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The State Bank of India (SBI) said on Tuesday that India's GDP is likely to grow by about 8.1 per cent in the third quarter of the current financial year (FY26), indicating strong growth momentum. The report noted that despite global challenges, the Indian economy has shown resilience, supported by strong domestic demand and consistent economic activity across multiple sectors.&nbsp;According to a report in the news agency ANI, the SBI said "we expect Q3FY26 real GDP growth of closer to 8.1 per cent". Based on the SBI report, high-frequency economic indicators point to steady economic activity during the third quarter of FY26. Rural consumption has also remained strong, supported by encouraging trends in both agricultural and non-agricultural activities.&nbsp;Similarly, urban consumption has slowly improved, aided by fiscal support and higher spending since the most recent festive season. The first advance estimates show India's GDP growth at 7.4 per cent in FY26, largely driven by domestic demand.<h3>FY26 GDP are scheduled for release on February 27, 2026</h3>The report underlined that household consumption remains a key pillar of economic growth, even as uncertainties persist in the global economy. It also noted that the second advance estimates for FY26 GDP are scheduled for release on February 27, 2026. These updated figures will include additional data and revisions, and GDP numbers for the first and second quarters are expected to be revised due to a change in the base year.&nbsp;India has refreshed its GDP base year, updating it from 2011-12 to 2022-23, including the new series scheduled for release on February 27, 2026. The report also indicated that it is very hard to predict the direction of revisions in the GDP data.&nbsp;The purpose of revising the base year is to better reflect the current structure of the Indian economy, that include changes such as the growing role of digital commerce and the services sector. Additionally, the base year for the Consumer Price Index (CPI) of India was updated to 2024, which will assist in a more precise measure of inflation based on current consumption patterns. &nbsp;Also read: <a href="https://www.wionews.com/india-news/what-happens-to-india-s-18-tariff-after-scotus-scraps-trump-reciprocal-duties-here-s-what-the-potus-said-nothing-happens-1771648834475">What happens to India’s 18% tariff after SCOTUS scraps Trump reciprocal duties? Here’s what the POTUS said</a>

The purpose of revising the base year is to better reflect the current structure of the Indian economy, that include changes such as the growing role of digital commerce and the services sector.

The State Bank of India (SBI) said on Tuesday that India's GDP is likely to grow by about 8.1 per cent in the third quarter of the current financial year (FY26), indicating strong growth momentum. The report noted that despite global challenges, the Indian economy has shown resilience, supported by strong domestic demand and consistent economic activity across multiple sectors. According to a report in the news agency ANI, the SBI said "we expect Q3FY26 real GDP growth of closer to 8.1 per cent". Based on the SBI report, high-frequency economic indicators point to steady economic activity during the third quarter of FY26. Rural consumption has also remained strong, supported by encouraging trends in both agricultural and non-agricultural activities. Similarly, urban consumption has slowly improved, aided by fiscal support and higher spending since the most recent festive season. The first advance estimates show India's GDP growth at 7.4 per cent in FY26, largely driven by domestic demand. FY26 GDP are scheduled for release on February 27, 2026 The report underlined that household consumption remains a key pillar of economic growth, even as uncertainties persist in the global economy. It also noted that the second advance estimates for FY26 GDP are scheduled for release on February 27, 2026. These updated figures will include additional data and revisions, and GDP numbers for the first and second quarters are expected to be revised due to a change in the base year. India has refreshed its GDP base year, updating it from 2011-12 to 2022-23, including the new series scheduled for release on February 27, 2026. The report also indicated that it is very hard to predict the direction of revisions in the GDP data. The purpose of revising the base year is to better reflect the current structure of the Indian economy, that include changes such as the growing role of digital commerce and the services sector. Additionally, the base year for the Consumer Price Index (CPI) of India was updated to 2024, which will assist in a more precise measure of inflation based on current consumption patterns. Also read: What happens to India’s 18% tariff after SCOTUS scraps Trump reciprocal duties? Here’s what the POTUS said

The purpose of revising the base year is to better reflect the current structure of the Indian economy, that include changes such as the growing role of digital commerce and the services sector.

India’s Q3 FY26 GDP growth is likely at 8.1% amid strong domestic demand: SBI

Russian oil exports may have dipped over the past year, but shipments remain higher than they were before Moscow launched its full-scale invasion of Ukraine in 2022, according to a new report released Tuesday (Feb 23). As per the report, of this, about 93 per cent of crude was exported to China, India, and Turkey.<h2>Russia's oil export continues unabashed</h2>An analysis by the Centre for Research on Energy and Clean Air, a Finnish think tank, found that crude export volumes in the fourth year of the war were still about six per cent above pre-invasion levels. That is despite multiple rounds of Western sanctions aimed at squeezing Russia's energy income and targeting its so-called 'shadow fleet'.Also read | <a href="https://www.wionews.com/india-news/what-happens-to-india-s-18-tariff-after-scotus-scraps-trump-reciprocal-duties-here-s-what-the-potus-said-nothing-happens-1771648834475">Will India still pay 18% tariffs after SCOTUS scraps Trump reciprocal duties? Here’s what the POTUS said</a>The shadow fleet refers to older tankers with murky ownership structures that are used to move oil outside the formal system, often bypassing European Union, US and G7 restrictions.<h2>Russia crude revenue falls</h2>According to AFP, even as the crude export volumes stayed relatively strong, compared with the previous year, the warring nation's earnings from crude exports fell 18 per cent to 85.5 billion euros in the 12 months leading up to February 24.Export volumes during the same period dropped six per cent to 215 million tonnes. However, China, India and Turkey accounted for 93 per cent of Russian crude exports during the period studied, the report said.Also read | <a href="https://www.wionews.com/world/moscow-rejects-us-claim-india-will-ditch-russian-oil-says-trump-trying-to-grab-right-to-dictate-to-independent-nations-1771464523183">Moscow blasts US claim India will ditch Russian oil, says Trump trying to 'grab right to dictate to independent nations'</a>Russia has been forced to offer discounts on its oil, cutting into profits that help finance the war effort."We've seen a significant drop in Russian fossil fuel export earnings as a result of new measures and greater enforcement," said Isaac Levi, a CREA analyst and co-author of the study. But he added that "there are still significant loopholes and areas that have been unaddressed by sanctioning countries" that allow large volumes to flow.Among the weaknesses identified are ships operating under false flags and the re-export of refined fuels made from Russian crude to countries that have imposed sanctions.CREA is urging tougher steps. "We propose a ban of imports from any refinery or storage terminal that has received a shipment of Russian oil in the previous six months," Levi said. &nbsp;

A new report by the Centre for Research on Energy and Clean Air says Russia’s crude exports remain about 6 per cent above pre-2022 invasion levels, with 93 per cent going to China, India and Turkey.

Russian oil exports may have dipped over the past year, but shipments remain higher than they were before Moscow launched its full-scale invasion of Ukraine in 2022, according to a new report released Tuesday (Feb 23). As per the report, of this, about 93 per cent of crude was exported to China, India, and Turkey. Russia's oil export continues unabashed An analysis by the Centre for Research on Energy and Clean Air, a Finnish think tank, found that crude export volumes in the fourth year of the war were still about six per cent above pre-invasion levels. That is despite multiple rounds of Western sanctions aimed at squeezing Russia's energy income and targeting its so-called 'shadow fleet'. Also read | Will India still pay 18% tariffs after SCOTUS scraps Trump reciprocal duties? Here’s what the POTUS said The shadow fleet refers to older tankers with murky ownership structures that are used to move oil outside the formal system, often bypassing European Union, US and G7 restrictions. Russia crude revenue falls According to AFP, even as the crude export volumes stayed relatively strong, compared with the previous year, the warring nation's earnings from crude exports fell 18 per cent to 85.5 billion euros in the 12 months leading up to February 24. Export volumes during the same period dropped six per cent to 215 million tonnes. However, China, India and Turkey accounted for 93 per cent of Russian crude exports during the period studied, the report said. Also read | Moscow blasts US claim India will ditch Russian oil, says Trump trying to 'grab right to dictate to independent nations' Russia has been forced to offer discounts on its oil, cutting into profits that help finance the war effort. "We've seen a significant drop in Russian fossil fuel export earnings as a result of new measures and greater enforcement," said Isaac Levi, a CREA analyst and co-author of the study. But he added that "there are still significant loopholes and areas that have been unaddressed by sanctioning countries" that allow large volumes to flow. Among the weaknesses identified are ships operating under false flags and the re-export of refined fuels made from Russian crude to countries that have imposed sanctions. CREA is urging tougher steps. "We propose a ban of imports from any refinery or storage terminal that has received a shipment of Russian oil in the previous six months," Levi said.

A new report by the Centre for Research on Energy and Clean Air says Russia’s crude exports remain about 6 per cent above pre-2022 invasion levels, with 93 per cent going to China, India and Turkey.

India remains key buyer of Russian oil as Moscow's crude exports stay above pre-Ukraine war levels: Report

As tensions simmer between Washington and Tehran, US President Donald Trump is weighing options that go far beyond diplomacy, suggest reports. The POTUS is reportedly considering "taking out" the nation's Supreme Leader Ayatollah Seyyed Imam Ali Khamenei, his son and the mullahs. Here's what we know.<h2>Trump to order Ayatollah's assassination?</h2>According to an Axios report citing multiple sources, Trump is considering multiple scenarios, including one that involves the assassination of Iran's supreme leader and his potential successor, his son, Mojtaba.Also read | <a href="https://www.wionews.com/world/iran-claims-breakthrough-in-geneva-talks-vance-says-tehran-ignoring-trump-s-red-lines-1771375814136">Iran claims breakthrough in Geneva talks, Vance says Tehran ignoring Trump's 'red lines'</a>"They have something for every scenario. One scenario takes out the ayatollah and his son and the mullahs," a senior Trump advisor told the publication. However, the adviser insisted that Trump has not decided yet, "What the president chooses no one knows. I don't think he knows."Another senior official on the Trump administration confirmed that the plan to kill Khamenei and his son Mojtaba was presented to Trump weeks ago.<h2>Trump ‘keeping his options open’</h2>"Trump is keeping his options open. He could decide on an attack at any moment," including direct action against the country’s top leadership, said a third person in the Trump administration.<h2>Military pressure builds</h2>The reports surfaced as Trump on Thursday (Feb 19) acknowledged he is considering a limited strike on Iran, if the nation did not strike a deal with the US within 10-15 days. When asked directly by a reporter, he replied, "The most I can say, I am considering it."Also read | <a href="https://www.wionews.com/world/trump-ahead-of-us-iran-talks-in-geneva-warns-iran-of-consequences-if-nuclear-deal-fails-what-bout-uss-abraham-lincoln-1771295379775">Trump, ahead of US-Iran talks in Geneva, warns Tehran of 'consequences' if nuclear deal fails</a>In recent weeks, the US has ramped up its military presence in the Middle East. After deploying the USS Abraham Lincoln carrier group earlier this year, Washington ordered a second aircraft carrier, the Gerald Ford, to head to the region. The move is widely seen as leverage, aimed at pushing Tehran to curb its nuclear programme.Trump has warned that "bad things" would happen if Iran does not reach a deal before his deadline expires.&nbsp;<h2>Talks continue</h2>The latest escalation comes even as negotiations inch forward. Following talks in Geneva, Iran’s Foreign Minister Abbas Araghchi said a draft proposal could be ready within days and would be handed to US envoy Steve Witkoff after final approval in Tehran.Araghchi pushed back on claims that Washington demanded zero uranium enrichment. "We have not offered any suspension, and the US side has not asked for zero enrichment," he said in an interview to US TV network MS NOW. The focus, he insisted, is ensuring Iran’s nuclear programme "is peaceful and would remain peaceful forever". &nbsp;

As tensions rise between Washington and Tehran, reports say President Donald Trump is weighing options that go beyond diplomacy, including a scenario involving the assassination of Iran’s Supreme Leader Ali Khamenei and his son Mojtaba. Here's all we know.

As tensions simmer between Washington and Tehran, US President Donald Trump is weighing options that go far beyond diplomacy, suggest reports. The POTUS is reportedly considering "taking out" the nation's Supreme Leader Ayatollah Seyyed Imam Ali Khamenei, his son and the mullahs. Here's what we know. Trump to order Ayatollah's assassination? According to an Axios report citing multiple sources, Trump is considering multiple scenarios, including one that involves the assassination of Iran's supreme leader and his potential successor, his son, Mojtaba. Also read | Iran claims breakthrough in Geneva talks, Vance says Tehran ignoring Trump's 'red lines' "They have something for every scenario. One scenario takes out the ayatollah and his son and the mullahs," a senior Trump advisor told the publication. However, the adviser insisted that Trump has not decided yet, "What the president chooses no one knows. I don't think he knows." Another senior official on the Trump administration confirmed that the plan to kill Khamenei and his son Mojtaba was presented to Trump weeks ago. Trump ‘keeping his options open’ "Trump is keeping his options open. He could decide on an attack at any moment," including direct action against the country’s top leadership, said a third person in the Trump administration. Military pressure builds The reports surfaced as Trump on Thursday (Feb 19) acknowledged he is considering a limited strike on Iran, if the nation did not strike a deal with the US within 10-15 days. When asked directly by a reporter, he replied, "The most I can say, I am considering it." Also read | Trump, ahead of US-Iran talks in Geneva, warns Tehran of 'consequences' if nuclear deal fails In recent weeks, the US has ramped up its military presence in the Middle East. After deploying the USS Abraham Lincoln carrier group earlier this year, Washington ordered a second aircraft carrier, the Gerald Ford, to head to the region. The move is widely seen as leverage, aimed at pushing Tehran to curb its nuclear programme. Trump has warned that "bad things" would happen if Iran does not reach a deal before his deadline expires. Talks continue The latest escalation comes even as negotiations inch forward. Following talks in Geneva, Iran’s Foreign Minister Abbas Araghchi said a draft proposal could be ready within days and would be handed to US envoy Steve Witkoff after final approval in Tehran. Araghchi pushed back on claims that Washington demanded zero uranium enrichment. "We have not offered any suspension, and the US side has not asked for zero enrichment," he said in an interview to US TV network MS NOW. The focus, he insisted, is ensuring Iran’s nuclear programme "is peaceful and would remain peaceful forever".

As tensions rise between Washington and Tehran, reports say President Donald Trump is weighing options that go beyond diplomacy, including a scenario involving the assassination of Iran’s Supreme Leader Ali Khamenei and his son Mojtaba. Here's all we know.

Did Trump order Iran supreme leader Ayatollah Khamenei's assassination? Here's what new report suggests

Prime Minister Narendra Modi on Saturday (Feb 21) launched the India Chip Private Limited, a pioneering joint venture between HCL and Foxconn for domestic semiconductor production. Addressing the groundbreaking ceremony of the OSAT (Outsourced Semiconductor Assembly and Test) facility in the northern city of Jewar in Uttar Pradesh via video conferencing, Modi stressed India’s push for chipmaking self-reliance.“India must become self-reliant in chip manufacturing... For this... we need to build a semiconductor ecosystem in India,” Modi said, adding that the nation is working simultaneously on both software and hardware aspects of technology.“It is a matter of pride for all of us that Uttar Pradesh is also set to become a major centre in India’s semiconductor ecosystem. This new HCL and Foxconn factory... will further strengthen UP’s new identity as a technology powerhouse,” he said.<a href="https://www.wionews.com/videos/western-dual-use-chips-reportedly-reached-russia-via-north-korea-hong-kong-1771558191370/embed">https://www.wionews.com/videos/western-dual-use-chips-reportedly-reached-russia-via-north-korea-hong-kong-1771558191370/embed</a><h2>A step towards technological self-reliance</h2>This is Uttar Pradesh’s first OSAT facility and India’s sixth approved semiconductor project.The joint venture between Indian IT giant HCL Technologies and Taiwanese electronics manufacturer Foxconn is located in the Yamuna Expressway Industrial Development Authority (YEIDA) area in Uttar Pradesh, near the upcoming Noida International Airport.Spanning approximately 48 acres, the facility has an investment of more than Rs 3,700 crore.Foxconn holds a 40 per cent equity stake, having invested $37.2 million (around Rs 312 crore), with possible additional investment of up to Rs 424 crore.The project is being developed under the modified scheme for semiconductor ATMP, or Assembly, Testing, Marking and Packaging.Also read: <a href="https://www.wionews.com/world/not-about-china-why-india-joining-pax-silica-alliance-on-rare-earths-supply-chain-chip-making-and-ai-is-a-big-deal-1771580224467">Not about China? Why India joining Pax Silica alliance on rare earths supply chain, chip making and AI is a big deal</a><h2>What will the OSAT facility make?</h2>The facility aims to enhance high-end manufacturing capabilities in sectors such as mobile phones, tablets, laptops and automotive electronics.It will focus on display driver integrated circuits for smartphones, laptops, automotive applications and other consumer electronics, according to reports.The facility is expected to generate thousands of direct and indirect jobs for engineers, technicians and skilled professionals, and to catalyse growth in ancillary industries, design houses, R&amp;D centres and a start-up ecosystem around semiconductors, said a release from the government.Also read: <a href="https://www.wionews.com/opinions/from-chips-to-chatbots-how-india-is-chasing-ai-billions-1771413723048">From chips to chatbots: How India is chasing AI billions</a><h2>India’s growth in chip ecosystem</h2>The new facility is a significant step in strengthening India’s self-reliance and its presence in the global chip ecosystem.It will help India reduce import dependence, build resilient supply chains and promote innovation, skill development and technology transfer.The new facility aligns with government initiatives such as Make in India and Digital India, as well as Atmanirbhar Bharat, or a self-reliant India.

Prime Minister Modi attended the groundbreaking ceremony of a new semiconductor facility in Uttar Pradesh. The HCL and Foxconn joint venture boosts India’s chip manufacturing, self-reliance, jobs and high-end electronics production.

Prime Minister Narendra Modi on Saturday (Feb 21) launched the India Chip Private Limited, a pioneering joint venture between HCL and Foxconn for domestic semiconductor production. Addressing the groundbreaking ceremony of the OSAT (Outsourced Semiconductor Assembly and Test) facility in the northern city of Jewar in Uttar Pradesh via video conferencing, Modi stressed India’s push for chipmaking self-reliance. “India must become self-reliant in chip manufacturing... For this... we need to build a semiconductor ecosystem in India,” Modi said, adding that the nation is working simultaneously on both software and hardware aspects of technology. “It is a matter of pride for all of us that Uttar Pradesh is also set to become a major centre in India’s semiconductor ecosystem. This new HCL and Foxconn factory... will further strengthen UP’s new identity as a technology powerhouse,” he said. https://www.wionews.com/videos/western-dual-use-chips-reportedly-reached-russia-via-north-korea-hong-kong-1771558191370/embed A step towards technological self-reliance This is Uttar Pradesh’s first OSAT facility and India’s sixth approved semiconductor project. The joint venture between Indian IT giant HCL Technologies and Taiwanese electronics manufacturer Foxconn is located in the Yamuna Expressway Industrial Development Authority (YEIDA) area in Uttar Pradesh, near the upcoming Noida International Airport. Spanning approximately 48 acres, the facility has an investment of more than Rs 3,700 crore. Foxconn holds a 40 per cent equity stake, having invested $37.2 million (around Rs 312 crore), with possible additional investment of up to Rs 424 crore. The project is being developed under the modified scheme for semiconductor ATMP, or Assembly, Testing, Marking and Packaging. Also read: Not about China? Why India joining Pax Silica alliance on rare earths supply chain, chip making and AI is a big deal What will the OSAT facility make? The facility aims to enhance high-end manufacturing capabilities in sectors such as mobile phones, tablets, laptops and automotive electronics. It will focus on display driver integrated circuits for smartphones, laptops, automotive applications and other consumer electronics, according to reports. The facility is expected to generate thousands of direct and indirect jobs for engineers, technicians and skilled professionals, and to catalyse growth in ancillary industries, design houses, R&D centres and a start-up ecosystem around semiconductors, said a release from the government. Also read: From chips to chatbots: How India is chasing AI billions India’s growth in chip ecosystem The new facility is a significant step in strengthening India’s self-reliance and its presence in the global chip ecosystem. It will help India reduce import dependence, build resilient supply chains and promote innovation, skill development and technology transfer. The new facility aligns with government initiatives such as Make in India and Digital India, as well as Atmanirbhar Bharat, or a self-reliant India.

