GST Hike Looms Over Luxury Goods
Your daily dose of business news
🗞️ US & China blocking India’s $7-trn solar dream
India’s shot at becoming a $7 trillion solar powerhouse is being hampered by US and China’s dominance in global solar supply chains. Analysts say India must boost domestic manufacturing to secure its renewable future.
💬 Expert Take: “A faster PLI 2.0 and bankable offtake for modules can de-risk capex and pull forward gigawatt-scale investments.”
🗞️ Forex reserves rise to $695.1 bn
India’s forex reserves increased by $1.48 bn to reach $695.1 bn for the week ending August 15, driven by strong capital inflows and a stable rupee. This strengthens India’s cushion against global financial shocks.
🗞️ Apollo Hospitals promoters sell ₹1,490 cr stake
Apollo Hospitals’ promoter group sold a 1.3% stake worth ₹1,490 crore to cut debt and reduce pledged shares. Market analysts see this as a positive move to strengthen the balance sheet.
🗞️ GST Council mulls 40% cess on luxury goods
The GoM has recommended a 40% GST and cess on luxury items and tobacco products. If approved, this could reshape consumer demand and boost government revenues.
🗞️ Outbound investments jump 67% to $41.6 bn
India’s outbound investments surged 67% in FY25 to $41.6 bn, reflecting confidence of Indian businesses in global expansion despite global headwinds.
💬 Expert Take: “This indicates growing corporate confidence—but geopolitical and currency risks abroad must be factored into new ventures.”
🗞️ ₹1.75 lakh cr worth shares set to unlock
By November-end, shares worth ₹1.75 lakh crore will unlock as lock-in periods expire. This could increase market liquidity but may add short-term selling pressure.
🗞️ NRIs can cut TDS on property sales
NRIs selling property in India can reduce TDS deductions by obtaining a certificate under Section 197. This ensures fair tax treatment based on actual capital gains.
🗞️ Fertiliser imports up 5% amid crunch
India’s fertiliser imports rose 5% in April–July due to global supply tightness. Higher imports may impact subsidy bills and farm input costs.