JSA in
News

The much-awaited India–US trade agreement announced by President Donald Trump and Prime Minister Narendra Modi drew strong endorsement from Indian American business leaders and mixed but largely constructive reactions from policy veterans, with supporters calling it a breakthrough and former officials urging caution as details remain unclear. “The commitment to buy from the US along with the tax holidays to data centers, will support the government’s thrust on data capital—hyperscale data centers enabling critical infrastructure and enhanced investment in data centers. The trade deal fully endorses and supports India’s ambition to be a digital infrastructure hub. Reduced tariffs will also see a surge in key sectors such as textile, leather, gems and jewellery, seafood exports, and specialty chemical stocks, attracting more private capital to boost capacity and supply chains, contributing to a resurgent demand in exports. The two announcements together will foster long-term strategic and economic growth and cooperation between the world’s largest democracies,” Vikram Raghani, Partner at JSA, told IBT. Read more

The India-US trade deal is set to enhance collaboration and investment, particularly benefiting IT services and export-oriented sectors. It reduces tariffs on Indian imports and boosts confidence in cross-border technology collaboration, encouraging infrastructure development and investment in AI and data centers. Ashish Suman, Partner, JSA, said increased imports of US goods are likely to provide improved access to advanced machinery and technology, which will surely benefit the construction sector, with such technology being accessible at lesser than earlier cost. “Investments in the refineries, storage & downstream logistics infrastructure will also see a surge as the deal provides an overall message of predictable energy supply and cooperation. With the investor confidence being restored, we can see accelerated investment of US companies in India’s expanding AI and data centre ecosystem,” Suman said. Read more

For many Indian families, fixed deposits (FDs) are the quiet, dependable backbone of household savings which sometimes are opened years ago, rolled over dutifully, and then largely forgotten. The trouble begins when a grandparent passes away and these deposits resurface at an emotionally difficult time. It may so happen there is no Will or the subject matter of fixed deposits is inadvertently or otherwise omitted in the Will. “For instance, in the case of Hindus (covered under the Hindu Succession Act), Class 1 legal heirs inherit simultaneously and equally. Children of pre-deceased sons or daughters of an individual are considered Class 1 legal heirs. This means that such grandchildren have simultaneous and equal rights, as any other sons or daughters or other Class 1 legal heirs of the deceased grandparent,” said Varun Sriram, Partner, JSA Advocates & Solicitors. Read more

The Securities and Exchange Board of India (Sebi) is planning a revamp of its ‘fit and proper’ framework for market intermediaries as some of the rules may be too rigid and risk penalizing individuals and firms before wrongdoing is established. In a consultation paper issued on Wednesday, the markets regulator said experience gained from enforcing the rules over the past five years, as well as global best practices, warrant a review of Schedule II of the Intermediaries Regulations. The move follows representations from market participants, who flagged onerous compliance requirements and the risk of irreparable harm arising from premature disqualifications. Pulkit Sukhramani, partner at JSA Advocates & Solicitors, said, “The revamp of the fit and proper norms is progressive. The revisions will give Sebi the flexibility to take harsh action when warranted and take more lenient action where factors are favouring the intermediary, its key managerial personnel, etc.” “It was important to remove the five-year default ban as it was creating practical challenges. It was taking away flexibility from Sebi and damaging parties against whom such prohibition was not intended,” Sukhramani added. Read more

Global Capability Centres (GCCs) in India are driving the growth of India’s technology industry and is making a meaningful contribution to the services trade surplus of the country, according to The Economic Survey 2025-26. “In recent years, a key structural feature underpinning the IT-ITeS sector’s performance has been the steady expansion of Global Capability Centres (GCCs),” the Economic Survey said in its report. “The Economic Survey confirms what has already been known for a few years. India has emerged as the most favoured destination for multinational companies seeking to establish Global Capability Centres (“GCCs”),” said Vivek K Chandy, Joint Managing Partner, JSA Advocates & Solicitors. Read more