Prime Minister Modi attended the groundbreaking ceremony of a new semiconductor facility in Uttar Pradesh. The HCL and Foxconn joint venture boosts India’s chip manufacturing, self-reliance, jobs and high-end electronics production. Here is what you should know

India Chip Private Limited launched by PM Modi: Why is it important and what will it make?

US President Donald Trump on Friday (Feb 20) said India will continue to face 18 per cent tariffs, even after the Supreme Court struck down sweeping reciprocal tariffs. The remarks came days after the court, in a 6-3 decision, ruled that Trump's sweeping duties on imports from nearly all trading partners violated federal law. The judges held that he lacked the authority under the 1977 International Emergency Economic Powers Act to impose such wide-ranging tariffs.Also read | <a href="https://www.wionews.com/world/who-is-neal-katyal-all-about-the-indian-origin-lawyer-who-led-legal-challenge-against-trump-tariffs-at-scotus-1771641242108">Who is Neal Katyal? Indian-origin lawyer behind SCOTUS ruling on Trump tariffs</a><h2>What happens to 18% India tariffs?</h2>Trump was blunt when asked about the impact on the India deal. "Nothing changes," he said in response to ANI. The trade arrangement, he added, remains intact and is expected to be signed by the end of March.Under the interim US-India trade deal framework announced earlier this month, Washington reduced proposed tariffs on Indian goods to 18 per cent from an earlier 50 per cent. In return, New Delhi agreed to eliminate tariffs on US goods."Nothing changes. They'll be paying tariffs, and we will not be paying tariffs. This is a reversal of what used to be," Trump said, calling it a "fair deal". He also described Prime Minister Narendra Modi as "a great gentleman a great man" and said the agreement marked a reversal of past trade terms."In terms of the US, He was ripping us off. So we made a deal with India. A fair deal now. We are not paying tariffs to them, and they are. We did a little flip," said Trump.Also read | <a href="https://www.wionews.com/opinions/donald-trump-suffers-first-major-blow-to-his-economic-and-diplomatic-policy-opinion-1771637528141">Donald Trump suffers first major blow to his economic and diplomatic policy</a><h2>What the US-India trade deal covers</h2>India has agreed to cut or remove duties on US industrial goods and a range of farm products. These include dried distillers’ grains, red sorghum, tree nuts, fruits, soybean oil, wine and spirits.The US, on its part, will apply the 18 per cent tariff to Indian exports such as textiles, leather goods, footwear, chemicals, plastics, home decor and certain machinery.Notably, while the two nations announced the framework, the deal is yet to be signed. Officials from both countries are set to meet in the US on February 23 for three days to finalise the legal text. Union Commerce Minister Piyush Goyal recently said the agreement is likely to take effect in April.&nbsp;

Will India still face 18 per cent US tariffs even after the Supreme Court struck down Donald Trump’s sweeping reciprocal duties? President Trump says “nothing changes” under the interim trade deal.

Scroll down to find out what happens next.

US President Donald Trump on Friday (Feb 20) said India will continue to face 18 per cent tariffs, even after the Supreme Court struck down sweeping reciprocal tariffs. The remarks came days after the court, in a 6-3 decision, ruled that Trump's sweeping duties on imports from nearly all trading partners violated federal law. The judges held that he lacked the authority under the 1977 International Emergency Economic Powers Act to impose such wide-ranging tariffs. Also read | Who is Neal Katyal? Indian-origin lawyer behind SCOTUS ruling on Trump tariffs What happens to 18% India tariffs? Trump was blunt when asked about the impact on the India deal. "Nothing changes," he said in response to ANI. The trade arrangement, he added, remains intact and is expected to be signed by the end of March. Under the interim US-India trade deal framework announced earlier this month, Washington reduced proposed tariffs on Indian goods to 18 per cent from an earlier 50 per cent. In return, New Delhi agreed to eliminate tariffs on US goods. "Nothing changes. They'll be paying tariffs, and we will not be paying tariffs. This is a reversal of what used to be," Trump said, calling it a "fair deal". He also described Prime Minister Narendra Modi as "a great gentleman a great man" and said the agreement marked a reversal of past trade terms. "In terms of the US, He was ripping us off. So we made a deal with India. A fair deal now. We are not paying tariffs to them, and they are. We did a little flip," said Trump. Also read | Donald Trump suffers first major blow to his economic and diplomatic policy What the US-India trade deal covers India has agreed to cut or remove duties on US industrial goods and a range of farm products. These include dried distillers’ grains, red sorghum, tree nuts, fruits, soybean oil, wine and spirits. The US, on its part, will apply the 18 per cent tariff to Indian exports such as textiles, leather goods, footwear, chemicals, plastics, home decor and certain machinery. Notably, while the two nations announced the framework, the deal is yet to be signed. Officials from both countries are set to meet in the US on February 23 for three days to finalise the legal text. Union Commerce Minister Piyush Goyal recently said the agreement is likely to take effect in April.

Will India still face 18 per cent US tariffs even after the Supreme Court struck down Donald Trump’s sweeping reciprocal duties? President Trump says “nothing changes” under the interim trade deal.Scroll down to find out what happens next.

Will India still pay 18% tariffs after SCOTUS scraps Trump reciprocal duties? Here’s what the POTUS said

The US Supreme Court on Friday struck down Donald Trump’s sweeping tariffs in a 6-3 decision that translates to a clear message: your executive powers have limits.The ruling was Trump’s first major defeat in his second term. It removes a tool he has aggressively used to remake US trade deals, collect billions of dollars from American companies importing foreign goods, and interfere in the domestic affairs of countries whose leaders fail to bend to his will.The most glaring example of tariffs as a political punishment came in July when Trump slapped a 50 percent on most Brazilian goods in response to what he called a “witch hunt” against former president Jair Bolsonaro, who was on trial for an attempted coup.Also read | <a href="https://www.wionews.com/world/who-is-neal-katyal-all-about-the-indian-origin-lawyer-who-led-legal-challenge-against-trump-tariffs-at-scotus-1771641242108">Who is Neal Katyal? All about the Indian-origin lawyer who led legal challenge against Trump tariffs at SCOTUS</a>The Brazilian government ignored the apparent attempt to stop the trial and Bolsonaro was sentenced to 27 years in prison.India was another example of Trump tariffs as a geopolitical weapon. Last August, tariffs on goods from India were doubled to 50 per cent as punishment for continued purchases of discounted Russian oil. &nbsp;The row was settled in February with an agreement to roll back tariffs from 50 to 18 per cent in exchange forthe &nbsp;Indian agreement to eliminate tariffs and non-tariff barriers on US goods with the stated goal to bring all barriers to zero. &nbsp;In an angry press conference denouncing the Supreme Court judges, Trump singled out Indian Prime Minister Narendra Modi as “a great man” and stressed that under the US.-Indian trade agreement, the US is no longer paying tariffs to India.The court on Friday rued that Trump had overstepped his legal authority by imposing broad tariffs on countries around the world without clear approval from Congress. &nbsp;Chief Justice John Roberts wrote the majority opinion, saying that if the Trump administration was allowed to pursue its tax agenda, “it would replace the long-standing executive-legislative collaboration over trade policy with unchecked Presidential policy-making. Accordingly, the President must point to clear congressional authorisation to justify his extraordinary assertion of the power to impose tariffs. He cannot,”The ruling applies to tariffs Trump announced on what he called “Liberation Day” on April 2, when he invoked the International Emergency Economic Powers Act (IEEPA) to address trade imbalances. Ostensibly, part of the “emergency” was rooted in the flow of drugs from Mexico and Canada.Friday’s ruling could be something of a turning point in Trump’s relentless pursuit of more executive power, which has stirred mass protests on several occasions by demonstrators lofting signs saying “No Kings.”The Supreme Court’s 6-3 majority has blessed Trump’s expansive exertion of presidential powers in a series of other rulings issued on an emergency basis. Friday’s decision enraged Trump in particular because two of the six judges who ruled against him were appointed by him in his first term.What was left unclear was whether the estimated $175 billion collected since “liberation day” would be returned to the importers who paid them. Much of the money was passed on to consumers and essentially amounted to taxes. That stood in contrast to Trump's campaign pledges that he would reduce taxes.Also read | <a href="https://www.wionews.com/world/-absolutely-ashamed-of-certain-members-of-court-trump-lashes-out-at-supreme-court-over-tariff-decision-1771612420264">Trump announces 10% global tariff; says ‘absolutely ashamed’ of US Supreme Court</a>Importers have already filed more than 1,000 lawsuits in the Court of International Trade, and a flood of new cases is likely. Treasury Secretary Scott Bessent said the logistics of refunds could drag on for “weeks, months, years.”Opposition to the reciprocal tariffs the Supreme Court ruled on had come from both sides of America’s division, even from Trump’s Vice President during his first term, Mike Pence, founder of Advancing American Freedom, a group that has lobbied against the levies.“American families and American businesses pay American tariffs – not foreign countries. With this decision, American families can sigh a breath of relief,” he said.Perhaps. Trump has already made clear that he will re-impose tariffs using other laws on presidential authority. He has not spelt out details but announced a new global tariff of 10 per cent.Even for a White House which excels in creating alternative realities, it will be difficult to portray the Supreme Court ruling as anything but an embarrassing defeat. Democrats will no doubt use it in the campaign for mid-term elections in November, a contest for the House of Representatives Republicans are predicted to lose. &nbsp;That would turn Donald Trump into a very lame duck and change the Washington political scene. &nbsp;

The ruling was Trump’s first major defeat in his 2nd term. It removes a tool he aggressively used to remake US trade deals, collect billions of dollars from American companies importing foreign goods, and interfere in the domestic affairs of countries whose leaders fail to bend to his will.

The US Supreme Court on Friday struck down Donald Trump’s sweeping tariffs in a 6-3 decision that translates to a clear message: your executive powers have limits. The ruling was Trump’s first major defeat in his second term. It removes a tool he has aggressively used to remake US trade deals, collect billions of dollars from American companies importing foreign goods, and interfere in the domestic affairs of countries whose leaders fail to bend to his will. The most glaring example of tariffs as a political punishment came in July when Trump slapped a 50 percent on most Brazilian goods in response to what he called a “witch hunt” against former president Jair Bolsonaro, who was on trial for an attempted coup. Also read | Who is Neal Katyal? All about the Indian-origin lawyer who led legal challenge against Trump tariffs at SCOTUS The Brazilian government ignored the apparent attempt to stop the trial and Bolsonaro was sentenced to 27 years in prison. India was another example of Trump tariffs as a geopolitical weapon. Last August, tariffs on goods from India were doubled to 50 per cent as punishment for continued purchases of discounted Russian oil. The row was settled in February with an agreement to roll back tariffs from 50 to 18 per cent in exchange forthe Indian agreement to eliminate tariffs and non-tariff barriers on US goods with the stated goal to bring all barriers to zero. In an angry press conference denouncing the Supreme Court judges, Trump singled out Indian Prime Minister Narendra Modi as “a great man” and stressed that under the US.-Indian trade agreement, the US is no longer paying tariffs to India. The court on Friday rued that Trump had overstepped his legal authority by imposing broad tariffs on countries around the world without clear approval from Congress. Chief Justice John Roberts wrote the majority opinion, saying that if the Trump administration was allowed to pursue its tax agenda, “it would replace the long-standing executive-legislative collaboration over trade policy with unchecked Presidential policy-making. Accordingly, the President must point to clear congressional authorisation to justify his extraordinary assertion of the power to impose tariffs. He cannot,” The ruling applies to tariffs Trump announced on what he called “Liberation Day” on April 2, when he invoked the International Emergency Economic Powers Act (IEEPA) to address trade imbalances. Ostensibly, part of the “emergency” was rooted in the flow of drugs from Mexico and Canada. Friday’s ruling could be something of a turning point in Trump’s relentless pursuit of more executive power, which has stirred mass protests on several occasions by demonstrators lofting signs saying “No Kings.” The Supreme Court’s 6-3 majority has blessed Trump’s expansive exertion of presidential powers in a series of other rulings issued on an emergency basis. Friday’s decision enraged Trump in particular because two of the six judges who ruled against him were appointed by him in his first term. What was left unclear was whether the estimated $175 billion collected since “liberation day” would be returned to the importers who paid them. Much of the money was passed on to consumers and essentially amounted to taxes. That stood in contrast to Trump's campaign pledges that he would reduce taxes. Also read | Trump announces 10% global tariff; says ‘absolutely ashamed’ of US Supreme Court Importers have already filed more than 1,000 lawsuits in the Court of International Trade, and a flood of new cases is likely. Treasury Secretary Scott Bessent said the logistics of refunds could drag on for “weeks, months, years.” Opposition to the reciprocal tariffs the Supreme Court ruled on had come from both sides of America’s division, even from Trump’s Vice President during his first term, Mike Pence, founder of Advancing American Freedom, a group that has lobbied against the levies. “American families and American businesses pay American tariffs – not foreign countries. With this decision, American families can sigh a breath of relief,” he said. Perhaps. Trump has already made clear that he will re-impose tariffs using other laws on presidential authority. He has not spelt out details but announced a new global tariff of 10 per cent. Even for a White House which excels in creating alternative realities, it will be difficult to portray the Supreme Court ruling as anything but an embarrassing defeat. Democrats will no doubt use it in the campaign for mid-term elections in November, a contest for the House of Representatives Republicans are predicted to lose. That would turn Donald Trump into a very lame duck and change the Washington political scene.

The ruling was Trump’s first major defeat in his 2nd term. It removes a tool he aggressively used to remake US trade deals, collect billions of dollars from American companies importing foreign goods, and interfere in the domestic affairs of countries whose leaders fail to bend to his will.

Donald Trump suffers first major blow to his economic and diplomatic policy

US stocks mostly rose on Friday, as Wall Street’s main stock indexes jumped after the Supreme Court struck down US President Donald Trump’s sweeping tariffs imposed under the International Emergency Economic Powers Act (IEEPA) of 1977. The top court has voided Trump’s ⁠global ⁠tariffs since they were enacted under a federal law meant for national emergencies. The Supreme Court said Trump exceeded his powers by imposing duties without a clear Congressional authorisation.&nbsp;The six-three decision by the court buoyed the markets and sparked a rally in transportation stocks and in tariff-exposed companies like Nike and Abercrombie &amp; Fitch. The dollar slipped, and Treasury yields edged higher, said a WSJ report.&nbsp;Also Read: <a href="https://www.wionews.com/world/us-supreme-court-strikes-down-donald-trump-s-global-tariffs-1771601310479">US Supreme Court strikes down Donald Trump's global tariffs</a>&nbsp;Soon after the news trickled in, the Dow Jones Industrial Average rose 207.03 points, or 0.42%, to 49,602.19, the S&amp;P 500 gained 33.44 points, or 0.52%, to 6,895.33 and the Nasdaq Composite gained 153.93 points, or 0.68%, to 22,836.66.&nbsp;European auto shares and US-listed shares of stock markets from South Korea to India rallied.&nbsp;The yields on US Treasury bonds also jumped across maturities. Yields on the 10-year bond, which mortgage rates often track closely, rose to 4.096%, while the 30-year Treasury yield rose to 4.74%.&nbsp;Also Read: <a href="https://www.wionews.com/world/us-apex-court-strikes-down-swath-of-trump-s-tariffs-but-president-says-he-has-backup-plan-here-are-his-options-1771602994991">US apex court strikes down swath of Trump’s tariffs, but president says he has a ‘backup plan’. Here are his options</a>&nbsp;The U.S. dollar jumped against other currencies, such as the British pound, Euro, and Japan's yen, a signal that investors are taking the court decision favourably.&nbsp;Trump imposed the levies in February 2005 under the 1977 economic sanctions law meant to be used only during national emergencies. His April 2 “Liberation Day” tariffs included a ⁠baseline duty of 10% on all imports to the US and specific additional tariffs ⁠of 15% to 50% on most countries, many of which were later renegotiated and lowered.&nbsp;Thousands of companies around the world have filed lawsuits challenging the sweeping tariffs and sought refunds on duties they have paid.

The six-three decision by the US Supreme Court buoyed the markets and sparked a rally in transportation stocks and in tariff-exposed companies. The dollar slipped, while Treasury yields edged higher.

US stocks mostly rose on Friday, as Wall Street’s main stock indexes jumped after the Supreme Court struck down US President Donald Trump’s sweeping tariffs imposed under the International Emergency Economic Powers Act (IEEPA) of 1977. The top court has voided Trump’s ⁠global ⁠tariffs since they were enacted under a federal law meant for national emergencies. The Supreme Court said Trump exceeded his powers by imposing duties without a clear Congressional authorisation. The six-three decision by the court buoyed the markets and sparked a rally in transportation stocks and in tariff-exposed companies like Nike and Abercrombie & Fitch. The dollar slipped, and Treasury yields edged higher, said a WSJ report. Also Read: US Supreme Court strikes down Donald Trump's global tariffs Soon after the news trickled in, the Dow Jones Industrial Average rose 207.03 points, or 0.42%, to 49,602.19, the S&P 500 gained 33.44 points, or 0.52%, to 6,895.33 and the Nasdaq Composite gained 153.93 points, or 0.68%, to 22,836.66. European auto shares and US-listed shares of stock markets from South Korea to India rallied. The yields on US Treasury bonds also jumped across maturities. Yields on the 10-year bond, which mortgage rates often track closely, rose to 4.096%, while the 30-year Treasury yield rose to 4.74%. Also Read: US apex court strikes down swath of Trump’s tariffs, but president says he has a ‘backup plan’. Here are his options The U.S. dollar jumped against other currencies, such as the British pound, Euro, and Japan's yen, a signal that investors are taking the court decision favourably. Trump imposed the levies in February 2005 under the 1977 economic sanctions law meant to be used only during national emergencies. His April 2 “Liberation Day” tariffs included a ⁠baseline duty of 10% on all imports to the US and specific additional tariffs ⁠of 15% to 50% on most countries, many of which were later renegotiated and lowered. Thousands of companies around the world have filed lawsuits challenging the sweeping tariffs and sought refunds on duties they have paid.

The six-three decision by the US Supreme Court buoyed the markets and sparked a rally in transportation stocks and in tariff-exposed companies. The dollar slipped, while Treasury yields edged higher.

