top of page

By:

Devendra Fadnavis

9 June 2026 at 5:42:34 pm

Trust, Development and India’s Rise

The story of India’s rise in the last decade has been marked by economic reform, infrastructure expansion and renewed national confidence When a public journey completes twelve years, it is often seen as a significant milestone marked by perseverance, dedication and an unwavering commitment to a larger goal. Therefore, as Prime Minister Narendra Modi completes twelve years of leadership, this period must be assessed through the lens of sustained effort, transformative governance and...

Trust, Development and India’s Rise

The story of India’s rise in the last decade has been marked by economic reform, infrastructure expansion and renewed national confidence When a public journey completes twelve years, it is often seen as a significant milestone marked by perseverance, dedication and an unwavering commitment to a larger goal. Therefore, as Prime Minister Narendra Modi completes twelve years of leadership, this period must be assessed through the lens of sustained effort, transformative governance and measurable outcomes. Viewed from this perspective, these years represent a remarkable era of service, commitment and good governance. Every enduring journey has two dimensions. When it is undertaken for the welfare of society, its benefits ultimately reach society itself and positively impact diverse sections of the population. The outcomes of Prime Minister Modi’s efforts are visible in the unprecedented transformation witnessed in the lives of ordinary citizens. From 2014 to 2026, his twelve-year tenure has emerged as a defining phase in India's contemporary history. It has not merely been a period of political leadership, but a unique confluence of trust, development, good governance, cultural resurgence and public welfare. Global Leader Today marks another significant milestone. As an elected Prime Minister, Narendra Modi has completed 4,399 consecutive days in office, surpassing the record set by Jawaharlal Nehru. Some may argue that comparisons between Nehru and Modi are inappropriate. However, when Nehru assumed office, there was a widespread perception that he had no political alternative. By contrast, when Modi became Prime Minister, Indian democracy had matured considerably. Citizens understood both the power and significance of their vote. They were aware of their aspirations and expectations, and recognised that governments exist to serve public welfare. It was under these circumstances that Modi assumed office in 2014. The electorate entrusted him with responsibilities that successive Congress governments had failed to fulfil over five decades. Accepting that challenge, he articulated the vision of “Sabka Saath, Sabka Vikas,” which later evolved into “Sabka Vishwas, Sabka Prayas.” After securing victories in 2014, 2019 and 2024, he today stands at the forefront of India’s emergence as a global leader. The mandate of 2024, following the decisive verdicts of 2014 and 2019, was not merely an electoral victory. It represented a renewed endorsement of development, good governance and stable leadership. Modi became the first leader since 1962 to serve a third consecutive term as Prime Minister. At a time when many democracies across the world are grappling with political instability, India chose continuity, stability and decisive governance. Over the past decade, the country has strengthened its position through economic reforms, social transformation, infrastructure development, national security and an assertive foreign policy. The more than twenty-four highest civilian honours conferred upon him by nations around the world reflect this growing global recognition. This has not been the journey of a single leader alone; it has been a collective national endeavour. As a result, India’s economy has expanded from approximately $2 trillion to $4.18 trillion, making it the world’s fourth-largest economy. Economic prosperity is indispensable for achieving social justice. Modi not only recognised this reality but also worked consistently to realise it. Initiatives such as Make in India and Atmanirbhar Bharat instilled confidence among Indians and enhanced global trust in Indian products. Today, demand for indigenous defence equipment has risen so sharply that projected production for the next decade may struggle to meet requirements. This reflects the true strength of a self-reliant India. Historic Achievements One of the government’s historic achievements has been the substantial reduction of Left-Wing Extremism across twelve affected states. Regions that remained untouched by development for decades are now witnessing tangible progress. Nearly 20 crore people had long lived under the shadow of fear and deprivation. Naxalism stalled development and adversely affected thousands of young lives. Today, the situation is changing. Industrial projects, including steel plants, are being established in areas such as Gadchiroli. Universities, medical colleges and major educational institutions are being set up. The voice of development is gradually replacing the sound of conflict. Over the last twelve years, India has witnessed unprecedented growth in infrastructure development. The national highway network has expanded