As the world continues to innovate and integrate artificial intelligence (AI) technology into society, concerns surrounding its ethical implementation have arisen. At the recently held Group of 20 (G20) summit, global leaders engaged in discussions about how to utilize AI for economic development while promoting human rights and protecting society’s best interests.   Prime Minister Narendra Modi, who hosted the summit, suggested the creation of a “human-centric” framework for AI governance, highlighting the importance of […]

Promoting an Inclusive and Sustainable World Order   Shifting Power Dynamics: A Challenge to the Western-dominated Status Quo Two recent international forums, the BRICS Summit held in South Africa and the G20 Summit in India, have sparked global intrigue by positioning themselves as representative voices of the Global South, comprising developing countries. Implicit in this representation is a political and ideological opposition to the prevailing Western-dominated world order, seeking to establish equal footing for all […]

Reporting Foreign Stocks in ITR: Clarification Needed   Different Reporting Periods and Tax Collection Discrepancies Taxpayers in India are required to report foreign investments in their income tax return (ITR) according to the calendar year, unlike other disclosures that follow the financial year. However, this has created confusion and discrepancies when it comes to claiming refunds for tax collection at source (TCS) on foreign stocks. Need for Proper Reporting and Refund Claims For the assessment […]

Saudi Arabia and India Enhance Investment and Trade Relations   Saudi Plans to Establish Sovereign Wealth Fund Office in GIFT City Saudi Arabia has expressed its intention to set up an office for its sovereign wealth fund (SWF) at Gujarat International Finance Tec-City (GIFT) in India. This move aims to facilitate investments between the two countries and strengthen economic ties.   Indian Investment Office to Open in Riyadh In response, India has announced plans to […]

India and Saudi Arabia Explore Local Currency Trading India and Saudi Arabia have initiated discussions on trading in national currencies, moving towards a collaboration that will strengthen bilateral economic ties. During the visit of Saudi Crown Prince Mohammed bin Salman, officials from India’s Ministry of External Affairs confirmed that the idea is currently in the discussion stage.   Progress in Currency Trading Ausaf Sayeed, secretary in the ministry, mentioned that discussions have either begun or […]