Author - Tejram Sharma

Biden to fund $2T infra plan via corporate taxes


Washington: President Joe Biden unveiled a more than $2 trillion infrastructure package on Wednesday as his administration shifts its focus to bolstering the post-pandemic economy. The plan includes roughly $2 trillion in spending over eight years, and would raise the corporate tax rate to 28% to fund it, an administration official told reporters Tuesday. The White House said...

AAPI urges government to proactively prevent attacks on Asian Americans

Post Date: April 1, 2021

Chicago, IL: “AAPI wants to express our deep concerns and anguish about the violence the nation has witnessed against people of Asian origin,” Dr. Sudhakar Jonnalagadda, President of American Association of Physicians of India Origin (AAPI) said here. In a statement issued here Dr. Jonnalagadda condemned the incidents of growing violence, and said, “We at...

Indian Consulate launches [email protected] at GOPIO-Manhattan’s Shaheed Diwas celebrations


New York: Shaheed Diwas or Martyrs' Day is observed on six days across India which includes January 30th and March 23rd each year to remember the sacrifices of brave freedom fighters who devoted their entire lives to help us enjoy freedom. Global Organization of People of Indian Origin (GOPIO) along with the Consulate General of India in New...

Indian American IIT Kanpur alum donates $2.5M for setting up medical school


New York: The Micky and Vinita Pant Charitable Fund, founded by IIT Kanpur alumnus Muktesh Pant and his wife Vinita, on Saturday announced the signing of an MoU with his alma mater to support the establishment of the School of Medical Research and Technology (SMRT). The MoU, amounting to $2.5 million, is the first such...

India’s 2021 economic output may remain below 2019


New Delhi: Although India is witnessing a recovery in economic activities and businesses, its economic output is expected to remain below the 2019 level, said a report by US Economic and Social Commission for Asia and the Pacific (ESCAP).   For FY22 starting April 1, the USESCAP report has projected a growth rate of 7 per...

NRI investments on non-repatriation basis not indirect foreign investments

Post Date: April 1, 2021

New Delhi: Investments made by non-resident Indians (NRIs) on a non-repatriation basis will not be considered for calculation of indirect foreign investment. The Department for Promotion of Internal Policy and Trade (DPIIT) under the Ministry of Commerce and Industry has reviewed the policy on downstream investments made by non-resident Indians (NRIs). This means an addition to...

SC verdict validates ethics of Tata Group: Ratan Tata


New Delhi: Appreciating the Supreme Court judgment which set aside the NCLAT order that had restored Cyrus Mistry as the executive chairman of the Tata Sons, Ratan Tata, the Chairman Emeritus of Tata Sons said that the verdict is a validation of the values and ethics of the group. "It is not an issue of...

US proposes action against India’s equalization levy


New Delhi: The United States Trade Representative has announced initiation of investigation against the taxation on digital services adopted or under consideration by countries including the equalization levy applied by India. The other counties under investigation included Italy, Turkey, UK, Spain and Austria. A statement from the office of the USTR said that in January it...

South Carolina chapter of Indian American International Chamber of Commerce inaugurated


The Governor of South Carolina, Henry McMaster declared March 24 as the “IAICC-South Carolina Chapter Day” in  a proclamation, at the inauguration of the Indian American International Chamber of Commerce South Carolina Chapter at the Governor’s Mansion in  Columbia, South Carolina.   Governor McMaster presented the proclamation to KV Kumar, President & CEO of IAICC at...