The Indian government announced sweeping tax cuts on a large set of consumer goods (from air-conditioners to small cars) in response to steep U.S. import tariffs. AP News
The tax structure under the Goods & Services Tax (GST) was simplified (two-tier: 5% & 18%), effective 22 Sept, to spur domestic consumption and ease burdens on small businesses. AP News
Why it matters: This move reflects India’s dual challenge of external trade pressure and internal demand stimulus. It may affect inflation, consumption trends and the fiscal outlook.
Note for posting: Use headline like “India slashes GST rates on hundreds of goods to counter U.S. tariff impact” and include brief explanation of the tariff background and expected consumer benefits.