US stocks rise after Supreme Court rules against Trump’s sweeping tariffs

Alexandr Wang is the co-founder of Scale AI and is regarded as one of the rising young leaders in artificial intelligence. Many people compare him to Elon Musk, founder of SpaceX, because of his innovative ideas and rapid success in the tech industry. At just 17, Wang began working as a software engineer at Addepar and in 2014, he joined Quora as a tech lead. He later enrolled at the Massachusetts Institute of Technology to study mathematics and computer science but dropped out at 19 to join Y Combinator and started Scale AI in 2016. His initial idea was to help companies place raw data to work for artificial intelligence and machine learning.&nbsp;&nbsp;During his leadership period, Scale AI worked on important real-world projects, including damage of the Ukraine war. The company also signed contracts worth $110 million with the US Air Force and army, showing how AI can help in national defence.&nbsp;&nbsp;Also Read - <a href="https://www.wionews.com/world/not-about-china-why-india-joining-pax-silica-alliance-on-rare-earths-supply-chain-chip-making-and-ai-is-a-big-deal-1771580224467">Not about China? Why India joining Pax Silica alliance on rare earths supply chain, chip making and AI is a big deal</a><h2>Alexandr Wang's net worth</h2>According to Forbes, his net worth is estimated about $3.2 billion (INR 28,336 crore). In June 2025, Meta announced that Wang would lead its AI plans through a new group called Superintelligence Labs. This team brings together all of Meta’s AI research, systems and product development.&nbsp;<h2>Who is Alexandr Wang?</h2>Wang is one of the rising young leaders in artificial intelligence sector. He was born in New Mexico to Chinese immigrant parents who worked as physicists at Los Alamos National Laboratory. He enrolled at MIT but dropped out in 2016 to build Scale AI. By 2024, the company was valued at nearly $14 billion, making him one of the youngest billionaires in the AI industry.&nbsp;<h2>What Alexandr Wang said at the India AI Summit 2026</h2>At the India AI Summit 2026, Alexandr Wang said that Meta wants to make artificial intelligence useful in everyday life. He explained that the goal is to build AI tools that people can use easily in their daily activities. He also said that Meta believes it has a duty to make sure its technology helps society in real and meaningful ways.&nbsp;&nbsp;“If you want to make technology that serves society, Meta has an incredible opportunity to get this technology into people’s lives,” Wang said during his keynote address.<h2>How Meta’s AI is being used in India</h2>Wang shared that AI is already becoming part of daily digital life in India. For example, Meta’s tools can automatically translate Reels into different languages. This helps creators to connect with more people without doing extra work and removes language barriers.&nbsp;He also said that many small businesses are quickly adopting AI, even if they do not have technical experts. Using their phones, they can set up WhatsApp Business agents in just a few minutes. These AI agents help businesses respond to customers, handle questions and create advertisements. With generative AI tools, companies can market their products more easily and efficiently than with traditional methods.&nbsp;Wang also praised Indian developers, calling them highly skilled innovators. He said they are using AI to solve major challenges in areas like education, public services and accessibility.

Alexandr Wang’s innovative vision and deep passion for artificial intelligence have propelled him into the spotlight of the tech world, where he is frequently compared to Elon Musk, founder of SpaceX. 

Alexandr Wang is the co-founder of Scale AI and is regarded as one of the rising young leaders in artificial intelligence. Many people compare him to Elon Musk, founder of SpaceX, because of his innovative ideas and rapid success in the tech industry. At just 17, Wang began working as a software engineer at Addepar and in 2014, he joined Quora as a tech lead. He later enrolled at the Massachusetts Institute of Technology to study mathematics and computer science but dropped out at 19 to join Y Combinator and started Scale AI in 2016. His initial idea was to help companies place raw data to work for artificial intelligence and machine learning. During his leadership period, Scale AI worked on important real-world projects, including damage of the Ukraine war. The company also signed contracts worth $110 million with the US Air Force and army, showing how AI can help in national defence. Also Read - Not about China? Why India joining Pax Silica alliance on rare earths supply chain, chip making and AI is a big deal Alexandr Wang's net worth According to Forbes, his net worth is estimated about $3.2 billion (INR 28,336 crore). In June 2025, Meta announced that Wang would lead its AI plans through a new group called Superintelligence Labs. This team brings together all of Meta’s AI research, systems and product development. Who is Alexandr Wang? Wang is one of the rising young leaders in artificial intelligence sector. He was born in New Mexico to Chinese immigrant parents who worked as physicists at Los Alamos National Laboratory. He enrolled at MIT but dropped out in 2016 to build Scale AI. By 2024, the company was valued at nearly $14 billion, making him one of the youngest billionaires in the AI industry. What Alexandr Wang said at the India AI Summit 2026 At the India AI Summit 2026, Alexandr Wang said that Meta wants to make artificial intelligence useful in everyday life. He explained that the goal is to build AI tools that people can use easily in their daily activities. He also said that Meta believes it has a duty to make sure its technology helps society in real and meaningful ways. “If you want to make technology that serves society, Meta has an incredible opportunity to get this technology into people’s lives,” Wang said during his keynote address. How Meta’s AI is being used in India Wang shared that AI is already becoming part of daily digital life in India. For example, Meta’s tools can automatically translate Reels into different languages. This helps creators to connect with more people without doing extra work and removes language barriers. He also said that many small businesses are quickly adopting AI, even if they do not have technical experts. Using their phones, they can set up WhatsApp Business agents in just a few minutes. These AI agents help businesses respond to customers, handle questions and create advertisements. With generative AI tools, companies can market their products more easily and efficiently than with traditional methods. Wang also praised Indian developers, calling them highly skilled innovators. He said they are using AI to solve major challenges in areas like education, public services and accessibility.

Alexandr Wang’s innovative vision and deep passion for artificial intelligence have propelled him into the spotlight of the tech world, where he is frequently compared to Elon Musk, founder of SpaceX.&nbsp;

Alexandr Wang’s net worth: The rise of 29-year-old AI billionaire

India on Friday (Feb 20) joined the Pax Silica alliance on rare earth elements, ending speculation about whether New Delhi had been snubbed from the pact led by the US. Oddly, the US tried to downplay analysts’ assessments that this alliance is aimed at countering China’s continuing dominance in the rare earth supply chain that affects chip manufacturing and AI computing. Here is what you should know about Pax Silica and why India joining it is significant.<h2>What is Pax Silica?</h2>Pax Silica is a US-led strategic coalition to build resilient supply chains for both critical minerals and artificial intelligence computing. The framework envisions a coalition-led economic order for the AI age, with deep economic and technological cooperation among members.Signatories will cooperate on the making and flow of raw earth materials, semiconductors, and AI infrastructure. Experts say this is part of the broader US strategy to counter China’s dominance in high-tech sectors, particularly AI computing.<a href="https://www.wionews.com/videos/why-india-joining-pax-silica-is-a-big-deal-how-india-is-positioning-itself-in-an-ai-world-1771574386678/embed">https://www.wionews.com/videos/why-india-joining-pax-silica-is-a-big-deal-how-india-is-positioning-itself-in-an-ai-world-1771574386678/embed</a><h2>India signs on Pax Silica</h2>India joined the Pax Silica alliance at the India AI Impact Summit in New Delhi's Bharat Mandapam. Indian Minister for Electronics and IT, Ashwini Vaishnaw, US Ambassador to India Sergio Gor, and US Under Secretary of State for Economic Affairs Jacob Helberg attended the signing ceremony.Vaishnaw said that becoming part of Pax Silica will greatly benefit India’s electronics and semiconductor industry. Gor said the coalition “will define the 21st-century economic and technological order”.“Pax Silica is a declaration that the future belongs to those who build, and when free people join forces,” said Helberg.Also read: <a href="https://www.wionews.com/world/what-is-pax-silica-initiative-the-us-led-grouping-that-excluded-india-china-us-modi-trump-jinping-trade-war-tariffs-semiconductor-us-hegemony-1765541403919">What is Pax Silica Initiative? The US-led grouping that excluded India</a>&nbsp;<h2>Key pillars of the Pax Silica declaration</h2>The Pax Silica declaration vows to build secure, resilient, and innovation-driven supply chains for critical minerals and AI. It aims to establish a durable economic order to drive AI-powered prosperity across partner nations. It recognises that reliable supply chains are indispensable to mutual economic security and that AI is a transformative force for long-term prosperity. It stresses that trustworthy systems are essential to mutual security.The declaration seeks to promote co-investment, safeguard sensitive technologies from foreign control, and build trusted digital infrastructure.<h2>Why India joining Pax Silica is significant</h2>India’s participation is being seen as a major win for the US in the race to shape access to advanced semiconductors and AI infrastructure supply chains.India is a BRICS member, of which China is also part. New Delhi’s alignment with a US-led technology bloc is therefore geopolitically notable.India is pushing to become a chip-making hub. India’s first semiconductor plant is set to begin commercial production soon. Currently, 2nm chips are being designed in India.The US State Department recently announced a new concierge service to help Pax Silica signatories acquire US-made AI semiconductors more efficiently. This aligns with India’s push to become a global semiconductor and electronics manufacturing hub.<h2>The original idea of Pax Silica had excluded India</h2>The first Pax Silica summit was held on 12 December 2024 at the Donald J Trump Institute of Peace in Washington, DC.Besides the US, the original founding members of the alliance are Australia, Greece, Israel, Japan, Qatar, South Korea, Singapore, the United Arab Emirates, and the United Kingdom. India is the 10th member.India was left out of the initial Pax Silica alliance, raising questions in diplomatic circles. The opposition Congress party at the time had criticised New Delhi’s exclusion as a setback for India’s strategic and technological ambitions.<h2>Not about China?</h2>Despite the optics, Helberg insisted that Pax Silica is “really not about China; it is about America”.“We want to secure our supply chains,” he said.However, the context is clear. China currently controls approximately 90 per cent of global rare earth refining — a key vulnerability the coalition seeks to address.&nbsp;Beijing also controls critical segments of the semiconductor and AI supply chains. Pax Silica aims to reduce reliance on Chinese sources for these strategic materials and technologies.&nbsp; The stress is on secure, resilient supply chains, co-investment in semiconductor manufacturing, and protection of sensitive technologies. This is clearly a signal that the intent is to counter China’s influence in high-tech sectors. India’s entry, in particular, strengthens the coalition’s geopolitical leverage given its strategic location and growing domestic semiconductor industry.This further underscores the implicit aim to limit China’s technological and economic reach.

India finally joins US-led Pax Silica alliance on rare earths and AI supply chains. This will boost semiconductor supply chains. It's a strategic move to counter China’s dominance in high-tech sectors.

India on Friday (Feb 20) joined the Pax Silica alliance on rare earth elements, ending speculation about whether New Delhi had been snubbed from the pact led by the US. Oddly, the US tried to downplay analysts’ assessments that this alliance is aimed at countering China’s continuing dominance in the rare earth supply chain that affects chip manufacturing and AI computing. Here is what you should know about Pax Silica and why India joining it is significant. What is Pax Silica? Pax Silica is a US-led strategic coalition to build resilient supply chains for both critical minerals and artificial intelligence computing. The framework envisions a coalition-led economic order for the AI age, with deep economic and technological cooperation among members. Signatories will cooperate on the making and flow of raw earth materials, semiconductors, and AI infrastructure. Experts say this is part of the broader US strategy to counter China’s dominance in high-tech sectors, particularly AI computing. https://www.wionews.com/videos/why-india-joining-pax-silica-is-a-big-deal-how-india-is-positioning-itself-in-an-ai-world-1771574386678/embed India signs on Pax Silica India joined the Pax Silica alliance at the India AI Impact Summit in New Delhi's Bharat Mandapam. Indian Minister for Electronics and IT, Ashwini Vaishnaw, US Ambassador to India Sergio Gor, and US Under Secretary of State for Economic Affairs Jacob Helberg attended the signing ceremony. Vaishnaw said that becoming part of Pax Silica will greatly benefit India’s electronics and semiconductor industry. Gor said the coalition “will define the 21st-century economic and technological order”. “Pax Silica is a declaration that the future belongs to those who build, and when free people join forces,” said Helberg. Also read: What is Pax Silica Initiative? The US-led grouping that excluded India Key pillars of the Pax Silica declaration The Pax Silica declaration vows to build secure, resilient, and innovation-driven supply chains for critical minerals and AI. It aims to establish a durable economic order to drive AI-powered prosperity across partner nations. It recognises that reliable supply chains are indispensable to mutual economic security and that AI is a transformative force for long-term prosperity. It stresses that trustworthy systems are essential to mutual security. The declaration seeks to promote co-investment, safeguard sensitive technologies from foreign control, and build trusted digital infrastructure. Why India joining Pax Silica is significant India’s participation is being seen as a major win for the US in the race to shape access to advanced semiconductors and AI infrastructure supply chains. India is a BRICS member, of which China is also part. New Delhi’s alignment with a US-led technology bloc is therefore geopolitically notable. India is pushing to become a chip-making hub. India’s first semiconductor plant is set to begin commercial production soon. Currently, 2nm chips are being designed in India. The US State Department recently announced a new concierge service to help Pax Silica signatories acquire US-made AI semiconductors more efficiently. This aligns with India’s push to become a global semiconductor and electronics manufacturing hub. The original idea of Pax Silica had excluded India The first Pax Silica summit was held on 12 December 2024 at the Donald J Trump Institute of Peace in Washington, DC. Besides the US, the original founding members of the alliance are Australia, Greece, Israel, Japan, Qatar, South Korea, Singapore, the United Arab Emirates, and the United Kingdom. India is the 10th member. India was left out of the initial Pax Silica alliance, raising questions in diplomatic circles. The opposition Congress party at the time had criticised New Delhi’s exclusion as a setback for India’s strategic and technological ambitions. Not about China? Despite the optics, Helberg insisted that Pax Silica is “really not about China; it is about America”. “We want to secure our supply chains,” he said. However, the context is clear. China currently controls approximately 90 per cent of global rare earth refining — a key vulnerability the coalition seeks to address. Beijing also controls critical segments of the semiconductor and AI supply chains. Pax Silica aims to reduce reliance on Chinese sources for these strategic materials and technologies. The stress is on secure, resilient supply chains, co-investment in semiconductor manufacturing, and protection of sensitive technologies. This is clearly a signal that the intent is to counter China’s influence in high-tech sectors. India’s entry, in particular, strengthens the coalition’s geopolitical leverage given its strategic location and growing domestic semiconductor industry. This further underscores the implicit aim to limit China’s technological and economic reach.

India finally joins US-led Pax Silica alliance on rare earths and AI supply chains. This will boost semiconductor supply chains. It's a strategic move to counter China’s dominance in high-tech sectors.

Not about China? Why India joining Pax Silica alliance on rare earths supply chain, chip making and AI is a big deal

India's Supreme Court has once again criticised pre-poll freebies, this time taking issue with plans to provide free electricity ahead of the Tamil Nadu state elections. In its observations on Thursday (Feb 19), the court said that even states that are not financially doing well are offering such freebies. &nbsp;It slammed indiscriminate free electricity and other benefits by revenue-deficient states, warning that such largesse harms economic development and work culture. But we have been here before. The apex court has often been reluctant to make any specific ruling to regulate the matter, leaving it to the election body and parliament. It leaves a grey area that often allows pre-election freebies to thrive, possibly affecting election outcomes for years now. Here is an analysis.<h2>What the Indian Supreme Court said on pre-election freebies</h2>The court agreed that freebies might be appropriate for poor people, but said that when they are given to everyone, it amounts to appeasement. It called for a re-examination of policies that are affecting progress.“Most of the states in the country are revenue deficit states and yet they are offering such freebies,” said the court.“The economic development of the nation will be hampered by this kind of largesse distribution. It is the state’s duty to provide welfare, but those who are enjoying freebies, is that not something which needs to be examined?,” it added.&nbsp;<a href="https://www.wionews.com/videos/india-people-get-freebies-why-work-apex-court-8715346/embed">https://www.wionews.com/videos/india-people-get-freebies-why-work-apex-court-8715346/embed</a><h2>Why Indian Supreme Court made observation on freebies during elections</h2>Over the years, it has become very common in Indian states to offer various freebies — services and products — ahead of elections, including direct cash transfers into people's bank accounts. The court said that, as a welfare state, it is acceptable to give concessions to poor people, but even states without adequate income are offering universal freebies.The Supreme Court bench, chaired by Chief Justice Surya Kant, was hearing a plea filed by the Tamil Nadu Power Distribution Corporation. The company had challenged the 2024 central electricity reforms, which mandate strict financial discipline for power-distribution firms.Issuing notice to the Centre in the case, the Supreme Court expressed its displeasure that such freebies are being offered not only in Tamil Nadu, but across the nation.&nbsp;Chief Justice Surya Kant said the court is aware of what happened in the recent state elections, including direct money transfer programmes.&nbsp;The court observed that, instead of spending money on development projects, states are using funds for large-scale freebies and salaries.<h2>Who will work if government gives freebies? Supreme Court's sharp rebuke&nbsp;</h2>If food, bicycles and electricity are given free of cost, who will go to work, the court asked."If you start giving free food from morning to evening, then free cycles, then free electricity, who will work? And what will happen to the work culture?”It is fine if people who cannot afford to pay are given some concessions in electricity rates. But if it is given to everyone, what culture are we creating, asked the court, adding that those who can pay should be made to pay.&nbsp;Also read: <a href="https://www.wionews.com/india-news/-this-is-tax-money-supreme-court-slams-poll-eve-freebie-culture-questions-fiscal-logic-1771496414543">‘This is tax money’: Supreme Court slams poll-eve freebie culture, questions fiscal logic</a>&nbsp;The court said: It is understandable that you want to provide, as part of a welfare system, for those who cannot pay electricity charges. But without drawing a distinction between those who can afford and those who cannot, if you start distributing… will it not amount kind of an appeasing policy?”<h2>Freebies politics: This is not the first time that the Indian top court took up the matter</h2>The Chief Justice also reminded that the various political parties offering freebies ahead of elections are currently under its examination.Pre-poll largesse has become a malice in Indian politics, and the Supreme Court has been cognizant of the matter in the past few years.In February 2025, the apex court criticised election-time free rations and cash transfers, saying they discourage people from working and risk creating dependency. During the hearing, the court questioned whether schemes like 'Ladli Behna' announced around elections were fostering a culture where people are unwilling to work.Also read: <a href="https://www.wionews.com/india-news/supreme-court-criticises-freebies-says-people-not-willing-to-work-8715261">Supreme court criticises freebies, says people not willing to work</a>&nbsp;In January this year, it said the issue of pre-poll freebies, including the distribution of cash and other goods, is an important matter requiring serious examination.In January, 2022 the Supreme Court described the promise of freebies during election campaigns as a serious issue. At the time, it sought responses from the Centre and the Election Commission on regulating the practice.In the Subramaniam Balaji case of 2013, the court declined to strike down welfare schemes involving distribution of goods like televisions and laptops. But it acknowledged concerns about freebies. It left the regulation of such promises to the Election Commission and Parliament.

