New Delhi, Feb 9: India should prioritize trade openness and reforms to enhance long-term competitiveness, according to a new report, particularly in light of the interim India-US trade agreement. Key reforms include correcting duty structures, streamlining logistics, fostering assembly manufacturing, and reducing protectionism.
The US-India trade deal offers India tariff relief but requires a $500 billion import commitment. It emphasizes reciprocal market access, with India reducing tariffs on US goods in exchange for lower tariffs on certain Indian products.
This framework aims to balance trade while boosting India’s manufacturing sector and initiatives like Make in India and Atmanirbhar Bharat.
