Tag Archives: dwaipayan roy

culture, economy, finance, holidays

How much gold can Indians own? Know the law

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**How Much Gold Can Indians Own? Know the Law**
*By Dwaipayan Roy | Oct 13, 2025, 05:48 PM*

With Dhanteras and Diwali approaching, many families are considering their gold purchases. Understanding the legal aspects of gold ownership in India is essential before making any investment.

### Historical Background
The Gold Control Act of 1968 once imposed restrictions on gold ownership in India. However, this law was repealed in 1990. Since then, there are no legal limits on how much gold a person can own, provided they can prove the legitimate source of the gold through invoices or inheritance documents.

### Limits on Seizing Gold Jewelry During Raids
The Central Board of Direct Taxes (CBDT) has issued specific guidelines for income tax officials during raids on gold holdings. According to a circular dated May 11, 1994, there are limits on the quantity of gold jewelry that cannot be seized during such raids. These limits are:

– 500 grams for married women
– 250 grams for unmarried women
– 100 grams per male member of the family, regardless of marital status

These measures are intended to protect genuine personal holdings from confiscation.

### Tax Implications on Gold
The tax treatment of gold depends on its form and the holding period:

– Physical gold, Gold Exchange-Traded Funds (ETFs), and other digital gold products are considered capital assets.
– If sold within 12 months of purchase, the gains are treated as short-term capital gains (STCG) and taxed according to the individual’s income tax slab (ranging from 5% to 30%).
– If held for more than 12 months, the gains qualify for long-term capital gains (LTCG) tax at a flat rate of 20% under the current tax regime, without the benefit of indexation.

### Conclusion
There is no restriction on the amount of gold an individual can own in India today. However, it is crucial to maintain proper documentation to prove the source of gold and to be aware of tax liabilities when selling gold assets. As the festive season nears, investors should make informed decisions regarding their gold purchases to stay compliant with the law.
https://www.newsbytesapp.com/news/business/is-there-limit-on-gold-ownership-in-india/story

business, economy, immigration, international, technology

Just 500 TCS employees are on H-1B visas in US

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**Just 500 TCS Employees Are on H-1B Visas in the US**

*By Dwaipayan Roy | Oct 13, 2025, 01:33 PM*

**Tata Consultancy Services (TCS)**, India’s largest IT services company, has announced a significant reduction in its reliance on H-1B visas for its workforce in the United States. According to the company, only about 500 of its employees currently hold H-1B work permits to work in the US.

This move reflects TCS’s strategic shift to localize its workforce in the US and adapt to evolving immigration policies under the Donald Trump administration.

### TCS’s Past Reliance on H-1B Visas

TCS has historically been one of the biggest beneficiaries of the H-1B visa program among Indian IT firms. As of September 2025, the company had received approximately 5,505 H-1B visas, according to data from Moneycontrol.

However, during a recent post-earnings call, TCS’s Chief HR Officer, Sudeep Kunnummal, noted, “We have significantly localized our workforce in the US.” This signals a clear intent to reduce dependence on visa-based employees and increase the presence of local talent.

### Adapting to Changes in Immigration Policy

Kunnummal further emphasized, “We believe our business model will be able to adapt quickly to any changes in immigration policy.” His comments come just a month after the US government announced an increase in the annual H-1B visa fee, a decision that sparked concerns about potential short-term disruptions in workforce deployment for IT companies operating in the US.

### Proposed Overhaul of the H-1B Visa System

In addition to the fee hike, the US Department of Homeland Security has proposed changes to the current lottery-based H-1B visa system. The new proposal aims to implement a wage-based selection process that prioritizes higher-paid and higher-skilled applicants.

This overhaul is part of the US government’s broader effort to ensure that H-1B visas are allocated to the most qualified candidates.

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TCS’s shift toward localizing its US workforce and adapting to these regulatory changes highlights the company’s proactive approach in navigating the evolving landscape of international work visas.
https://www.newsbytesapp.com/news/business/h-1b-visa-tcs-reduces-its-dependence-to-just-500-employees/story

economy, healthcare, medicine, science, technology

Cancer treatment in India is about to become cheaper

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**Cancer Treatment in India Set to Become Cheaper with New Nuclear Reactor**

*By Dwaipayan Roy | Oct 12, 2025, 05:20 PM*

The Department of Atomic Energy (DAE) is planning to build a dedicated nuclear reactor in Visakhapatnam aimed at producing medical isotopes primarily for cancer treatment. This significant initiative is designed to boost India’s self-sufficiency in radioisotope production and make cancer treatment more affordable for patients across the country.

