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India's US Treasury Holdings Hit Six-Year Low Amid Gold Reserve Increase
India's holdings of US Treasury securities have fallen to a near six-year low of $181 billion in April, as the Reserve Bank of India diversifies its foreign asset portfolio by increasing gold reserves to 881 metric tonnes.
TCS Q1FY27 Results: Modest Profit Growth Expected Amidst Weak Client Spending and AI Pressure
Tata Consultancy Services (TCS) is projected to report modest profit growth for Q1FY27, with revenue expected to be nearly flat sequentially. Factors like weak client spending, wage hikes, and AI-driven pricing pressure are impacting performance. Investors will focus on management commentary regarding demand recovery, BFSI growth, margins, and AI strategy.
Gold Prices Stable Across Indian Cities on July 9, 2026; Tanishq Sees Minor Rise
Gold prices remained largely steady in major Indian cities on July 9, 2026. Tanishq showed a slight increase in 22K gold jewellery prices from the previous day, while other retailers like Malabar Gold & Diamonds saw adjustments. Consumers are advised to compare rates across brands. The India Bullion and Jewellers Association also released updated rates.
India's Chief Economic Adviser Urges Industry to Invest in Skilling and Innovation Amidst AI Disruption
Chief Economic Adviser V Anantha Nageswaran urged Indian industry to invest in skilling and innovation to counter AI's impact on business models. He highlighted government support for Global Capability Centres (GCCs) and encouraged their expansion beyond metros, emphasizing a shift from cost-based execution to capability and innovation.
Reporting Foreign Assets in ITR: Who Needs to File Schedule FA?
Resident and ordinarily resident individuals must report foreign assets in Schedule FA of their income tax return by July 31, 2026. Non-resident Indians and resident but not ordinarily resident individuals are exempt. The schedule requires peak values and beneficial ownership details, with penalties under the Black Money Act for non-compliance.
India Extends Customs Duty Concessions on Electronics Manufacturing Components
India has extended customs duty concessions on machinery and components for electronics manufacturing, including lithium-ion batteries and display modules, until March 31, 2029. This move aims to reduce import costs and support domestic manufacturing in sectors like electric mobility.