The overhaul will cut the top GST rate from 28 to 18 per cent, making cars, air con units and fridges cheaper in a bid to boost consumption.

U.S. President Donald Trump has announced additional 25% tariff on India for its purchases of Russian oil, bringing the combined tariffs imposed by the United States on its ally to 50%.

For more than two decades, Washington and New Delhi built a strategic partnership that was hailed as one of the great success stories of post–Cold War diplomacy. Today, that relationship is facing its most serious test in years — and India is signaling it has other options.

India expects consumption tax cuts announced by Prime Minister Narendra Modi will give a boost to the economy without hurting the government’s fiscal deficit, helping to offset the fallout from higher US tariffs.