India s Growing Trade Imbalance with China is a Strategic Vulnerability - Defence News financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
A section within the government is in favour of a more nuanced approach in using tariffs as a diplomatic tool, failing which there is a possibility of the gains of India’s manufacturing-focused thrust that include schemes such as Production-Linked Incentive (PLI) being squandered away.
India started hiking tariffs well before the largely post-pandemic mood of protectionism in the West kicked in. Also, even as it negotiates a record number of bilateral trade deals, India has chosen to stay out of important regional trading arrangements, including the RCEP.