A senior official from the Bhabha Atomic Research Centre (BARC) confirmed that the project is underway and is expected to take four to five years to complete under a Public-Private Partnership (PPP) model.

**Dual-Purpose Reactor to Serve Domestic and Export Markets**

The proposed reactor in Visakhapatnam will fulfill domestic demands for medical isotopes and also have the capacity to cater to international markets through exports. The project has already received government approval, with funding currently awaited.

Under this PPP initiative, private players are expected to invest and become stakeholders, gaining the rights to sell produced radioisotopes. This collaboration aims to accelerate production and distribution while encouraging innovation in the nuclear medicine sector.

**Current Supply Scenario and Challenges**

At present, India lacks a dedicated reactor exclusively for isotope production. Existing nuclear reactors used in medical treatments also conduct physics and radiation experiments, which limits their capacity to focus on isotope generation.

BARC currently supplies approximately two lakh units of nuclear materials annually to medical institutions nationwide for diagnostics and treatment of diseases such as cancer. Major hospitals like Tata Memorial Centre handle about 10% of the total patient load, while around 370 other hospitals collectively manage nearly 60%.

**Reducing Dependence on Imports**

The new reactor is expected to significantly reduce India’s dependence on imported radioisotopes from Europe, Australia, and other Asian countries. Achieving self-sufficiency in isotope production will not only lower treatment costs but also strengthen India’s position as a key player in the global nuclear medicine market.

Radioisotopes produced by the reactor have wide-ranging applications, from medical imaging and cancer treatment to various industrial uses, such as detecting flow malfunctions and ensuring process efficiency.

With this new infrastructure, India moves closer to providing affordable, accessible cancer treatment while expanding its footprint in the rapidly growing nuclear medicine industry.
https://www.newsbytesapp.com/news/india/india-to-get-dedicated-nuclear-reactor-for-cancer-treatment/story

business, economy, international, science, technology

Claude’s technical usage in India higher than rest of world

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**Claude’s Technical Usage in India Significantly Higher Than Rest of the World**

*By Dwaipayan Roy | October 11, 2025, 05:29 PM*

Guillaume Princen, Global Head of Start-ups and Head of Europe, Middle East, and Africa (EMEA) at Anthropic, has revealed that half of the usage of their AI tool, Claude, in India is dedicated to technical purposes. These tasks include user interface (UI) design, code debugging, and software development. This is notably higher than the global average, where only 30% of Claude’s usage involves such technical applications.

**India: Anthropic’s Second Largest Market**

India, home to the world’s fourth-largest developer community, is Anthropic’s second largest market after the United States. Princen shared that around 33% of all Claude conversations globally take place in India, underscoring the scale and reach of Anthropic’s services in the country.

**Expansion Plans: New Office in Bengaluru**

To further strengthen its presence in India, Anthropic plans to open an office in Bengaluru by the first quarter of 2026. The new office will enable the company to launch key offerings more quickly and effectively in one of its largest markets.

Princen emphasized the importance of a local footprint, stating, “You’ll see more of us because we really want to have a local presence.” He added that Anthropic aims to be closer to its users and will build teams across the board to provide enhanced community support.

With these strategic moves, Anthropic is positioning itself to better serve the rapidly growing Indian tech ecosystem and capitalize on the high demand for AI-driven technical solutions.
https://www.newsbytesapp.com/news/science/half-of-claude-s-usage-in-india-is-technical-anthropic/story

business, economy, environment, international, technology

Why EVs and semiconductor components are about to become costlier

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**Why EVs and Semiconductor Components Are About to Become Costlier**
*By Dwaipayan Roy | Oct 11, 2025*

The Global Trade Research Initiative (GTRI) has issued a warning that the ongoing trade conflict between the United States and China is poised to drive up prices for electric vehicles (EVs), wind turbines, and semiconductor components. This caution comes in the wake of US President Donald Trump’s announcement of a new 100% tariff on Chinese imports, set to take effect on November 1, 2025. The move is a response to China’s recent export controls on rare earth minerals—critical to the US defense, EV, and clean energy sectors.

