Bumpy ride
India stands at a crossroads in its global trade ambitions. As pressure mounts from the United States and the European Union to slash tariffs on imported automobiles, the nation must walk a tight-rope between liberalisation and safeguarding its domestic industry. The temptation to play ball for a broader trade deal is real ~ but so are the risks of derailing years of hard-fought industrial progress. Currently, India imposes some of the highest car import duties in the world, aimed at encour – ag ing local manufacturing and nurturing home-grown brands. These tariffs have created an ecosystem that has not only attracted global players to “Make in India” but also allowed domestic manufacturers to scale up and compete.
The call now to reduce these tariffs to a mere 10 per cent ~ from well over 100 per cent ~ represents a seismic shift. While this could unlock greater access to premium vehicles and potentially drive short-term consumer benefits, the........
© The Statesman
