Equities bucked the selloff in Asia as trade tensions that roiled stocks globally eased somewhat following Donald Trump stating that China asked to re-start trade talks.
Efforts to tax the super-rich have not been successful as Indian stocks saw $250 billion being erased since July, the month the Budget announcement was made.
A higher surcharge on wealthy Indians in the Budget has alarmed overseas investors since it also applies to trusts – a choice for several foreign funds that invest in India.
Indian equities posted their best month in three years in March as foreign investors plowed more than $6 billion into the market on the prospect of PM Modi winning a second term.
Disenfranchisement by institutional fiat is profoundly undemocratic. The effect of the ECI's new documentary process in Bihar will tilt the scales in favour of the BJP.
Mini deal will likely see no cut in 10% baseline tariff on Indian exports announced by Trump on 2 April, it is learnt, but additional 26% tariffs are set to be reduced.
India-Russia JV is also racing to deliver 7,000 more AK-203 assault rifles by 15 Aug. These are currently being made with 50% indigenisation and this will surge to 100% by 31 December.
Public, loud, upfront, filled with impropriety and high praise sometimes laced with insults. This is what we call Trumplomacy. But the larger objective is the same: American supremacy.
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