India's Supreme Court slammed pre-election freebies, this time in a case on free electricity in Tamil Nadu. The top court has targeted such schemes in cash or kind, warning they harm fiscal discipline, economic development and work culture

India's Supreme Court has once again criticised pre-poll freebies, this time taking issue with plans to provide free electricity ahead of the Tamil Nadu state elections. In its observations on Thursday (Feb 19), the court said that even states that are not financially doing well are offering such freebies. It slammed indiscriminate free electricity and other benefits by revenue-deficient states, warning that such largesse harms economic development and work culture. But we have been here before. The apex court has often been reluctant to make any specific ruling to regulate the matter, leaving it to the election body and parliament. It leaves a grey area that often allows pre-election freebies to thrive, possibly affecting election outcomes for years now. Here is an analysis. What the Indian Supreme Court said on pre-election freebies The court agreed that freebies might be appropriate for poor people, but said that when they are given to everyone, it amounts to appeasement. It called for a re-examination of policies that are affecting progress. “Most of the states in the country are revenue deficit states and yet they are offering such freebies,” said the court. “The economic development of the nation will be hampered by this kind of largesse distribution. It is the state’s duty to provide welfare, but those who are enjoying freebies, is that not something which needs to be examined?,” it added. https://www.wionews.com/videos/india-people-get-freebies-why-work-apex-court-8715346/embed Why Indian Supreme Court made observation on freebies during elections Over the years, it has become very common in Indian states to offer various freebies — services and products — ahead of elections, including direct cash transfers into people's bank accounts. The court said that, as a welfare state, it is acceptable to give concessions to poor people, but even states without adequate income are offering universal freebies. The Supreme Court bench, chaired by Chief Justice Surya Kant, was hearing a plea filed by the Tamil Nadu Power Distribution Corporation. The company had challenged the 2024 central electricity reforms, which mandate strict financial discipline for power-distribution firms. Issuing notice to the Centre in the case, the Supreme Court expressed its displeasure that such freebies are being offered not only in Tamil Nadu, but across the nation. Chief Justice Surya Kant said the court is aware of what happened in the recent state elections, including direct money transfer programmes. The court observed that, instead of spending money on development projects, states are using funds for large-scale freebies and salaries. Who will work if government gives freebies? Supreme Court's sharp rebuke If food, bicycles and electricity are given free of cost, who will go to work, the court asked. "If you start giving free food from morning to evening, then free cycles, then free electricity, who will work? And what will happen to the work culture?” It is fine if people who cannot afford to pay are given some concessions in electricity rates. But if it is given to everyone, what culture are we creating, asked the court, adding that those who can pay should be made to pay. Also read: ‘This is tax money’: Supreme Court slams poll-eve freebie culture, questions fiscal logic The court said: It is understandable that you want to provide, as part of a welfare system, for those who cannot pay electricity charges. But without drawing a distinction between those who can afford and those who cannot, if you start distributing… will it not amount kind of an appeasing policy?” Freebies politics: This is not the first time that the Indian top court took up the matter The Chief Justice also reminded that the various political parties offering freebies ahead of elections are currently under its examination. Pre-poll largesse has become a malice in Indian politics, and the Supreme Court has been cognizant of the matter in the past few years. In February 2025, the apex court criticised election-time free rations and cash transfers, saying they discourage people from working and risk creating dependency. During the hearing, the court questioned whether schemes like 'Ladli Behna' announced around elections were fostering a culture where people are unwilling to work. Also read: Supreme court criticises freebies, says people not willing to work In January this year, it said the issue of pre-poll freebies, including the distribution of cash and other goods, is an important matter requiring serious examination. In January, 2022 the Supreme Court described the promise of freebies during election campaigns as a serious issue. At the time, it sought responses from the Centre and the Election Commission on regulating the practice. In the Subramaniam Balaji case of 2013, the court declined to strike down welfare schemes involving distribution of goods like televisions and laptops. But it acknowledged concerns about freebies. It left the regulation of such promises to the Election Commission and Parliament.

India's Supreme Court slammed pre-election freebies, this time in a case on free electricity in Tamil Nadu. The top court has targeted such schemes in cash or kind, warning they harm fiscal discipline, economic development and work culture

Indian Supreme Court slams freebies before elections, and it's not the first time. But can anything be done about it?

At the AI Impact Summit in India, at least $200 billion worth of investments in artificial intelligence have been committed, according to reports. When the commitments by the Indian and foreign governments are added, the figure could exceed $300 billion, spread over the next five to seven years.<h2>Most investments focus on AI infrastructure</h2>Around $70 billion has been firmly committed, while $90 billion was announced in recent periods.The investment is primarily focused on AI infrastructure, data centres and compute capacity.Starting in 2026, Reliance Industries and Jio will invest nearly $110 billion (£87 billion) over the next seven years in AI and data infrastructure. This has been described as a long-term, nation-building investment.Also read: <a href="https://www.wionews.com/world/cold-war-on-stage-openai-anthropic-ceos-avoid-holding-hands-in-pm-modi-s-group-photo-at-india-ai-summit-watch-1771498694985">Cold war on stage? OpenAI, Anthropic CEOs avoid holding hands in PM Modi's group photo at India AI Summit | WATCH</a>&nbsp;The Adani Group will invest up to $150 billion through 2035 in renewable energy-powered AI data centres and related sectors such as server manufacturing and sovereign cloud services.Microsoft reportedly plans to commit $50 billion by 2030 for AI expansion in the ‘Global South’. Of this, $17.5 billion is earmarked specifically for India.<a href="https://www.wionews.com/videos/-india-ai-impact-summit-altman-amodei-skip-unity-gesture-at-delhi-summit-1771564498607/embed">https://www.wionews.com/videos/-india-ai-impact-summit-altman-amodei-skip-unity-gesture-at-delhi-summit-1771564498607/embed</a><h2>Start-ups and legacy companies increasing AI investments in India</h2>Indian data centre firm Yotta Infrastructure is investing $2 billion (£1.6 billion) in an AI hub and computing infrastructure.Smaller or partnership-focused deals have also been reported. For instance, Blackstone is leading a $600 million investment in AI cloud start-up Neysa.AMD is entering into partnerships to develop AI infrastructure in India.Google has made a $15 billion commitment to India, which includes AI data centres and an undersea cable project.Also read: <a href="https://www.wionews.com/photos/-first-china-now-korea-ai-summit-turns-into-a-disaster-as-university-caught-faking-in-house-drone-soccer-after-robodog-fiasco-1771411766909">'First China, now Korea': AI Summit turns into a disaster as university caught faking ‘in-house’ drone soccer after robodog fiasco</a><h2>Indian government commitments add to the AI investment boom</h2>Indian government initiatives such as the IndiaAI Mission have allocated around ₹10,300 crore ($1.24 billion).Several foreign governments have also made broader investment commitments in India.When all this is combined, the overall total commitment could be between 25.5 trillion rupees ($307 billion) and 58.2 trillion rupees, ($701 billion) in the long term, accoridng to multiple media reports.

India AI Impact Summit: Up to $300 billion in AI investments have been committed or announced in India by companies and governments. The investments include infrastructure and data centres, positioning India as a major global AI hub.

At the AI Impact Summit in India, at least $200 billion worth of investments in artificial intelligence have been committed, according to reports. When the commitments by the Indian and foreign governments are added, the figure could exceed $300 billion, spread over the next five to seven years. Most investments focus on AI infrastructure Around $70 billion has been firmly committed, while $90 billion was announced in recent periods. The investment is primarily focused on AI infrastructure, data centres and compute capacity. Starting in 2026, Reliance Industries and Jio will invest nearly $110 billion (£87 billion) over the next seven years in AI and data infrastructure. This has been described as a long-term, nation-building investment. Also read: Cold war on stage? OpenAI, Anthropic CEOs avoid holding hands in PM Modi's group photo at India AI Summit | WATCH The Adani Group will invest up to $150 billion through 2035 in renewable energy-powered AI data centres and related sectors such as server manufacturing and sovereign cloud services. Microsoft reportedly plans to commit $50 billion by 2030 for AI expansion in the ‘Global South’. Of this, $17.5 billion is earmarked specifically for India. https://www.wionews.com/videos/-india-ai-impact-summit-altman-amodei-skip-unity-gesture-at-delhi-summit-1771564498607/embed Start-ups and legacy companies increasing AI investments in India Indian data centre firm Yotta Infrastructure is investing $2 billion (£1.6 billion) in an AI hub and computing infrastructure. Smaller or partnership-focused deals have also been reported. For instance, Blackstone is leading a $600 million investment in AI cloud start-up Neysa. AMD is entering into partnerships to develop AI infrastructure in India. Google has made a $15 billion commitment to India, which includes AI data centres and an undersea cable project. Also read: 'First China, now Korea': AI Summit turns into a disaster as university caught faking ‘in-house’ drone soccer after robodog fiasco Indian government commitments add to the AI investment boom Indian government initiatives such as the IndiaAI Mission have allocated around ₹10,300 crore ($1.24 billion). Several foreign governments have also made broader investment commitments in India. When all this is combined, the overall total commitment could be between 25.5 trillion rupees ($307 billion) and 58.2 trillion rupees, ($701 billion) in the long term, accoridng to multiple media reports.

India AI Impact Summit: Up to $300 billion in AI investments have been committed or announced in India by companies and governments. The investments include infrastructure and data centres, positioning India as a major global AI hub.

India AI Impact Summit: $300 billion worth of AI investments committed in India, say reports

India is rewriting the rules of wealth creation, and artificial intelligence may be the most powerful tool yet in that transformation. That was the central argument Ashish Kumar Chauhan, Managing Director and CEO of the National Stock Exchange of India (NSE), made on Wednesday at a high-profile conclave in New Delhi,&nbsp; and it hit a nerve.&nbsp;Speaking at DICCI’s International Conclave on AI for Inclusion and the Future of Work 2026, held at The Park Hotel, Chauhan offered a sweeping reimagination of what economic empowerment can look like in a country that was once locked out of traditional capital formation. His phrase, “capitalism without capital,” became the defining takeaway of the session. “Earlier, you required a lot of capital to create more capital, which is why Karl Marx called it capitalism,” Chauhan told the gathering of policymakers, technologists, and investors. “Since India was capital-starved when we became independent, we could not create large factories, and that’s how we could not create even further capital.”That cycle, he argued, has decisively broken.<h2>From Scarcity to Story</h2>The shift, in Chauhan’s telling, began quietly, with services companies like Infosys and Wipro proving that intellect and execution, not industrial capital, could generate enormous wealth. Now, with India’s GDP at approximately $4.2 trillion and domestic savings running close to $1.2 trillion a year, the country is no longer capital-starved. It is capital-ready.But the more striking claim was about what comes next. Today, Chauhan said, you don’t need a balance sheet to build a business; you need a story. And if that story is compelling enough, 127 million investors on NSE’s platform are waiting to hear it.&nbsp;“If you can convince even a thousand people out of 127 million people whom NSE services directly, you will be able to get that RS1 crore, RS2 crore, RS5 crore you want,” he said, pointing to the NSE EMERGE platform, the exchange’s dedicated segment for small and medium enterprises, as a live proof of concept.<h2>The AI psych game</h2>Chauhan was equally blunt about the global AI race&nbsp;and the narrative he believes is designed to keep countries like India on the sidelines. He called the argument that AI requires trillion-dollar investments a “psych game,” a deliberate attempt by incumbents to signal the race is already over. He doesn’t buy it. “The other side is puncturing that, saying that every day I will come out with a new, better model,” he said. “That fight, let it be on.”&nbsp;His point was practical, not merely defiant. Open-source, open-weight AI models, he noted, can now run on ordinary laptops and deliver useful results across a wide range of applications. India doesn’t need to win the model-building arms race to win the AI era; it needs to build the best use cases. “You don’t have to invent, if you can, very good,” Chauhan said. “But start using stuff which is available, and start developing things which are useful to your society, people around you.” He pointed to homegrown efforts like Sarvam AI as early signals of what Indian teams can do,&nbsp; and urged the country to move from consuming global AI to tinkering with it, the same way it once built the software services industry from scratch.<h2>The electricity parallel</h2>To frame the larger opportunity, Chauhan reached for a historical analogy. AI, he said, will behave like electricity,&nbsp; a horizontal technology whose greatest beneficiaries won’t be the inventors, but the countless people and industries that learn to use it. “The inventor did not get much. It’s the people who used it later who became very rich, but the entire society benefited,” he said. “And that is true with AI.”&nbsp;The conclave, organised by the Dalit Indian Chamber of Commerce and Industry (DICCI) and supported by the Ministry of Electronics and Information Technology, was designed as a precursor to the India AI Impact Summit 2026. It brought together senior government officials, global policymakers, and industry leaders to deliberate on how artificial intelligence can be shaped as a force for equitable, not just efficient,&nbsp; growth.<h2>A closing call to grab the moment</h2>Chauhan closed with a call to action that was part economic thesis, part rallying cry. “AI is a new opportunity,&nbsp; let’s grab it with both hands,”&nbsp; he said. “The future is for us to win.” For a country that spent decades being told it lacked the capital to compete at the top table, that may be the most consequential argument of all. The DICCI conclave concluded with the adoption of the Delhi Declaration on Inclusive AI and the Future of Work, which will be formally presented at the India AI Impact Summit 2026.

India is building ‘capitalism without capital': NSE chief Ashish Chauhan

India is rewriting the rules of wealth creation, and artificial intelligence may be the most powerful tool yet in that transformation. That was the central argument Ashish Kumar Chauhan, Managing Director and CEO of the National Stock Exchange of India (NSE), made on Wednesday at a high-profile conclave in New Delhi, and it hit a nerve. Speaking at DICCI’s International Conclave on AI for Inclusion and the Future of Work 2026, held at The Park Hotel, Chauhan offered a sweeping reimagination of what economic empowerment can look like in a country that was once locked out of traditional capital formation. His phrase, “capitalism without capital,” became the defining takeaway of the session. “Earlier, you required a lot of capital to create more capital, which is why Karl Marx called it capitalism,” Chauhan told the gathering of policymakers, technologists, and investors. “Since India was capital-starved when we became independent, we could not create large factories, and that’s how we could not create even further capital.” That cycle, he argued, has decisively broken. From Scarcity to Story The shift, in Chauhan’s telling, began quietly, with services companies like Infosys and Wipro proving that intellect and execution, not industrial capital, could generate enormous wealth. Now, with India’s GDP at approximately $4.2 trillion and domestic savings running close to $1.2 trillion a year, the country is no longer capital-starved. It is capital-ready. But the more striking claim was about what comes next. Today, Chauhan said, you don’t need a balance sheet to build a business; you need a story. And if that story is compelling enough, 127 million investors on NSE’s platform are waiting to hear it. “If you can convince even a thousand people out of 127 million people whom NSE services directly, you will be able to get that RS1 crore, RS2 crore, RS5 crore you want,” he said, pointing to the NSE EMERGE platform, the exchange’s dedicated segment for small and medium enterprises, as a live proof of concept. The AI psych game Chauhan was equally blunt about the global AI race and the narrative he believes is designed to keep countries like India on the sidelines. He called the argument that AI requires trillion-dollar investments a “psych game,” a deliberate attempt by incumbents to signal the race is already over. He doesn’t buy it. “The other side is puncturing that, saying that every day I will come out with a new, better model,” he said. “That fight, let it be on.” His point was practical, not merely defiant. Open-source, open-weight AI models, he noted, can now run on ordinary laptops and deliver useful results across a wide range of applications. India doesn’t need to win the model-building arms race to win the AI era; it needs to build the best use cases. “You don’t have to invent, if you can, very good,” Chauhan said. “But start using stuff which is available, and start developing things which are useful to your society, people around you.” He pointed to homegrown efforts like Sarvam AI as early signals of what Indian teams can do, and urged the country to move from consuming global AI to tinkering with it, the same way it once built the software services industry from scratch. The electricity parallel To frame the larger opportunity, Chauhan reached for a historical analogy. AI, he said, will behave like electricity, a horizontal technology whose greatest beneficiaries won’t be the inventors, but the countless people and industries that learn to use it. “The inventor did not get much. It’s the people who used it later who became very rich, but the entire society benefited,” he said. “And that is true with AI.” The conclave, organised by the Dalit Indian Chamber of Commerce and Industry (DICCI) and supported by the Ministry of Electronics and Information Technology, was designed as a precursor to the India AI Impact Summit 2026. It brought together senior government officials, global policymakers, and industry leaders to deliberate on how artificial intelligence can be shaped as a force for equitable, not just efficient, growth. A closing call to grab the moment Chauhan closed with a call to action that was part economic thesis, part rallying cry. “AI is a new opportunity, let’s grab it with both hands,” he said. “The future is for us to win.” For a country that spent decades being told it lacked the capital to compete at the top table, that may be the most consequential argument of all. The DICCI conclave concluded with the adoption of the Delhi Declaration on Inclusive AI and the Future of Work, which will be formally presented at the India AI Impact Summit 2026.

Speaking at DICCI’s conclave in New Delhi, NSE MD &amp; CEO Ashish Kumar Chauhan declared that India has effectively built “capitalism without capital,” backed by a $4.2 trillion economy and $1.2 trillion in annual savings

Russia on Wednesday (Feb 18) vehemently rejected US suggestions that India was preparing to cut back on purchases of Russian oil. Pushing back against claims from Washington that New Delhi has agreed to halt imports of Russian crude, the Russian Foreign Ministry said it had "no reason to believe" that was true. This comes as the United States continues to claim that New Delhi has "committed" to stop importing Russian crude under the US-India trade deal. Here's all you need to know.<h2>Nothing new in Trump's claims</h2>Speaking at her weekly briefing, Russian Foreign Ministry spokesperson Maria Zakharova said Moscow sees "no reason to believe" that India has shifted its position on buying Russian hydrocarbons."India’s purchase of Russian hydrocarbons benefits both countries and helps maintain stability in the international energy market," she said, according to PTI.Also read | <a href="https://www.wionews.com/world/white-house-releases-first-official-fact-sheet-on-us-india-trade-deal-says-it-ll-open-1-4b-strong-market-to-american-goods-1770701855280">White House releases first official fact sheet on US-India trade deal; no mention of New Delhi ending Russian oil purchase</a>Zakharova also took aim at remarks by US President Donald Trump and Secretary of State Marco Rubio, who have suggested that India had committed to stopping Russian oil imports as part of broader trade negotiations with Washington."There is nothing new in the claims of US President Donald Trump, as well as US Secretary of State Marco Rubio, who have grabbed the right to dictate to independent nations," she said.<h2>What sparked the row?</h2>The comments come after a recent phone conversation between Prime Minister Narendra Modi and President Trump. Following the call, both sides announced a reduction in US tariffs on Indian goods to 18 per cent from 50 per cent. That move included scrapping a 25 per cent duty imposed by Trump last August over India’s continued purchases of Russian oil.Also read | <a href="https://www.wionews.com/india-news/white-house-revises-us-india-trade-deal-fact-sheet-removes-key-references-including-pulses-and-digital-taxes-what-changed-explained-1770781073665">White House revises US-India trade deal fact sheet, removes key references, including pulses and digital taxes: What changed? Explained</a>Soon after, Rubio said India had "committed" to stop importing Russian crude. Trump, while announcing the trade deal, also claimed that Indian PM Modi had promised to end such imports.India, however, has neither confirmed nor publicly denied the claim. Officials in New Delhi have repeatedly stated that "national interests" remain the guiding principle in energy procurement decisions.

Russia has rejected US claims that India will halt Russian oil imports under a trade deal, saying it sees no shift in New Delhi’s position. Moscow dismissed remarks by President Donald Trump and Secretary of State Marco Rubio as baseless.

Russia on Wednesday (Feb 18) vehemently rejected US suggestions that India was preparing to cut back on purchases of Russian oil. Pushing back against claims from Washington that New Delhi has agreed to halt imports of Russian crude, the Russian Foreign Ministry said it had "no reason to believe" that was true. This comes as the United States continues to claim that New Delhi has "committed" to stop importing Russian crude under the US-India trade deal. Here's all you need to know. Nothing new in Trump's claims Speaking at her weekly briefing, Russian Foreign Ministry spokesperson Maria Zakharova said Moscow sees "no reason to believe" that India has shifted its position on buying Russian hydrocarbons. "India’s purchase of Russian hydrocarbons benefits both countries and helps maintain stability in the international energy market," she said, according to PTI. Also read | White House releases first official fact sheet on US-India trade deal; no mention of New Delhi ending Russian oil purchase Zakharova also took aim at remarks by US President Donald Trump and Secretary of State Marco Rubio, who have suggested that India had committed to stopping Russian oil imports as part of broader trade negotiations with Washington. "There is nothing new in the claims of US President Donald Trump, as well as US Secretary of State Marco Rubio, who have grabbed the right to dictate to independent nations," she said. What sparked the row? The comments come after a recent phone conversation between Prime Minister Narendra Modi and President Trump. Following the call, both sides announced a reduction in US tariffs on Indian goods to 18 per cent from 50 per cent. That move included scrapping a 25 per cent duty imposed by Trump last August over India’s continued purchases of Russian oil. Also read | White House revises US-India trade deal fact sheet, removes key references, including pulses and digital taxes: What changed? Explained Soon after, Rubio said India had "committed" to stop importing Russian crude. Trump, while announcing the trade deal, also claimed that Indian PM Modi had promised to end such imports. India, however, has neither confirmed nor publicly denied the claim. Officials in New Delhi have repeatedly stated that "national interests" remain the guiding principle in energy procurement decisions.

