The Economic Times

NRI entrepreneur Aniruddha Anjana says three businesses he launched in India after returning from 10 years in the US failed amid unpaid customer dues, a stalled government drone survey project and alleged corruption and blackmail in his restaurant venture. Despite the setbacks, his US business remains profitable, and he says he currently has no plans to start another venture in India.

NRIs have the opportunity to gift money to their Hindu Undivided Family (HUF) without incurring immediate tax obligations. However, it's important to note that any income generated from these gifted amounts will be taxable for the NRI donor. The HUF must diligently keep records of all transactions as this documentation is essential in proving the legitimacy and source of the gift, ensuring NRIs avoid potential tax disputes in the future.

ET Wealth Reader's Query: I would like to understand what happens to my rights over inherited agricultural land in India if I acquire foreign citizenship. Will I still be able to inherit my familys agricultural land, and are there any restrictions on holding, transferring, or disposing of such property after becoming a foreign citizen?

In a potential policy shift, the US Department of Homeland Security has suggested ending H-4 EAD eligibility for spouses, significantly affecting many Indian families enduring extended green card delays. While individuals with existing H-4 EADs will maintain their work authorization for now, this proposal necessitates an extensive federal rulemaking timeline and public commentary. As such, any final outcome might be delayed for months and could meet with legal opposition.

Non-Resident Indians (NRIs) hold the right to inherit property in India; however, selling such assets involves navigating a complex set of regulations. Stricter rules apply to agricultural lands and farmhouses, particularly regarding their sale and repatriation. The method of repatriating sale proceeds varies based on the property's origin and classification.

Indian families face uncertainty as US pauses immigrant visa interviews. Spouses and parents are significantly impacted by this administrative halt. This pause creates cascading scheduling delays and operational uncertainty for applicants. Experts advise applicants to remain calm and evaluate available options. Prolonged suspension could increase procedural hassle and costs for applicants.

A Brazilian mother and daughter collected over 8,000 discarded bottles from beaches in 2020. These bottles were then incorporated into the walls of their seven-bedroom home. Sunlight passing through the glass creates a striking glow at sunrise. This project demonstrates sustainability and creativity in construction. The house serves as a functional dwelling and an educational space.

Sovereign gold bonds: Non-Resident Indians cannot invest in Sovereign Gold Bonds currently. However, existing bondholders can continue holding them until maturity. NRIs can invest in physical gold and digital gold options. These include gold mutual funds and gold ETFs. A demat account is required for digital gold investments.

Life certificate: Non-Resident Indians are facing significant hurdles in submitting their Jeevan Pramaan digitally. Issues such as Aadhaar authentication failures and mobile number complications obstruct online life certificate submissions.

India aims for a $55 trillion economy by 2047. This ambitious goal relies on leveraging its young demographic in artificial intelligence. Strategic capital deployment and sustained growth will unlock value across core sectors. Attracting foreign investment and expanding manufacturing are vital for this economic expansion. Dominance in sunrise sectors like space and defense tech will drive this future growth.

After relocating to India, an ex-NRI prefers to travel by auto-rickshaw for her short commutes. Concerned about the hazardous paths and fast-moving traffic, she opts to spend around one hundred rupees daily to sidestep the stress associated with her return. This decision showcases her sensible method of dealing with urban life's hurdles, prioritizing safety over discomfort.

The construction of the Ayodhya Ram temple is nearly finished, with just the installation of the trust's logo at the top of the Purn Smriti Stambh pending. This last detail is expected to be completed shortly. Additionally, upcoming meetings will focus on the development and operations of the Ram Katha Sangrahalaya, with prepared scripts for museum galleries set to be transformed into video presentations.

The Reserve Bank of India shortened its zero-cost FX swap facility for banks. This action followed substantial foreign deposit inflows from non-resident Indians. Policymakers also considered domestic liquidity effects and fundraising costs. The overseas fundraising supported the rupee, which had reached record lows earlier. These measures have bolstered foreign exchange reserves significantly.

An Indian NRI has shared his financial journey on social media, detailing how his career progressed from a Rs 10 lakh annual salary to a net worth of around Rs 7.5 crore at 37. After moving to the Middle East, he said he accumulated substantial savings, cleared a home loan and bought two additional properties, taking his total Mumbai homes to three.

Bank deposits saw their fastest growth in nearly ten years by July. Overseas Indians deposited about $37 billion in foreign currency accounts. Bank credit growth also accelerated to its fastest pace since June 2024. This surge was driven by corporate demand and MSME lending programs. India garnered nearly $41 billion in total inflows by July 31.

