New Delhi, Aug 16 (IANS) Individual users worldwide have spent $2 billion on the ChatGPT mobile app through iOS and Android platforms since the AI application’s launch in May 2023, according to a report on Saturday.In 2025, revenue of the application grew 673 per cent year-over-year. The app has clocked 318 million downloads in 2025, 2.8 times higher than during the same period last year, TechCrunch reported.India has the highest lifetime installs at 13.7 per cent, while the US followed with 10….

New Delhi, Aug 16 (IANS) The government’s plan to overhaul the Goods and Services Tax (GST) structure will give Indian consumers more disposable income, potentially boosting demand and overall consumption in the economy, said Najib Shah, former Chairman of the Central Board of Excise and Customs (CBEC) on Saturday.The Central government has mulled reducing the current four-slab structure into two primary rates — 5 per cent and 18 per cent — while introducing a special 40 per cent slab for luxu…

New Delhi, Aug 16 (IANS) The announcement of next-generation GST reforms as a “Diwali gift” is a major step towards improving tax efficiency, enhancing compliance, and simplifying processes, according to industry chambers.These reforms will not only reduce the tax burden on citizens and businesses but also boost the ease of doing business, stimulate domestic consumption, and attract greater investments.“Equally noteworthy are the government’s continuing efforts to modernise regulations a…

New Delhi, Aug 16 (IANS) The Donald Trump administration may not impose secondary tariffs on India over purchasing Russian energy, as the US President said that Russia has already lost a key oil client.Speaking to Fox News aboard Air Force One en route to Alaska, Trump said the US may not impose secondary tariffs on countries continuing to buying Russian crude oil.”Well, he (Vladimir Putin) lost an oil client, so to speak, which is India, which was doing about 40 per cent of the oil. China, as y…

New Delhi, Aug 16 (IANS) Leading tax expert Ajay Rotti on Saturday welcomed the government’s plan to overhaul the Goods and Services Tax (GST) structure, primarily into two tax slabs of 5 per cent and 18 per cent.The Central Government has mulled reducing the current four-slab structure into two primary rates — 5 per cent and 18 per cent — while introducing a special 40 per cent slab for luxury and sin goods.Around 99 per cent of items currently taxed at 12 per cent are expected to shift to …

Washington, Aug 16 (IANS) US President Donald Trump has said his administration will unveil tariffs on semiconductor imports as early as next week, as South Korean tech firms Samsung Electronics and SK hynix have been carefully watching his tariff policy developments.Trump made the remarks in a meeting with reporters aboard Air Force One, as he was en route to Alaska for talks with Russian President Vladimir Putin — the high-stakes meeting where Trump is seeking to broker a halt to the war in U…

New Delhi, Aug 16 (IANS) There will be no trade agreement that will harm the interests of our farmers, Union Agriculture Minister Shivraj Singh Chouhan has said, adding that Prime Minister Narendra Modi has placed farmers’ welfare and national interest above all else.India’s rapid development has made some parts of the world uneasy.“Our philosophy is ‘Vasudhaiva Kutumbakam’ — the world is one family — and our agreements are based on equality,” said the minister during an interact…

New Delhi, Aug 16 (IANS) The National Highways Authority of India (NHAI) has successfully implemented the ‘FASTag Annual Pass’ facility at about 1,150 toll plazas on National Highways and Expressways across the country.The annual pass has received an overwhelming response from the National Highway users, according to the Ministry of Road Transport and Highways.Till 7 p.m. on the first day of implementation on August 15, around 1.4 lakh users purchased and activated the annual pass and around…

New Delhi, Aug 15 (IANS) Business owners and traders across the country have welcomed Prime Minister Narendra Modi’s announcement of next-generation GST reforms, calling it a much-needed step to simplify the tax system and boost trade.Federation of Sadar Bazar Traders Association Vice-President Paramjit Singh Pamma said the reforms will bring significant relief to traders who currently face tax rates ranging from 5 per cent to 28 per cent.“This has been a long-standing demand of the trading …

New Delhi, Aug 15 (IANS) India and Singapore held a joint working group meeting here to focus on deepening bilateral trade and investment ties, identifying priority sectors for greater alignment, improving logistics and supply chains, streamlining regulatory frameworks, and exploring ways to facilitate cross-border trade according to an official statement issued on Friday.The meeting reviewed ongoing collaboration in areas such as the semiconductor sector and digitalisation of trade, and explore…