Russia has rejected US claims that India will halt Russian oil imports under a trade deal, saying it sees no shift in New Delhi’s position. Moscow dismissed remarks by President Donald Trump and Secretary of State Marco Rubio as baseless.

Moscow blasts US claim India will ditch Russian oil, says Trump trying to 'grab right to dictate to independent nations'

Former British Prime Minister Rishi Sunak pointed out the difference in the approach of various countries towards artificial intelligence and said he finds there is enormous optimism and trust towards AI in India, unlike in Western countries that still have a dominating feeling of anxiety for the emerging technology. Speaking at an event titled ‘Governing in the Age of AI: Sovereignty, Impact, and Strategy’ at the AI Impact Summit in New Delhi on Wednesday, Sunak said that addressing this disparity in public confidence remains a critical challenge for leaders worldwide.&nbsp;In a fireside chat with Meta’s Chief AI Officer Alexandr Wang at the India AI Impact Summit 2026 in New Delhi, Sunak said, “Across the world, we’re seeing different attitudes towards AI. In countries like India, there’s enormous optimism and trust, and in Western countries, we’re seeing that anxiety is still the dominant feeling towards AI."&nbsp;&nbsp;Also Read: <a href="https://www.wionews.com/india-news/govt-extends-ai-impact-summit-by-a-day-amid-record-turnout-event-to-go-on-till-feb-21-1771411580595">Govt extends AI Impact Summit by a day amid record turnout, event to go on till Feb 21</a>&nbsp;&nbsp;The former UK prime minister said bridging this divide would require more than technological progress alone and called for deliberate policy interventions to foster greater public trust.&nbsp;&nbsp;“I think closing that confidence gap is as much a policy task as it is a technical one,” he added.&nbsp;&nbsp;&nbsp;<h2>‘India a country with huge digital ambitions and capacity’</h2>&nbsp;Sunak described India as “a country with huge digital ambitions and capacity’ and underlined the extraordinary scale of recent AI investments. “This year, the large AI companies are going to spend 20 times more on developing this technology than the US did for the Manhattan Project,” he said.&nbsp;&nbsp;Sunak’s observations came in a fireside chat with Meta’s Alexandr Wang on the sidelines of the AI Impact Summit 2026.&nbsp;&nbsp;Also Read: <a href="https://www.wionews.com/india-news/pm-modi-hold-talks-with-google-ceo-sundar-pichai-at-india-ai-impact-summit-discuss-ai-innovation-and-talent-development-1771409823534">PM Modi hold talks with Google CEO Sundar Pichai at India AI Impact Summit; discuss AI innovation and talent development</a>&nbsp;The summit has brought together government policymakers, industry AI experts, academicians, technology innovators, and civil society representatives from across the world to advance global discussions on artificial intelligence.&nbsp;&nbsp;It aims to reflect on the transformative potential of AI, aligning with India’s national vision of ‘Sarvajana hitaye, sarvajana sukhaye’ (welfare for all, happiness for all) and the global principle of AI for Humanity.&nbsp;&nbsp;Also Read: <a href="https://www.wionews.com/india-news/eci-announces-rajya-sabha-polls-for-37-seats-across-10-states-on-march-16-1771409050709">ECI announces Rajya Sabha polls for 37 seats across 10 states on March 16</a>&nbsp;<h2>‘There are more consumer AI startups in India than in US’</h2>&nbsp;Meta’s Chief AI Officer Wang also hailed India’s rising stature in the AI ecosystem and said, “I was at a dinner with a number of Indian founders and venture capitalists last night, and the statistic was that there are more consumer AI startups in India than in the United States.”&nbsp;Guided by the three foundational Sutras—People, Planet, and Progress—the India AI Impact Summit 2026 promotes human-centric AI that safeguards rights and ensures equitable benefits across societies, environmentally sustainable advancement of AI, and inclusive economic and technological progress.&nbsp;&nbsp;

Former UK PM Rishi Sunak described India as a country with huge digital ambitions and capacity and said this year, the large AI companies are going to spend 20 times more on developing this technology than the US did for the Manhattan Project.

Former British Prime Minister Rishi Sunak pointed out the difference in the approach of various countries towards artificial intelligence and said he finds there is enormous optimism and trust towards AI in India, unlike in Western countries that still have a dominating feeling of anxiety for the emerging technology. Speaking at an event titled ‘Governing in the Age of AI: Sovereignty, Impact, and Strategy’ at the AI Impact Summit in New Delhi on Wednesday, Sunak said that addressing this disparity in public confidence remains a critical challenge for leaders worldwide. In a fireside chat with Meta’s Chief AI Officer Alexandr Wang at the India AI Impact Summit 2026 in New Delhi, Sunak said, “Across the world, we’re seeing different attitudes towards AI. In countries like India, there’s enormous optimism and trust, and in Western countries, we’re seeing that anxiety is still the dominant feeling towards AI." Also Read: Govt extends AI Impact Summit by a day amid record turnout, event to go on till Feb 21 The former UK prime minister said bridging this divide would require more than technological progress alone and called for deliberate policy interventions to foster greater public trust. “I think closing that confidence gap is as much a policy task as it is a technical one,” he added. ‘India a country with huge digital ambitions and capacity’ Sunak described India as “a country with huge digital ambitions and capacity’ and underlined the extraordinary scale of recent AI investments. “This year, the large AI companies are going to spend 20 times more on developing this technology than the US did for the Manhattan Project,” he said. Sunak’s observations came in a fireside chat with Meta’s Alexandr Wang on the sidelines of the AI Impact Summit 2026. Also Read: PM Modi hold talks with Google CEO Sundar Pichai at India AI Impact Summit; discuss AI innovation and talent development The summit has brought together government policymakers, industry AI experts, academicians, technology innovators, and civil society representatives from across the world to advance global discussions on artificial intelligence. It aims to reflect on the transformative potential of AI, aligning with India’s national vision of ‘Sarvajana hitaye, sarvajana sukhaye’ (welfare for all, happiness for all) and the global principle of AI for Humanity. Also Read: ECI announces Rajya Sabha polls for 37 seats across 10 states on March 16 ‘There are more consumer AI startups in India than in US’ Meta’s Chief AI Officer Wang also hailed India’s rising stature in the AI ecosystem and said, “I was at a dinner with a number of Indian founders and venture capitalists last night, and the statistic was that there are more consumer AI startups in India than in the United States.” Guided by the three foundational Sutras—People, Planet, and Progress—the India AI Impact Summit 2026 promotes human-centric AI that safeguards rights and ensures equitable benefits across societies, environmentally sustainable advancement of AI, and inclusive economic and technological progress.

Former UK PM Rishi Sunak described India as a country with huge digital ambitions and capacity and said this year, the large AI companies are going to spend 20 times more on developing this technology than the US did for the Manhattan Project.

Former UK PM Rishi Sunak hails India’s ‘enormous optimism, trust for AI,’ unlike scepticism in West

I am writing this from New Delhi, on the second day of the AI Summit, 17th February. The air here is electric. Not because of the weather. But because what is being discussed inside these halls could change the lives of every single Indian—from a farmer in Punjab to a teenager in a small town in Tamil Nadu.&nbsp;Let me start with what Prime Minister Narendra Modi said just a short while ago. He gave an interview to ANI, the Indian news agency. And his words were bold. He said he wants India to be among the top three AI superpowers in the world. Not just as a country that uses AI tools made by others, but as a country that actually builds them. He said Indian AI models should serve billions of people in their own native languages. He said Indian AI startups should one day be worth hundreds of billions of dollars and create millions of good jobs. That is the dream on the table.&nbsp;Now, big dreams need big money. And that is exactly what Day Two of this summit was all about.&nbsp;The headline number is $200 billion. Yes, two hundred billion dollars. That is how much investment India is expecting to attract in AI over the next two years. This was announced by Ashwini Vaishnaw, India’s Minister for Electronics and IT. He also added that another $17 billion is expected separately—mainly for advanced AI research and real products that people actually use, like health apps, chatbots, and translation tools.&nbsp;So where exactly will this money go? To understand that, you need to understand something called the five layers of AI. Think of it like a five-floor building. Every floor matters. Remove one, and the whole structure collapses.&nbsp;The ground floor is energy. AI systems run on enormous amounts of electricity. Without reliable and affordable power, nothing else is possible. That is why energy comes first.&nbsp;The second floor is data centres and networks. Think of data centres as giant warehouses where all digital information is stored and processed. And networks—your internet, broadband, 5G—are the highways that carry that information from one place to another. Without these highways and warehouses, AI has nowhere to live and no way to move.&nbsp;The third floor is compute—meaning chips and semiconductors. These are the muscle of AI. They do the actual heavy lifting, processing millions of calculations every second. Without powerful chips, AI cannot function at speed, especially when millions of people are using it at the same time.&nbsp;The fourth floor is the AI model itself. This is the brain. It is trained on vast amounts of data—the way a person learns by reading thousands of books over years. It finds patterns in that data and uses those patterns to answer questions, make predictions, or take decisions. This is what powers tools like ChatGPT.&nbsp;The fifth and top floor is applications. This is the part you and I actually touch and use—a chatbot answering your question, an app diagnosing a health condition, a platform helping a farmer decide when to water his crops. These are the real products that bring AI from laboratories into everyday life.&nbsp;Most of the $200 billion will go into the lower floors—energy, infrastructure, data centres, and chips. The additional $17 billion will go into the upper floors—the models and the apps.&nbsp;Now, global giants are already moving. OpenAI, which created ChatGPT, has been in India for a while. On 16th February, Anthropic—another major AI company—announced it is opening an office in Bengaluru. This is not just about renting a desk somewhere. These companies are building real partnerships with Indian businesses and even the government. Air India is using Anthropic’s AI tool, Claude, to build custom software. Cognizant is rolling it out to its employees worldwide. Infosys will work with Anthropic to build AI agents—think of them as smart digital helpers—for industries like telecom and banking.&nbsp;Google and Meta are also expanding their data centres in India. The message is clear: India is no longer just a market where foreign companies sell their products. India is becoming a partner—a place where AI is built together.&nbsp;But here is the crucial part. India cannot depend entirely on foreign AI. Western models are powerful, but they often do not understand India deeply. India has 22 official languages and hundreds of dialects. Most Indians do not use English in their daily lives. And most global AI tools still struggle with this reality.&nbsp;This is why two Indian-made AI projects matter. BharatGen, backed by the government, has unveiled Param-2, a model trained on all 22 scheduled Indian languages. Sarvam AI, an Indian startup, has launched an on-device AI that works even without internet—perfect for villages with weak connectivity.&nbsp;The summit’s biggest days are still ahead—19th and 20th February. French President Macron will speak. PM Modi will address the gathering. More announcements are expected.&nbsp;India’s AI moment has arrived. The only question is how well India grabs it.&nbsp;(Disclaimer: The views of the writer do not represent the views of WION or ZMCL. Nor does WION or ZMCL endorse the views of the writer.)

India’s AI Summit highlights Prime Minister Narendra Modi’s bold vision, massive investments, and rising partnerships as India races to build its own multilingual AI future.

I am writing this from New Delhi, on the second day of the AI Summit, 17th February. The air here is electric. Not because of the weather. But because what is being discussed inside these halls could change the lives of every single Indian—from a farmer in Punjab to a teenager in a small town in Tamil Nadu. Let me start with what Prime Minister Narendra Modi said just a short while ago. He gave an interview to ANI, the Indian news agency. And his words were bold. He said he wants India to be among the top three AI superpowers in the world. Not just as a country that uses AI tools made by others, but as a country that actually builds them. He said Indian AI models should serve billions of people in their own native languages. He said Indian AI startups should one day be worth hundreds of billions of dollars and create millions of good jobs. That is the dream on the table. Now, big dreams need big money. And that is exactly what Day Two of this summit was all about. The headline number is $200 billion. Yes, two hundred billion dollars. That is how much investment India is expecting to attract in AI over the next two years. This was announced by Ashwini Vaishnaw, India’s Minister for Electronics and IT. He also added that another $17 billion is expected separately—mainly for advanced AI research and real products that people actually use, like health apps, chatbots, and translation tools. So where exactly will this money go? To understand that, you need to understand something called the five layers of AI. Think of it like a five-floor building. Every floor matters. Remove one, and the whole structure collapses. The ground floor is energy. AI systems run on enormous amounts of electricity. Without reliable and affordable power, nothing else is possible. That is why energy comes first. The second floor is data centres and networks. Think of data centres as giant warehouses where all digital information is stored and processed. And networks—your internet, broadband, 5G—are the highways that carry that information from one place to another. Without these highways and warehouses, AI has nowhere to live and no way to move. The third floor is compute—meaning chips and semiconductors. These are the muscle of AI. They do the actual heavy lifting, processing millions of calculations every second. Without powerful chips, AI cannot function at speed, especially when millions of people are using it at the same time. The fourth floor is the AI model itself. This is the brain. It is trained on vast amounts of data—the way a person learns by reading thousands of books over years. It finds patterns in that data and uses those patterns to answer questions, make predictions, or take decisions. This is what powers tools like ChatGPT. The fifth and top floor is applications. This is the part you and I actually touch and use—a chatbot answering your question, an app diagnosing a health condition, a platform helping a farmer decide when to water his crops. These are the real products that bring AI from laboratories into everyday life. Most of the $200 billion will go into the lower floors—energy, infrastructure, data centres, and chips. The additional $17 billion will go into the upper floors—the models and the apps. Now, global giants are already moving. OpenAI, which created ChatGPT, has been in India for a while. On 16th February, Anthropic—another major AI company—announced it is opening an office in Bengaluru. This is not just about renting a desk somewhere. These companies are building real partnerships with Indian businesses and even the government. Air India is using Anthropic’s AI tool, Claude, to build custom software. Cognizant is rolling it out to its employees worldwide. Infosys will work with Anthropic to build AI agents—think of them as smart digital helpers—for industries like telecom and banking. Google and Meta are also expanding their data centres in India. The message is clear: India is no longer just a market where foreign companies sell their products. India is becoming a partner—a place where AI is built together. But here is the crucial part. India cannot depend entirely on foreign AI. Western models are powerful, but they often do not understand India deeply. India has 22 official languages and hundreds of dialects. Most Indians do not use English in their daily lives. And most global AI tools still struggle with this reality. This is why two Indian-made AI projects matter. BharatGen, backed by the government, has unveiled Param-2, a model trained on all 22 scheduled Indian languages. Sarvam AI, an Indian startup, has launched an on-device AI that works even without internet—perfect for villages with weak connectivity. The summit’s biggest days are still ahead—19th and 20th February. French President Macron will speak. PM Modi will address the gathering. More announcements are expected. India’s AI moment has arrived. The only question is how well India grabs it. (Disclaimer: The views of the writer do not represent the views of WION or ZMCL. Nor does WION or ZMCL endorse the views of the writer.)

India’s AI Summit highlights Prime Minister Narendra Modi’s bold vision, massive investments, and rising partnerships as India races to build its own multilingual AI future.

From chips to chatbots: How India is chasing AI billions

The government has extended the India AI Impact Summit 2026 by a day after some unexpectedly large turnout at the event at Bharat Mandapam signals growing public and industry interest in India’s artificial intelligence ambitions. IT Secretary S. Krishnan announced on Wednesday that the exhibition will now remain open through February 21. Besides, the visiting hours have also been extended until 8 pm to ease crowd movement. However, access to the public will be suspended on February 19 due to high-level security arrangements due to the Prime Minister’s inaugural address and restricted-entry engagements with global CEOs.&nbsp;Authorities started staggered access and revised entry-exit protocols to manage the heavy footfall at the ITPO complex and issued some advisories for the events.&nbsp;&nbsp;<h2>Summit enters Guinness World Records as over 2.5 lakh students take AI pledge</h2>&nbsp;The AI Impact Summit entered the Guinness World Records after 2,50,946 students pledged to use AI responsibly within 24 hours—far surpassing the original target of 5,000.&nbsp;The pledge underscores the government’s attempt to balance rapid AI adoption with ethical safeguards.&nbsp;India is positioning itself as a champion of “responsible AI” even as global regulators debate AI safety frameworks.&nbsp;Also Read: <a href="https://www.wionews.com/india-news/pm-modi-hold-talks-with-google-ceo-sundar-pichai-at-india-ai-impact-summit-discuss-ai-innovation-and-talent-development-1771409823534">PM Modi hold talks with Google CEO Sundar Pichai at India AI Impact Summit; discuss AI innovation and talent development</a>&nbsp;Union IT Minister Ashwini Vaishnaw said over three lakh people have registered for the summit so far, describing the turnout as a “very strong response” that reflects growing enthusiasm around artificial intelligence. He added that nearly 2.5 lakh people—most of them under the age of 30—have already visited the exhibition area.&nbsp;<h2>Registration temporarily closed due to overwhelming response</h2>&nbsp;Registration for the summit has been temporarily closed on its official website due to an “overwhelming response,” highlighting the surge in public interest in artificial intelligence.&nbsp;&nbsp;Also Read: <a href="https://www.wionews.com/india-news/eci-announces-rajya-sabha-polls-for-37-seats-across-10-states-on-march-16-1771409050709">ECI announces Rajya Sabha polls for 37 seats across 10 states on March 16</a>&nbsp;The summit, inaugurated by Prime Minister Narendra Modi on Monday, has drawn participation from world leaders, top executives from major technology companies and delegates from around 45 countries.&nbsp;The summit brings together global technology firms, startups, academia and research institutions, Union ministries, state governments and international partners.&nbsp;According to the government, the exhibition is designed to demonstrate AI in action, where policy meets practice and innovation meets scale, while fostering new partnerships and business opportunities within the global AI ecosystem.

The India AI Impact Summit also entered the Guinness World Records after 2,50,946 students took a pledge to use AI responsibly within 24 hours, surpassing the target of 5,000. The pledge underscores the Indian government’s attempt to balance rapid AI adoption with ethical safeguards.