Indian MSMEs in the secondary steel sector can reduce power bills significantly. Switching to renewable energy offers substantial annual savings for these businesses. This transition also helps slash greenhouse gas emissions from steel production. A cluster-based approach makes renewable energy procurement more feasible for MSMEs. Adopting renewables lowers costs and carbon footprints simultaneously for producers.

Based on transaction data for April 2025 to March 2026, the report highlighted an increasingly diversified forex market driven by rising outbound travel, overseas education, corporate mobility and changing payment preferences. Tier 1 cities, including metros, account for 47 per cent of forex demand, while Tier 2 and Tier 3 cities contribute 41 per cent and 12 per cent, respectively.

India and the Southern African Customs Union signed terms to start trade negotiations. This move revives talks after previous rounds stalled between 2002 and 2010. New Delhi seeks tariff relief for key export sectors like automobiles and pharmaceuticals. The union comprises South Africa, Botswana, Namibia, Lesotho, and Eswatini. These renewed discussions aim to boost bilateral trade and economic ties.

British Prime Minister Andy Burnham appointed Gautam Rangarajan as Expert Adviser. Rangarajan brings extensive experience in corporate strategy and transformation to his new role. Burnham is implementing a vision to do things differently across the country. He has realigned government departments and established a new Office for the PM. Rangarajan is expected to be instrumental in this governmental transformation.

In a working paper titled An Investigation Into Corporate Profits and Investment, co-authored by Prof S Mahendra Dev, chairman of EAC-PM, joint directors of EAC-PM Dr Sri Vatsa Sehra and Dr KK Tripathy and deputy director of EAC-PM Kamil KPS Bhullar, EAC-PM called for policy support to encourage innovation, enahnce R&D spending and promote industry-academia linkage to pave the way for establishment and growth of innovative firms.

India will pursue preferential trade agreements with developing economies like South Africa. This approach opens select product categories instead of deep market access. India is also negotiating preferential trade agreements with Mercosur and exploring options with Mexico. The government emphasizes inclusive stakeholder consultations for all trade pacts. This consultative style contrasts with previous trade negotiation practices.

Perseid meteor shower 2026 peak time: Perseid meteor shower peaks on the night of 12 August into the early hours of 13 August 2026, with viewing conditions described as ideal this year due to a new moon keeping skies dark. At its peak, the shower can produce up to 100 meteors per hour, with the best views coming from locations away from city lights.

India's fencing team achieved significant success on day three of the championship. They secured three gold, one silver, and one bronze medal in various events. Kanaglakshmi won gold in women's foil, and Rajendran Shanthimol Sherjin took gold in men's epee. Singh Karan Singh clinched another gold medal in the men's sabre competition. This performance brought India's total medal count to twenty-nine at the event.

Rail Coach Factory Kapurthala is launching nineteen LHB broad gauge passenger coaches for Bangladesh Railway. These custom-designed coaches feature advanced amenities and crashworthy design meeting European standards. The rake includes AC sleeper, AC chair, and Non-AC chair coaches along with power cars. This initiative builds upon a successful cooperation that began in 2015-16.

India has recently enhanced its maritime relations with Seychelles by providing five laser radial boats aimed at improving seamanship training for personnel in the Seychelles Defence Forces. This handover coincides with Prime Minister Narendra Modi's June visit to the country and underscores Indias ongoing dedication to strengthening defense cooperation and capabilities within this vital island partner.

India's Global Capability Centres are becoming AI hubs, but leadership AI literacy remains low. Most leaders are confident India will lead globally through 2030. However, less than 30% of leaders possess sufficient AI literacy for strategic decisions. GCCs must reskill over 40% of their workforce for this AI transformation.

Claude watermark explained What Indian users need to know

Afghanistan will host India for three Twenty20 Internationals in September. The series will take place at Delhi's Arun Jaitley Stadium. Afghanistan has largely played home matches in the UAE due to security concerns. The Afghanistan Cricket Board believes India provides an excellent setting for this event. Indian cricket officials expressed commitment to supporting Afghanistan's cricket growth.

Today's Indian consumers are transforming their financial habits, with a declining focus on food expenditure within their budgets. The trend of premiumization is apparent in sectors like automobiles and consumer goods. A noteworthy increase in spending on travel and experiences is also observed. Meanwhile, financial aspirations have transitioned from just securing stability to actively generating wealth through investments, driven by a vibrant middle class across various cities.

India-US Tariff row: PM Modi-Trump will work it out

SA20 Season 5 will feature star players like Mitchell Marsh and Sam Curran. Joe Root and Phil Salt are also returning to their respective franchises. Several big names were released before the upcoming player auction on October 7. Defending champions Sunrisers Eastern Cape will face Pretoria Capitals in the opener. The tournament begins January 17 and concludes February 21.

