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India's government announced tax cuts on hundreds of consumer goods, from air conditioners to cars, to boost spending and counter the impact of US tariffs. These new tariffs, totaling 50%, threaten $48.2 billion in Indian exports to the US. The reduced goods and services tax (GST) will have a two-tier structure (5% and 18%), effective September 22nd. Prime Minister Modi aims to protect the Indian economy, and India is also seeking to diversify its exports to other global markets like Europe and Africa.

Prepared by Christopher Adams and reviewed by editorial team.