India fast-tracks key economic reforms to counter US tariffs and boost growth
The Union government has fast-tracked a set of economic reforms aimed at insulating India from rising US tariffs and strengthening long-term growth prospects. Parliament has passed bills to open the nuclear energy sector to private companies and to allow 100% foreign ownership in insurance firms, signaling a major shift in regulated sectors. The finance minister has also proposed unifying multiple securities market laws into a single code to modernize regulation and improve investor participation. Alongside, the government has cut select consumption taxes and overhauled labor codes to improve the ease of doing business and attract investment. The Adani Group is planning a commercial nuclear energy project that will leverage the new policy space created in the nuclear sector. Trade talks, including a new free trade agreement with Oman, have been accelerated to diversify export markets and offset losses from higher US tariffs. Economists currently project India’s GDP growth at around 6.9% for 2026, but estimate that sustained growth of about 8% is needed to achieve developed-country status by 2047. The latest Parliament session has been one of the most productive in recent years, with eight key bills passed and significantly higher legislative hours than the previous year.
Try the question
Which sector has recently been opened to private companies under new reforms passed by Parliament?
Answer: (b) Commercial nuclear energy
The correct answer is (b) Commercial nuclear energy.