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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EU foreign policy chief Kaja Kallas’s planned visits to Yerevan and Baku framed the 8th European Political Community summit on 4 May, as Euro...
The 59th Annual Meeting of the Asian Development Bank concluded in Samarkand with new renewable energy agreements, discussions on economic resilien...
Russia has restricted some mobile internet services ahead of Victory Day on Saturday (9 May), citing security concerns. The annual celebrations, marking victory over Nazi Germany in the Second World War, have been scaled back amid fears of attacks from Ukraine.
Ted Turner, the CNN founder who pioneered the 24-hour news cycle, has died aged 87, the network reported on Wednesday (6 May), citing a Turner Enterprises press release. He died surrounded by family.
The 59th Annual Meeting of the Asian Development Bank concluded in Samarkand with new renewable energy agreements, discussions on economic resilience and the release of a major policy report on global value chains.
The Secretary-General of the Iranian Red Crescent Society (IRCS), Meysam Afshar, said the organisation has documented alleged violations of international humanitarian law during the U.S.–Israel war on Iran and shared the findings with international bodies.
President Donald Trump cited "great progress" toward a comprehensive agreement with Iran as he announced he would briefly pause the operation to escort ships through the Strait of Hormuz. Meanwhile, U.S. Secretary of State Marco Rubio urges China to pressure Tehran over its actions in the Hormuz.
The United Arab Emirate said it was dealing with missile and drone attacks from Iran for the second day in a row on Tuesday (5 May), despite denials from authorities in Tehran who threatened a "crushing response" if the UAE retaliated.
All remaining passengers aboard a luxury cruise ship hit by a deadly hantavirus outbreak are asymptomatic, Spain’s Health Minister Mónica García said on Wednesday.
The steps of the Metropolitan Museum of Art were transformed once again into the world's most prestigious runway for the 2026 Met Gala. This year’s theme, 'Costume Art,' invited guests to explore the intersection of nature, history, and the surreal under the official dress code 'Fashion Is Art'.
The 61st Venice Biennale has opened under grey skies and political tension, with disputes over Russia and Israel, resignations on the jury, and protests marking the start of one of the art world’s most high-profile events.
Russia has restricted some mobile internet services ahead of Victory Day on Saturday (9 May), citing security concerns. The annual celebrations, marking victory over Nazi Germany in the Second World War, have been scaled back amid fears of attacks from Ukraine.
Ted Turner, the CNN founder who pioneered the 24-hour news cycle, has died aged 87, the network reported on Wednesday (6 May), citing a Turner Enterprises press release. He died surrounded by family.
The Secretary-General of the Iranian Red Crescent Society (IRCS), Meysam Afshar, said the organisation has documented alleged violations of international humanitarian law during the U.S.–Israel war on Iran and shared the findings with international bodies.
Chinese Foreign Minister Wang Yi met his Iranian counterpart Abbas Araghchi in Beijing on Wednesday, their first in-person talks since the U.S.-Israel war on Iran began, focusing on the fragile ceasefire and security in the Strait of Hormuz.
The Australian government will spend billions to boost national fuel stockpiles and create a permanent, state-owned strategic reserve, Prime Minister Anthony Albanese has announced.
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