New Aviation Fuel Taxes Announced in India Threaten to Further Cripple Industry

Asia has been seeing a retreat in its markets this year and several Asian economies are seeing their currencies continuing to slide in value. The Indian rupee has been among the worst hit in the region with a decline of more than 12 percent versus the dollar this year. As a result, the Indian government has announced taxes on 19 different imports valued at around $12 billion USD. One of the items is jet fuel. India already pays the world’s…