Boosted by the tax reduction policy, the Indian stock market opened with a jump of over 1%.

The Indian stock market opened on Thursday with a jump of over 1%, after an important tax committee in India significantly reduced the consumption tax to alleviate the impact of high US tariffs. The NSE Nifty 50 index rose 1.08% to 24,980.75 points, while the Sensex index increased by 1.1% to 81,456.67 points. On Wednesday, the Goods and Services Tax Council in India approved a change from the existing four-tax rate structure to a two-tax rate structure, and stated that the tax rates for daily essentials will be reduced starting from September 22. Analysts led by Mahesh Nandkar of Jefferies believe that the price cuts should boost economic growth and festive demand. All 13 major sectors recorded gains, with the automotive index rising by 3.6% and the consumer goods index surging by 2.7%, leading the benchmark index.