India's rupee drops over 7% as Citigroup expects tighter rules
NewsBytes | May 20, 2026 7:39 PM CST
Citigroup suggests import taxes for India
Citi analysts suggest India could hike import taxes on things like edible oils, encourage banks to borrow from overseas, and encourage inclusion in the Bloomberg Bond Index to attract investors.
The government already raised fuel costs and made exports tougher in May, but while these moves might help short term, Citi warns they could make international investors a bit wary in the long run.
The Reserve Bank of India hasn't weighed in yet.
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