India, the world’s fastest growing major economy, is preparing to bear the brunt of US President Donald Trump’s trade war and 50% tariffs. In this backdrop, the Goods and Services Tax (GST) rate cuts couldn’t have come at a more opportune time.While FM Nirmala Sitharaman has clarified that the GST rate cuts had been in … Read more
Prime Minister Narendra Modi on Wednesday hailed the next-generation GST reforms, which he said would improve the lives of citizens and ensure ease of doing business for all, especially small traders and businesses.”During my Independence Day Speech, I had spoken about our intention to bring the Next-Generation reforms in GST. The Union Government had prepared … Read more
The GST Council on Wednesday decided to exempt life and health insurance premiums for individuals from Goods and Services Tax (GST). Until now, policyholders were paying an 18% GST on premiums, a levy that had long been a point of contention for the insurance industry. The exemption comes into effect on 22 September. The move … Read more
US President Donald Trump’s decision to double tariffs on Indian goods to 50% could deal a major blow to New Delhi’s manufacturing ambitions, ratings agency Moody’s warned on Friday.Moody’s cautioned that the steep tariff gap compared with other Asia-Pacific nations could reverse some of India’s recent gains in attracting global investment, hurting both growth and … Read more
The 25% tariffs on Indian imports announced by Donald Trump, the US President, are likely to have a negligible impact on India’s GDP, with PHDCCI suggesting diversification in bilateral trade agreements as a strategy for the country to navigate geopolitical uncertainty and growing protectionism. The tariffs are “estimated to impact 1.87% of India’s total global … Read more
A growing wave of protectionism is challenging decades of liberal trade order, dramatically highlighted by the Trump’s tariffs, but economic nationalism does not spell the death of globalisation rather it heralds its rebirth, presenting an opportunity for India to emerge as a vital player, according to M&M Ltd Chairman Anand Mahindra. In his address to … Read more
The decision of the Reserve Bank of India (RBI) to slash the policy rate will boost growth amidst easing price pressures and infuse liquidity along with supporting credit flow, said a report by Bank of Baroda. The BoB report added that the RBI’s surprise 50 basis-point rate cut, along with a phased 100 basis-point reduction … Read more
India’s services sector activity witnessed a sharp uptick in February boosted by improving domestic and international demand, which resulted in a quicker expansion in output and a substantial increase in employment, a monthly survey said on Wednesday (March 5, 2025). The seasonally adjusted HSBC India Services PMI Business Activity Index rose from January’s 26-month low … Read more
India’s new central bank governor cut interest rates for the first time in almost five years to help spur a slowing economy, providing a measured tone that disappointed some investors seeking more proactive steps.All six members of the Reserve Bank of India’s monetary policy committee, chaired by Governor Sanjay Malhotra, voted unanimously to lower the … Read more