### Trade Implications: Tariffs to Reach 130%

With the introduction of this new tariff, the total tariff rate on Chinese goods will soar to approximately 130%. This marks the most significant escalation in US-China trade tensions since the initial tariff war began. According to the GTRI report, “The impact will be felt quickly. Prices of EVs, wind turbines, and semiconductor parts are expected to rise.”

Furthermore, the report highlights that China may pivot its supply chains to favor its non-Western partners, thereby strengthening alternative industrial networks outside of Western influence.

### Strategic Negotiations: US Reliance on China

The GTRI report draws attention to the strategic importance of rare earth minerals to US industries. It suggests that Washington may soon have little choice but to engage in fresh negotiations with Beijing. Unlike the often impulsive US approach, China appears more deliberate and better prepared in its trade strategy.

The report underscores America’s heavy dependence on China not only for critical electronics but also for textiles, footwear, white goods, and solar panels. This dependency leaves the US vulnerable to retaliatory measures from China.

### Economic Impact: Potential Backfire of Tariff Strategy

As tariffs push prices higher, President Trump may face challenges in controlling inflation and managing production costs domestically. The GTRI warns that his tough stance on China risks backfiring, potentially harming US consumers and undermining his broader economic agenda.

### Trade Advice: India’s Strategic Approach

The GTRI report also offers guidance for India, urging the country to negotiate with the US carefully and on equal terms to ensure reciprocity while preserving its strategic autonomy. Rather than depending on uncertain US promises, New Delhi is advised to prioritize building self-reliance in critical technologies and minerals.

This strategy could insulate India’s economy from future trade shocks and leverage its neutral position to strengthen relationships with both Western nations and BRICS economies.

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*As the trade landscape evolves, stakeholders across industries must prepare for the economic ripples these tariffs will create, especially in sectors reliant on global supply chains such as EVs and semiconductors.*
https://www.newsbytesapp.com/news/business/us-china-trade-war-to-spike-ev-wind-turbine-costs-report/story

business, economy, finance, investment, IPOs

Mutual funds pump ₹6,420cr in IPOs during September quarter

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**Mutual Funds Pump ₹6,420 Crore into IPOs During September Quarter**

*By Dwaipayan Roy | Oct 11, 2025, 05:29 PM*

Indian mutual funds invested ₹6,420 crore in initial public offerings (IPOs) during the July-September quarter of 2025, marking a 13% increase from the previous quarter. This notable surge in investment is attributed to steady inflows into equity schemes via systematic investment plans (SIPs) and lump-sum investments.

According to data from the PRIME Database, mutual funds have played a crucial role in anchoring IPOs, with their participation as anchor investors rising by 32% to ₹5,129 crore last quarter.

### Surge in Large Issuances

Mutual funds’ investment in IPOs through qualified institutional buyers (QIBs) increased significantly, rising 13% from ₹5,689 crore in the June quarter to ₹6,420 crore in the September quarter. This growth is largely driven by a surge in large issuances over recent months.

The number of fresh issuances also jumped sharply to 46 from just 15 in the previous quarter, reflecting a more vibrant IPO market.

### Mutual Funds as Key Anchor Investors

Mutual funds play a vital role as anchor investors in IPOs. They commit to holding 50% of their shares for 30 days and the remaining shares for 90 days. This lock-in period requirement distinguishes them from non-anchor QIBs, which do not have any mandatory lock-in.

Despite market volatility and subdued benchmark index returns this year, investors continue to place strong confidence in mutual funds. Many see them as a strategic way to tap into India’s long-term growth story.

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*Stay tuned for more updates on market trends and investment insights.*
https://www.newsbytesapp.com/news/business/mutual-funds-ipo-investments-rise-13-in-september-quarter/story

business, communication, electronics, finance, technology

PhonePe’s new SmartPOD smart speaker supports card payments too

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**PhonePe’s New SmartPOD Smart Speaker Supports Card Payments Too**

*By Dwaipayan Roy | Oct 07, 2025, 08:03 PM*

PhonePe, a leading player in the digital payments space, has unveiled its next-generation SmartSpeaker, called SmartPOD, at the Global Fintech Fest 2025. This innovative device marks a significant step toward integrating card payments with UPI-based solutions, specifically targeting small merchants.

Designed and manufactured in India, the SmartPOD combines the functionalities of a Point-of-Sale (POS) device and a smart speaker into one compact unit, aiming to simplify digital payments for small businesses.

