Modi announces new task force to boost India's economy
Prime Minister Narendra Modi just announced a new task force to drive big economic changes in India, aiming for more self-reliance as global trade tensions rise.
The news came during his Independence Day speech at the Red Fort, with a focus on making India less dependent on foreign countries, a theme that has gained urgency amid recent US tariffs on Indian exports.
Task force to revamp GST and cut red tape
This task force will work to simplify policies, cut down on red tape, and revamp GST—so everyday essentials could get cheaper by Diwali (Modi called it a "double Diwali" gift).
The reforms also aim to make investing in India easier and boost sectors like energy and semiconductors.
Plus, there's a huge push for jobs: the government is offering incentives for private companies hiring first-time employees.
All of this is about making India's economy stronger and more resilient—especially important now that S&P Global just upgraded India's credit rating for the first time since 2007.