The government has extended the India AI Impact Summit 2026 by a day after some unexpectedly large turnout at the event at Bharat Mandapam signals growing public and industry interest in India’s artificial intelligence ambitions. IT Secretary S. Krishnan announced on Wednesday that the exhibition will now remain open through February 21. Besides, the visiting hours have also been extended until 8 pm to ease crowd movement. However, access to the public will be suspended on February 19 due to high-level security arrangements due to the Prime Minister’s inaugural address and restricted-entry engagements with global CEOs. Authorities started staggered access and revised entry-exit protocols to manage the heavy footfall at the ITPO complex and issued some advisories for the events. Summit enters Guinness World Records as over 2.5 lakh students take AI pledge The AI Impact Summit entered the Guinness World Records after 2,50,946 students pledged to use AI responsibly within 24 hours—far surpassing the original target of 5,000. The pledge underscores the government’s attempt to balance rapid AI adoption with ethical safeguards. India is positioning itself as a champion of “responsible AI” even as global regulators debate AI safety frameworks. Also Read: PM Modi hold talks with Google CEO Sundar Pichai at India AI Impact Summit; discuss AI innovation and talent development Union IT Minister Ashwini Vaishnaw said over three lakh people have registered for the summit so far, describing the turnout as a “very strong response” that reflects growing enthusiasm around artificial intelligence. He added that nearly 2.5 lakh people—most of them under the age of 30—have already visited the exhibition area. Registration temporarily closed due to overwhelming response Registration for the summit has been temporarily closed on its official website due to an “overwhelming response,” highlighting the surge in public interest in artificial intelligence. Also Read: ECI announces Rajya Sabha polls for 37 seats across 10 states on March 16 The summit, inaugurated by Prime Minister Narendra Modi on Monday, has drawn participation from world leaders, top executives from major technology companies and delegates from around 45 countries. The summit brings together global technology firms, startups, academia and research institutions, Union ministries, state governments and international partners. According to the government, the exhibition is designed to demonstrate AI in action, where policy meets practice and innovation meets scale, while fostering new partnerships and business opportunities within the global AI ecosystem.

The India AI Impact Summit also entered the Guinness World Records after 2,50,946 students took a pledge to use AI responsibly within 24 hours, surpassing the target of 5,000. The pledge underscores the Indian government’s attempt to balance rapid AI adoption with ethical safeguards.

Govt extends AI Impact Summit by a day amid record turnout, event to go on till Feb 21

The UK's unemployment rate has risen to 5.2 per cent, reaching the highest level in nearly five years. It fueled expectations of a possible interest rate cut in the spring as pay growth continues to ease. The unemployment rate reached 5.2% in the three months ending December, the highest since the period to January 2021. The data matched economists' forecasts and rose from 5.1 per cent in the three months to November, according to the Office for National Statistics.&nbsp;Since 2022, the UK has steadily experienced joblessness. In response, several businesses argued that recent tax increases introduced by Rachel Reeves in her last two budgets have added pressure, mainly higher national insurance contributions and minimum wage hikes.&nbsp;Economists noted that younger workers are being hit hardest by the hiring slowdown. Joblessness among 18- to 24-year-olds rose to 14 per cent in the three months to December, the highest level in five years, or nearly 11 years excluding the pandemic, raising concerns that the UK is slipping in global rankings for youth employment.&nbsp;“Higher labour costs, reflecting last year’s increase in employer NICs and rises in the adult minimum wage, appear to be weighing most heavily on entry-level hiring. At the same time, firms are likely reassessing junior roles in the face of rapid advances in AI," Martin Beck, the chief economist at WPI Strategy, said, the Guardian reported.<h3>Wages in Great Britain increase</h3>Till December 2025, average earnings in Great Britain excluding bonuses increased by 4.2 per cent, slowing from 4.4 per cent the previous month. Wage growth in the private-sector rosed to 3.4 per cent, marking the weakest level in 5 years, while public sector wages rose sharply by 7.2 per cent. Once adjusted for inflation, real annual pay excluding bonuses increased by just 0.8 per cent in October to December, marking the slowest rise since August 2023.&nbsp;The economics director at the Institute of Chartered Accountants in England and Wales, Suren Thiru, said, “This slackening in pay growth is likely to gather momentum in the coming months as the downward pressure from mounting lay-offs and higher employment costs increasingly weakens workers’ bargaining position.”&nbsp;The number of employees on company payrolls continued to decline, falling by 134,000 compared with a year earlier and by 46,000 over the quarter. Payroll figures also dropped by 11,000 in January on a monthly basis. Meanwhile, the Office for National Statistics revised its earlier estimate of a steep monthly fall in December payrolls. What was initially reported as a drop of 43,000 from November was later adjusted to a much smaller decline of just 6,000.&nbsp;Also read: <a href="https://www.wionews.com/business-economy/tata-1mg-ipo-likely-after-fy27-ceo-prashant-tandon-says-profitability-holds-the-key-1771327720075">Tata 1mg IPO likely after FY27, CEO Prashant Tandon says profitability holds the key</a>

Businesses in the UK argued that recent tax increases introduced by Rachel Reeves in her last two budgets have added pressure, mainly higher national insurance contributions and minimum wage hikes.

The UK's unemployment rate has risen to 5.2 per cent, reaching the highest level in nearly five years. It fueled expectations of a possible interest rate cut in the spring as pay growth continues to ease. The unemployment rate reached 5.2% in the three months ending December, the highest since the period to January 2021. The data matched economists' forecasts and rose from 5.1 per cent in the three months to November, according to the Office for National Statistics. Since 2022, the UK has steadily experienced joblessness. In response, several businesses argued that recent tax increases introduced by Rachel Reeves in her last two budgets have added pressure, mainly higher national insurance contributions and minimum wage hikes. Economists noted that younger workers are being hit hardest by the hiring slowdown. Joblessness among 18- to 24-year-olds rose to 14 per cent in the three months to December, the highest level in five years, or nearly 11 years excluding the pandemic, raising concerns that the UK is slipping in global rankings for youth employment. “Higher labour costs, reflecting last year’s increase in employer NICs and rises in the adult minimum wage, appear to be weighing most heavily on entry-level hiring. At the same time, firms are likely reassessing junior roles in the face of rapid advances in AI," Martin Beck, the chief economist at WPI Strategy, said, the Guardian reported. Wages in Great Britain increase Till December 2025, average earnings in Great Britain excluding bonuses increased by 4.2 per cent, slowing from 4.4 per cent the previous month. Wage growth in the private-sector rosed to 3.4 per cent, marking the weakest level in 5 years, while public sector wages rose sharply by 7.2 per cent. Once adjusted for inflation, real annual pay excluding bonuses increased by just 0.8 per cent in October to December, marking the slowest rise since August 2023. The economics director at the Institute of Chartered Accountants in England and Wales, Suren Thiru, said, “This slackening in pay growth is likely to gather momentum in the coming months as the downward pressure from mounting lay-offs and higher employment costs increasingly weakens workers’ bargaining position.” The number of employees on company payrolls continued to decline, falling by 134,000 compared with a year earlier and by 46,000 over the quarter. Payroll figures also dropped by 11,000 in January on a monthly basis. Meanwhile, the Office for National Statistics revised its earlier estimate of a steep monthly fall in December payrolls. What was initially reported as a drop of 43,000 from November was later adjusted to a much smaller decline of just 6,000. Also read: Tata 1mg IPO likely after FY27, CEO Prashant Tandon says profitability holds the key

Businesses in the UK argued that recent tax increases introduced by Rachel Reeves in her last two budgets have added pressure, mainly higher national insurance contributions and minimum wage hikes.

UK unemployment rate surges to 5-year high at 5.2%, youth hit hardest

Dalal Street saw a flurry of IPOs in 2025 and the momentum continues in 2026. What particularly caught eyeballs, not just of institutional investors but also retail investors, were the listings of household names like Lenskart, Meesho, Groww and Urban Company, among others. Another such name to join the list sometime after March 2027 could be digital healthcare platform Tata 1mg. CEO Prashant Tandon, without committing to an official timeline, asserted that the firm would be ready to start working towards a listing once it turns entirely profitable.&nbsp;“The company will be ready within a year or two. We would list it as a profitable company, not as a loss-making company. So once we achieve the milestone that we need to, after that the shareholders will take it,” he said in an exclusive interaction with Wion, on the sidelines of the Global Business Summit in New Delhi on February 13.&nbsp;Also Read: <a href="https://www.wionews.com/trending/epstein-list-fallout-bill-gates-out-of-ai-impact-summit-despite-being-in-india-official-word-awaited-1771310133247">AI Summit website shows Bill Gates attending as planned after name vanishes. Here is when he is speaking</a><h2>Tata 1mg aims for profitability in FY27</h2>When asked how long it would take for Tata 1mg to become profitable, Tandon said while aggressive investment in brick-and-mortar expansion is underway, the core business already turned profitable in December 2025. It gives comfort and confidence that the rest of the business is sustainable and positive, he said. &nbsp;“And when will we become profitable? In the coming financial year, we will. FY27. By Q4, the entire business, net of all investments, should be. That is what we are targeting,” he told Wion.<h2>Why is Tata 1mg taking the omnichannel route?</h2>Tandon’s comments come at a time when Tata 1mg is eyeing to open 500 stores by the end of 2026. When asked about the rationale behind the shift to omnichannel, he said, having a physical location complements the digital channel. “Everything is digital. The only question is what is the channel of access? It used to be an app and a web. Now, you can walk into a store as well… It is actually working very well for consumer retention. Earlier they were buying only chronic medicines from us. Now they also buy their acute medicines as they need from our brick-and-mortar store.”&nbsp;Also Read: <a href="https://www.wionews.com/trending/what-is-sarvam-kaze-india-s-first-indigenous-glasses-pm-modi-wore-at-ai-impact-summit-2026-1771319066279">What is Sarvam Kaze? India's first indigenous glasses PM Modi wore at AI Impact Summit 2026</a>&nbsp;He added that since the firm has its own physical store in an area, it is also able to do 30 minute-deliveries in an economically profitable manner, just like a normal neighborhood store would do. He explained that a typical retail store in a pharmacy can keep about 3,000 to 5,000 stock keeping units (SKUs), which is a specific product variation. Tata 1mg has almost eight lakh SKUs. If one doesn’t get the medicine they need, it would be delivered by evening through the digital network. “Our online channel will ensure you get it from somewhere in the country.”&nbsp;“So, the business model is actually very strong and solid. And all said and done, 96-97% of India is still getting their medicines offline…Our aspiration is to be one of the leading providers of healthcare products and services, the next phase of our evolution is to move where the world is going, to Omnichannel.”<h2>Global expansion not on the cards yet</h2>Meanwhile, Tata 1mg has ruled out any immediate overseas expansion plans. Tandon said there is significant inbound interest from global markets, however, India currently presents a massive untapped opportunity, with Tata 1mg still holding less than one percent of market share. International expansion is possible long-term, but not in the near future, he clarified.<h2>‘Biopharma may be a turnaround opportunity for India’</h2>Reflecting on the healthcare sector as a whole in India, Tandon said biosimilars and biopharma are turning out to be interesting stories where the world's value pool is moving. “In the budget also, Rs 10,000 crore was announced for biopharma. That is where we needed to find a way to kickstart this ecosystem…Now that the government has articulated at least capital support, I'm very excited. Finally, we might have some innovative molecules come out of India as well,” he said.

Tata 1mg plans a potential IPO after achieving full profitability, likely post-FY27. CEO Prashant Tandon said the company is focusing on sustainable growth via omnichannel expansion, aiming to open 500 stores while strengthening its digital healthcare presence in India.

Dalal Street saw a flurry of IPOs in 2025 and the momentum continues in 2026. What particularly caught eyeballs, not just of institutional investors but also retail investors, were the listings of household names like Lenskart, Meesho, Groww and Urban Company, among others. Another such name to join the list sometime after March 2027 could be digital healthcare platform Tata 1mg. CEO Prashant Tandon, without committing to an official timeline, asserted that the firm would be ready to start working towards a listing once it turns entirely profitable. “The company will be ready within a year or two. We would list it as a profitable company, not as a loss-making company. So once we achieve the milestone that we need to, after that the shareholders will take it,” he said in an exclusive interaction with Wion, on the sidelines of the Global Business Summit in New Delhi on February 13. Also Read: AI Summit website shows Bill Gates attending as planned after name vanishes. Here is when he is speaking Tata 1mg aims for profitability in FY27 When asked how long it would take for Tata 1mg to become profitable, Tandon said while aggressive investment in brick-and-mortar expansion is underway, the core business already turned profitable in December 2025. It gives comfort and confidence that the rest of the business is sustainable and positive, he said. “And when will we become profitable? In the coming financial year, we will. FY27. By Q4, the entire business, net of all investments, should be. That is what we are targeting,” he told Wion. Why is Tata 1mg taking the omnichannel route? Tandon’s comments come at a time when Tata 1mg is eyeing to open 500 stores by the end of 2026. When asked about the rationale behind the shift to omnichannel, he said, having a physical location complements the digital channel. “Everything is digital. The only question is what is the channel of access? It used to be an app and a web. Now, you can walk into a store as well… It is actually working very well for consumer retention. Earlier they were buying only chronic medicines from us. Now they also buy their acute medicines as they need from our brick-and-mortar store.” Also Read: What is Sarvam Kaze? India's first indigenous glasses PM Modi wore at AI Impact Summit 2026 He added that since the firm has its own physical store in an area, it is also able to do 30 minute-deliveries in an economically profitable manner, just like a normal neighborhood store would do. He explained that a typical retail store in a pharmacy can keep about 3,000 to 5,000 stock keeping units (SKUs), which is a specific product variation. Tata 1mg has almost eight lakh SKUs. If one doesn’t get the medicine they need, it would be delivered by evening through the digital network. “Our online channel will ensure you get it from somewhere in the country.” “So, the business model is actually very strong and solid. And all said and done, 96-97% of India is still getting their medicines offline…Our aspiration is to be one of the leading providers of healthcare products and services, the next phase of our evolution is to move where the world is going, to Omnichannel.” Global expansion not on the cards yet Meanwhile, Tata 1mg has ruled out any immediate overseas expansion plans. Tandon said there is significant inbound interest from global markets, however, India currently presents a massive untapped opportunity, with Tata 1mg still holding less than one percent of market share. International expansion is possible long-term, but not in the near future, he clarified. ‘Biopharma may be a turnaround opportunity for India’ Reflecting on the healthcare sector as a whole in India, Tandon said biosimilars and biopharma are turning out to be interesting stories where the world's value pool is moving. “In the budget also, Rs 10,000 crore was announced for biopharma. That is where we needed to find a way to kickstart this ecosystem…Now that the government has articulated at least capital support, I'm very excited. Finally, we might have some innovative molecules come out of India as well,” he said.

Tata 1mg plans a potential IPO after achieving full profitability, likely post-FY27. CEO Prashant Tandon said the company is focusing on sustainable growth via omnichannel expansion, aiming to open 500 stores while strengthening its digital healthcare presence in India.

Tata 1mg IPO likely after FY27, CEO Prashant Tandon says profitability holds the key

India has significantly increased its financial commitment to fighting climate change, with spending on climate action rising from 3.7 per cent of the Gross Domestic Product (GDP) six years ago to nearly 5.6 per cent today. Union Finance Minister Nirmala Sitharaman shared these figures while speaking at the 'Degrees of Instability: Climate Security in a Warming World' town hall in Munich, Germany, on Saturday. She emphasised that India is not merely waiting for international aid but is proactively investing its own resources to meet environmental goals. "India has increased its commitment to climate action. We were at something like 3.7 per cent of our GDP six years ago... but today, we are somewhere close to 5.6 per cent. So more than doubled in a matter of six years," the Finance Minister stated. She noted that while India continues to seek global technology and funds, it has moved forward with its own money to achieve its nationally determined commitments. She also highlighted the challenges faced by other regions, noting that many African countries may struggle to reach such high levels of spending due to their own economic limitations. Beyond spending, Sitharaman called for a balanced approach that focuses as much on resilience and adaptation as it does on emission control. She warned that failing to focus on adaptation could put human lives and livestock at risk. The Finance Minister argued that the global community must adopt a "polluter pays" principle, where the cost of climate action is shared fairly based on a country's historical contribution to emissions. "As much attention we give to emission control, we need to look at resilience and adaptation. Second, technologies will have to talk to each other. And third, differentiated treatment for paying for it. It cannot be that countries which have contributed less to emissions are made to pay equally," she said. Detailing India's domestic efforts, Sitharaman pointed out that the country is well ahead of its renewable energy targets, having achieved two-thirds of its commitments four years earlier than planned. She also mentioned that the Union Budget 2026-27 provides specific funding and incentives for carbon capture strategies. These technologies are being encouraged across the mainland and in remote areas to help businesses reduce their carbon footprint while supporting India's transition to a greener economy.&nbsp;Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

 Union Finance Minister Nirmala Sitharaman emphasised that India is not merely waiting for international aid but is proactively investing its own resources to meet environmental goals.

India has significantly increased its financial commitment to fighting climate change, with spending on climate action rising from 3.7 per cent of the Gross Domestic Product (GDP) six years ago to nearly 5.6 per cent today. Union Finance Minister Nirmala Sitharaman shared these figures while speaking at the 'Degrees of Instability: Climate Security in a Warming World' town hall in Munich, Germany, on Saturday. She emphasised that India is not merely waiting for international aid but is proactively investing its own resources to meet environmental goals. "India has increased its commitment to climate action. We were at something like 3.7 per cent of our GDP six years ago... but today, we are somewhere close to 5.6 per cent. So more than doubled in a matter of six years," the Finance Minister stated. She noted that while India continues to seek global technology and funds, it has moved forward with its own money to achieve its nationally determined commitments. She also highlighted the challenges faced by other regions, noting that many African countries may struggle to reach such high levels of spending due to their own economic limitations. Beyond spending, Sitharaman called for a balanced approach that focuses as much on resilience and adaptation as it does on emission control. She warned that failing to focus on adaptation could put human lives and livestock at risk. The Finance Minister argued that the global community must adopt a "polluter pays" principle, where the cost of climate action is shared fairly based on a country's historical contribution to emissions. "As much attention we give to emission control, we need to look at resilience and adaptation. Second, technologies will have to talk to each other. And third, differentiated treatment for paying for it. It cannot be that countries which have contributed less to emissions are made to pay equally," she said. Detailing India's domestic efforts, Sitharaman pointed out that the country is well ahead of its renewable energy targets, having achieved two-thirds of its commitments four years earlier than planned. She also mentioned that the Union Budget 2026-27 provides specific funding and incentives for carbon capture strategies. These technologies are being encouraged across the mainland and in remote areas to help businesses reduce their carbon footprint while supporting India's transition to a greener economy. Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

&nbsp;Union Finance Minister Nirmala Sitharaman emphasised that India is not merely waiting for international aid but is proactively investing its own resources to meet environmental goals.

India doubles climate action spending in 6 years, raises to nearly 6% of GDP: Finance Minister

Amazon's shares continued to slide on Friday, falling $0.81, or 0.41 per cent, to $198.79. The stock has consistently declined for nine consecutive trading sessions, marking Amazon's longest losing streak since July 14, 2006. Currently, Amazon's shares are on pace for their lowest close since May 9, 2025.&nbsp;The stock has now declined in 12 of the past 13 trading days and is down 18.18 per cent over the current nine-day stretch. This represents Amazon’s worst nine-day performance since the period ending Nov. 9, 2022, when the shares dropped 22.37 per cent, according to data released by the Dow Jones Market.&nbsp;Friday’s move also puts Amazon on track for its largest single-day percentage decline since Feb. 12, 2026, when the stock fell 2.2 per cent. Every week, shares are down 5.48 per cent, marking the worst weekly performance since the week ending Feb. 6, 2026, when Amazon fell 12.11 per cent.&nbsp;Losses have mounted across multiple time frames. The stock is now 21.74 per cent below its all-time closing high of $254.00 set on Nov. 3, 2025, and down 13.07 per cent from its level one year ago on Feb. 14, 2025. It remains 21.74 per cent below its 52-week closing high, though it is still up 18.81 per cent from its 52-week closing low of $167.32 reached on April 21, 2025.<h3>Why is Amazon's stock down 9 straight days?</h3>Amazon's stock is "going down" primarily due to investor concerns after the company announced on February 5, 2026 of massive $200 billion investment, focusing heavily on AI, chips, and satellites, signalling huge costs with uncertain near-term profits, despite strong Q4 earnings and AWS growth. This spending spree, combined with a cautious profit outlook and broader tech sector anxieties about an AI bubble, spooked markets and investors, overshadowing positive results like revenue beats and strong AWS performance.&nbsp;“This isn’t some sort of quixotic top-line grab. We have confidence that these investments will yield strong returns on invested capital. We’ve done that with our core AWS business. I think that will very much be true here as well, "CEO Andy Jassy said, Cryptopolitan reported.&nbsp;After the remarks, investors were still in fear that elevated capital expenditures could burn through reserves. Market and investors also worry about depreciation as chips and servers lose value fast. It is expected that if demand falls, Amazon could be stuck with expensive hardware that weighs on future earnings. &nbsp;Also read: <a href="https://www.wionews.com/trending/what-is-india-s-senior-citizen-card-benefits-features-and-application-process-all-you-need-to-know-1770795461737">What is India’s Senior Citizen Card? Benefits, features and application process: All you need to know</a>

Amazon's stock now declined in 12 of the past 13 trading days and is down 18.18 per cent over the current nine-day stretch. This represents Amazon’s worst nine-day performance since the period ending Nov. 9, 2022, when the shares dropped 22.37 per cent.

