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INDIA: Country Wrap:  GST Cut Close  - Fin Min. 

INDIA
IndiaEM BulletBulletAPACEmerging Market News
  • India’s Finance Minister has indicated that the Modi Government is very close to reducing the GST rate, following the income tax cuts announced in February (source: BBG)
  • As India and the US huddle to finalize the contours of a wide-ranging bilateral trade agreement, the two sides now appear inclined to ink a preliminary trade agreement first, two people aware of the matter said on the condition of anonymity. The preliminary agreement is being deliberated while keeping sensitive issues like immigration policies and intellectual property (IP) transfers off the table. As for what may likely be in, tariff concessions have been proposed for lentils, almonds and advanced technology products in the pharmaceutical sector, among others.  (source: MINT NEWS India)
  • India’s NIFTY 50 is opening in a positive mood, up +0.33%, following on from last week’s gain of +1.93%.
  • INR:  The rupee is opening weaker, down -.397% in morning trading at 87.23
  • Bonds:  India’s 10YR government bond is opening up marginally weaker having rallied 5bps last week. 
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  • India’s Finance Minister has indicated that the Modi Government is very close to reducing the GST rate, following the income tax cuts announced in February (source: BBG)
  • As India and the US huddle to finalize the contours of a wide-ranging bilateral trade agreement, the two sides now appear inclined to ink a preliminary trade agreement first, two people aware of the matter said on the condition of anonymity. The preliminary agreement is being deliberated while keeping sensitive issues like immigration policies and intellectual property (IP) transfers off the table. As for what may likely be in, tariff concessions have been proposed for lentils, almonds and advanced technology products in the pharmaceutical sector, among others.  (source: MINT NEWS India)
  • India’s NIFTY 50 is opening in a positive mood, up +0.33%, following on from last week’s gain of +1.93%.
  • INR:  The rupee is opening weaker, down -.397% in morning trading at 87.23
  • Bonds:  India’s 10YR government bond is opening up marginally weaker having rallied 5bps last week.