from approximately 91,000 kilometres to nearly 1.46 lakh kilometres. Highways are being constructed at an average pace of 34 kilometres per day. Under the Pradhan Mantri Gram Sadak Yojana, millions of kilometres of rural roads have transformed the lives of farmers, students and rural communities. Railway electrification has accelerated significantly, while initiatives such as Vande Bharat Express and the Amrit Bharat Station Scheme have redefined the image of Indian Railways. The country’s metro network has grown from 248 kilometres to more than 1,095 kilometres. The Modi government has placed the farmer at the centre of the development agenda. Through the Pradhan Mantri Kisan Samman Nidhi, direct financial assistance has been extended to more than 11 crore farmers. Significantly, the first file cleared during the government’s third term pertained to farmer welfare, underscoring this priority. Under the Pradhan Mantri Krishi Sinchai Yojana, the “Per Drop More Crop” initiative has brought millions of hectares under micro-irrigation. Agricultural output has reached record levels, and India has emerged as the world’s largest producer of milk. Through the Pradhan Mantri Garib Kalyan Anna Yojana, free food grains have been provided to 81 crore citizens. More than four crore families have received permanent homes under the Pradhan Mantri Awas Yojana. The Ujjwala scheme has enabled over eleven crore women to access LPG connections. Under Ayushman Bharat, millions of citizens have benefited from free health insurance coverage. The Jal Jeevan Mission has ensured access to clean drinking water for more than sixteen crore households. Women’s empowerment has occupied a central place in government policy. Women account for a significant share of Jan Dhan account holders. The Lakhpati Didi initiative has helped millions of women achieve greater economic independence. Programmes such as Sukanya Samriddhi Yojana, maternity benefits, the strengthening of self-help groups and the growing participation of women in the armed forces have advanced the vision of women-led development. Digital Transformation India has also scripted a new chapter in digital transformation. Through the JAM trinity—Jan Dhan, Aadhaar and Mobile—lakhs of crores of rupees have been transferred directly to beneficiaries. India has emerged as a global leader in UPI transactions. BharatNet has connected lakhs of gram panchayats through optical fibre networks. Digital governance, faceless taxation and the Government e-Marketplace (GeM) have enhanced transparency and efficiency in public administration. India today engages with the world on the basis of equality and mutual respect. The nation seeks trade, investment and technology, but without compromising its dignity or self-respect. During the Russia–Ukraine conflict, India demonstrated its ability to pursue an independent foreign policy, placing national interests above external pressures. Today, India is the world’s fourth-largest economy. Initiatives such as Make in India, Startup India and the Production-Linked Incentive (PLI) scheme have accelerated manufacturing growth. India has become the world’s second-largest mobile phone manufacturer. Electronics production has increased manifold. Significant investments have been attracted for semiconductor manufacturing, and the country is rapidly positioning itself as a global manufacturing hub. Encouraged by policy support, India’s startup ecosystem has grown to more than two lakh startups and hundreds of unicorns. During these twelve years, India has also reaffirmed its cultural identity with renewed confidence. The construction of the Ram Temple in Ayodhya, the Kashi Vishwanath Corridor, Mahakal Lok and the redevelopment of Kedarnath have infused new energy into the nation’s spiritual consciousness. Modi, who began his public life by paying homage to Chhatrapati Shivaji Maharaj, has also advanced initiatives such as the Panchteerth dedicated to Dr B.R. Ambedkar, the observance of Birsa Munda Jayanti as Janjatiya Gaurav Divas, the Statue of Unity honouring Sardar Vallabhbhai Patel, commemorative initiatives for Netaji Subhas Chandra Bose, Kartavya Path and the new Parliament building—each symbolising national pride and identity. Maharashtra has been among the principal beneficiaries of this development trajectory. Prime Minister Modi has extended support to the state in addressing its major developmental needs and challenges. From facilitating land for the Indu Mill Memorial to supporting projects such as the Amravati Textile Park, Vadhvan Port, Navi Mumbai International Airport, Samruddhi Mahamarg, Atal Setu, the Coastal Road and metro rail networks, his backing has been instrumental in advancing key infrastructure initiatives. Today, the world no longer views India merely as a large market. It increasingly recognises India as a reliable, responsible nation capable of contributing solutions to global challenges. India stands confidently on the world stage. These twelve years have laid a strong foundation for the vision of Viksit Bharat 2047. The journey of trust, development and people’s participation is poised to gather even greater momentum in the years ahead—a belief shared by millions of Indians. (The writer is the Chief Minister of Maharashtra.)

