(Reuters) -India’s proposal to rationalise goods and services tax is a “huge reform”, which is bound to have good outcomes, RC Bhargava, chairman of the country’s top carmaker Maruti Suzuki, told Reuters on Monday. The restructuring will increase competitiveness of Indian products and the opening of trade borders will bring in the necessary competition, which …
By Kashish Tandon and Chandini Monnappa (Reuters) -Indian auto and consumer stocks rallied on Monday, with the auto index jumping nearly 5% to a 10-month high after the government’s plans of sweeping tax cuts, including lower goods and services tax (GST) on small cars. The government’s plan to lower GST on small cars to 18% …
Autos, consumer stocks lead surge in Indian markets on prospects of sweeping tax cuts Read More »
By Nimesh Vora and Khushi Malhotra MUMBAI, August 18 (Reuters) -The Indian rupee will grapple with U.S.–India trade frictions this week, with the cancellation of Washington’s planned talks in New Delhi hurting hopes of tariff relief, while the much-hyped Trump–Putin summit is not expected to have an immediate impact. Indian government bonds will be pressured …
India rupee to wrestle with US–India trade fog; fiscal strain concerns to weigh on bonds Read More »
NEW DELHI (Reuters) -India is confident of meeting its fiscal deficit target of 4.4% for the current fiscal year, according to a government source with knowledge of the matter, despite its plans to cut consumption tax later this year. In the biggest tax overhaul since 2017, Prime Minister Narendra Modi on Saturday announced sweeping changes …
India confident of meeting fiscal deficit target, despite planned tax cuts Read More »
(Reuters) -A planned visit by U.S. trade negotiators to New Delhi from August 25-29 has been called off, a source said, delaying talks on a proposed trade agreement and dashing hopes of relief from additional U.S. tariffs on Indian goods from August 27. The current round of negotiations for the proposed bilateral trade agreement is …
US-India trade talks scheduled for August called off, source says Read More »
By Ashitha Shivaprasad (Reuters) – Gold prices held steady on Friday, but were headed for a weekly loss after hot inflation data trimmed rate-cut bets, while the market focus shifted to talks between U.S. President Donald Trump and his Russian counterpart Vladimir Putin. Spot gold was little changed at $3,336.66 per ounce by 1:40 p.m. …
Gold heads for weekly loss, spotlight on Trump-Putin talks Read More »
By Nikunj Ohri and Shilpa Jamkhandikar NEW DELHI (Reuters) -India’s government will slash the consumption tax it charges consumers and businesses by October, a top official said on Friday, hours after Prime Minister Narendra Modi announced sweeping tax reforms to boost the economy in the face of a trade conflict with Washington. The federal government …
India plans sweeping consumption tax cuts by October to boost economy Read More »
NEW DELHI (Reuters) -Indian Prime Minister Narendra Modi’s government on Friday announced a plan to lower rates and simplify its goods and services taxes (GST) by October, a move to boost domestic demand amid U.S. tariff headwinds. Modi’s announcement comes as India moves to simplify its GST structure, with a group of ministers preparing a …
Factbox-Companies and products covered by India’s consumption tax regime Read More »
(In August 14 item, corrects spelling of analyst’s first name in paragraph 9 to Kirill, not Kiril) By Sherin Elizabeth Varghese (Reuters) -Gold prices fell on Thursday as hotter-than-expected U.S. inflation data and a drop in jobless claims lifted the dollar and Treasury yields, trimming the odds of a supersized September rate cut. Spot gold …
Gold falls as hot US data lifts dollar, yields; cools hopes for jumbo Fed cut (Aug 14) Read More »
By YP Rajesh, Shilpa Jamkhandikar and Nikunj Ohri NEW DELHI (Reuters) -Indian Prime Minister Narendra Modi urged the country on Friday to move towards more self-reliance, manufacture everything from fertilisers to jet engines and EV batteries, and vowed to protect farmers in the face of a trade conflict with Washington. With the punishing tariffs imposed …
