India will reduce taxes on hundreds of consumer goods, including air conditioners and small cars, to boost local demand amid steep U.S. tariffs, the government announced Wednesday.
Finance Minister Nirmala Sitharaman said the revised goods and services tax (GST) will take effect on September 22, ahead of the Hindu festival season. The overhaul reduces GST tiers from four to two rates: 5% and 18%, while a few high-end items, such as luxury cars and tobacco, will face 40%, and life and health insurance will remain tax-free.
The move is part of Prime Minister Narendra Modi’s strategy to shield the Indian economy from U.S. tariffs, which threaten $48.2 billion in exports following last month’s additional 25% duty imposed by Washington in response to India’s Russian oil imports.
Modi said the reforms aim to improve citizens’ lives and ease business operations, particularly for small traders and manufacturers.
India–U.S. trade relations have grown in recent years but remain vulnerable to disputes over market access and domestic political pressures.
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The U.S. military has said it carried out defensive strikes in southern Iran after boats were seen laying mines in the Strait of Hormuz. Meanwhile, U.S. Secretary of State Marco Rubio said peace talks could drag out for several more days while the language of a deal is finalised.
The new AnewZ documentary, TARGET: Yerevan, builds its explosive case on exclusive, secret recordings originally published by Minval Politika.
Tehran has sent a senior delegation to Qatar for indirect talks on a possible peace deal with Washington amid rising tensions following a U.S. air strike on an Iranian island in the Strait of Hormuz.
Japan and the United Nations Development Programme are launching a $3 million environmental project in Kazakhstan to support the Caspian Sea and improve water monitoring, amid growing concern over falling sea levels and risks to regional trade routes.
A peace agreement between Washington and Tehran is yet to materialise, with U.S. President Donald Trump saying that negotiations are incomplete and an Iranian Foreign Ministry Spokesman saying that a deal isn't imminent.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for 25th May, covering the latest developments you need to know.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for 26 May, covering the latest developments you need to know.
The World Health Organization warned on Monday that the fast-moving Ebola outbreak in the Democratic Republic of the Congo and Uganda was outpacing response efforts, with 220 suspected deaths reported so far.
Shortly after nine o’clock on Tuesday morning (26 May), a sleek white train eased into Tbilisi’s central railway station, a couple of minutes behind schedule, carrying passengers from Baku for the first time since 2020.
The new AnewZ documentary, TARGET: Yerevan, builds its explosive case on exclusive, secret recordings originally published by Minval Politika.
UK shop price inflation rose to 1.2% in May from 1.0% in April as retailers continued to face mounting cost pressures across supply chains, according to new industry data.
Four people, including two schoolchildren, have died after a train collided with a school minivan at a level crossing in the northern Belgian town of Buggenhout on Tuesday morning, authorities have confirmed.
Seven people have died in France in incidents linked directly or indirectly to an ongoing early-summer heatwave, as large parts of western Europe continue to experience unusually high temperatures.
Thai-based cave divers have joined international efforts to rescue seven villagers trapped in a flooded gold mining cave in remote Laos after days of heavy rain cut off access underground.
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