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 the UK Collaborate to Launch Infrastructure Financing Bridge   As two of the world’s most influential economies, India and the United Kingdom (UK) have made impressive strides in their collaborative efforts to advance key infrastructure projects. Recently, the two countries announced the launch of an infrastructure financing bridge, a promising partnership that aims to effectively plan and implement significant projects in India.   Strengthening Economic Ties During the 12th India-UK Economic and Financial […]

Shaping Global Data Governance: India’s Influence on the G20’s Digital Agenda   New Frameworks for Technology Governance   Introduction: The 2023 G20 Leaders Summit: Achieving Consensus and Productivity The 2023 G20 Leaders Summit accomplished an extraordinary feat. Within a short timeframe, Indian negotiators successfully reached a consensus on the Leaders’ Declaration, demonstrating their influence and efficiency. With over triple the output of previous presidencies, India’s G20 presidency emerged as the most productive thus far. In […]