FINANCEOUTLOOKINDIA8 AUGUST, 2026Nomura believes that negotiations between the United States and India are progressing steadily and that a trade agreement could be finalised in the near future. According to the brokerage, both countries appear close to aligning on tariff adjustments, which are expected to settle around the 20% range. While discussions have advanced meaningfully, the deal has not yet been formally concluded, but Nomura expects a breakthrough soon.The firm also assessed India's current macroeconomic environment, noting that the economy is benefiting from easing inflation, supportive REPORTINDIA'S SERVICES PMI FALLS TO 4-YEAR LOW IN JULY AT 53.3RBI HOLDS REPO RATE STEADY AT 5.25%, SEES GDP GROWTH AT 6.7%FM SITHARAMAN PRESENTS TAX AMENDMENT BILL 2026: KEY DETAILSAPPLE'S ANNUAL INDIA SALES CROSS $10 BILLION FOR THE FIRST TIMEGOVT PLANS TAX REFORMS TO ATTRACT FOREIGN INVESTMENT IN INDIAAXIS BANK EYES BIGGER BET ON AXIS MAX LIFE AS RBI RULES CHANGEIndia's Services PMI slowed to its lowest level in more than four years in July, as business activity and new order inflows were dampened by softer demand and intense competition. The HSBC India Services PMI, compiled by S&P Global, dropped to 53.3 in July from 57.4 in June, and remains at its lowest level since February 2022 when it was at 51.8. But despite the major slowdown, the reading remained above the 50 mark, indicating expansion, putting the Services PMI in its 60th straight month in expansionary territory.The survey found that the panel members had identified competitive pressures, declining orders, weaker market conditions with order delays as factors affecting growth. New business inflows also expanded at a moderate pace during the month - the slowest since February 2022. The Reserve Bank of India said on Wednesday, August 5, that it has retained the repo rate at 5.25% for the fourth meeting in a row, while keeping its monetary policy stance 'neutral'. The MPC's third-ever bi-monthly policy meeting for FY27 took place on 3 to 5 August and the decision to keep rates unchanged was unanimous.In addition to the repo rate, the RBI also maintained the Standing Deposit Facility (SDF) rate at 5%, and the Marginal Standing Facility (MSF) rate and the bank rate at 5.5% respectively. The Centre has introduced the Tax Amendment Bill, 2026 in the Lok Sabha, proposing a wide range of tax and regulatory reforms aimed at attracting foreign investment, supporting electronics manufacturing, simplifying compliance and strengthening India's overall business environment. If passed by Parliament, the Bill will replace the Income-tax (Amendment) Ordinance, 2026.Finance Minister Nirmala Sitharaman tabled the Taxation and Other Laws (Amendment) Bill, 2026 in the Lok Sabha on Tuesday, August 4. The proposed legislation seeks to amend the Income-tax Act, 2025, the Finance Act, 2026 and the Payment and Settlement Systems Act, 2007. Axis Bank is evaluating whether to increase its stake in Axis Max Life Insurance to as much as 30%, taking advantage of the Reserve Bank of India's revised ownership framework that now allows banks to hold higher equity in insurance companies with regulatory approval.The private sector lender said it is internally assessing the strategic and Apple Inc. has crossed $10 billion in annual India sales for the first time, underscoring surging demand for its premium devices in a market where the company is steadily expanding its retail footprint.Revenue grew at a double-digit percentage rate in the 12 months through March, up from approximately $9 billion a year earlier, according to a person familiar with the matter, who spoke on condition of anonymity as the information is private. iPhones accounted for the significant majority of sales, while demand for iPads and MacBooks also rose during the period, the person said. India is reportedly preparing to seek parliamentary approval for a set of tax reforms aimed to attract foreign investment in India and strengthening domestic manufacturing. The move comes as Prime Minister Narendra Modi refocuses the government's economic agenda following recent student protests.According to a report, the proposed measures include formalising tax cuts for overseas investors buying Indian sovereign debt, along with provisions to protect offshore funds from tax liability when their investments are managed by India-based fund managers. The call was eagerly awaited and so was the verdict ­ most economists and market makers were expecting a "no change" as the world faced greater uncertainty. regulatory implications of increasing its shareholding beyond the current 19.99% before approaching the Reserve Bank of India (RBI) for approval. Speaking during the bank's post-earnings analyst call, Executive Director Subrat Mohanty said the lender would evaluate the proposal internally before seeking the regulator's views.
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