Finance Minister Nirmala Sitharaman tabled the Economic Survey 2026 in Parliament today, on 29 January (Thursday), ahead of the scheduled Union Budget 2026 announcement on 1 February (Sunday). Notably, this will be her ninth consecutive Budget speech and is the first time that the India Union Budget will be presented on a Sunday in at least a decade. Rajul Bohra, Partner, JSA Advocates & Solicitors, said that the semiconductor industry is expecting the upcoming Budget to come out with incentives that focus on chip production, rather than just assembly, as well as strong domestic supply chain. “There should also be incentive schemes for local components, chip design and manufacturing for sustainable growth. It is also pertinent that the incentives which have been committed are released faster as large fab and OSAT projects are under financial pressure,” she said. She further mentioned that parallel reforms under related laws are also required to boost the momentum and for the nation to achieve its aim of becoming top chip manufacturing hub by 2032 and attract major financial investment in this sector. Read more

India and the European Union have concluded a long-awaited landmark trade agreement, Prime Minister Narendra Modi announced on Tuesday, as both sides look to reduce dependence on the unpredictable US relationship. Following nearly two decades of intermittent negotiations, the deal will allow India to gradually open its large and tightly regulated market to free trade with the 27-member EU, its largest trading partner. “It is a significant step towards geopolitical stability and promotion of rules-based trade over protectionism, with implementation slated for early 2027 after cabinet and parliamentary approvals,” said Amar Gupta, Joint Managing Partner, JSA Advocates & Solicitors. Read more

The government may hike the one-time stipend amount provided to interns under the PM Internship Scheme (PMIS), sources say. Currently, the central government provides a direct-benefit-transfer of Rs 6,000 to a new intern, which may be raised by Rs 1,000-2,000. On the 50-year interest free capex-loan scheme for states, the CII has asked the allocation to be increased by 10 percent next year. For the past two years, the Budget outlay has been pegged at Rs 1.5 lakh crore; which means, in FY27, it should be pegged at Rs 1.65 lakh crore. “This will result in generating additional job opportunities, at least in the three sectors – construction, transportation, and logistics,” Sajai Singh, Partner at JSA Advocates & Solicitors. “The MSME sector could do with a little more support to help create jobs. For instance, providing the MSME sector easier access to finance (at lower interest rates), with fewer regulatory burdens,” Singh added. Read more

Legal and business experts emphasise increased capital expenditure, incentives for MSMEs, startups, manufacturing, and rural employment. “As a first step, a possible increase in capital expenditure by 11% to ₹11.11 lakh crore is very welcome. This will result in generating additional job opportunities, particularly in construction, transportation, and logistics. The MSME sector could do with more support to help create jobs—for example, providing easier access to finance at lower interest rates with fewer regulatory burdens. Schemes like the Pradhan Mantri MUDRA Yojana could have higher loan limits or reintroduce the Interest Equalisation Scheme. Similar logic applies to startups, who would benefit from tax breaks and incentives. The National Centres of Excellence for Skilling, National Apprenticeship Promotion Scheme, and Craftsman Training Scheme are also significant initiatives. With appropriate skills and apprenticeships, the fresh workforce becomes more employable across industries. Any development in infrastructure will help create jobs. Government allocations for industrial parks and public-private partnerships will be appreciated. For sectors to raise productivity, tourism, agri-processing, horticulture, and floriculture could consider additional allocations. For rural employment, additional allocations for MGNREGA may be considered,” said Sajai Singh, Partner, JSA Advocates & Solicitors. Read more

The SHANTI Act, 2025, liberalizes India’s nuclear sector, inviting private and foreign investment while capping liability at 300 million SDRs. It targets 100 GW nuclear capacity by 2047 but faces criticism for weakening safety and liability measures. Experts doubt the targets’ feasibility and advocate for alternative energy solutions. Amit Kapur, an infrastructure lawyer and partner at JSA Advocates & Solicitors, Delhi, says undoing supplier liability provisions was politically and commercially necessary. “The government needs to communicate clearly how the revised framework will hold operators accountable and ensure prompt compensation through insurance pools and other mechanisms,” he adds. Read more

Sidharrth Shankar, partner at JSA Advocates & Solicitors, broadened the frame, pointing to risks well beyond India’s borders. “Environmental issues and political instability worldwide,” he said, adding that geopolitics increasingly shapes trade and growth outcomes. “A lot of these factors do play a role—trade and other things. Aspects of these will always have a very large impact on the overall growth pattern.” Read more

“The biggest challenge for businesses has been the lack of finality and uniformity in the rules across states. Expediting the notification of comprehensive and consistent Central and State rules would significantly reduce ambiguity and compliance costs for companies, especially those operating across multiple jurisdictions,” said Preetha Soman, Partner, JSA Advocates & Solicitors. Read more