Amazon's shares continued to slide on Friday, falling $0.81, or 0.41 per cent, to $198.79. The stock has consistently declined for nine consecutive trading sessions, marking Amazon's longest losing streak since July 14, 2006. Currently, Amazon's shares are on pace for their lowest close since May 9, 2025. The stock has now declined in 12 of the past 13 trading days and is down 18.18 per cent over the current nine-day stretch. This represents Amazon’s worst nine-day performance since the period ending Nov. 9, 2022, when the shares dropped 22.37 per cent, according to data released by the Dow Jones Market. Friday’s move also puts Amazon on track for its largest single-day percentage decline since Feb. 12, 2026, when the stock fell 2.2 per cent. Every week, shares are down 5.48 per cent, marking the worst weekly performance since the week ending Feb. 6, 2026, when Amazon fell 12.11 per cent. Losses have mounted across multiple time frames. The stock is now 21.74 per cent below its all-time closing high of $254.00 set on Nov. 3, 2025, and down 13.07 per cent from its level one year ago on Feb. 14, 2025. It remains 21.74 per cent below its 52-week closing high, though it is still up 18.81 per cent from its 52-week closing low of $167.32 reached on April 21, 2025. Why is Amazon's stock down 9 straight days? Amazon's stock is "going down" primarily due to investor concerns after the company announced on February 5, 2026 of massive $200 billion investment, focusing heavily on AI, chips, and satellites, signalling huge costs with uncertain near-term profits, despite strong Q4 earnings and AWS growth. This spending spree, combined with a cautious profit outlook and broader tech sector anxieties about an AI bubble, spooked markets and investors, overshadowing positive results like revenue beats and strong AWS performance. “This isn’t some sort of quixotic top-line grab. We have confidence that these investments will yield strong returns on invested capital. We’ve done that with our core AWS business. I think that will very much be true here as well, "CEO Andy Jassy said, Cryptopolitan reported. After the remarks, investors were still in fear that elevated capital expenditures could burn through reserves. Market and investors also worry about depreciation as chips and servers lose value fast. It is expected that if demand falls, Amazon could be stuck with expensive hardware that weighs on future earnings. Also read: What is India’s Senior Citizen Card? Benefits, features and application process: All you need to know

Amazon's stock now declined in 12 of the past 13 trading days and is down 18.18 per cent over the current nine-day stretch. This represents Amazon’s worst nine-day performance since the period ending Nov. 9, 2022, when the shares dropped 22.37 per cent.

Amazon shares slide for 9th straight day, marking longest losing streak since 2006: Here's why?

The Directorate General of Civil Aviation (DGCA) has fined Air India Rs 1 crore for flying an aircraft without it having a valid airworthiness certificate, saying the lapse has further eroded public trust in the country’s second-biggest airline. The civil aviation regulator has also directed some post holders from the engineering be removed for this serious lapse, said sources. The Airbus A320 flew passengers between New Delhi, Bengaluru, Mumbai and Hyderabad on November 24, 25 without the mandatory Airworthiness Review Certificate, or ARC, a key permit issued annually by the regulator after a plane passes safety and compliance checks.&nbsp;<h2>‘Further eroded public confidence and adversely…’</h2>&nbsp;A confidential penalty order issued by Indian authorities on February 5 to Air India CEO Campbell Wilson said the incident had “further eroded public confidence and adversely impacted the safety compliance of the organisation.”“The accountable manager on behalf of Air India is found blameworthy for the above lapses,” Joint Director General of Civil Aviation, Maneesh Kumar, wrote in the order, referring to Wilson.&nbsp;Also Read: <a href="https://www.wionews.com/world/-rules-based-world-order-no-longer-exists-says-chancellor-friedrich-merz-at-munich-security-conference-1770994111300">‘Rules-based world order no longer exists,’ says Chancellor Friedrich Merz at Munich Security Conference</a>&nbsp;The DGCA had, on Dec 2, 2025, issued a statement on this lapse. “Under delegated authority, Air India issues ‘airworthiness review certificate’ (ARC) for aircraft it operates. ARC is issued annually in respect of an aircraft after a comprehensive review of its maintenance records, physical condition and verification of compliance with all airworthiness standards. It acts as a validation of the aircraft’s main ‘certificate of airworthiness’ (C of A).”&nbsp;In 2024, DGCA had decided to do the first ARC renewal for Vistara’s 70 aircraft post the airline’s merger with Air India. While the ARC for 69 aircraft was issued, one Airbus A320’s (VT-TQN) certificate was not issued and then it was grounded for engine change. But after getting the engine changed, AI released the aircraft for flights without the ARC.&nbsp;&nbsp;Also Read: <a href="https://www.wionews.com/world/bnp-sweeps-to-power-with-two-thirds-majority-tarique-rahman-poised-to-be-pm-1770988570665">BNP sweeps to power with two-thirds majority; Tarique Rahman poised to be PM</a>&nbsp;“On Nov 26, 2025, (AI) informed DGCA about the flying of the aircraft on expired ARC for eight revenue sectors,” DGCA had said in its Dec 2 statement while ordering a probe into this lapse. The same has now been completed, and Air India fined Rs 1 crore, along with being ordered to remove some postholders from engineering.&nbsp;&nbsp;<h2>‘Conduct internal investigation to identify deficiencies in system’</h2>&nbsp;It had then asked the airline to conduct “internal investigation to identify deficiencies in their system and put corrective measures in place to prevent such failures from occurring in future.”&nbsp;&nbsp;The airline had issued a statement then saying, “Air India remains unwavering in its commitment to maintaining the highest standards of operational integrity and safety, and any deviation from mandated compliance protocols is treated with utmost seriousness and is unacceptable to the organisation.”&nbsp;Also Read: <a href="https://www.wionews.com/world/-ai-will-replace-most-white-collar-jobs-soon-says-microsoft-ai-head-mustafa-suleyman-1770916772093">‘AI will replace most white-collar jobs soon,’ says Microsoft AI head Mustafa Suleyman</a>&nbsp;“An incident involving one of our aircraft operating without an airworthiness review certificate is regrettable. As soon as this came to our notice, it was duly reported to the DGCA and all personnel associated with the decision have been placed under suspension, pending further review. We have initiated a comprehensive internal investigation,” it said.&nbsp;Air India’s own internal investigation into the incident found “systemic failures”. The airline also admitted there was an urgent need to improve compliance culture at the carrier.&nbsp;Also Read: <a href="https://www.wionews.com/india-news/west-bengal-reports-1st-nipah-related-death-as-25-year-old-woman-nurse-succumbs-1770912260619">West Bengal reports 1st Nipah-related death, as 25-year-old woman nurse succumbs</a>&nbsp;Air India suffered its worst disaster when a Boeing Dreamliner crashed moments after take-off in June last year, killing 260 people.

The DGCA asked the airline to conduct an internal investigation to identify deficiencies and put corrective measures in place to prevent such failures from occurring.  Air India’s own investigation found systemic failures. It admitted there was a need to improve compliance culture.

The Directorate General of Civil Aviation (DGCA) has fined Air India Rs 1 crore for flying an aircraft without it having a valid airworthiness certificate, saying the lapse has further eroded public trust in the country’s second-biggest airline. The civil aviation regulator has also directed some post holders from the engineering be removed for this serious lapse, said sources. The Airbus A320 flew passengers between New Delhi, Bengaluru, Mumbai and Hyderabad on November 24, 25 without the mandatory Airworthiness Review Certificate, or ARC, a key permit issued annually by the regulator after a plane passes safety and compliance checks. ‘Further eroded public confidence and adversely…’ A confidential penalty order issued by Indian authorities on February 5 to Air India CEO Campbell Wilson said the incident had “further eroded public confidence and adversely impacted the safety compliance of the organisation.” “The accountable manager on behalf of Air India is found blameworthy for the above lapses,” Joint Director General of Civil Aviation, Maneesh Kumar, wrote in the order, referring to Wilson. Also Read: ‘Rules-based world order no longer exists,’ says Chancellor Friedrich Merz at Munich Security Conference The DGCA had, on Dec 2, 2025, issued a statement on this lapse. “Under delegated authority, Air India issues ‘airworthiness review certificate’ (ARC) for aircraft it operates. ARC is issued annually in respect of an aircraft after a comprehensive review of its maintenance records, physical condition and verification of compliance with all airworthiness standards. It acts as a validation of the aircraft’s main ‘certificate of airworthiness’ (C of A).” In 2024, DGCA had decided to do the first ARC renewal for Vistara’s 70 aircraft post the airline’s merger with Air India. While the ARC for 69 aircraft was issued, one Airbus A320’s (VT-TQN) certificate was not issued and then it was grounded for engine change. But after getting the engine changed, AI released the aircraft for flights without the ARC. Also Read: BNP sweeps to power with two-thirds majority; Tarique Rahman poised to be PM “On Nov 26, 2025, (AI) informed DGCA about the flying of the aircraft on expired ARC for eight revenue sectors,” DGCA had said in its Dec 2 statement while ordering a probe into this lapse. The same has now been completed, and Air India fined Rs 1 crore, along with being ordered to remove some postholders from engineering. ‘Conduct internal investigation to identify deficiencies in system’ It had then asked the airline to conduct “internal investigation to identify deficiencies in their system and put corrective measures in place to prevent such failures from occurring in future.” The airline had issued a statement then saying, “Air India remains unwavering in its commitment to maintaining the highest standards of operational integrity and safety, and any deviation from mandated compliance protocols is treated with utmost seriousness and is unacceptable to the organisation.” Also Read: ‘AI will replace most white-collar jobs soon,’ says Microsoft AI head Mustafa Suleyman “An incident involving one of our aircraft operating without an airworthiness review certificate is regrettable. As soon as this came to our notice, it was duly reported to the DGCA and all personnel associated with the decision have been placed under suspension, pending further review. We have initiated a comprehensive internal investigation,” it said. Air India’s own internal investigation into the incident found “systemic failures”. The airline also admitted there was an urgent need to improve compliance culture at the carrier. Also Read: West Bengal reports 1st Nipah-related death, as 25-year-old woman nurse succumbs Air India suffered its worst disaster when a Boeing Dreamliner crashed moments after take-off in June last year, killing 260 people.

The DGCA asked the airline to conduct an internal investigation to identify deficiencies and put corrective measures in place to prevent such failures from occurring. &nbsp;Air India’s own investigation found systemic failures. It admitted there was a need to improve compliance culture.

Air India fined Rs 1 crore for flying Airbus without airworthiness permit

Days after Anthropic’s Claude Cowork shook the stocks of SaaS companies, Microsoft AI boss Mustafa Suleyman dropped a bombshell by warning that artificial intelligence (AI) could be coming to take most white-collar jobs soon, and not just coders, but even professionals like lawyers and accountants may see their jobs be automated by AI. Suleyman revealed in an interview with the Financial Times that Microsoft is pushing to capture a bigger share in the enterprise market with “professional-grade AGI” and referred to it as an AI model that could do almost everything a human professional does.&nbsp;This would allow Microsoft to deliver to its clients powerful AI tools that are capable of performing routine tasks for knowledge workers. These tools would allow companies to automate routine tasks.&nbsp;Also Read: <a href="https://www.wionews.com/india-news/west-bengal-reports-1st-nipah-related-death-as-25-year-old-woman-nurse-succumbs-1770912260619">West Bengal reports 1st Nipah-related death, as 25-year-old woman nurse succumbs</a>&nbsp;Suleyman predicted that significant changes in the workforce are in store ahead and reckoned that almost everyone who does their job on a computer could be at risk.&nbsp;&nbsp;He explained, “White-collar jobs—those sitting in front of computers, whether lawyers, accountants, project managers, or marketers—most of these tasks will be fully automated by AI within the next 12 to 18 months.”The Microsoft AI chief’s comments come at a time when more companies are looking towards using AI. Anthropic’s Claude Cowork shook the stock markets a few days ago after the model threatened the future of SaaS companies like Infosys and TCS.&nbsp;Also Read: <a href="https://www.wionews.com/world/bnp-chief-tarique-rahman-demands-prompt-announcement-of-election-results-1770898997185">BNP chief Tarique Rahman demands prompt announcement of election results</a><h2>‘Making an AI model will be like making a podcast’</h2>&nbsp;Suleyman further said that as AI advances further, it will become relatively easier to make new models, which could be curated to specific needs. He compared this to how one can easily write a blog or create a podcast.&nbsp;&nbsp;“Creating a new model will be as simple as making a podcast or writing a blog. In the future, it will be possible to design AI tailored to the needs of every institution and individual on Earth,” the Microsoft AI boss added.Additionally, within the next two to three years, AI agents will be able to become more efficient when it comes to handling the workflow of large institutions, he added.&nbsp;Also Read: <a href="https://www.wionews.com/india-news/kanpur-lamborghini-crash-tobacco-tycoon-s-son-shivam-mishra-arrested-after-4-days-gets-bail-in-hours-1770895141801">Kanpur Lamborghini crash: Tobacco tycoon’s son, Shivam Mishra, arrested after 4 days, gets bail in hours</a>&nbsp;Suleyman also hinted that Microsoft was going to double down on its own AI models in a bid to reduce its reliance on OpenAI, following a new agreement between the two companies. He added, “We decided that this was a moment when we have to set about delivering on true AI self-sufficiency.”&nbsp;He also hinted that the new AI models from Microsoft may debut as early as 2026.

Microsoft AI CEO Mustafa Suleyman has predicted that significant changes in the workforce are in store ahead and that almost everyone who does their job on a computer could be at risk. He also hinted that the new AI models from Microsoft may debut as early as 2026.

Days after Anthropic’s Claude Cowork shook the stocks of SaaS companies, Microsoft AI boss Mustafa Suleyman dropped a bombshell by warning that artificial intelligence (AI) could be coming to take most white-collar jobs soon, and not just coders, but even professionals like lawyers and accountants may see their jobs be automated by AI. Suleyman revealed in an interview with the Financial Times that Microsoft is pushing to capture a bigger share in the enterprise market with “professional-grade AGI” and referred to it as an AI model that could do almost everything a human professional does. This would allow Microsoft to deliver to its clients powerful AI tools that are capable of performing routine tasks for knowledge workers. These tools would allow companies to automate routine tasks. Also Read: West Bengal reports 1st Nipah-related death, as 25-year-old woman nurse succumbs Suleyman predicted that significant changes in the workforce are in store ahead and reckoned that almost everyone who does their job on a computer could be at risk. He explained, “White-collar jobs—those sitting in front of computers, whether lawyers, accountants, project managers, or marketers—most of these tasks will be fully automated by AI within the next 12 to 18 months.” The Microsoft AI chief’s comments come at a time when more companies are looking towards using AI. Anthropic’s Claude Cowork shook the stock markets a few days ago after the model threatened the future of SaaS companies like Infosys and TCS. Also Read: BNP chief Tarique Rahman demands prompt announcement of election results ‘Making an AI model will be like making a podcast’ Suleyman further said that as AI advances further, it will become relatively easier to make new models, which could be curated to specific needs. He compared this to how one can easily write a blog or create a podcast. “Creating a new model will be as simple as making a podcast or writing a blog. In the future, it will be possible to design AI tailored to the needs of every institution and individual on Earth,” the Microsoft AI boss added. Additionally, within the next two to three years, AI agents will be able to become more efficient when it comes to handling the workflow of large institutions, he added. Also Read: Kanpur Lamborghini crash: Tobacco tycoon’s son, Shivam Mishra, arrested after 4 days, gets bail in hours Suleyman also hinted that Microsoft was going to double down on its own AI models in a bid to reduce its reliance on OpenAI, following a new agreement between the two companies. He added, “We decided that this was a moment when we have to set about delivering on true AI self-sufficiency.” He also hinted that the new AI models from Microsoft may debut as early as 2026.

Microsoft AI CEO Mustafa Suleyman has predicted that significant changes in the workforce are in store ahead and that almost everyone who does their job on a computer could be at risk. He also hinted that the new AI models from Microsoft may debut as early as 2026.

‘AI will replace most white-collar jobs soon,’ says Microsoft AI head Mustafa Suleyman

Union Finance Minister Nirmala Sitharaman on Wednesday rejected all opposition claims that states have been neglected in the Union Budget and asserted that the Centre has transferred the full 41% share of divisible taxes to states as recommended by the Finance Commission. Replying to the debate on the budget in Parliament, Sitharaman said the headline capital expenditure stands at Rs 12.2 lakh crore, while the effective capital expenditure, including grants to states, totals Rs 17.1 lakh crore, amounting to 4.4% of GDP.&nbsp;“This Rs 17.1 lakh crore is being spent to build assets across states and Union Territories,” she said, emphasising that the money is going directly to strengthen infrastructure across the country.&nbsp;Also Read: <a href="https://www.wionews.com/world/day-before-bangladesh-polls-jamaat-leader-arrested-at-saidpur-airport-with-tk50-lakh-in-cash-1770813630948">Day before Bangladesh polls, Jamaat leader arrested at Saidpur Airport with Tk50 lakh in cash</a><h2>Centre has not diluted tax devolution: FM</h2>&nbsp;Sitharaman also dismissed allegations that the Centre has diluted tax devolution. “We have transferred 41% of the divisible pool to the states. No state’s share has been reduced,” she said.&nbsp;Underscoring the scale of the transfer, she said that for 2026-27, Rs 25.44 lakh crore have been transferred to states, including tax devolution and releases under centrally sponsored schemes, an increase of Rs 2.70 lakh crore over the current year’s revised estimate and Rs 3.78 lakh crore more than the 2024-25 actuals.&nbsp;Also Read: <a href="https://www.wionews.com/world/-us-used-pakistan-like-toilet-paper-says-defence-minister-khawaja-asif-1770808649575">‘US used Pakistan like toilet paper,’ says Defence Minister Khawaja Asif</a>&nbsp;Sitharaman also said that there is no shortage of lending to industry, including small and medium enterprises, as total credit increased by 13.8% in the current financial year.&nbsp;&nbsp;The 16th Finance Commission report tabled in Parliament reviewed transfers from 2018-19 to 2022-23 and concluded that the Centre’s devolution matched its recommendations in each year.Addressing criticism over cesses, she said collections earmarked for sectors such as education, health, and roads ultimately support states. She pointed members to Annex 4A and 4B of the budget receipt documents, audited by the CAG, for detailed data on how funds are allocated.&nbsp;Also Read: <a href="https://www.wionews.com/world/us-to-offer-bangladesh-defence-systems-to-counter-chinese-influence-ambassador-in-dhaka-1770804612423">‘US to offer Bangladesh defence systems to counter Chinese influence’: Washington's envoy in Dhaka</a><h2>Sitharaman emphasises Centre’s push for infrastructure</h2>&nbsp;She also talked about the Centre’s push for infrastructure. “It’s not just roads, it’s not just national highways. We are also looking at waterways, so that the cost of logistics may come down and states which are not connected to sea ports will have advantage of moving goods faster at a lesser cost,” she said.&nbsp;&nbsp;Sitharaman said the Centre is willing to work with states for Mega Textile Parks, particularly looking at industrial textiles, which are going to be “new age” and becoming a part of the manufacturing sector.&nbsp;Lok Sabha took up discussion on the Union Budget on Tuesday. Sitharaman is expected to reply to the debate in the Rajya Sabha on Thursday.&nbsp;Also Read: <a href="https://www.wionews.com/world/bangladesh-general-election-2026-why-bangladesh-polls-matter-for-hindu-minority-s-safety-1770817177549">Bangladesh General Election 2026: Why Bangladesh polls matter for Hindu minority’s safety</a>

Finance Minister Nirmala Sitharaman dismissed allegations that the Centre has diluted tax devolution and said the Union government transferred 41% of the divisible pool to the states and the share of no state has been reduced.

