Mumbai: The rally that’s made India the best-performing stock market in Asia is up against a new tax law. Still, the effects of the GST may only be transitory, investors and analysts say, as both businesses and consumers adapt to the new system. And yet consumer companies could record a decline in profitability because of the GST, Citi says. Multiple recordsBets on consumption and growth have propelled India’s stock market to rival Canada and Germany in size. The Sensex has ploughed through multiple records in 2017 even after data showed the economy slowed because of the so-called demonetisation.

Source: Mint July 13, 2017 03:45 UTC