The reforms are a paradigm shift in India’s approach to economic governance. The system is simple enough for a small shopkeeper, yet sophisticated enough to power a $5 trillion economy.
The rate rationalisation this time will impact over 420 goods covering a vast range of sectors. The first two exercises to revamp the GST regime were much smaller in both range and impact.
Thanks to Trump’s sudden decision to target India rather than any other country with massive tariffs, many things that ought to have been done earlier are now falling into place.
Why should the US care? Because in the end, as its wrangle with Britain this week should have reminded them, America still needs bases, friendly ports, & overfly rights.
Multiple companies have invoked the principle of ‘force majeure’, which lets a party off the hook in case of unforeseen ‘acts of God’, to avoid penalties.
IRIS Lavan was in the region for the International Fleet Review held last month and ‘sought urgent docking in Kochi citing technical issues,’ it is learnt.
Trump has ushered in the age of humiliation. His method is to push around America’s friends rudely and publicly. He knows none of them can afford to fight back.
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