**Catering to Merchant Needs**

Small businesses in India primarily accept UPI payments but often miss out on sales due to the high costs and complexity of card acceptance solutions. The SmartPOD addresses this gap by offering an affordable way for smaller merchants to accept all forms of digital payments.

Yuvraj Singh Shekhawat, PhonePe’s Chief Business Officer, explained, “It’s an ideal upgrade for smaller merchants who want to accept all forms of digital payments in an affordable way and helps them tap opportunities to expand and grow their business.”

**Enhanced Device Specifications**

Building upon the popular SmartSpeaker 2.0, the SmartPOD retains features such as celebrity voice confirmations, 4G connectivity, and fast charging. It also introduces a dual-display setup — one screen for the customer and another for the merchant — ensuring transparent transaction processes.

The device supports card payments across major networks including Visa, Mastercard, RuPay, and American Express, with NFC tap and EMV chip capabilities, making it versatile and user-friendly.

**Strategic Vision and Availability**

PhonePe emphasizes that the SmartPOD aligns with its broader mission to provide affordable digital payment devices to merchants of all sizes. The company also reassures that its existing hardware solutions will remain available, enabling businesses to choose options that best suit their operational requirements.

As of March 31, 2025, PhonePe boasts over 61 crore registered users and a merchant network encompassing 4.4 crore outlets across India, underscoring its significant footprint in the digital payments ecosystem.

With the launch of SmartPOD, PhonePe continues to empower merchants, especially small businesses, to embrace comprehensive digital payment methods seamlessly and affordably.
https://www.newsbytesapp.com/news/business/phonepe-launches-smartpod-a-smart-speaker-with-card-payment-capabilities/story

business, communication, electronics, finance, technology

PhonePe’s new SmartPOD smart speaker supports card payments too

Leave a comment

**PhonePe’s New SmartPOD Smart Speaker Supports Card Payments Too**

*By Dwaipayan Roy | October 7, 2025, 8:03 PM*

PhonePe, a leading name in the digital payments space, has launched its next-generation SmartSpeaker, called the SmartPOD. Unveiled at the Global Fintech Fest 2025, the SmartPOD marks a significant advancement by integrating card payments alongside UPI-based solutions specifically designed for small merchants.

**Designed for Small Businesses**

The SmartPOD is designed and manufactured in India, combining the functionalities of a Point-of-Sale (POS) device and a smart speaker into one compact unit. This device caters to the growing demand among small businesses that primarily accept UPI payments but often miss out on sales due to the lack of affordable card acceptance options.

Yuvraj Singh Shekhawat, PhonePe’s Chief Business Officer, commented, “It’s an ideal upgrade for smaller merchants who want to accept all forms of digital payments in an affordable way and helps them tap opportunities to expand and grow their business.”

**Advanced Features and Specifications**

Building on the foundation of the SmartSpeaker 2.0, the SmartPOD retains popular features such as celebrity voice confirmations, 4G connectivity, and fast charging. It also introduces a dual-display setup—one screen for customers and another for merchants—to enable transparent and seamless transactions.

Importantly, the SmartPOD supports card payments from all major networks including Visa, Mastercard, RuPay, and American Express. It supports modern payment technologies like NFC tap and EMV chip, broadening the payment options available to merchants.

**Strategic Vision and Availability**

PhonePe emphasizes that the launch of SmartPOD aligns with its broader vision to provide affordable and accessible digital payment devices to merchants of all sizes. The company also confirmed that all its existing hardware solutions will remain available, allowing businesses to choose devices that best suit their operational requirements.

As of March 31, 2025, PhonePe boasts over 610 million registered users and an extensive merchant network comprising 44 million outlets across India, underscoring its dominant position in the digital payments ecosystem.

—

With the introduction of SmartPOD, PhonePe continues to empower small merchants by offering versatile and cost-effective payment solutions, further driving digital payment adoption across the country.
https://www.newsbytesapp.com/news/business/phonepe-launches-smartpod-a-smart-speaker-with-card-payment-capabilities/story

business, economy, international, politics, technology

This is Modi government’s stance on cryptocurrency in India

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**Modi Government’s Stance on Cryptocurrency in India**
*By Dwaipayan Roy | Oct 07, 2025, 04:24 PM*

**What’s the story?**
Union Commerce Minister Piyush Goyal recently clarified the Indian government’s position on cryptocurrency. During his two-day visit to Doha aimed at boosting trade and investments between India and Qatar, Goyal stated that the government neither promotes nor discourages cryptocurrencies but focuses primarily on taxing them.

