The Economic Times News

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.

New rules aim to curb deepfakes by labeling synthetic content. However, these proposals place undue burden on social media platforms. Experts argue this approach misinterprets platform roles and neglects to punish actual creators of harmful content. The focus should be on identifying offenders and removing malicious material, not solely on intermediaries.

India-US ties faced a difficult year in 2025. Political goodwill was low; high tariffs impacted trade. People-to-people connections were strained. Defence cooperation continued, and Big Tech invested heavily in India. However, delivery delays and stalled negotiations created challenges. As of now, India maintains its domestic compulsions and red lines.

America's shift away from global leadership is creating uncertainty. The US is no longer acting as the world's policeman. This means nations must now secure themselves. China's influence is growing, even as India faces new challenges alone. The global order built after World War Two is eroding. This era of prosperity may be ending. The future is uncertain for global commerce and investment.

Indian households are spending more on non-food items and durable goods. This shift indicates growing prosperity and better market access for millions. Rural spending on durables has surged significantly. Ownership of vehicles, mobile phones, refrigerators, and TVs is becoming common. This trend presents opportunities and challenges for policy and manufacturing.

The WTO's Appellate Body is dysfunctional due to US obstruction, leading to a void in appeals. A coalition of 57 WTO members, including the EU and Britain, has established the Multi-Party Interim Arbitration (MPIA) agreement as an alternative.

India is undergoing a significant systemic transformation. Reforms are being implemented across various sectors, including nuclear energy and quality control. Environmental norms are being relaxed, and regulations are being simplified. These measures aim to boost industry and reduce government intervention. The focus is on making India more competitive and indispensable in global supply chains.

Football legend Lionel Messi's India tour has drawn criticism. Selling tickets for fan interactions is seen as exploiting a global icon. This approach prioritizes profit over genuine fan engagement. The timing is unfortunate as Indian football faces uncertainty. Such events risk deterring future legitimate sporting initiatives in India.

The global lesson is not that India should replicate Singapore or the Gulf. Geography, income levels and state capacity differ materially. The lesson is more subtle: successful aviation systems align revenue potential, cost structures and policy objectives.

A 2017 rape case in Kerala's film industry has ignited a powerful movement for women's rights. Despite a recent court verdict clearing actor Dileep, public outrage and support for the survivor are immense. This has spurred systemic changes, including new funds and committees. Kerala's film professionals are creating their own vocabulary for change, demonstrating a significant shift in the industry.

As we navigate a world where everything is just a click away, familiar maxims such as 'Slow and steady wins the race' are starting to fade into the background. Terms like FOFO reflect our growing trepidation around being overwhelmed by choices, as quick satisfaction and information overload take precedence over the patience and thoroughness of previous generations.

Celebrities are showcasing the value of hard work. From Meghan Markle demonstrating home skills to Bollywood stars performing at weddings, the message is clear. Even political figures like Rahul Gandhi are trying new ventures. These actions encourage everyone to embrace diverse tasks. The article highlights that no work is beneath you when compensated fairly.

A recent government directive to pre-install the Sanchar Saathi app on mobile phones faced backlash. This mirrors instances in other countries where mandatory app installations have been met with public disapproval. The article argues that voluntary adoption, driven by user benefits and convenience, proves more successful than government mandates.

India's 22-year-old nuclear doctrine, based on 'no first use' and 'credible minimum deterrence', faces urgent re-evaluation. With aggressive neighbors rapidly expanding arsenals and rejecting NFU promises, the current policy risks unilateral disarmament. Modern warfare's speed and evolving threats necessitate a clear, updated doctrine to safeguard national interests.