India, Sept. 6 -- The GST reform announced by the GST Council this week - one of the biggest tax reforms since 2017 - has brought fresh optimism in the market ahead of the festive season. The government's move to reduce the tax slabs to 5 per cent and 18 per cent is expected to cushion the blow that the Indian economy would likely face due to steep tariffs imposed by US President Donald Trump.

Following the GST announcement, several automobile companies lined up to slash the prices of passenger vehicles to pass on the GST benefits to the consumers. Tata Motors, Mahindra and Renault were among the automobile majors to announce a reduction of prices.

Maruti Suzuki, the largest automobile seller in India, is expected to drop the prices of ...