Business
Dividends & Bonuses: Patanjali, HUDCO, IRCON, Cochin Among 138 Stocks To Trade Ex-Date This Week
Business
Indias Forex Reserves Rise $3.5 Billion To $694.2 Billion In Latest Week, Supported By Foreign Currency Assets, Gold
New Delhi: India’s foreign exchange reserves rose by USD 3.5 billion in the week that ended August 29 to USD 694.230 billion, driven largely by a rise in foreign currency assets and gold, the Reserve Bank of India (RBI) said in its latest ‘Weekly Statistical Supplement’.
The country’s forex kitty is hovering close to its all-time high of USD 704.89 billion touched in September 2024. For the reported week, India’s foreign currency assets (FCA), the largest component of foreign exchange reserves, stood at USD 583.937 billion, a rise of USD 1.7 billion.
The RBI data showed that the gold reserves currently amount to USD 86.769 billion, witnessing a rise of USD 1.8 billion. After the latest monetary policy review meeting, RBI Governor Sanjay Malhotra said the foreign exchange kitty was sufficient to meet 11 months of the country’s imports.
In 2023, India added around USD 58 billion to its foreign exchange reserves, contrasting with a cumulative decline of USD 71 billion in 2022. In 2024, the reserves rose by a little over USD 20 billion. So far in 2025, the forex kitty has cumulatively increased by about USD 53 billion, according to data.
Foreign exchange reserves, or FX reserves, are assets held by a nation’s central bank or monetary authority, primarily in reserve currencies such as the US Dollar, with smaller portions in the Euro, Japanese Yen, and Pound Sterling.
The RBI often intervenes by managing liquidity, including selling dollars, to prevent steep depreciation of the rupee. The RBI strategically buys dollars when the Rupee is strong and sells when it weakens.
Tata Motors Vehicles Price In India: Tata Motors on Sunday announced that it will pass on the entire benefit of the recent GST rate cut to its commercial vehicle customers. The new prices will be effective from September 22, the day the revised GST rates come into force.
“Tata Motors will pass on the full benefit of the recent GST reduction on its entire commercial vehicle range to customers, effective September 22, the date the revised GST rates come into effect,” the company said in a statement.
The price cuts will vary across different vehicle categories. Heavy commercial vehicles (HCVs) will see a reduction ranging between Rs 2.8 lakh and Rs 4.65 lakh. Intermediate, light, and medium commercial vehicles (ILMCVs) will become cheaper by Rs 1 lakh to Rs 3 lakh.
Buses and vans will see reductions between Rs 1.2 lakh and Rs 4.35 lakh. Small commercial passenger vehicles (SCVs) will get price cuts between Rs 52,000 and Rs 66,000, while SCVs and pickups will become cheaper by Rs 30,000 to Rs 1.1 lakh. The company said the GST on commercial vehicles has been reduced to 18 per cent, a move that it believes will help revive India’s transport and logistics sector.
Girish Wagh, Executive Director of Tata Motors, said the decision reflects the government’s commitment to strengthening the country’s economic backbone. He added that Tata Motors is proud to extend the full GST benefit to customers, ensuring lower costs and better access to modern vehicles.
Tata Motors highlighted that commercial vehicles play a crucial role in India’s growth by driving logistics, trade, and connectivity. With the GST reduction, the company expects the total cost of ownership for transporters, fleet operators, and small businesses to come down.
This will encourage faster fleet modernisation and wider adoption of advanced, cleaner mobility solutions, helping operators cut costs, improve efficiency, and boost profits. The company has also encouraged customers to book vehicles early to take advantage of the reduced prices during the upcoming festive season.
Business
Trump tariffs on India’s software exports? Why IT sector is worried – double taxation, visa tightening may deal a blow – The Times of India
India’s IT sector is worried about the possible imposition of tariffs on software exports to the US by the Donald Trump administration. The IT sector is already experiencing challenges due to worldwide economic uncertainties and the increasing adoption of AI-based automation, according to industry specialists.The US government’s potential consideration of extending tariffs to software exports has created significant concern within India’s information technology industry, as this could severely impact their operations in their main market.
Trump tariff fears: Why is Indian IT sector worried?
The implementation of tariffs on services exports by the US administration could result in dual taxation, as Indian software companies already contribute substantial tax payments in the United States, according to an ET report.Additional restrictions on visa regulations might lead to increased operational costs due to necessary local recruitment in the US or neighbouring regions.
Tech in trouble?
The Indian technology services outsourcing sector, valued at $283 billion and including companies such as Tata Consultancy Services, Infosys, HCLTech and Wipro, derives over 60% of its earnings from the United States, whilst maintaining its primary workforce in India.However, the US administration has not yet formally announced or indicated any such intentions. Concerns arose after Peter Navarro, the US President’s senior advisor for trade, shared a social media post on X suggesting the application of tariffs on all outsourcing and foreign remote workers.A US conservative commentator Jack Posobiec posted: “Countries must pay for the privilege of providing services remotely to the US the same way as goods. Apply across industries, levelled as necessary per country.”Such implementation would affect all technology service recipients who utilise services from India and similar nations.
Will Trump impose tariffs on IT?
Phil Fersht, CEO and chief analyst at HFS group, suggests that discussions about tariffs on India’s outsourcing sector represent more political messaging than actual policy intentions. Nevertheless, any outsourcing penalties would generate immediate uncertainty, increase operational costs and affect profit margins during an already challenging demand period, the ET report said.“Imposing duties on digital labour flows is far more complex than taxing goods crossing borders. The US depends heavily on India’s IT and engineering talent, whether onsite through H-1B visas or offshore through remote delivery, to keep its own technology economy competitive,” Fersht said.“In addition, several tech billionaire leaders exert significant influence over the Trump administration, and many of them are strongly pro-India because their global businesses depend heavily on Indian engineering talent, delivery capability and market access.”Yugal Joshi, partner at US-based technology consultancy and analyst firm Everest Group, was quoted as saying: “These companies pay significant taxes in the US and therefore, the tariff will be double taxation… It will further harm growth of India-based service providers and even GCCs, if they are tariffed too.”
Indias Forex Reserves Rise $3.5 Billion To $694.2 Billion In Latest Week, Supported By Foreign Currency Assets, Gold
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