How NRIs Can Avoid Double Taxation on Global Income

Avoiding double taxation is as much about strategic financial planning as it is about legal compliance.

In a globalised world, many Indians live, work, or retire abroad. These Non-Resident Indians (NRIs) often earn income from multiple countries, including India, creating the risk of double taxation—where the same income is taxed both in India and the country of residence. This article explains, from a chartered accountant’s perspective, how NRIs can avoid double taxation while ensuring compliance and effective financial planning.


Double taxation occurs when two jurisdictions tax the same income. For NRIs, this typically happens when foreign income—such as salary or investments—is also taxable in India due to Indian-sourced income. Without proper planning, the same income may be taxed twice—abroad and in India.


NRI Taxation Framework in India

Under the Income Tax Act, 1961, tax liability depends on residential status. NRIs are generally taxed only on income received or accrued in India, while foreign-sourced income remains exempt. Complications arise when the country of residence also taxes global income, creating the risk of double taxation. To address this, Indian tax law provides specific relief mechanisms.


Double Taxation Avoidance Agreements (DTAA)

The primary mechanism for NRIs to avoid double taxation is the Double Taxation Avoidance Agreement (DTAA)—bilateral treaties between India and other countries. India has DTAA arrangements with over 90 nations, including key destinations such as the USA, UK, Canada, UAE, Singapore, Australia, and Germany.


DTAA serves three core purposes: it allocates taxing rights to prevent double taxation, reduces withholding tax on incomes such as interest, dividends, royalties, and technical service fees, and provides tax certainty to support cross-border investment and labour mobility.


How DTAA Works: Relief Mechanisms

A CA would typically explain that DTAA relief is provided through three key methods:

1. Exemption Method – Income is taxed in one country (usually the source country) and fully exempt in the other. For example, salary earned abroad may be exempt from Indian tax under certain treaties.


2. Tax Credit Method – When income is taxable in both countries, tax paid in one can be credited against the liability in the other, avoiding double payment. For instance, an NRI can claim foreign tax paid as a credit while computing Indian tax on the same income.


3. Deduction Method – Here, foreign tax paid is deducted from total taxable income before tax is calculated. This method is less common and applies in limited cases.


A practical CA strategy is to assess which relief method offers the highest tax benefit by comparing domestic tax rates with DTAA provisions.


Types of Income Covered Under DTAA

DTAA typically covers a wide range of incomes that NRIs usually earn:

  • Salary and wages earned abroad or in India.

  • Interest and dividends from foreign investments or Indian bank accounts.

  • Capital gains from the sale of assets in India or abroad.

  • Rental income from property located in India.

  • Royalty and technical service fees.


For example, under many DTAA treaties, the withholding tax on interest income earned by an NRI in India may be capped between 7.5 per cent and 15 per cent, which can be significantly lower than domestic tax rates.


Steps to Avoid Double Taxation

As a chartered accountant advising clients, the following steps are essential:

1. Determine Residential Status – Accurate assessment of residential status under Indian tax law is crucial because it influences the scope of taxable income in India.


2. Obtain a Tax Residency Certificate (TRC) – To claim DTAA benefits, an NRI must secure a Tax Residency Certificate from the foreign tax authority confirming their tax residence status for the relevant financial year. This certificate is a key document for claiming relief in India.


3. Submit Form 10F and Other Documents – In addition to TRC, NRIs often need to furnish Form 10F and other declarations to the Indian payer or tax authorities to claim treaty benefits and reduced TDS/TCS rates.


4. Accurate Income Reporting and ITR Filing – NRIs should report all global income and taxes paid abroad while filing Indian Income Tax Returns, even if some income is exempt under DTAA. This ensures compliance and facilitates claiming tax credits where applicable.


Beyond DTAA: Other Relief Measures

If India does not have a DTAA with a country, NRIs may still obtain unilateral relief under Section 91 of the Income Tax Act, where taxes paid abroad are credited against Indian tax payable, subject to certain conditions.


Avoiding double taxation on global income is not just about lowering tax liability; it is a key element of strategic financial planning and compliance with international tax norms. DTAA provisions, supported by accurate documentation and professional tax advice, help NRIs optimise tax outcomes with clarity and confidence.


For NRIs and their advisors, a clear understanding of DTAA mechanisms and treaty application remains central to effective global tax planning in an interconnected world.


(The writer is a Chartered Accountant based in Thane. Views personal.)

Comments

bottom of page