India’s decade-long wait for a national sales tax that will create one of the world’s biggest single markets is almost over.
On Wednesday evening, lawmakers in the upper house of parliament voted unanimously to approve a constitutional amendment to enable the goods-and-services tax, known as GST. Once fully implemented, the tax will go a long way toward fulfilling Prime Minister Narendra Modi’s pledge to make it easier to do business in the world’s fastest-growing big economy.