Dear Friends,

US has imposed heavy tax on India citing the heavy impose of taxes on US goods and the purchase of crude oil from Russia etc.,

In a pretty surprise move, Trump has announced in his Truth Social that Both US and India finalised the trade deal and it would come to effect immediately. 

Trump said that he had phoned to Modi, Indian Prime Minister also. 

According to this, the reciprocal tariff to India has been reduced from 25% to 18%. 

With this an estimate of $48.2 billion worth of India’s merchandise exports to US are now likely to face lower tariffs of 18 percent after both sides agreed to a trade deal on February 2.

The US Ambassador to India Sergio Gor has also confirmed this. 

Meanwhile, India had already signed an Trade Deal with European Union. 

This news gives and immediate boost to the stock markets. The Gift Nifty already claimed to +600 points. 

And the Indian Stock markets would open in Deep Green tomorrow. 

This gives a great relief after the Indian Budget ransacked the Indian Stock Markets during this Sunday.

The Finance Minister of India, Nirmala Seetharaman announced the hike of Securities Transaction Tax (STT) with an 150% increase with the STT on Futures from 0.02% to 0.05% and with the Options with and 50% hike and being with 0.15% for both option premiums and exercise of options from 0.1% and 0.125%.

There is no relief on Virtual Digital Assets Taxation in India during this budget.  But the Finance Minister quoted that one need to mention everything while the tax filings and if not there will be additional penalties also. At present there is a 30% Tax on VDA in India.

We all have anticipated that the crypto markets would fly once he become the US President. 

He is the prime reason for all the pump and dump in the Crypto Markets. 

Let's see how his Trade Deal with rest of the world countries and its consequences that would reflect in the global markets.!