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New Indian Express
3 days ago
- Business
- New Indian Express
Why Trump is weaponising remittances
According to a report by Migration Policy Institute (MPI), a Washington DC-based think tank, the Indian diaspora comprises 5.2 million US residents who were either born in India or reported Indian ancestry or origin. Of these individuals, around 55% were born in India, and the remaining 45% were born in the United States or elsewhere. India was the third largest country of origin for immigrants who obtained a green card in 2023, after Mexico and Cuba, says a tabulation by Migration Policy Institute (MPI). Of the nearly 1.2 million people receiving a green card that year, about 78,100 (7%) were from India. The MPI further estimates that around 3,75,000 (or 3%) of the 11.3 million unauthorised immigrants in the US of mid-2022 were from India, making Indians the fifth largest among all unauthorised immigrants in the US. The Indian Diaspora in the US, which is the 10th largest in the country, stands to get most adversely affected by the new remittance tax as India is one of the biggest recipients of inward remittances from the US. About 78% Indian migrants in the US are employed in high earning sectors such as management, business, science, and arts occupations. Over 54 lakh Indians are living in the US and out of this, more than 33 lakh belong to Persons of Indian Origin (PIO) category, according to Statista. India remained the top remittance recipient in 2024. India's total remittance receipts stood at $137.7 billion during 2024 (on a calendar year basis), accounting for 3.5% of India's GDP. The annual inward remittance of $138 billion is 70% higher than India's gross FDI inflow in FY25. Therefore, strong inward remittance is a handy tool for the government of India to manage the Current Account Deficit (CAD), especially amid falling net FDI inflows (Net FDI inflows fell to $0.4 billion in FY25 from $10 billion in the previous year). According to an RBI report, 28% of India's total inward remittances came from the US – making it $38 billion of money sent to India. A back-of-the-envelope calculation suggests the 3.5% levy on remittance could add $1.33 billion of tax burden on NRIs sending money back to India. However, the real impact is yet to be known. A finance ministry official this newspaper spoke to said the government is yet to make an impact analysis of the remittance tax. According to RBI's annual report, the average cost of sending remittances of $200 to India is estimated at 5.3% in the third quarter of 2024, below the global average of 6.6%. But this is going to change after 2025, thanks to the remittance tax. The measure could place added financial pressure on Indian nationals working in the United States, says Amarpal Chadha, Tax Partner and Mobility Leader, EY India. 'Many may be forced to re-evaluate their remittance patterns, including the amount and frequency of remittances for the purpose of maintenance of family or investment in India,' he says.
Egypt Independent
3 days ago
- Politics
- Egypt Independent
ISIS claims first attacks against forces loyal to new government in Syria
CNN — ISIS has claimed two attacks on Syrian security forces – the first since the transitional government under former jihadist Ahmed al-Sharaa took office. The terror group, also known as Islamic State, said it had killed and injured seven members of 'the apostate Syrian regime' with an explosive device that was detonated on a road in southern Syria. It said the attack took place in the remote desert area of Talul al Safa in the southern Syrian province of Suwayda. A military source in the Suwayda region told CNN that a reconnaissance unit from the Free Syrian Army was ambushed Wednesday while tracking ISIS movements in the area. One fighter had been killed and three injured. Units of the Free Syrian Army are supported by the US military in what is called the al Tanf Deconfliction Zone close to the borders with Jordan and Egypt, where the US has a small outpost. The source added that the Talul al Safa area is 'extremely rugged and dangerous area, as ISIS had been exploiting its terrain for a long time.' ISIS lost almost all the territory it controlled in Syria by the end of 2017 but has maintained a foothold in Syria's vast central desert. ISIS claimed another attack in the same area several days ago. CNN has reached out to the government in Damascus for comment. Last week, the Syrian Interior Ministry said security forces operating in an area not far from where the attacks took place had seized 'a number of improvised explosive devices (IEDs), as well as weapons' at locations belonging to a terrorist cell affiliated with ISIS. The Washington DC-based Institute for the Study of War says the group has likely maintained cells in southern Syria despite not carrying out any attacks there for at least two years. The US and other Western governments have urged the new Syrian government to prevent a resurgence of ISIS and other terror groups on Syrian soil. But the government has struggled to extend its authority to Suwayda, where there have been clashes between Druze and Sunni groups.
