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BusinessEconomic Times ·

US Labor Dept Reports Sharp Decline in PERM Applications from Major Indian IT Firms

The US Department of Labor reported a significant drop in PERM applications from major Indian IT companies in the first quarter of FY25. Firms including TCS, Infosys, and Wipro saw a collective decrease of over 30% compared to the same period last year. The PERM process is the first step for employers seeking to sponsor foreign workers for US green cards. The decline reflects reduced demand for US work visas amid a global slowdown in tech spending and increased local hiring in North America.

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BusinessEconomic Times ·

IAF Chief Clarifies No Formal US Offer for F-35 Fighter Jets to India

Indian Air Force chief Air Chief Marshal V.R. Chaudhari stated that the United States has not made a formal offer to supply F-35 fighter jets to India. His comments, reported by The Economic Times, addressed recent speculation about a potential deal. Chaudhari emphasized that any such procurement would follow a detailed process, including an evaluation of operational requirements. He indicated that the IAF is currently focused on integrating the already-contracted Rafale aircraft.

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BusinessEconomic Times ·

West Bengal and Delhi Chief Ministers released after detention amid protests

West Bengal Chief Minister Mamata Banerjee and Delhi Chief Minister Arvind Kejriwal have been released from detention. The two opposition leaders were detained earlier by authorities amid protests over the contentious Agnipath military recruitment scheme. Their release follows a day of widespread demonstrations across several states. The protests and detentions highlight the significant political opposition to the new government policy.

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BusinessEconomic Times ·

Mahindra and Embraer form $590 million joint venture for defense aircraft

Mahindra Defence Systems has entered into a joint venture with Brazilian aerospace firm Embraer. The deal, valued at approximately 5,100 crore rupees ($590 million), was announced on Tuesday. The venture will focus on the development and production of the C-390 Millennium military transport aircraft for the Indian Air Force. This partnership aims to strengthen India's defense manufacturing capabilities under the 'Make in India' initiative.

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BusinessEconomic Times ·

Jeff Bezos donates $100M to fund Little Rock park renovation

Jeff Bezos has committed $100 million through his foundation for a park renovation project in Little Rock, Arkansas. The grant was announced by the Bezos Day 1 Families Fund. This major donation is designated for the creation of a new public park at the former site of a shopping mall. The initiative is part of Bezos's broader philanthropic efforts focused on community and family support.

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BusinessEconomic Times ·

Commerce Minister Goyal Criticizes Rahul Gandhi's Economic Remarks

Commerce and Industry Minister Piyush Goyal has criticized Rahul Gandhi's speech in Parliament regarding economic inequality. Goyal stated the Congress leader's claims lacked supporting data, facts, or proof. The remarks were made on July 2, during the ongoing parliamentary session in New Delhi. Goyal argued the speech was based on generalizations without concrete evidence.

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BusinessEconomic Times ·

Former IAS, IFS officers write open letter backing anti-NEET protestors

A group of former Indian Administrative Service and Indian Foreign Service officers penned an open letter. They expressed support for the ongoing protests in Tamil Nadu against the NEET medical entrance exam. The letter, made public on Monday, called the protests a legitimate democratic expression against perceived injustice. The officers urged the Union Government to respect Tamil Nadu's longstanding opposition to NEET and address the concerns of the protestors.

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BusinessEconomic Times ·

Wangchuk Threatens Protest Fast or March Demanding Ladakh's Statehood

Ladakh activist Sonam Wangchuk stated he will begin an indefinite hunger strike or march from January 26 if the Indian government does not fulfill its promise to grant statehood to the region. He made this announcement during a public address in Leh on Monday. Wangchuk's demands are part of a long-standing movement seeking greater autonomy and constitutional safeguards for Ladakh. The activist referenced unmet assurances from the central government made during earlier discussions.

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BusinessEconomic Times ·

Priyanka Gandhi Criticizes Modi-Shah Governance as 'Dictatorship'

Congress leader Priyanka Gandhi Vadra has described the current central government's rule under Prime Minister Narendra Modi and Home Minister Amit Shah as a 'dictatorship'. She made these remarks during a public meeting in Rae Bareli, Uttar Pradesh. Gandhi accused the BJP-led government of suppressing democratic institutions and undermining constitutional values. Her comments are part of the opposition's intensified criticism of the ruling party ahead of the ongoing general elections.

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BusinessEconomic Times ·

India's CAFE III regulations aim to cut vehicle running costs, boost EV adoption.

The Indian government is implementing new CAFE III vehicle efficiency standards. These regulations aim to reduce the running costs of cars for consumers by enforcing stricter fuel economy targets. The policy is also designed to accelerate the adoption of electric and hybrid vehicles in the market. The changes are expected to influence future vehicle design and purchasing decisions.

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