Indian equity benchmarks opened on a positive note on Monday, tracking firm global cues and investor optimism over potential improvement in relations between the US and India under the Trump and Modi administrations.
The rating agency stated that the reductions in the Goods and Services (GST) will have a positive impact on consumption, which accounts for 15 per cent of the revenue of corporates.
Delhi minister Manjinder Singh Sirsa on Saturday lauded Prime Minister Narendra Modi's response to US President Donald Trump's positive comments on the India-US relationship, describing it as a display of statesmanship.
Earlier today, PM Modi responded warmly to US President Donald Trump's affirmation of the India-US ties, saying he "deeply appreciates and fully reciprocates" the US President's sentiments and positive assessment of the bilateral relations.
Union Minister Gajendra Singh Shekhawat on Saturday asserted that Prime Minister Narendra Modi's foremost priority is safeguarding India's interests, stressing that "no compromise will be made on that," while responding to US President Donald Trump's positive remarks on India-US ties.
The two leaders reviewed and positively assessed the developments in bilateral cooperation across various sectors, including economics, defence, science, technology, and space.
Former envoy Jawed Ashraf said Trump's positive remarks on Modi mark a "lowering of temperature" in US-India ties. He called it a welcome step but urged caution, noting tariffs remain and Trump's views can shift. Modi's restrained reciprocation showed India's consistent, measured approach
Former diplomat T.P. Sreenivasan said there are signs of a positive shift in US President Donald Trump's approach towards PM Modi, expressing cautious optimism about India-US ties while noting uncertainty due to Trump's unpredictability and his advisors' tough stance.
Global financial services firm Bernstein also echoed similar sentiments to those of several other experts that the sweeping GST rate cuts will boost India's consumption.
West Asia strategist Waiel Awwad on Saturday termed Prime Minister Narendra Modi's response to US President Donald Trump's praise of India-US ties as a "positive statement", while also emphasising the need for cautious optimism in light of past policy decisions.
Prime Minister Narendra Modi on Saturday has responded warmly to US President Donald Trump's affirmation of the India-US ties, saying he "deeply appreciates and fully reciprocates" the US President's sentiments and positive assessment of the bilateral relations.
White House Economic Advisor Kevin Hassett has said that US President Donald Trump and the trade team are "disappointed" with India's continued imports of Russian crude oil, but hoped for positive developments.