Economy News ( English version)

Institutional Investor Advisory Services India has criticized IndiGo's promoter Rahul Bhatia for his perceived lack of executive leadership during the airline's recent operational crisis, which saw over 4,500 flight cancellations in the first week of December.

IndiGo faces a penalty of nearly ₹59 crore linked to GST for the financial year 2020-21. The airline plans to contest this order, claiming it is erroneous, while assuring that it will not significantly impact its financials or operations.

IndiGo argues the levy amounts to double taxation on imported services, a stance upheld by a landmark Delhi High Court ruling in March.

OpenAI plans to launch an 'adult mode' for ChatGPT in early 2026, allowing verified adult users more freedom in interactions. Age verification is rolling out to ensure minors are blocked from mature content. More details here. 

Sam Altman penned a heartfelt blogpost on OpenAI's 10th anniversary, acknowledging that they “set out to do something crazy” but that the ChatGPT-maker has “achieved more than I dared to dream possible”. Here's what he said…

A range of issues relating to bilateral ties were discussed during two-day visit to Beijing of Sujit Ghosh, the joint secretary in the East Asia division at the Ministry of External Affairs (MEA).

India and Oman are set to sign a free trade agreement. The pact will be signed during Prime Minister Narendra Modi's visit to Oman from December 17-18. This Comprehensive Economic Partnership Agreement aims to boost trade and investment between the two nations. Oman is a significant export market for India in the Gulf region.

India's ability to use compulsory licensing remains unrestricted by the India-UK free trade agreement. This vital tool for accessing life-saving technologies during emergencies is fully preserved. The agreement also grants Indian companies guaranteed access to the UK's public procurement market, valued at over 90 billion pounds annually. Negotiatio […]

The government has raised the minimum support price for milling copra to Rs 12,027 per quintal and for ball copra to Rs 12,500 per quintal for the 2026 season. This move aims to provide better returns to coconut growers and boost production. NAFED and NCCF will continue as nodal agencies for procurement.

Reserve Bank of India Deputy Governor T. Rabi Sankar cautioned against stablecoins, citing significant macroeconomic risks and their lack of unique utility compared to fiat money. He emphasized that these digital tokens do not offer benefits beyond what traditional currency can provide, and India will maintain a cautious approach to such innovations.