INDIA ECONOMY
50% US tariffs are harsh and unsustainable, change certain: Anand Shah, ICICI Prudential AMC
ICICI Prudential’s Anand Shah expects tariff resolution through dialogue. He advises tilting portfolios to 50% equity allocation given current valuations, and favours consumer services and manufacturing over IT and FMCG as bottom-up stock selection becomes key to generating alpha. By Sameer Bhardwaj.
India cautions SCO against misuse of export measures
India cautioned against weaponizing export measures at the SCO trade ministers' meeting, emphasizing the need for fair trade practices and a functional WTO. India highlighted diversifying supply chains, addressing trade imbalances, and ensuring climate measures don't discriminate. The nation also proposed SCO workstreams for the digital economy and spotlighted the AVGC sector's potential.
GST reforms could add Rs 20 lakh crore to GDP: Ashwini Vaishnaw
Union Minister Ashwini Vaishnaw announced upcoming GST and income tax reforms. These changes are expected in the 2025-26 budget. The reforms aim to boost India's economy significantly. Vaishnaw clarified that these reforms are unrelated to US tariffs. He highlighted the potential for increased consumption to drive GDP growth.
GST reforms bring big relief to people who suffered huge tax burden under Congress: BJP
Ashwini Vaishnaw says GST rate cuts will benefit common people and boost India's economy. The new GST rates will be effective from September 22, the first day of Navratri. He criticized the Congress for high taxes before 2014. Vaishnaw highlights PM Modi's commitment to the welfare of the middle class.
New GST rates, coming into effect this Navratri, to boost economy: Ashwini Vaishnaw
Union Minister Ashwini Vaishnaw announced that the 2025-26 Budget's income tax relief and GST rate rationalization will significantly boost India's economy. Effective September 22, the GST reforms will simplify taxation, reduce rates on daily-use goods, and stimulate consumption, potentially adding Rs 20 lakh crore to the GDP.
Lower GST will boost India's economy significantly, says FM Nirmala Sitharaman
Finance Minister Nirmala Sitharaman announced a new dual-slab GST structure expected to significantly boost India's economy. The government is also preparing a package for US tariff-affected export sectors and relentlessly working on next-generation policy changes. While not directly addressing tariff issues, the GST reform is anticipated to spur demand and provide some relief to affected sectors.
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GST reforms will mitigate the US tariff impact on the Indian Economy
Yogesh Mandhani, President of AIIFA, stated that GST reforms have lessened the impact of US tariffs on India's economy and advocated for mining policy reforms to lower steel production costs by increasing iron ore availability. He also urged for power tariff rationalization and emphasized that targeting export markets could boost the capacity utilization of secondary steel producers, currently at 68-70%.
India’s forex reserves up by $3.51 billion to $694.2 billion in week ending August 29
India's forex reserves witnessed an increase of $3.51 billion, reaching $694.2 billion in the week ending August 29, according to RBI data. This rise was driven by an increase in foreign currency assets, gold reserves, and SDRs. The RBI intervenes in the forex market to manage rupee volatility, focusing on maintaining orderly market conditions.
Piyush Goyal slams Congress over their high taxes, says new GST rates will fuel India's 'cycle of growth'
Commerce Minister Piyush Goyal criticized the Congress for past high taxes, asserting the BJP's GST reset will spur investments and job creation, fueling India's growth cycle. He highlighted that the new regime's lower taxes would benefit consumers and businesses, making India more attractive to investors. The Centre assured support to states facing potential fund shortages due to the shift.
Tax reforms will enable 10 pc growth rate in future, nobody can stop India: Andhra CM Chandrababu Naidu
Andhra Pradesh Chief Minister N Chandrababu Naidu believes India's tax reforms can boost growth. He anticipates India becoming a top global economy by 2047. Naidu praises the judiciary and highlights mediation's importance. He aims to develop Visakhapatnam as a major ADR center. Technology's role in justice delivery is also emphasized.
Economy flyers may think twice before upgrading
Airlines in India are experiencing a surge in premium cabin demand, but a recent government tax hike on business and premium economy seats threatens this growth. While business class may remain unaffected, premium economy could suffer as price-sensitive economy passengers reconsider upgrades. The tax increase adds to ticket costs, potentially hindering India's competitiveness as an aviation hub.
GST 2.0 to unleash consumption, cushion India's economy from US tariff headwinds: India Inc
Industry leaders believe that GST rate rationalization will boost India's economic growth. They expect increased consumption and a cushion against global headwinds. The GST Council approved rate changes, effective September 22. Business leaders like Ashok Hinduja and Anand Mahindra support the reforms. FICCI and CII anticipate improved compliance and consumer benefits.
Anand Mahindra calls for ‘more reforms to unleash consumption and investment’ after GST rate cuts
On Wednesday, Finance Minister Nirmala Sitharaman unveiled major changes to the GST structure, reducing taxes on a range of items spanning essentials, automobiles, farm inputs and electronic goods. Branded as the “Next-Gen GST Reform,” the decision was pitched as a Diwali gift that would lower household expenses, ease business costs and stimulate wider economic activity.
The MIT xPRO advantage: Future-proofing tech leaders in India’s $300 billion digital economy
Here’s how this program connects to real-world tech leadership needs, and why it’s a great pick for Indian decision-makers who operate in high-growth or transforming environments.
