The govt earlier enacted Taxation Laws (Amendment) Act which removed its power to slap capital gains levies wherever ownership had changed hands overseas but their assets were in India.
When a predatory state used to treating citizens as captives behaves in the same manner with external players, it gets a push-back that it does not usually experience domestically.
India’s industrial output growth saw a 10-month low in June, with Index of Industrial Production (IIP) growing by mere 1.5% as against 1.9% in May 2025.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
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