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.
Aluminum prices, already rising before the conflict, have gained further as traders and buyers focus on the potential for tighter markets and shrinking global inventories.
It’s easy to understand why the government can’t speak the hard truth. When this war ends, as all wars do, India’s interests will lie with both the winner and the loser.
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