India will celebrate its 77th Independence Day on Tuesday with much pomp and fare.
The South Asian nation of 1.4 billion people – home to around 25 per cent of the world’s population – won independence from the British colonisers on August 15, 1947, after almost two centuries.
Celebrations will include parades, poetry recitals and ceremonies to hoist the Tricolour, the Indian national flag.
Prime Minister Narendra Modi will also deliver a speech from the ramparts of the centuries-old Mughal-era Red Fort in the capital Delhi.
This year's celebrations are the first to be held since authorities lifted Covid-19 restrictions.
Why is August 15 India's Independence Day?
Britain ruled India for nearly two centuries but its military and economy were exhausted by the Second World War as anti-colonial movements began to challenge empires.
Within the Indian subcontinent, the UK faced two powerful, seemingly irreconcilable nationalist movements: one calling for the creation of Pakistan, a homeland for the Muslims of South Asia; the other for India, a pluralist nation.
The UK chose to partition the region and withdraw. Under the terms of the Indian Independence Act, the subcontinent was formally divided into two dominions at midnight on August 14, 1947.
The partition of colonial British India into two states, mainly Hindu India and Muslim Pakistan, triggered one of the biggest mass migrations.
About 15 million Muslims, Hindus and Sikhs swapped countries in the political upheaval marred by violence and bloodshed that cost more than one million lives.
At midnight on August 15, 1947, the red sandstone parliamentary building in the heart of India’s capital echoed with the high-pitched voice of Jawaharlal Nehru, the country’s first prime minister.
“At the stroke of the midnight hour, when the world sleeps, India will awake to life and freedom,” Mr Nehru said, words that were heard live over radio by millions of Indians.
Then he promised: “To the nations and peoples of the world, we send greetings and pledge ourselves to co-operate with them in furthering peace, freedom and democracy.”
It marked India’s transition from a British colony to a democracy – the first in South Asia – that has since transformed from a poverty-stricken nation into one of the world’s fastest-growing economies, earning itself a seat at the global high table and becoming a democratic counterweight to its authoritarian neighbour, China.
Is it really the 77th anniversary?
Although India attained independence from the UK in 1947, it only became a fully sovereign republic with its own head of state on January 26, 1950.
Between those dates, the 299 men and women of India’s Constituent Assembly worked to imagine their emerging country and to inscribe their vision and foundational legal principles in a national constitution.
The outcome of their efforts is a remarkable document that remains a source of both inspiration and contention today.
Some confusion also remains about which anniversary India is celebrating.
If August 15, 1947, is considered the day India first celebrated its independence from the UK and viewed this as its first Independence Day, then this year is the 77th Independence Day.
But if viewing the first anniversary of Indian independence on August 15, 1948, as the country's first Independence Day, then India is celebrating its 76th Independence Day.
What does India's national anthem Jana Gana Mana mean?
Rendered in the prescribed metre, it takes exactly 52 seconds to sing the Indian anthem, Jana Gana Mana.
The lyrics derive from the first stanza of the famous poet, playwright and social reformer Rabindranath Tagore's five-stanza poem Bharot Bhagyo Bidhata, or “Dispenser of India's destiny” in the Bengali language.
Tagore set the poem to music himself.
The anthem opens with an exaltation of the Almighty, who guides the country’s destiny:
Jana-gana-mana-adhinayaka jaya he
Bharata-bhagya-vidhata
Or, in English:
You, the ruler of our minds, our nation
To you our humble salutations!
The poem then begins a virtual tour of pre-independence India, beginning in the north and circling west, mentioning the regions of Punjab, Sindh, Gujarat, Maharashtra, the southern states speaking Dravidian languages, and Odisha and Bengal:
Punjaba-Sindh-Gujarat-Maratha
Dravida-Utkala-Banga
Tagore refers to features of physical geography as well: the Vindhya and Himalaya mountain ranges and the Yamuna and Ganges rivers.
The Almighty’s name, the anthem says, swells and animates this land. In the final part, Tagore provides a refrain:
Taba Subha name jage, taba subha ashisha maange,
gahe taba jaya-gatha.
Jana-gana-mangala-dayaka jaya he Bharata-bhagya-vidhata.
Jaya he, Jaya he, Jaya he, jaya jaya jaya jaya he.
Or, in English:
Your blessings we seek, your praises replicate you
As the Protector of India's fate!
Victory! Victory! Victory!
Victory forever to you!
Company%20profile
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Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
More coverage from the Future Forum
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Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
The specs
Price, base / as tested Dh12 million
Engine 8.0-litre quad-turbo, W16
Gearbox seven-speed dual clutch auto
Power 1479 @ 6,700rpm
Torque 1600Nm @ 2,000rpm 0-100kph: 2.6 seconds 0-200kph: 6.1 seconds
Top speed 420 kph (governed)
Fuel economy, combined 35.2L / 100km (est)
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Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
