Daily News - Wednesday, 25 March 2026
India-Taiwan AI Partnership Hits USD $12.5 Billion (Republic World)
At the Convergence India Expo 2026 in New Delhi, the spotlight was on the India-Taiwan AI collaboration, marked by the launch of the Taiwan Excellence Pavilion. Organized by Taiwan’s Ministry of Economic Affairs and executed by TAITRA, the pavilion showcased over 40 products from 17 award‑winning companies, divided into three zones: Edge AI & Industrial Computers, Next‑generation Data Storage Solutions, and Future Communication & Smart Mobility. Speaking at the launch, Estela Chen, Executive Director of the Economic Division at the Taipei Economic and Cultural Center in India, highlighted that bilateral trade between India and Taiwan had reached a record USD $12.5 billion (INR ~104,000 crore). Taiwanese firms are investing in India’s electronics, semiconductor, and automotive sectors, while Indian businesses are finding opportunities in Taiwan’s IT and engineering industries. Companies like Phison, ADLINK, IBASE, Lanner, and Wincomm demonstrated enterprise applications ranging from AI storage solutions and rugged edge platforms to healthcare‑grade edge computing systems. The collaboration aligns Taiwan’s strengths in semiconductors and resilient supply chains with India’s Digital India and Smart Cities Mission, positioning both nations to drive the next phase of economic growth.
India Forms 7 Secretary‑Level Panels to Tackle Fuel, Fertilizer, Gas Supply (Financial Express)
Prime Minister Narendra Modi told Parliament on March 25, 2026 that the war in West Asia has created a severe global energy crisis, disrupting supplies of petrol, diesel, gas, and fertilizers and affecting India’s trade routes. He emphasized that the Strait of Hormuz, which carries nearly 20% of global oil and LNG shipments, must be reopened, calling attacks on commercial ships and blockades of international waterways unacceptable. Modi highlighted that Indian crew members are stranded on ships and nearly one crore Indians in Gulf countries face uncertainty, making their safety and livelihood a priority. To manage the crisis, the government has formed seven empowered groups led by secretary‑level officers, covering areas such as supply chains, fuel, fertilizers, gas, and inflation control, alongside an inter‑ministerial group. He noted India’s energy resilience measures, including imports from 41 countries and strategic petroleum reserves exceeding 53 lakh metric tonnes, with plans to expand beyond 65 lakh metric tonnes. Modi urged state governments to ensure uninterrupted supply of essentials and act against hoarding, stressing that coordinated action across the Centre and states is vital to confront this global crisis.
India:UAE Trade Pact - India Extends UAE Gold Import Authorisations to June 30, 2026 (Reuters)
India has extended tariff rate quota (TRQ) authorisations for gold imports from the United Arab Emirates (UAE) until June 30, 2026, under the India‑UAE trade pact. The Directorate General of Foreign Trade (DGFT) announced that this extension, originally set to expire on March 31, was granted due to prevailing geopolitical developments affecting global trade and logistics. Importers will not need to reapply or pay additional fees, as the extension will be applied automatically. This move is significant because India is the world’s second‑largest consumer of gold, with annual imports valued at over USD $35 billion (INR ~2.9 lakh crore), and the UAE is one of its largest suppliers. The decision also comes at a time when disruptions in West Asia and volatility in oil and commodity markets are impacting India’s trade flows. By extending the TRQ window, the government aims to ensure stability in the jewellery sector and safeguard supply chains amid global uncertainty.
Indian Government Collected USD $1.14 Billion Tax on Hidden Foreign Assets in 3 Years (Angel One)
Over the past three years, the Government of India has collected INR ₹9,516 crore (USD $1.14 billion) in taxes on undisclosed foreign assets under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015. According to Minister of State for Finance Pankaj Chaudhary’s reply in Lok Sabha, investigations linked to global leaks uncovered assets worth INR ₹14,636 crore (USD $1.75 billion), with combined tax and penalty demands exceeding INR ₹41,257 crore (USD $4.93 billion). Collections rose sharply year‑on‑year: INR ₹949.51 crore (USD $114 million) in FY24, INR ₹4,556.64 crore (USD $545 million) in FY25, and INR ₹4,009.64 crore (USD $480 million) in FY26 (till December 2025), reflecting stronger enforcement. The Income Tax Department completed 1,368 assessments, aided by international cooperation frameworks such as the OECD’s Common Reporting Standard (CRS) and U.S. FATCA, which provide automatic exchange of financial account information. To widen compliance, the Union Budget 2026 introduced the Foreign Assets of Small Taxpayer Disclosure Scheme (FAST‑DS), offering a six‑month window for voluntary disclosure with reduced penalties. This crackdown underscores India’s push to curb offshore tax evasion and strengthen transparency in global financial dealings.
