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.
Ottawa is stepping up its courtship of the region. The campaign was readily apparent in Singapore last week with a conference devoted to stronger ties with Southeast Asia.
On bilateral ties, Admiral Paparo said India-US ties have an exponential effect on deterrence, because it demonstrates a unity of purpose among us to maintain the peace.
This is the game every nation is now learning to play. Some are finding new allies or seeing value among nations where they’d seen marginal interest. The starkest example is India & Europe.
COMMENTS