Date: 19 August 2025
In the August 19, 2025 edition of India Business Briefing, it was revealed that S&P Global upgraded India’s sovereign credit rating to BBB for the first time since 2007, citing fiscal discipline and economic resilience. Simultaneously, PM Modi advocated "GST 2.0", a simplified tax structure consolidating slabs to 5% and 18%, while maintaining a 40% rate on luxury goods.
The proposed reform, expected by Diwali, aims to bolster consumption and business confidence amid growing concerns about Trump's proposed tariffs. In a broader shift, India also reaffirmed its diplomatic recalibration—particularly engaging with China to offset U.S. pressures on trade and technology.
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