Chinese foreign minister Wang Yi is set to meet with India’s prime minister Narendra Modi on Tuesday as part of a two-day visit to Delhi, the latest sign of warming ties between the two Asian giants.

Shubhanshu Shukla, who was part of the historic Axiom-4 mission, met PM Modi on Monday, and said India's Gaganyaan Mission has gathered a lot of global interest.

Narendra Modi's administration revealed plans over the weekend for the largest tax overhaul since 2017, with consumer, auto and insurance companies likely to emerge as the biggest winners.

PM Modi met IAF Group Captain Shubhanshu Shukla, India’s first astronaut at the ISS, discussing his mission, experiments, and preparations for the Gaganyaan programme. The PM jokingly asked about the “homework” Shukla had completed in documenting his space mission.

Markets welcomed the news of proposed tax cuts set to bolster domestic consumption in India, which faces the prospect of steep U.S. tariffs.

By Nikunj Ohri and Aftab Ahmed NEW DELHI (Reuters) -India aims to slash taxes on small cars and insurance premiums as part of a sweeping reform of its goods and services tax (GST), a government source said on Monday,

India is looking to slash a local tax on small cars to 18% while levies on premium cars may be pared to 40%, people familiar with the matter said, as the Narendra Modi-led government seeks to bolster consumption demand.

During his Friday speech, Modi also hinted India would continue its unilateral suspension of the Indus Water Treaty. The treaty, which India suspended after the April massacre, allows sharing of the Indus River that runs about 2,897 kilometers (1,800 miles) through South Asia and is a lifeline for both countries.

Modi convened a meeting with top ministers and economists to outline a 100-day plan for next-generation reforms to boost India's economy and mitigate the impact of US tariffs on exports. Emphasis was placed on enhancing domestic demand and increasing the manufacturing sector's contribution to GDP.

Indian Prime Minister Narendra Modi said he received a phone call from his “friend” President Vladimir Putin, who shared his insights on a recent meeting with US President Donald Trump in Alaska, in another signal that ties between New Delhi and Moscow remain strong despite backlash from Washington.