**Taxation Focus**
Goyal emphasized that the government intends to regulate cryptocurrencies through heavy taxation rather than imposing an outright ban. “As far as cryptocurrency, which is not backed by the Central Government, while there is no ban as such, we are taxing it very heavily,” he said. This approach is designed to protect people from getting trapped in unbacked cryptocurrencies that lack a support system.

**Digital Currency: India’s Sovereign Digital Rupee**
In addition to regulating existing cryptocurrencies, India is planning to introduce a sovereign digital currency backed by the Reserve Bank of India (RBI). According to Goyal, the new digital rupee will possess features similar to stablecoins and will incorporate blockchain-based traceability to ensure transparency and compliance. “Our idea is that this will only make it easier to transact,” he added.

**Tax Regulations on Virtual Digital Assets (VDAs)**
India has established a clear tax framework for virtual digital assets (VDAs), including cryptocurrencies and NFTs, although it does not recognize them as legal tender. The Union Budget for 2022-23 introduced a 30% tax on income generated from the transfer of VDAs. This tax rate applies regardless of any profit or loss incurred in other transactions within the taxpayer’s portfolio. Additionally, a 1% Tax Deducted at Source (TDS) was implemented on all crypto transactions exceeding ₹10,000 starting July 1, 2022.

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This balanced stance reflects the Indian government’s cautious approach towards cryptocurrencies—regulating through taxation and planning its own sovereign digital currency, while avoiding an outright ban.
https://www.newsbytesapp.com/news/business/we-are-not-encouraging-cryptocurrency-says-piyush-goyal/story

business, economy, international, politics, technology

This is Modi government’s stance on cryptocurrency in India

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**This is Modi Government’s Stance on Cryptocurrency in India**
*By Dwaipayan Roy | Oct 07, 2025 | 04:24 PM*

—

**Union Commerce Minister Piyush Goyal Clarifies Government Position**

Union Commerce Minister Piyush Goyal recently clarified the Indian government’s stance on cryptocurrency during his two-day visit to Doha aimed at boosting trade and investments between India and Qatar.

Goyal emphasized that the government neither promotes nor discourages cryptocurrencies but imposes taxation on them. “We have not been encouraging cryptocurrency, which does not have sovereign backing or which is not backed by assets,” he stated.

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**Heavy Taxation Instead of a Ban**

Unlike some countries that have banned cryptocurrencies outright, India has chosen a different approach. Goyal explained that the government intends to regulate cryptocurrencies primarily through heavy taxation.

“As far as cryptocurrency, which is not backed by the Central Govt, while there is no ban as such, we are taxing it very heavily,” he said. This strategy aims to protect people from falling victim to unbacked cryptocurrencies lacking any formal support system.

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**India’s Plan to Introduce a Sovereign Digital Currency**

In addition to regulating private cryptocurrencies, India plans to roll out a sovereign digital currency backed by the Reserve Bank of India (RBI). This new digital rupee will share characteristics similar to stablecoins and will feature blockchain-based traceability to ensure transparency and compliance.

“Our idea is that this will only make it easier to transact,” Goyal remarked regarding the upcoming digital currency.

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**Clear Tax Framework for Virtual Digital Assets**

India has established a defined tax framework for virtual digital assets (VDAs), such as cryptocurrencies and NFTs, despite not granting them legal tender status.

In the Union Budget 2022-23, the government introduced a 30% tax on income earned from the transfer of VDAs. This tax rate applies regardless of any profit or loss from other transactions in the taxpayer’s portfolio. Additionally, from July 1, 2022, a 1% Tax Deducted at Source (TDS) is levied on all crypto transactions above ₹10,000.

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**Summary**

To summarize, the Modi government’s approach to cryptocurrency emphasizes regulation through significant taxation rather than prohibition. While discouraging unbacked cryptocurrencies, the government is moving forward with its own digital currency initiative to facilitate easier and more transparent transactions in India’s financial ecosystem.
https://www.newsbytesapp.com/news/business/we-are-not-encouraging-cryptocurrency-says-piyush-goyal/story