#Firstpost Trump Tariffs: Can GST Reforms Shield India? | Vantage with Palki Sharma | N18G
India is preparing for a major economic shock as Donald Trump’s 50% tariffs on Indian exports take effect. Exports worth $48 billion will be hit, with industries like textiles, garments, and furniture facing the steepest losses. To counter the blow, the government is banking on GST reforms to boost domestic demand. The proposed changes include cutting four tax slabs to just two — 5% and 18% — while moving most goods into lower brackets. Essential items and even small cars could get cheaper. According to the State Bank of India, the reforms could add ₹1.98 trillion ($22 billion) to the economy, boosting GDP by 0.6%. The strategy is clear: offset export losses by strengthening India’s domestic market. Will the plan work?
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Vantage is a ground-breaking news, opinions, and current affairs show from Firstpost. Catering to a global audience, Vantage covers the biggest news stories from a 360-degree perspective, giving viewers a chance to assess the impact of world events through a uniquely Indian lens.
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