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She adds that the budget may nonetheless project slightly more optimistic. Key proposals include gst reduction, customs process. India's gem and jewellery sector urges the government for tax reforms, aiming to enhance global competitiveness.
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The us has imposed a 25% tariff on countries trading with iran, but russia remains unaffected due to minimal trade with the us. The tariffs mainly target major iranian trading. The us has imposed tariffs of 50 percent on most indian exports, affecting key sectors such as textiles, apparel, gems & jewellery, auto components, and chemicals.
Considering gst reforms and monetary stimulus, we project india’s gdp growth at around 7% for fy27, pending the impact of the new gdp series, to be released by late february.