Indian imposition of higher duties on 28 US products can be counterproductive to the Indian economic fabric. Comment.
The US has withdrawn the benefit of its duty-free market access for many Indian exports under the Generalized System of Preferences. The retaliatory move has come within two weeks of the US move. The Indian move is more symbolic than strategic and any kind of escalation in the trade dispute between the two nations as the geo-strategic goals of India reinforce the need for global integration. India should also act prudently against any kind of tariffs as more high duties will hurt the domestic producers and affect their ability to compete globally. India should instead focus on the supply-chain gap by conveniently replacing the goods in China to be sent to the US. India is largely an importing nation which can further worsen the situation amid growing geopolitical tensions.
Published: June 17, 2019 | Modified:December 1, 2019