India’s recent Budget has introduced what many are dubbing “Harley diplomacy,” as it significantly lowers the cost of premium motorcycles by reducing import duties, according to a ToI report. Ahead of Prime Minister Narendra Modi’s upcoming visit to the U.S., the Union Budget proposes a substantial cut in customs duties on fully assembled motorcycles with engine capacities over 1,600cc—from 50% to 30%. This decision favors luxury brands such as Harley-Davidson, Ducati, Honda, and Suzuki, making these high-end bikes more affordable for Indian consumers.
RBI likely sold $12 billion in gold reserves amid rupee pressure
India’s central bank, the Reserve Bank of India (RBI), is estimated to have sold nearly $12 billion worth of gold reserves within a two-week period ending May 22. The assessment, based on...
Discussion about this post