eznews.inThe Indian government is set to offer a tax exemption to foreign companies providing cloud services through data centres in India, as announced by Finance Minister Nirmala Sitharaman during her budget speech. This tax holiday, effective from the 2026-27 tax year until 2046-47, is contingent upon four conditions: the foreign company must be notified, the data centre must be an Indian entity, it must be recognized by the Ministry of Electronics and Information Technology (MeitY), and services must be provided to Indian customers via an Indian reseller. Additionally, a safe harbour margin of 15% on costs will apply if the data centre is a related entity. This initiative aims to enhance investment in critical infrastructure while ensuring that foreign companies are not taxed on their global income derived from these services, thereby fostering a competitive environment for Indian data centres. 
Published: Feb 04 2026, 11 ameznews.inIn early September, following a meeting with Vladimir Putin and Xi Jinping, Indian Prime Minister Narendra Modi sent National Security Adviser Ajit Doval to Washington to mend strained US-India relations. Doval conveyed to Secretary of State Marco Rubio that India sought to move past recent tensions, particularly after President Trump imposed 50% tariffs on Indian goods and criticized India’s economy. Despite facing insults, Doval emphasized India's resilience and desire for a trade deal, urging the US to temper its public criticism. Shortly after, Trump praised Modi on his birthday, signaling a thaw in relations. A trade agreement was announced, reducing tariffs on Indian goods and eliminating punitive duties on Russian oil purchases. While India is diversifying its trade partnerships, including recent deals with the EU and UK, the US remains a vital economic ally, with significant investments in technology and manufacturing sectors.
Published: Feb 04 2026, 11 ameznews.inBilateral trade between India and China reached a record high of USD 155.6 billion in 2025, marking a year-on-year growth of over 12%, according to Chinese Ambassador Xu Feihong. Speaking at a Chinese New Year event, Xu highlighted the successful meeting between Prime Minister Narendra Modi and President Xi Jinping in Tianjin last August, which he described as a turning point in improving relations, including increased people-to-people exchanges. India's exports to China rose by 9.7%, reflecting the potential for deeper economic cooperation. Xu emphasized the alignment of China's self-reliance strategy with India's Atmanirbhar Bharat initiative and expressed a commitment to collaborate on global development goals. The recent thaw in relations follows a period of tension after the 2020 Galwan Valley clashes, with military stand-offs concluding in October 2024. The ambassador reiterated the importance of mutual cooperation for shared benefits.
Published: Feb 04 2026, 11 ameznews.inCochin International Airport Limited (CIAL) is set to transform into a comprehensive aviation hub with the launch of a 36-acre Aero Park, aimed at enhancing technical capabilities and knowledge development. The project, which involves an investment of ₹101 crore, will feature six initiatives, including aircraft hangars, parking facilities, and specialized training centres. Kerala Chief Minister Pinarayi Vijayan is scheduled to inaugurate Phase I on February 9, which includes the CIASL Business Centre, a Technical Services Facility, and the largest Aviation Breathing Apparatus Training Gallery in India. Notably, the park will also house the country’s first Aviation Pressure-Fed Fire Fighting Facility and an underwater rescue training centre. CIAL's Managing Director, S. Suhas, emphasized that the Aero Park will elevate safety training standards and position Kochi as a global aviation hub, with future phases including the CIAL IT Park and Aero City project.
Published: Feb 04 2026, 11 ameznews.inUS Secretary of State Marco Rubio and Indian External Affairs Minister S. Jaishankar have expressed their support for a newly reached trade deal between President Donald Trump and Prime Minister Narendra Modi. During Jaishankar's three-day visit to Washington, DC, the two officials discussed formalising cooperation on critical minerals exploration, mining, and processing, as highlighted by US Principal Deputy Spokesperson Tommy Pigott. The leaders underscored the significance of their democracies collaborating to create economic opportunities and enhance energy security. They also reaffirmed their commitment to expanding bilateral and multilateral cooperation through the Quad, emphasizing the importance of a prosperous Indo-Pacific region. Following a phone conversation between Trump and Modi, it was announced that the US would reduce tariffs on India from 50% to 18%, while India would work towards eliminating its tariffs and non-tariff barriers against the US. Details of the agreement are still being finalised by negotiating teams.
