Core Viewpoint - India is facing a dual blow in the stock and currency markets, with the Indian Rupee hitting a historic low against the US Dollar, primarily due to external pressures including increased H-1B visa fees and high tariffs on Indian goods [1][4][5]. Currency and Stock Market Summary - On September 23, the Indian Rupee depreciated significantly, dropping to 88.8025 against the US Dollar, marking a nearly 1% decline since the previous Thursday [1][4]. - The SENSEX30 index also experienced a downturn, with a drop of 0.47% and 0.56% on the preceding Friday and Monday, respectively [2][4]. Impact of H-1B Visa Fee Increase - The US government's decision to raise H-1B visa fees to $100,000 annually is expected to negatively impact the profitability of India's IT sector and reduce foreign exchange earnings, further pressuring the Rupee [3][4][5]. - Approximately 71% to 72% of H-1B visas are issued to Indian nationals, making this change particularly impactful for India's tech industry [3][6]. External Economic Pressures - The increase in H-1B visa fees coincides with the US imposing a 50% tariff on Indian goods, which is the highest in Asia, exacerbating the challenges faced by Indian exports [5]. - Foreign investors have withdrawn over $15 billion from the Indian stock market since 2025, indicating a lack of confidence in the Indian economy [5]. Government Response and Domestic Economic Strategy - Indian Prime Minister Modi emphasized the need for self-reliance and reducing dependence on foreign countries, particularly in technology and manufacturing sectors [7]. - The recent implementation of a new Goods and Services Tax (GST) reform aims to simplify tax rates and potentially boost domestic savings and economic activity [8].

印度新一代商品及服务税改革9月22日起正式生效 中新网北京9月22日电 新德里消息：据《印度时报》报道，印度政府实施的新一代商品及服务税(GST) 改革22日起正式生效。 印度报业托拉斯称，印度总理莫迪22日在社交媒体上表示，新一代GST改革将增加居民储蓄，并直接惠 及社会的各个群体。 编辑：张嘉怡 广告等商务合作，请点击这里 本文为转载内容，授权事宜请联系原著作权人 中新经纬版权所有，未经书面授权，任何单位及个人不得转载、摘编或以其它方式使用。 关注中新经纬微信公众号(微信搜索"中新经纬"或"jwview")，看更多精彩财经资讯。 《印度斯坦时报》称，随着改革生效，印度此前的四档税率已被简化为5%和18%两档。 莫迪表示，日常必需品如今要么免税，要么适用最低的5%税率，"原本税率为12%的商品几乎全部下调 至5%"。 他说，降低税率将使每个家庭节省更多开支，并让企业经营更加轻松。(完) 来源：中国新闻网 ...

Group 1 - The Indian government has announced a reduction in the Goods and Services Tax (GST) on various consumer goods to stimulate domestic demand and counteract economic challenges posed by U.S. tariffs [1][2] - The GST structure will be simplified to two rates of 5% and 18%, down from the current four rates, addressing long-standing criticisms regarding its complexity [2] - Specific tax reductions include lowering the GST on daily consumer products like toothpaste and shampoo from 18% to 5%, and on small cars, air conditioners, and televisions from 28% to 18% [2] Group 2 - The tax cuts are expected to boost domestic consumption, with previous personal income tax cuts in February further supporting this trend [3] - Companies in the fast-moving consumer goods sector, such as Hindustan Unilever and Godrej Industries, as well as consumer electronics firms like Samsung, LG, and Sony, are anticipated to see significant revenue increases [3] - Automotive manufacturers, including Maruti, Toyota, and Suzuki, are also expected to benefit from the reduced GST rates [3]

Group 1 - Trump had a 40-minute phone call with Putin, discussing support for direct negotiations between Russia and Ukraine [1] - Trump held a multilateral meeting with European leaders, including the President of Ukraine and heads of various European nations [1] - Indian Prime Minister Modi plans to reform the Goods and Services Tax in response to potential U.S. tariffs on Indian goods [1] Group 2 - Fitch Ratings confirmed New Zealand's rating at "AA+" with a stable outlook [1] Group 3 - The Dow Jones Industrial Average decreased by 0.08% to 44,911.82 points, while the S&P 500 fell by 0.01% to 6,449.15 points [2] - The Nasdaq Composite increased by 0.03% to 21,629.77 points [2] Group 4 - COMEX gold futures fell by 0.14% to $3,378.00 per ounce, while silver futures rose by 0.24% to $38.07 per ounce [3] Group 5 - U.S. oil futures rose by 0.97% to $62.58 per barrel, and Brent crude increased by 0.97% to $66.49 per barrel [4] - The U.S. dollar index increased by 0.31% to 98.16 [4]

Group 1 - The core message from Indian Prime Minister Modi's Independence Day speech emphasizes the protection of farmers, fishermen, and other laborers' interests against harmful policies, asserting that there will be no compromise on these issues [1] - India is making efforts to ensure that its development plans benefit small farmers, livestock breeders, and fishermen, having identified 100 agricultural regions that require additional support [1] - The country plans to reform the Goods and Services Tax (GST) to lower tax rates, aiming to support the growth of small and medium enterprises and promote economic growth [1]