Modi Accelerates Reforms to Shield Economy from US Tariffs, Boost Growth

• PM Modi's government fast-tracked major economic reforms in Parliament's most active winter session, aiming to bolster the economy against US trade headwinds.
• Reforms include opening the nuclear industry to private firms, allowing full foreign ownership of insurance companies, and unifying securities market laws.
• These measures, alongside tax cuts and labor code overhauls, seek to unlock billions in investments and accelerate India's path to developed nation status by 2047.
• The urgency stems from US President Donald Trump's 50% tariffs, which have weakened exports, depreciated the rupee, and caused "irreparable damage" to states like Tamil Nadu.
• Economists like Nomura Holdings Inc. predict smoother sailing and 6.9% economic growth for 2026, with these reforms also energizing the Bharatiya Janata Party ahead of state elections.

Why It Matters: Modi's government pushes aggressive economic reforms to counter US tariffs and drive India's growth.