President Donald Trump's proposed "One Big Beautiful Bill Act" aims to impose a 5% tax on all international money transfers made by non-US citizens, including H-1B visa holders and green card holders. This tax would affect nearly 4.5 million Indians in the U.S., potentially costing the Indian community $1.6 billion annually, based on the $32 billion remitted from the U.S. to India in 2023-24. The tax applies to all remittances, including investment income and stock option proceeds, with no exemption threshold. The bill also allocates $46.5 billion for border wall construction and immigration enforcement, including hiring additional agents and imposing a $1,000 fee on asylum seekers. (PC: Mint)

In May 2025, the United States rejected 15 shipments of Indian mangoes at major entry points including Los Angeles, San Francisco, and Atlanta airports. The rejections were due to discrepancies in the PPQ203 form, which certifies irradiation treatment—a mandatory requirement for mango exports to the US. Although the mangoes were treated at USDA-approved facilities in Mumbai, errors in documentation led to their denial. Exporters, unable to afford re-shipment or storage, chose to destroy the consignments, resulting in losses exceeding $500,000. The incident highlights the need for strict compliance in export documentation. (PC: The Economic Times)

On May 17, 2025, former U.S. President Donald Trump claimed he prevented a nuclear war between India and Pakistan. In an interview with Fox News, Trump said tensions had escalated dangerously after the Pahalgam terror attack and India’s Operation Sindoor. He asserted that his timely diplomatic engagement helped de-escalate the crisis. Trump emphasized, “I stopped that war… very close [to nuclear war].” He also highlighted India's readiness to ease tariffs on U.S. goods following the talks. Indian authorities have not officially confirmed Trump’s role in the de-escalation. His remarks have sparked renewed global debate. (PC: Potus)

Vodafone Idea (Vi) has issued a warning that it may not be able to continue operations beyond the financial year 2026 without further government aid. The telecom company is grappling with heavy debt and fierce competition in India’s market. Despite efforts to improve its financial health, Vi’s survival depends heavily on more support from the government, which holds a significant stake in the firm. This highlights the ongoing financial challenges in the Indian telecom sector and the critical role of government intervention for Vi’s future. (PC: The Economic Times)  

Turkey-based Çelebi Aviation Holding's shares plummeted nearly 20% over two days after India revoked security clearance for its Indian subsidiaries, citing national security concerns. The Bureau of Civil Aviation Security's decision halts Çelebi's operations in India, which contributed a third of its 2024 revenue. The move follows India's backlash against Turkey's support for Pakistan in a recent conflict. Çelebi's Indian arm asserts it's an Indian enterprise led by local professionals. The company plans to pursue all administrative and legal remedies to reverse the decision. Airports and airlines previously partnered with Çelebi are now turning to other major ground handling players in India's aviation sector. (PC: Facebook & The Indian Express)

Despite U.S. President Donald Trump's call for Apple to halt iPhone production in India and shift manufacturing to the U.S., Apple's plans in India remain unchanged, according to sources. Trump's request aligns with his "Make in USA" initiative, aiming to boost domestic industry. However, Apple continues to expand its operations in India, viewing it as a strategic move to diversify its supply chain amid U.S.-China trade tensions. The company has intensified production in India in recent years and aims to produce all iPhones sold in the U.S. in India by the end of 2026. Relocating iPhone production to the U.S. appears unlikely due to limited availability of necessary labor, suppliers, and manufacturing infrastructure. (PC: Logo Histories)

Adani Airport Holdings has terminated its ground handling concession agreements with Turkish firm Çelebi at Mumbai’s Chhatrapati Shivaji Maharaj International Airport and Ahmedabad’s Sardar Vallabhbhai Patel International Airport. This decision follows the Indian government's revocation of Çelebi's security clearance. Adani has directed Çelebi to immediately hand over all ground handling facilities to ensure uninterrupted operations. The company assures seamless service continuity through new ground handling agencies and states that all existing Çelebi employees at these airports will be transferred to the new agencies under their current employment terms. Adani emphasizes its commitment to maintaining high service standards and prioritizing national interest. (PC: The Telegraph)

U.S. President Donald Trump revealed that India has proposed a trade deal to eliminate tariffs on 60% of American goods, aiming to lower India’s average tariff from nearly 13% to under 4%. Speaking at a business event, Trump highlighted that India is willing to charge “basically no tariff” on many U.S. products. This offer is part of ongoing negotiations to address trade imbalances and avoid U.S. reciprocal tariffs affecting various sectors. The Indian government has not yet officially commented on the proposal, but it signals a potential boost in India-U.S. economic relations. (PC: File Photo)  

Shares of China's Avic Chengdu Aircraft, makers of the J-10 jets used by Pakistan, plunged 9.31% on May 13 following Prime Minister Modi’s bold speech on the success of Operation Sindoor. The strike, targeting terror camps inside Pakistan, was lauded domestically, sparking a rally in Indian defence stocks. Modi declared that any future terror threats would meet annihilation. Meanwhile, Dassault Aviation, the Rafale jet manufacturer, saw a rebound in its stock after earlier declines. Operation Sindoor marks a strategic shift in India’s counter-terror posture, with precision strikes gaining market and geopolitical traction. (PC: AFP)

U.S. President Donald Trump's recent executive order aims to slash American prescription drug prices by 30–80% through a "most favored nation" pricing strategy, aligning U.S. costs with those in other developed nations. While this move seeks to alleviate domestic healthcare expenses, it has raised significant concerns in India. The Global Trade Research Initiative warns that pharmaceutical companies might offset U.S. revenue losses by increasing drug prices in lower-cost markets like India, potentially impacting drug affordability and access. Indian pharmaceutical stocks have already felt the tremors, with notable declines observed in companies heavily reliant on U.S. exports, such as Sun Pharma and Biocon. As the U.S. constitutes a substantial portion of India's pharmaceutical export market, the ripple effects of this policy could be profound, underscoring the interconnectedness of global drug pricing and the delicate balance between affordability and profitability. (PC: Aeon & The Indian Express)