India Must Lower Tariffs to ASEAN Standards
News: EAC-PM member Rakesh Mohan said India should reduce import tariffs to ASEAN levels to boost competitiveness and global supply chain integration.
He noted that after steady tariff cuts from the 1990s to 2012, rates rose again post-2017. Lower tariffs, he argued, must be supported by exchange rate adjustments to protect exporters.
Mohan urged India to reconsider joining RCEP and apply for CPTPP to avoid exclusion from major trade blocs. He also called for easing curbs on Chinese investment, highlighting opportunities in labor-intensive industries and China’s $2.4 trillion import market.
Mohan stressed targeted government support to tap Chinese demand and noted US tariffs on India will have limited GDP impact but could hurt specific sectors.
Source: The Economic Times
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