The Medical Counselling Committee has updated its online counselling procedures for medical admissions. Candidates seeking upgrades will no longer need to physically report to colleges. Seat resignations can now be completed entirely through the online MCC portal. NRI quota applicants can submit their required documents digitally for easier processing. Authorities are now required to provide clear seat and fee details to all aspirants.

Japanese Mindset: Shinrin-yoku, a Japanese practice, involves immersing oneself in forest atmospheres. This mindful approach uses all five senses to reconnect with nature. Introduced in the 1980s, it combats urban stress and burnout. Scientific studies now support its mental and physical health benefits. This simple practice encourages slowing down and being present in nature.

Quote of the Day by Enrique Iglesias: Enrique Iglesias quote, If they would have told me when I was just 18 that I was going to have a career that would last so long, Id have said it was impossible, that it was crazy that that could happen in my life, so Im happy to be here. To be able to go out on stage every day, explores the importance of perseverance, gratitude, and believing in the power of dreams. The quote suggests that success often comes through years of dedication, passion, and consist

You were in charge when DOJ dropped Epstein victims photos: Heinrich rips into Trumps DNI pick

Quote of the day by Francis of Assisi expresses a timeless truth about generosity and human fulfillment. Giving enriches both the receiver and the giver by building stronger relationships, encouraging gratitude, developing character, and creating meaningful purpose. Whether through kindness, knowledge, forgiveness, encouragement, or service, every act of generosity contributes to a better world. Francis of Assisi reminds us that the greatest rewards in life are often invisible but deeply meaning

NRIs face complex tax rules when selling Indian property, often leading to excess tax deductions. Obtaining a Lower TDS certificate can prevent over-withholding on sale consideration. Understanding capital gains tax and available exemptions is crucial for maximizing returns. Recent changes have altered capital gains taxation for equities and debt funds. Proper documentation and timely filing are essential for claiming refunds and repatriating funds.

The Ayodhya temple trust will soon clarify the roles and obligations associated with the new Chief Executive Officer. This individual will be key in preserving the faith of the devotees and effectively managing the temples financial aspects. A committee consisting of three members is responsible for selecting the prospective CEO. Visitors to the Ram temple have reported encouraging experiences, strengthening their belief.

The Ram temple construction is expected to finish by August 15. The combined cost for the temple and museum will be 1800 crore rupees. A Ram Katha museum, featuring immersive technology, will open in six to eight months. Discussions covered visitor amenities and the potential for an entry ticket system. Financial audits and asset registers are being finalised for the temple complex.

Ram Mandir donation row: Nripendra Mishra opens up on digital donations, Temple Trust appointments

Ayodhya Ram Temple construction committee chairman Nripendra Mishra called the alleged donation theft a disgrace. He expressed confidence in improving temple management systems to prevent future incidents. A high-level committee is now working to suggest a suitable candidate for CEO. Construction work on the old temple memorial is nearing completion. The main temple structure is expected to finish by the end of July.

The main Ram Temple structure will finish construction by July 30. Peripheral projects like the boundary wall and museum are progressing well. The four-kilometer boundary wall is expected to be completed by September 30. Work on the auditorium will continue until November or December. The Ram Katha Sangrahalay's storyline has been finalised for its galleries.

A UK-based Indian techie's viral post highlights a growing trend among NRIs: returning to India for faster, cheaper healthcare. Facing a three-week wait for a root canal in the UK, he flew home, got the procedure done in two days, and found the entire trip, including flights, was still more affordable than UK treatment.

Despite recent volatility, wealth managers believe NRIs should remain invested in India, citing strong structural growth, resilient domestic capital markets, improving corporate fundamentals and long-term earnings potential. They argue temporary market and currency fluctuations should not overshadow India's long-term wealth creation opportunity.

An Indian-origin man has highlighted stark differences in workplace culture between India and the US. He observed that leaving work on time in India often drew attention, whereas in the US, it's considered normal. The man also shared an experience where his manager compensated him for after-hours work, emphasizing the US's structured approach to overtime and boundaries, a model he believes India could adopt.

The Reserve Bank of India has eased interest rate rules for overseas deposits. This allows banks to offer better returns on FCNR(B) and NRE accounts. The changes aim to attract more foreign funds until September 2026. This move could boost foreign exchange inflows. It will help strengthen the banking system and manage global market volatility.

Iran insisted on Friday on its right to enrich uranium and maintain control over the Strait of Hormuz under any deal with the United States, after President Donald Trump said a draft accord was ready. Beyond this, according to IRNA, Iran would insist on managing traffic though the Strait of Hormuz, the key maritime trade route carrying oil and gas from the Gulf.