Yahoo
3 days ago
- General
- Yahoo
ISIS claims first attacks against forces loyal to new government in Syria
ISIS has claimed two attacks on Syrian security forces – the first since the transitional government under former jihadist Ahmed al-Sharaa took office. The terror group, also known as Islamic State, said it had killed and injured seven members of 'the apostate Syrian regime' with an explosive device that was detonated on a road in southern Syria. It said the attack took place in the remote desert area of Talul al Safa in the southern Syrian province of Suwayda. A military source in the Suwayda region told CNN that a reconnaissance unit from the Free Syrian Army was ambushed Wednesday while tracking ISIS movements in the area. One fighter had been killed and three injured. Units of the Free Syrian Army are supported by the US military in what is called the al Tanf Deconfliction Zone close to the borders with Jordan and Egypt, where the US has a small outpost. The source added that the Talul al Safa area is 'extremely rugged and dangerous area, as ISIS had been exploiting its terrain for a long time.' ISIS lost almost all the territory it controlled in Syria by the end of 2017 but has maintained a foothold in Syria's vast central desert. ISIS claimed another attack in the same area several days ago. CNN has reached out to the government in Damascus for comment. Last week, the Syrian Interior Ministry said security forces operating in an area not far from where the attacks took place had seized 'a number of improvised explosive devices (IEDs), as well as weapons' at locations belonging to a terrorist cell affiliated with ISIS. The Washington DC-based Institute for the Study of War says the group has likely maintained cells in southern Syria despite not carrying out any attacks there for at least two years. The US and other Western governments have urged the new Syrian government to prevent a resurgence of ISIS and other terror groups on Syrian soil. But the government has struggled to extend its authority to Suwayda, where there have been clashes between Druze and Sunni groups.
India Gazette
12-05-2025
- Politics
- India Gazette
Foreign Expert says PM Modi's address highlights India's strong response to terror attack
Washington DC [US], May 13 (ANI): In the wake of Prime Minister Narendra Modi's national address on Operation Sindoor, Washington DC-based South Asia analyst Michael Kugelman said that the address underscored India's resolve to respond to terrorist threats with 'decisive and robust' action and not being deterred by nuclear weapons. Kugelman further noted that the most significant part of the address was the clarity with which PM Modi drew a line between terrorist groups and the governments that sponsor them. While speaking with ANI, Kugelman said, 'It clearly emphasised the fact that India was responding to a horrific terrorist attack that in India's view is linked to Pakistan, and also not surprisingly, there are significant levels of expressions of support for the Indian military forces. I think that what really stands out is the focus on the current operation and India's position moving forward when it comes to the issue of terrorism.' He added, 'I was really struck in his comments about India having essentially reset the terms for how it will respond to these types of attacks in the future and in terms of emphasising responding decisively and robustly and not being deterred by nuclear weapons. One of the final points he made is not distinguishing between terrorists and the government that sponsors them...' PM Modi on Monday reiterated India's firm stance on talks with Pakistan, saying any future discussions will be confined to terrorism and Pakistan-occupied Kashmir (PoK). In his address to the nation following Operation Sindoor, PM Modi said, 'Today, I would also like to tell the global community that our stated policy has been: if there are talks with Pakistan, it will be only on terrorism; and if there are talks with Pakistan, it will be only on Pakistan-occupied Kashmir (PoK).' Prime Minister Modi warned that Pakistan's support for terrorism could lead to its downfall. He added that achieving peace is impossible without destroying the terrorist infrastructure. 'The way the Pakistani army and the Pakistan government are encouraging terrorism, it will destroy Pakistan one day. If Pakistan wants to survive, it will have to destroy its terror infrastructure. There is no other way to peace,' he added. India had launched a surgical strike on terror launch pads along LoC in 2016 and aerial strikes on a terror camp in Pakistan in 2019. Twenty-six people were killed in the ghastly terror attack in Pahalgam on April 22. India responded through Operation Sindoor and launched precision strikes on terror infrastructure in Pakistan and Pakistan-Occupied Jammu and Kashmir (PoK), in which over 100 terrorists were killed. The subsequent aggression by Pakistan was appropriately responded to by the Indian Armed Forces, who also pounded Pakistan's air bases. (ANI)
Time of India
12-05-2025
- Politics
- Time of India
South Asia analyst Michael Kugelman decodes why the US jumped to mediate India-Pakistan crisis
On the current situation between India and Pakistan, Washington DC-based South Asia analyst, Michael Kugelman said, "We had seen a consistent position from the US government calling for de-escalation, so there definitely had not been any type of active mediation early on in the crisis but the US position from the started had been calling for de-escalation, even though indeed Vice President Vance and President Trump had had signalled that the US was only going to do some watch. There are two reasons why we saw the US jump in the way it did to push for a ceasefire. The first reason is escalation dynamics. This was a crisis that escalated very quickly. You had significant levels of military action that were used by both second reason is the nuclear issue. My sense is that the US government was very concerned when you had the Indian targeting a particular air base in Rawalpindi, which is known to be near nuclear sites..." Show more Show less
