EPI: INDIA BUYS MORE GOLD AND CHANGES TAX STRUCTURE TO COUNTER U.S. TARIFFS
By Nigam Arora
India remains the best long term opportunity outside the U.S.
Buying Gold
We wrote in the Morning Capsule:
India bought 39 tonnes of gold and reduced U.S. Treasury holdings from $242B to $227B.
As we previously shared with you, foreign central banks are rebalancing their holdings and deprioritizing U.S. Treasuries.
Cutting Taxes
India is changing its tax structure to cut taxes on consumer goods in an effort to increase local consumption.
The previous structure for consumption tax had four tiers: 5%, 12%, 18%, and 28%. The revised structure has only two tiers: 5% and 18%. Select specialty items like cigarettes and high end cars will be taxed at 40%.… Please click here or the title below to read more.
September 5, 2025