India cuts consumption taxes to boost demand after Trump’s tariff blow | Business and Economy News

India has announced significant cuts in the Goods and Services Tax (GST) on various consumer items to stimulate demand after the imposition of 50 percent tariffs by the U.S. The new two-slab GST structure will reduce taxes on many goods, including cars and personal care items, while also introducing a 40 percent tax on luxury goods, aiming to boost economic growth amidst concerns of a slowdown.

Want More Context? 🔎