The Economic Times News

As 2025 concludes, ISRO gears up for a transformative 2026 with seven missions, including crucial Gaganyaan tests. India's human spaceflight dream hinges on qualifying the LVM3, validating the Crew Escape System, and perfecting re-entry trials. Success will position India among the elite spacefaring nations, showcasing technological prowess and driving innovation.

Middle Eastern utility Masdar's failed ReNew Power deal was followed by significant Japanese investments in India's financial sector. Japanese megabanks are increasingly channeling billions into India, driven by geopolitical shifts and a desire to diversify from China. Meanwhile, Middle Eastern sovereign wealth funds are becoming selective in their Indian investments, influenced by US foreign policy.

India and Oman have forged a new chapter in their trade journey by signing a Comprehensive Economic Partnership Agreement. This agreement not only reinforces their historical ties but also sets the stage for a thriving economic future. It opens doors for India to explore diverse export markets, particularly in the Gulf.

Parliament has replaced MGNREGA with a new bill, the Viksit Bharat-Guarantee for Rozgar and Ajeevika Mission (Gramin) Bill, 2025. While the name has changed, the core economic design of linking public expenditure to labour and asset creation remains intact. The government's pragmatic approach prioritizes durable asset creation and labour participation over unconditional cash transfers.

2026 will see AI agents manage workflows and humanoid robots enter factories. Search engines will become answer engines. Smart glasses will become common. Big tech companies will see major IPOs. AI will impact entry-level jobs, leading to societal shifts. Human-made content will gain value. India will become a voice-driven AI market with democratised compute access.

An Italian minister has exposed a fake carbonara sauce sold in Europe. The sauce contained pancetta and dairy cream, not the traditional guanciale and egg mixture. This has angered Italy, which is protective of its culinary heritage. Similar issues arise with 'spag bol', which Bologna says is not authentic. Italians insist on correct ingredients and pasta pairings for their dishes.

Once a battleground of ideologies, Berlin now stands as a vibrant melting pot of cultures. The city's beloved Pfannkuchen, a delightful pastry, serves as a sweet reminder of its unique culinary identity, distinct from the American doughnut. Street foods like Currywurst embody the city's spirited evolution, blending tradition with innovation.

Author photos may or may not reflect their writing, but they're still beguiling

Donald Trump's executive order reclassifying marijuana from Schedule 1 to Schedule 3 for medical use has surprised many, challenging typical political stereotypes. This move, alongside personal anecdotes, highlights how preconceived notions about individuals and groups are often inaccurate and based on lazy assumptions, urging readers to embrace complexity.

India is proposing a new model for AI training on copyrighted content. This approach differs significantly from international practices. It includes payment obligations and revenue sharing for AI developers. Critics argue the model is overly complex and may be unconstitutional. The proposal could create challenges for Indian AI developers and copyright owners alike.

India stands at a pivotal juncture where economic growth, industrial innovation, and technological advancement intersect, propelled by vibrant domestic demand and steady policy direction. The manufacturing sector is transforming to emphasize value creation, integrating more robustly with international supply chains, particularly in fast-growing areas like electronics and pharmaceuticals.

Donald Trump's National Security Strategy predicts civilizational erasure in Europe due to migration. The article argues this fear is unfounded, contrasting modern immigrants with historical colonizers. Immigrants integrate, enriching host countries. While demographic shifts are occurring, the threat of erasure is exaggerated. Countries like the US, Canada, and Australia embrace immigration as vital for growth.

India's travel industry is under scrutiny as the framework for consumer protection is put to the test by recent airline cancellations. The Competition Commission of India is launching an investigation into IndiGo, examining the potential for antitrust breaches. While fluctuating fares are permitted, exploitative tactics are off-limits.

India's tax authorities are increasingly using General Anti-Avoidance Rules, or GAAR. Recent rulings show GAAR targeting corporate restructurings and treaty structures. Courts are clarifying GAAR's limits, emphasizing genuine commercial substance. Businesses must align tax planning with economic purpose. Authorities need judicious application to maintain predictability and fairness.

India's new direct tax law in 2025 simplifies income tax. It introduces a uniform tax year and consolidates salary exemptions. Optional joint taxation for couples is proposed, potentially reducing tax burdens. A legally enforceable Taxpayers' Charter is needed for fairness. Reviving the tax ombudsman office would strengthen compliance and taxpayer rights.

In a recent discussion, Jeff Bezos posited that true wealth represents the value contributed to society. While this perspective sounds appealing, it doesn't align with the harsh realities of economic dynamics. In the realm of Western capitalism, personal wealth is often prioritised, creating a culture of individualism.