The week started on a predictable note as GST rate cuts took effect on Monday, and the United States and India proceeded with their trade negotiations. By the end of the week, the uncertainty theme re-emerged with US President Donald Trump announcing a slew of fresh sectoral tariffs.
Below are the top events and news of the week that ended on Sept. 26.
GST 2.0 In Effect: Auto To FMCG—Sectors Poised To Reap Rate Cut Benefits
A major overhaul of the GST system came into effect on Monday, Sept. 22. The new GST rate changes, approved by the GST Council earlier this month, reduces the tax burden across a wide range of items.
Key sectors poised to benefit from the lower GST under this latest reform include automobile, FMCG, consumer staples, consumer durables, hotels, insurance, logistics, quick commerce and footwear.
Trump Announces 100% Tariff On Imported Pharma Drugs
US President Donald Trump announced on Thursday that he will impose a 100% import tax on pharmaceutical drugs unless the company has manufacturing capacity in the United States.
In a post on Truth Social, Trump said that, "Starting October 1st, 2025, we will be imposing a 100% Tariff on any branded or patented Pharmaceutical Product, unless a Company IS BUILDING their Pharmaceutical Manufacturing Plant in America (sic)."
Accenture Q4 Revenue Rises 7%, Beats Street Estimates
Accenture reported financial results for the fourth quarter and full fiscal year ended Aug. 31, 2025, with revenue rising 7% year-on-year to $17.6 billion, above the Wall Street estimates of $17.38 billion, driven by resilient demand from enterprise clients for its AI-driven consulting and services. Shares of the Dublin-based tech giant were up 3.7% in volatile premarket trading.
Rupee Hits Record Low Of 88.80
The Indian rupee, on Tuesday, hit a new record low of 88.8 a dollar on Tuesday. This reflected continued pressure on the currency amid the global headwinds. According to experts, global risk-aversion and trade policy uncertainty has also exacerbated the currency's depreciation.
Torrential Rains Kill 10 In Kolkata Before Durga Puja
The torrential rainfall that paralysed Kolkata on Tuesday left at least 10 people dead. The downpour, the heaviest in nearly four decades, left arterial roads flooded, snapped transport links, and plunged large parts of the city into darkness, throwing life completely out of gear ahead of the Durga Puja festivities.
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