{"id":18371,"date":"2025-08-23T13:04:09","date_gmt":"2025-08-23T13:04:09","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/18371\/"},"modified":"2025-08-23T13:04:09","modified_gmt":"2025-08-23T13:04:09","slug":"india-slashes-taxes-to-blunt-us-tariff-shock-with-modis-double-diwali","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/18371\/","title":{"rendered":"India slashes taxes to blunt US tariff shock with Modi\u2019s \u2018double Diwali\u2019"},"content":{"rendered":"

Faced with punishing US tariffs, Indian Prime Minister Narendra Modi<\/a> has sought to turn crisis into opportunity, unveiling a historic tax overhaul that he says will deliver a \u201cdouble Diwali\u201d for households and businesses alike.In a wide-ranging Independence Day address on August 15, Modi unveiled the most significant revamp of India<\/a>\u2019s Goods and Services Tax (GST) in a decade \u2013 pitched as both an economic stimulus and a political statement of resilience.It comes after US President Donald Trump<\/a>\u2019s administration imposed tariffs of up to 50 per cen<\/a>t on Indian exports earlier this month, a move widely seen as a reversal of Washington\u2019s courtship of New Delhi. From garment exporters to furniture sellers, Indian firms had been scrambling to absorb the shock.<\/p>\n

Then Modi, in one of his longest national addresses to date, unveiled a sweeping cut to consumption taxes to rally consumers. \u201cThis Diwali, I am going to make it a double Diwali for you,\u201d he declared to millions of television viewers, referring to the major Hindu festival which will be celebrated in October this year.<\/p>\n

This Diwali, I am going to make it a double Diwali for you<\/p><\/blockquote>\n

Indian Prime Minister Narendra Modi<\/p>\n

\u201cWe are bringing next-generation GST reforms. This will reduce the tax burden across the country.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Faced with punishing US tariffs, Indian Prime Minister Narendra Modi has sought to turn crisis into opportunity, unveiling…\n","protected":false},"author":2,"featured_media":18372,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[174],"tags":[16239,16240,16241,16245,16244,79,16237,16238,356,16235,179,18,16242,9207,16234,19,387,16243,17,16236,3050,12604,1255,11388,1997,187],"class_list":{"0":"post-18371","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-amitraj-kaushal","9":"tag-anand-rathi-group","10":"tag-antonio-fatas","11":"tag-bank-j-safra-sarasin","12":"tag-bipin-sapra","13":"tag-business","14":"tag-commtrendz-research","15":"tag-deloitte-india","16":"tag-donald-trump","17":"tag-double-diwali","18":"tag-economy","19":"tag-eire","20":"tag-ey","21":"tag-gdp","22":"tag-gst","23":"tag-ie","24":"tag-india","25":"tag-international-monetary-fund","26":"tag-ireland","27":"tag-mali-chivakul","28":"tag-modi","29":"tag-narendra-modi","30":"tag-tariffs","31":"tag-taxes","32":"tag-trade","33":"tag-trump"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/18371","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=18371"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/18371\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/18372"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=18371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=18371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=18371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}