The Union Cabinet, led by Narendra Modi, has reportedly approved an ordinance to amend the Income Tax Act and eliminate capital gains tax on investments made by foreign portfolio investors in Indian government securities, pending Presidential approval. The move aims to attract foreign capital, strengthen forex inflows and cushion the economy from uncertainties linked to the Iran conflict. Currently, foreign investors pay 12.5% long-term capital gains tax on eligible assets and a 20% withholding tax on government bond interest. The decision follows significant foreign outflows from Indian markets and comes amid indications that additional measures may be introduced to boost investment and market confidence. (PC: NDTV)

At least 21 people, including 12 foreign nationals and 9 Indians, were killed in a devastating fire at the six-storey Flourish Stay B&B in Delhi’s Hauz Rani area. More than 40 people were rescued as thick smoke engulfed the building, prompting several occupants to jump from upper floors. Preliminary findings suggest the fire originated in a ground-floor restaurant. The guest house allegedly had only one exit, raising serious fire safety concerns. Hotel owner Lavkesh Bajaj has been arrested. The tragedy is Delhi’s deadliest fire since the 2022 Mundka blaze. Authorities have ordered citywide fire safety inspections and announced a review of all establishments operating under Delhi's B&B policy.

A 33-year-old Indian-origin man, Tarsem Singh, faces multiple felony charges and possible deportation after a fatal crash in Ohio that killed his 17-year-old pregnant girlfriend, Ashlee Holmes, and her unborn child. Authorities allege Singh attempted to flee law enforcement on February 16, leading deputies on a high-speed chase that reached over 120 mph before his Range Rover Velar lost control and collided with a Jeep. Holmes was ejected from the vehicle and died from her injuries. US Immigration and Customs Enforcement has lodged a detainer against Singh. Investigators say he entered the United States illegally in 2017 and was later released on bond. (PC: X)

An Indian national was killed and at least 63 people were injured after an Iranian missile and drone attack struck Kuwait International Airport amid escalating Gulf tensions. The Indian Embassy confirmed the death, while Kuwait temporarily suspended flights following damage to airport facilities. India condemned the attack, reiterating that civilians and civilian infrastructure must not be targeted during conflicts. The strike comes amid renewed hostilities involving Iran, the United States, Bahrain and regional actors despite a fragile ceasefire agreed in April. Oil prices rose as uncertainty persisted around the strategically vital Strait of Hormuz. Diplomatic efforts continue, but ongoing military actions threaten regional stability, global energy supplies and international shipping routes.

US Ambassador to India Sergio Gor said the United States and India are poised to drive the next phase of economic growth together as both sides move closer to finalising a bilateral trade agreement. Speaking at the CITI India 2026 Conference, Gor said President Donald Trump deeply values ties with India and his friendship with Prime Minister Narendra Modi. He noted that bilateral trade has surged from about $20 billion to nearly $220 billion over two decades, driven by innovation and high-value sectors. Gor revealed that 99 percent of the proposed trade deal is complete, with only minor issues pending. He also highlighted supply-chain resilience, energy security cooperation, and investor confidence.

An Indian national was killed in an Iranian drone attack targeting Kuwait International Airport on Wednesday, according to the Embassy of India in Kuwait. The strike hit Terminal One, causing casualties, injuries and damage to airport infrastructure, prompting Kuwaiti authorities to suspend air traffic and divert flights. Health officials reported 63 injured people, including civilians, airport workers and travellers, with several requiring urgent surgery. Iran’s Islamic Revolutionary Guard Corps claimed responsibility, describing the attack as retaliation for alleged US actions against Iranian assets. The Indian mission expressed condolences and said it is coordinating with Kuwaiti authorities to support the victim’s family and those affected.

India on Wednesday condemned Iran's attack on Kuwait International Airport that killed an Indian worker and injured dozens of people. The Ministry of External Affairs said, “Civilian population and civilian infrastructure must not be targeted,” and called for an end to such attacks. The Indian Embassy in Kuwait expressed “deepest condolences” to the victim's family and is providing assistance. Kuwait said one person was killed and 63 others were injured in the strike. Air traffic was temporarily suspended following the attack. With this incident, the number of Indians killed since the start of the West Asia conflict has risen to 10. (PC: X/ @steve_hanke)

India has received the fourth S-400 air defence squadron from Russia, boosting the country's defence capabilities. The delivery is part of a 2018 agreement for five S-400 squadrons. Three squadrons are already operational, while the fourth is expected to be deployed soon. The S-400 system can detect and destroy fighter jets, drones, cruise missiles and ballistic missiles at long distances. Deliveries were delayed due to the Russia-Ukraine conflict. Only one squadron remains to be delivered. India is also planning to buy five more S-400 squadrons and is developing its own long-range air defence system under Project Kusha.

An Indian national was killed and 63 others were injured after an Iranian missile and drone attack struck Kuwait International Airport on Wednesday. The attack hit Terminal One, causing casualties and damage to airport facilities, prompting authorities to suspend air traffic operations.   According to Kuwait's Health Ministry, the injured suffered serious wounds, including head injuries, cerebral haemorrhages, amputations and blast-related trauma. Twenty-five ambulances were deployed to the airport.   The Indian Embassy in Kuwait expressed condolences to the victim's family and said it is coordinating with Kuwaiti authorities to provide support and assistance.   Iran's Revolutionary Guards claimed responsibility for the attack, saying it was retaliation for recent US actions against Iranian targets. Gulf nations, including the UAE and Kuwait, strongly condemned the strike, calling for a united regional response against attacks on civilian infrastructure. (PC: NDTV)

Nepal Prime Minister Balendra “Balen” Shah faces mounting pressure after remarks in Parliament suggesting Nepal may also have crossed into Indian territory along parts of the border. The comments triggered protests by students opposition parties and lawmakers who accused him of weakening Nepal’s position on disputed areas including Kalapani Lipulekh and Limpiyadhura Demonstrators demanded his resignation while parliamentary proceedings were disrupted India responded by reiterating that border issues are strictly bilateral and rejecting any third-party role Nepal’s Foreign Ministry later clarified Shah was referring to localised encroachments and no-man’s-land issues not territorial concessions The controversy has intensified political turbulence around the newly elected leader amid growing scrutiny over Nepal-India border relations. (PC: India Today)