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India to cut GST on hundreds of consumer goods ranging from ACs to small cars to boost local demand following steep US tariffs

NEW DELHI, September 4, 2025 (AP) — India will cut GST (Goods and Services Tax) on hundreds of consumer goods ranging from air conditioners to small cars to bolster local consumption, its government said Wednesday, as New Delhi moves to cushion its economy from the blow of steep U.S. import tariffs. The announcement comes after U.S. President Donald Trump introduced new tariffs last month that threaten a chunk of New Delhi’s outbound shipments to its world’s biggest market. Finance Minister Nirmala Sitharaman told a news conference late Wednesday that the reduced goods and services tax have been approved by an

German foreign minister seeks India’s help to bring ally Russia into Ukraine peace talks

NEW DELHI, September 3, 2025 (AP) — German Foreign Minister Johann Wadephul urged India to press its close ally Russia to return to peace talks over the war in Ukraine, days after Indian Prime Minister Narendra Modi met Russian President Vladimir Putin at a regional summit in China. Wadephul told a news conference Wednesday that despite enormous efforts by Europe and the United States, Russia hasn’t been willing to enter negotiations, a challenge New Delhi could possibly address. “The only demand is that weapons fall silent,” the German minister said during his two-day visit to India, adding that Ukrainian President

Gold prices storm past Rs 1.07 lakh per 10 g in Delhi

New Delhi, Sep 3 (PTI) Gold prices rallied Rs 1,000 to touch a fresh record high of Rs 1,07,070 per 10 grams in the local markets on Wednesday amid hopes of Fed easing rates, mounting geopolitical tensions and growing worries around the US economy. According to the All India Sarafa Association, the precious metal of 99.9 per cent purity had closed at Rs 1,06,070 per 10 grams on Tuesday. In the Delhi market, gold of 99.5 per cent purity extended the gains for the eighth consecutive session, appreciating Rs 1,000, to hit a fresh record high of Rs 1,06,200 per

Rupee recovers 9 paise from all-time low to close at 88.06 against US dollar

Mumbai, Sep 3 (PTI) The rupee recovered 9 paise from its all-time low level to settle at 88.06 (provisional) against US dollar on Wednesday, on positive domestic equities, softening of crude oil prices and weak US dollar index. Forex traders said the rupee is trading near all-time low levels amid persistent foreign fund outflows on the back of ongoing trade tariff concerns between India and the US. At the interbank foreign exchange market, the rupee opened at 88.15 against the US dollar, then fell to an intraday low of 88.19 and a high of 87.98 against the American currency. The

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