Union Finance Minister Nirmala Sitharaman on Wednesday rejected all opposition claims that states have been neglected in the Union Budget and asserted that the Centre has transferred the full 41% share of divisible taxes to states as recommended by the Finance Commission. Replying to the debate on the budget in Parliament, Sitharaman said the headline capital expenditure stands at Rs 12.2 lakh crore, while the effective capital expenditure, including grants to states, totals Rs 17.1 lakh crore, amounting to 4.4% of GDP. “This Rs 17.1 lakh crore is being spent to build assets across states and Union Territories,” she said, emphasising that the money is going directly to strengthen infrastructure across the country. Also Read: Day before Bangladesh polls, Jamaat leader arrested at Saidpur Airport with Tk50 lakh in cash Centre has not diluted tax devolution: FM Sitharaman also dismissed allegations that the Centre has diluted tax devolution. “We have transferred 41% of the divisible pool to the states. No state’s share has been reduced,” she said. Underscoring the scale of the transfer, she said that for 2026-27, Rs 25.44 lakh crore have been transferred to states, including tax devolution and releases under centrally sponsored schemes, an increase of Rs 2.70 lakh crore over the current year’s revised estimate and Rs 3.78 lakh crore more than the 2024-25 actuals. Also Read: ‘US used Pakistan like toilet paper,’ says Defence Minister Khawaja Asif Sitharaman also said that there is no shortage of lending to industry, including small and medium enterprises, as total credit increased by 13.8% in the current financial year. The 16th Finance Commission report tabled in Parliament reviewed transfers from 2018-19 to 2022-23 and concluded that the Centre’s devolution matched its recommendations in each year. Addressing criticism over cesses, she said collections earmarked for sectors such as education, health, and roads ultimately support states. She pointed members to Annex 4A and 4B of the budget receipt documents, audited by the CAG, for detailed data on how funds are allocated. Also Read: ‘US to offer Bangladesh defence systems to counter Chinese influence’: Washington's envoy in Dhaka Sitharaman emphasises Centre’s push for infrastructure She also talked about the Centre’s push for infrastructure. “It’s not just roads, it’s not just national highways. We are also looking at waterways, so that the cost of logistics may come down and states which are not connected to sea ports will have advantage of moving goods faster at a lesser cost,” she said. Sitharaman said the Centre is willing to work with states for Mega Textile Parks, particularly looking at industrial textiles, which are going to be “new age” and becoming a part of the manufacturing sector. Lok Sabha took up discussion on the Union Budget on Tuesday. Sitharaman is expected to reply to the debate in the Rajya Sabha on Thursday. Also Read: Bangladesh General Election 2026: Why Bangladesh polls matter for Hindu minority’s safety

Finance Minister Nirmala Sitharaman dismissed allegations that the Centre has diluted tax devolution and said the Union government transferred 41% of the divisible pool to the states and the share of no state has been reduced.

‘No state neglected in Budget’: FM Nirmala Sitharaman shreds Opposition’s claims

The senior citizen card is an official ID issued by the state governments of India to people aged 60 years and above. It serves as an alternative to the Aadhaar Card for such individuals, offering benefits including healthcare concessions, travel discounts, and tax relief. The senior citizen card can be completed by the applicants online via state government portals or by submitting an offline application at local offices.&nbsp;For the offline, an individual has to visit the ‘Sewa Kendra’ of the state they belong to in order to avail this card and submit an application form along with a deposit of Rs. 10. This document also acts as proof of domicile, providing access to various central and state welfare schemes.<h3>Benefits of the Senior Citizen Card</h3><ul><li>An individual can have privileged interest rates at the time of opening a fixed or recurring deposit with a bank or any other financial institution.</li><li>The senior citizen cardholder can avail an income tax exemption limit of up to Rs. 3 lakh in a financial year.</li><li>Senior citizens can avail travel concessions while booking tickets with state-run bus transport services and airline companies.</li><li>They are also eligible for discounted treatment at private hospitals and free medical care at government hospitals.</li><li>In addition, individuals aged 60 years and above can seek priority hearing dates in the Indian High Courts using the card.</li></ul><h3>How to Apply for a Senior Citizen Card?</h3>Online application process:<ul><li>Visit the official National Government Services Portal (<a href="https://www.india.gov.in/">India.gov.in</a>).</li><li>Go to the relevant state government section to begin registration.</li><li>Access the senior citizen card application form.</li><li>Complete the form with the required information.</li><li>Upload the necessary documents along with a passport-size photograph.</li><li>Pay the applicable registration fee.</li><li>Submit the form to complete the online application.</li></ul>Offline application process<ul><li>Visit the nearest local government party office or the General Tehsildar’s office.</li><li>Request the Senior Citizen Card Application Form from the concerned official.</li><li>Fill in the form and attach all required supporting documents.</li></ul><h3>What documents are required for a Senior Citizen Card?</h3>Proof of identity: Aadhaar card, voter ID, driving licence, ration card, pension card, government-issued ID, or bank certificateAddress proof: Passport, utility bills, rental agreement, registered sale deed, or bank passbookProof of age: Birth certificate, school leaving certificate, or PAN card&nbsp;Also read: <a href="https://www.wionews.com/world/white-house-releases-first-official-fact-sheet-on-us-india-trade-deal-says-it-ll-open-1-4b-strong-market-to-american-goods-1770701855280">White House releases first official fact sheet on US-India trade deal; no mention of New Delhi ending Russian oil purchase</a>

The senior citizen card serves as an alternative to the Aadhaar Card for such individuals, offering benefits including healthcare concessions, travel discounts, and tax relief. It can be completed by the applicants online or offline at local offices.

The senior citizen card is an official ID issued by the state governments of India to people aged 60 years and above. It serves as an alternative to the Aadhaar Card for such individuals, offering benefits including healthcare concessions, travel discounts, and tax relief. The senior citizen card can be completed by the applicants online via state government portals or by submitting an offline application at local offices. For the offline, an individual has to visit the ‘Sewa Kendra’ of the state they belong to in order to avail this card and submit an application form along with a deposit of Rs. 10. This document also acts as proof of domicile, providing access to various central and state welfare schemes. Benefits of the Senior Citizen Card An individual can have privileged interest rates at the time of opening a fixed or recurring deposit with a bank or any other financial institution. The senior citizen cardholder can avail an income tax exemption limit of up to Rs. 3 lakh in a financial year. Senior citizens can avail travel concessions while booking tickets with state-run bus transport services and airline companies. They are also eligible for discounted treatment at private hospitals and free medical care at government hospitals. In addition, individuals aged 60 years and above can seek priority hearing dates in the Indian High Courts using the card. How to Apply for a Senior Citizen Card? Online application process: Visit the official National Government Services Portal (India.gov.in). Go to the relevant state government section to begin registration. Access the senior citizen card application form. Complete the form with the required information. Upload the necessary documents along with a passport-size photograph. Pay the applicable registration fee. Submit the form to complete the online application. Offline application process Visit the nearest local government party office or the General Tehsildar’s office. Request the Senior Citizen Card Application Form from the concerned official. Fill in the form and attach all required supporting documents. What documents are required for a Senior Citizen Card? Proof of identity: Aadhaar card, voter ID, driving licence, ration card, pension card, government-issued ID, or bank certificate Address proof: Passport, utility bills, rental agreement, registered sale deed, or bank passbook Proof of age: Birth certificate, school leaving certificate, or PAN card Also read: White House releases first official fact sheet on US-India trade deal; no mention of New Delhi ending Russian oil purchase

The senior citizen card serves as an alternative to the Aadhaar Card for such individuals, offering benefits including healthcare concessions, travel discounts, and tax relief. It can be completed by the applicants online or offline at local offices.

What is India’s Senior Citizen Card? Benefits, features and application process: All you need to know

The Southern Indian State of Tamil Nadu is playing a crucial role in India's electronics manufacturing and electronics export, highlighted the state's Industries Minister TRB Rajaa. He projected that Tamil Nadu's electronics exports in 2025-26 would even surpass the $18bn mark, which is expected to be well over 40% of India's projected $45bn electronics exports for the same period. Rajaa was addressing 'Source India- Electronics Supply Chain,' a Business-to-Business platform of the Electronic Industries Association of India (ELCINA). Mentioning that India's electronics manufacturing industry aims to hit $500 billion output by 2030, Rajaa said that Tamil Nadu's share would likely be at $150 billion then. To further boost the state's potential, Rajaa urged industry to go beyond manufacturing and services, to invest in R&amp;D, while also involving academia to identify the possibilities and areas that need attention. He said that the Tamil Nadu government's providing additional incentive packages beyond the Central government's packages has helped it bag five of seven projects under the first phase of the electronics component manufacturing scheme and 69% of all jobs in the second phase. He also expressed concern over the Central Government not releasing the latest state-wise data on electronics exports for the ongoing financial year. Electronics is no longer just an industry, it is the infrastructure for modern civilisation- from mobility and healthcare to defence, energy, AI and space-it sits at the core of every national priority, said Dr Sasikumar Gendham, President, ELCINA. "To power India’s rise as the world’s electronics engine, we must move from assembly to value creation, from cost advantage to capability advantage, and from fragmentation to strong ecosystem thinking—integrating MSMEs, academia and supplier development," he added. As part of the inaugural session, ELCINA released its latest report titled “Tamil Nadu’s Electronics Industry – Status and Growth of the Industry,” highlighting the state’s manufacturing performance, export growth and opportunities for deeper localisation. The report highlighted that Tamil Nadu had 191 units connected to electronics manufacturing, and it is also the state with the largest number of mobile phone manufacturing units and those making related components. Speaking at the event, Atul Lall, Vice Chairman &amp; Managing Director, Dixon Technologies India Ltd. &amp; Past President ELCINA, said, “India’s electronics manufacturing sector is entering a phase of accelerated growth, driven by scale, policy support and increasing global confidence. The next phase of competitiveness will depend on deeper localisation, strong component ecosystems and continued investment in technology and skills. Platforms like Source India play a vital role in strengthening industry collaboration and positioning India as a trusted and resilient partner in global supply chains.”&nbsp;Also read: <a href="https://www.wionews.com/photos/-run-for-more-than-20-years-without-refueling-how-long-does-it-really-take-to-refuel-the-uss-abraham-lincoln-1770642696577">How can the USS Abraham Lincoln go more than 20 years without refueling?</a>

TRB Rajaa said that the state government's providing additional incentive packages beyond the Central government's packages has helped it bag five of seven projects under the first phase of the electronics component manufacturing scheme and 69% of all jobs in the 2nd phase.

The Southern Indian State of Tamil Nadu is playing a crucial role in India's electronics manufacturing and electronics export, highlighted the state's Industries Minister TRB Rajaa. He projected that Tamil Nadu's electronics exports in 2025-26 would even surpass the $18bn mark, which is expected to be well over 40% of India's projected $45bn electronics exports for the same period. Rajaa was addressing 'Source India- Electronics Supply Chain,' a Business-to-Business platform of the Electronic Industries Association of India (ELCINA). Mentioning that India's electronics manufacturing industry aims to hit $500 billion output by 2030, Rajaa said that Tamil Nadu's share would likely be at $150 billion then. To further boost the state's potential, Rajaa urged industry to go beyond manufacturing and services, to invest in R&D, while also involving academia to identify the possibilities and areas that need attention. He said that the Tamil Nadu government's providing additional incentive packages beyond the Central government's packages has helped it bag five of seven projects under the first phase of the electronics component manufacturing scheme and 69% of all jobs in the second phase. He also expressed concern over the Central Government not releasing the latest state-wise data on electronics exports for the ongoing financial year. Electronics is no longer just an industry, it is the infrastructure for modern civilisation- from mobility and healthcare to defence, energy, AI and space-it sits at the core of every national priority, said Dr Sasikumar Gendham, President, ELCINA. "To power India’s rise as the world’s electronics engine, we must move from assembly to value creation, from cost advantage to capability advantage, and from fragmentation to strong ecosystem thinking—integrating MSMEs, academia and supplier development," he added. As part of the inaugural session, ELCINA released its latest report titled “Tamil Nadu’s Electronics Industry – Status and Growth of the Industry,” highlighting the state’s manufacturing performance, export growth and opportunities for deeper localisation. The report highlighted that Tamil Nadu had 191 units connected to electronics manufacturing, and it is also the state with the largest number of mobile phone manufacturing units and those making related components. Speaking at the event, Atul Lall, Vice Chairman & Managing Director, Dixon Technologies India Ltd. & Past President ELCINA, said, “India’s electronics manufacturing sector is entering a phase of accelerated growth, driven by scale, policy support and increasing global confidence. The next phase of competitiveness will depend on deeper localisation, strong component ecosystems and continued investment in technology and skills. Platforms like Source India play a vital role in strengthening industry collaboration and positioning India as a trusted and resilient partner in global supply chains.” Also read: How can the USS Abraham Lincoln go more than 20 years without refueling?

TRB Rajaa said that the state government's providing additional incentive packages beyond the Central government's packages has helped it bag five of seven projects under the first phase of the electronics component manufacturing scheme and 69% of all jobs in the 2nd phase.

India's electronics exports could hit $45bn; Tamil Nadu's share over $18bn

The Donald Trump White House on Tuesday (Feb 10) released its first fact sheet on the recently released trade deal between the United States and India. The WH said that the historic deal, which will open India's market of 1.4 billion people to American products, seeks to realise "balanced, reciprocal trade with an important trading partner." Notably, the document does not mention anything concrete on India’s commitment to stop buying Russian oil, which had appeared earlier in an executive order signed by US President Donald Trump. The sole mention of this can be found in a brief statement acknowledging that Trump “agreed to remove the additional 25% tariff on imports from India in recognition of India’s commitment to stop purchasing Russian Federation oil.”Also read | <a href="https://www.wionews.com/world/trump-lifts-25-tariff-on-india-says-new-delhi-committed-to-stop-directly-or-indirectly-importing-russian-federation-oil-1770427129351">Trump lifts 25% tariff on India, says New Delhi 'committed to stop directly or indirectly importing Russian Federation oil'</a><h2>Achieving reciprocal trade and tariff reductions</h2>According to the White House, the agreement will open India’s market of more than 1.4 billion people to American goods by lowering tariffs and easing non-tariff barriers.The agreement will see the United States reduce so-called reciprocal tariffs on Indian goods to 18 per cent from the earlier 25 per cent level, though the timeline for implementing that reduction has not yet been finalised. Meanwhile, India will eliminate or reduce duties on all US industrial goods and a wide range of agricultural products.Among the specific products listed in the fact sheet are dried distillers’ grains (DDGs), red sorghum used for animal feed, tree nuts, fresh and processed fruit, pulses, soybean oil, wine and spirits.Washington has long argued that India maintains high trade barriers, and in the document cites average agricultural tariffs of "as high as an average of 37% for agricultural goods and more than 100% on certain autos".Also read | <a href="https://www.wionews.com/india-news/t20-meets-trade-piyush-goyal-delivers-cricket-style-jab-on-india-us-tariff-deal-steals-spotlight-at-us-event-watch-1770699972794">Piyush Goyal delivers cricket-style jab on India-US tariff deal. Watch</a><h2>Digital trade and technology cooperation</h2>One of the most significant commitments highlighted in the fact sheet is India’s decision to remove its digital services tax. "India will remove its digital services taxes and committed to negotiate a robust set of bilateral digital trade rules that address discriminatory or burdensome practices and other barriers to digital trade, including rules that prohibit the imposition of customs duties on electronic transmissions."The two sides also agreed to expand cooperation in technology trade, strengthen supply chain resilience and coordinate on investment screening and export controls. The White House said the agreement would "significantly increase bilateral trade in technology products" and deepen collaboration in innovation and manufacturing ecosystems.&nbsp;

The White House has released its first fact sheet on the new US-India trade deal. The document mentions tariff relief for India but offers little detail on New Delhi’s reported pledge to stop buying Russian oil. All details here.

The Donald Trump White House on Tuesday (Feb 10) released its first fact sheet on the recently released trade deal between the United States and India. The WH said that the historic deal, which will open India's market of 1.4 billion people to American products, seeks to realise "balanced, reciprocal trade with an important trading partner." Notably, the document does not mention anything concrete on India’s commitment to stop buying Russian oil, which had appeared earlier in an executive order signed by US President Donald Trump. The sole mention of this can be found in a brief statement acknowledging that Trump “agreed to remove the additional 25% tariff on imports from India in recognition of India’s commitment to stop purchasing Russian Federation oil.” Also read | Trump lifts 25% tariff on India, says New Delhi 'committed to stop directly or indirectly importing Russian Federation oil' Achieving reciprocal trade and tariff reductions According to the White House, the agreement will open India’s market of more than 1.4 billion people to American goods by lowering tariffs and easing non-tariff barriers. The agreement will see the United States reduce so-called reciprocal tariffs on Indian goods to 18 per cent from the earlier 25 per cent level, though the timeline for implementing that reduction has not yet been finalised. Meanwhile, India will eliminate or reduce duties on all US industrial goods and a wide range of agricultural products. Among the specific products listed in the fact sheet are dried distillers’ grains (DDGs), red sorghum used for animal feed, tree nuts, fresh and processed fruit, pulses, soybean oil, wine and spirits. Washington has long argued that India maintains high trade barriers, and in the document cites average agricultural tariffs of "as high as an average of 37% for agricultural goods and more than 100% on certain autos". Also read | Piyush Goyal delivers cricket-style jab on India-US tariff deal. Watch Digital trade and technology cooperation One of the most significant commitments highlighted in the fact sheet is India’s decision to remove its digital services tax. "India will remove its digital services taxes and committed to negotiate a robust set of bilateral digital trade rules that address discriminatory or burdensome practices and other barriers to digital trade, including rules that prohibit the imposition of customs duties on electronic transmissions." The two sides also agreed to expand cooperation in technology trade, strengthen supply chain resilience and coordinate on investment screening and export controls. The White House said the agreement would "significantly increase bilateral trade in technology products" and deepen collaboration in innovation and manufacturing ecosystems.

The White House has released its first fact sheet on the new US-India trade deal. The document mentions tariff relief for India but offers little detail on New Delhi’s reported pledge to stop buying Russian oil. All details here.

White House releases first official fact sheet on US-India trade deal; no mention of New Delhi ending Russian oil purchase