Published: Feb 04 2026, 10 ameznews.inThe Indian government has announced the establishment of the Policyholders’ Education and Protection Fund to enhance awareness about insurance, alongside new regulations to safeguard policyholder data in compliance with the DPDP Act 2023. Set to take effect on February 5, 2026, the 'Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025' introduces significant reforms, including raising the foreign direct investment (FDI) cap in the insurance sector from 74% to 100%. While this change aims to boost investment, it mandates that top executives of insurance firms must be Indian citizens. The act also facilitates mergers between non-insurance and insurance companies and streamlines regulatory processes to promote ease of doing business. Additionally, the Insurance Regulatory and Development Authority of India (IRDAI) will gain enhanced powers to enforce compliance and penalize misconduct within the sector.
Published: Feb 04 2026, 10 ameznews.inDanish shipping giant Maersk and Germany's Hapag-Lloyd have officially launched their operational collaboration, dubbed the "Gemini Cooperation," on February 1, 2025, which encompasses 29 shared mainliner and 29 shuttle services on East-West trade routes. In a significant routing change, the companies will now transit one of their shared services through the Red Sea and Suez Canal, a move expected to reduce sailing time by nearly a week compared to the previous route around the Cape of Good Hope. This adjustment follows nearly two years of rerouting due to Houthi attacks that had disrupted maritime activity in the region. The first changes will be implemented on the ME11 service, with the Albert Maersk and Astrid Maersk vessels set to commence new routes in February 2026. Both carriers emphasize that the safety of their crews and cargo remains paramount, and they will closely monitor the security situation in the Middle East.
Published: Feb 04 2026, 10 ameznews.inIndia's services sector showed signs of recovery in January, with the Purchasing Managers’ Index (PMI) rising to a two-month high of 58.5, up from 58 in December, according to S&P Global. This growth was attributed to a steady influx of new orders, particularly from international markets in South and Southeast Asia, leading to a marginal increase in hiring. Despite this, most firms opted to maintain their workforce levels, citing sufficient resources for current demands. Business confidence also climbed to a three-month high, bolstered by efficiency gains and successful marketing strategies. However, input costs rose at their fastest pace since September, driven by higher prices for various goods, while output charges increased moderately. The report highlighted that cost pressures were most pronounced in the Consumer Services sector, with the Finance & Insurance sector experiencing the highest rise in output charges.
Published: Feb 04 2026, 10 ameznews.inBoeing is set to conduct the first flight of its long-delayed 777X production model in April, according to a company document obtained by Reuters. This marks a significant milestone for the aircraft, which is expected to be delivered next year. Currently, Boeing is performing fuel tests on the 777X, ordered by Lufthansa, at its Paine Field facility in Washington, with engine tests scheduled for later this month. Despite logging more flight hours than any other Boeing program, the 777X remains six years behind schedule, with the company incurring $15 billion in charges. Certification from the Federal Aviation Administration is still pending, requiring testing on a production-configured aircraft. The 777X, which succeeds the 747 and 777, is crucial for Boeing's long-haul offerings amid stiff competition from Airbus. Recently, CEO Kelly Ortberg revealed a potential issue with the aircraft's GE Aerospace engines, though it is not expected to affect the delivery timeline.
Published: Feb 04 2026, 9 ameznews.inAt the World Trade Organization's informal ministerial gathering in Davos, US Trade Representative Jamieson Greer announced a significant trade deal with India, which will see the South Asian nation reduce tariffs on a wide range of American industrial and agricultural goods to zero. Greer described the agreement as a "big win," noting that while the US will maintain an 18% tariff due to a substantial trade deficit, India will eliminate tariffs on approximately 98-99% of industrial goods and various agricultural products, including fruits and vegetables. The deal also addresses non-tariff barriers, with an understanding to recognize US standards in trade. Additionally, Greer commented on India's recent diversification of energy sources, including a reduction in Russian oil purchases, aligning with US interests. The agreement is expected to enhance market access for American farmers and producers, further strengthening US-India relations.
Published: Feb 04 2026, 9 am
For the fastest, latest, not so wokest news, 'experts say' you need to visit Eznews
India
World
Economy
Science
Health
Showbiz
Contact