India has a big import substitution opportunity in chemicals sector: SRF
India's burgeoning economy presents a significant $25-30 billion import substitution opportunity in the chemicals sector, according to SRF's chairman, Ashish Bharat Ram. As India's economy expands, local capacity building for chemicals previously imported becomes viable.
GST cut, reforms to help even out tariff impact: CII
Confederation of Indian Industry president Rajiv Memani believes that GST reductions, reforms, and lower interest rates can counterbalance the impact of the 50% US tariffs on India. He highlights the government's positive response and the opportunity for further reforms to enhance competitiveness.
India steady amid levy, GST kitty up 6.5% in August
India's economy showed resilience in August, with strong domestic GST collections and UPI transactions offsetting concerns about higher US tariffs and declining car sales. Manufacturing activity surged, and power consumption rose, indicating robust domestic demand. While overall GST collection saw modest growth, economists remain cautious about external headwinds and tariff-related uncertainties impacting future growth.
With 7% CAGR in income over past decade, demand for premium product increasing in India: Report
A new report suggests India's consumer landscape is changing. Rising incomes are creating more premium consumers. As per capita GDP rises, spending habits are shifting. People are now opting for branded goods and better services. Social media and e-commerce are boosting premium product access. Sectors like automobiles, beauty, and travel are seeing premium growth.
Domestic demand surge lifts India's GDP growth: Experts
India's real GDP surged to a five-quarter high of 7.8% in April-June 2025-26, driven by strong domestic demand and increased government spending. Private consumption, fueled by healthy rural demand and rising wages, boosted both manufacturing and services sectors. Despite global challenges, India's robust growth trajectory positions it as an inspiring icon of resilience and transformative opportunities.
India to become world's third largest economy soon, says RBI Governor Sanjay Malhotra; hails PM Jan Dhan Yojana
RBI Governor Sanjay Malhotra stated that India is poised to become the world's third-largest economy, attributing this growth to the Pradhan Mantri Jan Dhan Yojana. He highlighted the scheme's success in opening 55 crore accounts, fostering financial inclusion and enabling citizens to participate in the nation's economic progress. India's recent GDP growth of 7.8% further supports this positive outlook.
Indian economy to sustain high growth momentum in coming quarters: CEA Nageswaran
CEA V Anantha Nageswaran anticipates continued high growth momentum from India's economy, building on the 7.8% growth in the first fiscal quarter. He acknowledges potential downward pressure from recent US tariffs imposed in August, but expects these to be short-lived due to ongoing negotiations. Anticipation of GST tax relief and a strong monsoon season are expected to offset tariff impacts.
Strong GDP growth in Q1 to boost property demand: Realtors
Real estate bodies CREDAI and NAREDCO anticipate increased property demand. This is due to the strong 7.8 percent GDP growth in the June quarter. The growth is expected to boost consumer and investor confidence. Farm sector and services contributed to the GDP growth. Realtors are also looking forward to GST reforms. India's economy is currently growing faster than China's.
Govt reforms, fiscal prudence played key role in GDP hitting 5-qtr high of 7.8 pc: India Inc
India's economy showcased robust growth at 7.8% in April-June, fueled by government reforms and fiscal prudence. Industry leaders are optimistic about weathering global challenges due to strong domestic demand. The growth reflects strengths in government expenditure, services, and manufacturing, positioning India as the fastest-growing major economy.
India's economy projected to grow 6.5% in FY26, but tariff tensions pose risks: Bank of Baroda
Bank of Baroda projects India's economy to grow around 6.5% in FY26, mirroring RBI's forecast, driven by strong Q1 growth of 7.8%. Manufacturing, agriculture, and services sectors are key contributors, supported by rising consumption and potential rate cuts. However, ongoing tariff negotiations pose a downside risk to the external sector.
Dead economy, anyone? India's GDP growth at five-quarter high of 7.8% in Q1 FY26
India's economy experienced a robust surge, reaching a five-quarter high of 7.8% in April-June, propelled by strong manufacturing and services sectors. However, experts caution that this growth may face challenges due to newly imposed US tariffs on Indian imports of Russian oil.
India's 'dead economy' delivers GDP shock to Trump
India's economy defies US tariffs with a robust 7.8% GDP surge in Q1 FY26, showcasing resilience against global headwinds. This growth, a five-quarter high, undermines Trump's dismissive remarks and highlights the strength of India's domestic demand. The tariff strategy risks alienating a key ally and pushing India towards alternative economic partnerships.
India's economy likely slowed in April-June ahead of US tariff blow
India's economic growth likely decelerated in the April-June quarter due to weak urban demand and slow private investment. U.S. tariff hikes on Indian goods, including textiles and footwear, are expected to further impact exports. While GDP growth is estimated at 6.7%, concerns remain about the long-term effects of tariffs on key sectors and overall economic expansion.
India Inc says economy strong amid challenges
Industry chambers highlight India's economic resilience amid global challenges. They advocate for trade diversification and MSME promotion. Focus is on building global alliances and strengthening Brand India. Exporters are urged to enhance domestic competitiveness. Companies are upgrading value chains through technology. Investment in deep tech is crucial for navigating current economic conditions. These steps will help India thrive.
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