchanges. The FIU’s demand for compliance with India’s anti-money laundering laws has led to a noticeable shift, with Indian traders moving away from the company’s platform. The development […]
India vows to make sure Pakistan never joins BRICS
India, a prominent member of the BRICS alliance, has emphatically voiced its opposition to Pakistan joining the group. This development has added another layer of complexity to the already intricate geopolitical landscape. The history of India and Pakistan, mired in decades of conflict since the 1947 partition, casts a long shadow over this decision. India’s […]
BRICS’ India and UAE forge a $3b pact – What it means
Marking a significant milestone in global diplomacy, India and the United Arab Emirates (UAE) have recently inked a groundbreaking $3 billion agreement. This monumental development is not just about the colossal sum; it symbolizes the burgeoning synergy between the two nations, especially poignant as the UAE celebrates its new membership in the BRICS alliance. The […]
Indian crypto firms migrate to Dubai amid favorable laws
In a significant shift within the crypto industry, Indian cryptocurrency companies are increasingly relocating their operations to Dubai. This move is largely attributed to the contrasting regulatory landscapes in India and the United Arab Emirates (UAE). India’s stringent tax laws and uncertain legal framework for digital currencies have been the primary catalysts driving this trend. […]
CoinDCX denies fraud claims amid Delhi police probe
In a striking development that has shaken the Indian cryptocurrency community, CoinDCX, a prominent crypto exchange, finds itself at the center of a controversy. Recent reports have surfaced about alleged bank fraud and unwarranted financial demands on its users, leading to an investigation by the Delhi Police. This news piece aims to provide a comprehensive […]
UAE, India finalize oil trade with rupees instead of dollar
India and the United Arab Emirates (UAE) have executed their first-ever oil trade using India’s rupee instead of the US dollar. This groundbreaking agreement reflects both countries’ commitment to abandon the dollar in bilateral transactions, marking a pivotal moment in the global financial landscape. This article delves into the details of this historic oil deal […]
India takes drastic measures against major crypto exchanges
In a landmark move, India has intensified its regulatory grip on the cryptocurrency market, targeting several prominent virtual digital asset service providers (VDA SPs). The Financial Intelligence Unit of India (FIU IND) has issued compliance Show Cause Notices to nine major offshore VDA SPs, signaling a decisive step in India’s approach to regulating the burgeoning […]
Indian engineer falls prey to deceptive crypto scheme
In a recent incident, a 53-year-old engineer from Bengaluru, India, suffered a significant financial loss due to a cryptocurrency investment scam. The engineer was deceived into investing Rs 95 lakh (US$114,230) in Bitcoin (BTC) by a scammer posing as a representative of a global investment firm. The deceptive scheme The scam began when the engineer, […]
India, Russia ditch US dollar in $40 billion trade deal
In a striking move signaling a shift in global trade dynamics, India and Russia have once again boldly sidestepped the US dollar, conducting an impressive $40 billion worth of trade using their local currencies. This monumental trade volume, achieved within just three quarters of 2023, marks a historic high in the economic collaboration between these […]
Can AI in Weather Forecasts Weather the Storm of Climate Change in India?
In a bid to confront the escalating challenges posed by erratic weather patterns, India is embarking on a groundbreaking initiative, leveraging the power of AI in weather forecasts, to integrate artificial intelligence into its weather forecasting systems. Torrential rains, floods, and droughts have become increasingly prevalent, necessitating a paradigm shift in how the country approaches […]
Is India really plotting a U.S. assassination?
Recent developments have thrust a critical question into the limelight of international politics: Is India, a nation known for its rich history and growing global influence, covertly orchestrating an assassination plot on American soil? This question isn’t just a matter of sensational headlines; it cuts to the core of the intricate and sometimes precarious dance […]
India signals potential veto on Pakistan’s BRICS membership bid
India has recently articulated its stance regarding Pakistan’s aspiration to join the BRICS (Brazil, Russia, India, China, South Africa) alliance. Arindam Bagchi, the spokesperson for India’s Ministry of External Affairs (MEA), addressed this topic during a press conference. While responding to queries about Pakistan’s intent to join BRICS, Bagchi’s statements suggested that India might exercise […]
Manipur leads India in adopting blockchain for academic credentialing
Manipur, a rapidly developing state in Northeast India, has recently embarked on a new initiative. The Manipur Department of Education, in collaboration with the DFINITY Foundation, a Swiss non-profit and a key contributor to the Internet Computer Blockchain (ICP), has announced the deployment of a unique educational product suite. This suite is designed to verify […]
India’s crypto regulation advances: 28 entities register with FIU
About 28 Virtual Digital Assets (VDA) or crypto service providers have officially registered with the Financial Intelligence Unit (FIU) in India, as confirmed by the Indian Minister of State for Finance, Pankaj Chaudhary. This move comes in the wake of regulatory measures aimed at integrating the burgeoning crypto market into the nation’s financial oversight framework. […]
